An IFC is a centre operating from a physical location that facilitates international activity and operates under a regulatory framework that meets international norms. IFCs provide financial services to international clients as well as support services such as law, accountancy and technology. An IFC has to be attractive to businesses not operating in the jurisdiction and meet a number of inter-related requirements, mainly relating to stability and resources. The markets IFCs operate in change over time in response to economic and political conditions and factors relevant to IFCs themselves.
Key learning objectives:
What is an IFC?
Define the different sub-categories of IFCs
What are the general requirements for an IFC and what criteria does the Global Financial Centres index use?
What are the recent trends with regard to IFCs?