IFC Economic Report 2023

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Editor’s Note

As we move into 2023, and despite the world’s specialist IFCs demonstrating increasing levels of compliance and transparency far superior to their onshore peers, there is still a need to fight misconceptions surrounding ‘offshore’. Who are the real enablers of global financial crime? How credible is the EU tax blacklist? These questions are examined in our lead feature and beyond as we challenge attitudes and debunk narratives.

In our global regulation and international tax features, we touch on the impact of the global minimum tax rate and provide an update on AML risks and trends – read our exclusive insight from T. Raja Kumar, President of the FATF on page 33. We also hear from the OECD on the latest developments in the implementation of the Two-Pillar Solution.

Elsewhere, our special focus on Russian sanctions examines how IFCs are playing their part in adhering to international obligations.

Beyond regulation and policy, how equipped are IFCs to deal with a new cohort of HNWIs and respond to changing priorities in areas such as Philanthropy, ESG Investing and FinTech?

Our jurisdiction focus also throws a spotlight on innovative developments in Barbados, BVI and Jersey.

Through insightful commentary and analysis, IFC Economic Report will continue to highlight how IFCs contribute positively to the global economy and movement of wealth. Visit ifcreview.com for full coverage of the topics examined in this edition and more, including a special focus on Crypto Regulation, the Rise of RegTech, and the importance of IFC collaboration.

Hannah Reilly

Assistant Commissioning Editor