What is an International Finance Centre?

Sir Mark Boleat

An International Financial Centre, or IFC, is a physical area from which financial services are provided to people in other countries. Sir Mark Boleat discusses the types of IFCs, its requirements and recent trends with a specific focus on London's position as an IFC.

Banking essentials

Markets

Overview

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?

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Summary

Expert

Sir Mark Boleat

Sir Mark Boleat has held a wide range of board level appointments in the UK and Jersey. He is currently the Chairman of LINK, Eldon Insurance Services and the Governors of the City of London Academy Highbury Grove. Sir Mark is also Vice Chairman of the Advisory Board of the International Business and Diplomatic Exchange.