The Treasury Minister praised the Island’s financial professionals for their hard work applying high standards and helping the Island be internationally recognised as a highly regarded and well regulated jurisdiction.

A clearly buoyant Senator Ozouf made the comments during an upbeat address to members of the Institute of Directors at the Grand Hotel on Tuesday.

The Senator gave his speech at about the same time as the G8 meeting of world leaders in Northern Ireland was outlining an action plan for future policy on tax transparency.