A significant share of this FDI was in offshore financial centres.

Noting that the Territory is emerging as one of the world's leading offshore financial centres,

Noting also that the Territory has emerged as one of the world's leading offshore financial centres,

Noting that the Territory continues to emerge as one of the world's leading offshore financial centres,

Also noting that the Territory continues to emerge as one of the world's leading offshore financial centres,

Not much is known about the impact of outward FDI from developing countries in offshore financial centres.

Noting that the Territory is emerging as one of the world apos s leading offshore financial centres,

Bermuda is one of the world's leading offshore financial and business centres and the third largest insurance market.

Noting also that the Territory has emerged as one of the world apos s leading offshore financial centres,

Noting also that the Territory has emerged as one of the world apos s leading offshore financial centres,

At the same time, a significant share of the overall FDI from the South is related to offshore financial centres.

Offshore financial centres in the region are not covered because they do not provide geographical breakdown by source of inward FDI stock.

Noting also that the Territory continues to emerge as one of the world's leading offshore financial centres, with unprecedented growth in its financial and tourism services sectors,

Noting that the Territory continues to emerge as one of the world's leading offshore financial centres, and that the financial services sector is becoming the cornerstone of the Government's recurrent budget,

Indeed, in many offshore centres local residents are not allowed to make deposits.

Offshore financial centres have long been the centre of attention in addressing money laundering problems, in view of their potential use as safe havens for money launderers.

Between LAC and South, East and Southeast Asia Offshore financial centres in the Caribbean account for about 15 per cent of the FDI stock in Asia (table 3).

Conversely, there is virtually no investment from African countries in the LAC region, apart for a small amount of outward FDI from South Africa into offshore financial centres.

However, thanks to concerted international efforts, many offshore financial centres have already improved their practices by revoking the licences of shell banks or strengthening customer identification requirements for corporations.

For example, offshore financial centres including the Bahamas, Bermuda and the British Virgin Islands were host to for about 70 per cent of Brazil's total FDI outward stock in 2003.

As one of the world's premier offshore banking centres, the Bahamas was also determined to ensure that its banks and financial entities were well regulated and in compliance with international norms.

The preliminary report generated a great deal of interest among Governments, the public and the media in the role of offshore financial centres and banking secrecy in relation to money laundering.

32. Bermuda is one of the world s leading offshore financial and business centres, a leading world captive insurance centre and a favoured venue for specialist companies operating as financial reinsurers covering international companies against the cost of legal awards.

The bulk of these investments (56 per cent of regional outflows in 2003) emanate from offshore financial centres, such as the British Virgin Islands and the Cayman Islands. The main other LAC source countries

Intra Latin America and the Caribbean Fifteen per cent of FDI stock in LAC originates within the region (table 3) the main host economies, by far, are the offshore financial centres of the Caribbean.

Public campaigns at the national, regional and international levels have had considerable success in raising public awareness about the risks of using offshore financial centres that are not transparent in their structure and operations.

Aware that the Territory has one of the highest per capita incomes in the region, a stable political climate and has emerged as one of the world's leading offshore financial centres with virtually no unemployment,

Those relevant details are held by a financial institution in a foreign country, frequently offshore.

Noting that the Territory continues to emerge as one of the world's leading offshore financial centres, and that the financial services sector is becoming the cornerstone of the Government's recurrent budget, accounting for over 50 per cent of government revenue, and also noting the establishment of the Financial Services Commission,

Noting the efforts of the territorial Government to promote the Territory as an offshore financial services centre,

Bermuda considers the high level of education of its inhabitants to be a major component of its comparative advantage relative to other offshore centres.

Noting the efforts of the Government of the Territory to promote the Territory as an offshore financial services centre,

Noting the efforts of the Government of the Territory to promote the Territory as an offshore financial services centre,

This is offshore.

The financial arrangements by which the centres will be funded are critical to the success of such centres.

Noting further the efforts of the Government of the Territory to promote the Territory as an offshore financial services centre,

Noting further the efforts of the Government of the Territory to promote the Territory as an offshore financial services centre,

Tourism development and economic diversification are considered top priorities, and efforts to develop the offshore financial sector are under way.

In both cases, FDI from developing countries is likely to be underestimated in the case of the figure based on outward data ( 859 billion), outward FDI stock may not be fully reported by some offshore financial centres and in that of the figure based on inward data ( 877 billion), information on the sources of FDI is not available for those centres.

How should the financial aspects associated with centres and networks be approached?

Offshore Group of Banking Supervisors

Offshore Group of Banking Supervisors

VII. Offshore installations and structures

Financial and fiscal havens and offshore banking, for example, are based to an extent on helping foreigners avoid taxes in their own countries.

The whole Japanese navy's anchored offshore.