Financial magazine The Banker has ranked the Cayman Islands as the No. 1 specialised financial centre for the third consecutive year.
Cayman retained the top spot in the 2011 survey despite a much lower score than in 2010.
According to the Banker, the lower score could be a reflection of the more in-depth questionnaire used in the 2011 survey.
“The fact that The Banker improved its assessment with a more detailed questionnaire in 2011 and the Cayman Islands remain at top with a wide margin is proof that this jurisdiction can hold its own against international standards relating to service or regulation and I am confident that we will continue to do so,” said Cayman Finance Chairman Richard Coles.
The Cayman Islands was trailed by Guernsey, Cyprus, Guernsey and the Bahamas, which all scored similarly at a significant margin to the top position.
The Banker’s ranking is based on data from a variety of sources and includes financial market indicators, economic potential and business environment factors.
It focuses specifically on the level of international business and the value offered to international institutions seeking to expand their international operations.