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Dubai ranks high in FSI 2011

Tax Justice Network (TJN) issues a yearly Financial Secrecy Index (FSI), which combines two measurements: one qualitative and one quantitative.
The qualitative measure looks at a jurisdiction's laws and regulations, international treaties, and so on, to assess how secretive it is. The assessment is given in the form of a Secrecy Score: the higher the score, the more secretive the jurisdiction.
The second, quantitative, measurement attaches a weighting to take account of the jurisdiction's size and overall importance to the global financial markets. In combining the two scores, TJN mathematically emphasises the secrecy score and de-emphasise the weighting, in order to give secrecy its due importance.

The 2011 FSI once again proves that some of the large OECD nations (including the U.S., Germany, Japan, and the UK) are the world's largest financial havens for non-residents.
The index reveals that the traditional stereotype of tax havens is misplaced - that the world's most important providers of financial secrecy are not small, palm-fringed islands as many suppose, but some of the world's biggest and wealthiest countries.

Interesting is Rank 18 for United Arab Emirates (Dubai): This slightly lower rank is mainly caused by a very low Global Weight Scale. With isolated look to the Secrecy Score of 79, UAE would rank in the Top 10, amongst Ranks 1 to 20 only topped by Marshall Islands, Bermudas, Bahamas  and British Virgin Islands. But with astonishing higher Secrecy Score than Switzerland, Luxembourg, Hong Kong and Singapore.

Not further to talk about the pure "Volume Heavy Weights" USA (SC 58), Germany (SC 57) and UK (SC 45, ups!).

RANKSecrecy JurisdictionFSI - ValueSecrecy ScoreGlobal Scale Weight
2Cayman Islands1646.7770.046
4Hong Kong1370.7730.042
11British Virgin Islands617.9810.002
13United Kingdom516.5450.200
16Marshall Islands457.0900.000
18United Arab Emirates (Dubai)439.6790.001


Source: http://www.financialsecrecyindex.com/2011results.htm



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