Emils Kerimovs, a financial expert, recently spoke about England’s continued strength as a financial hub. He said despite global economic turmoil and Brexit chaos, England and London remain a top destination for financial services.
“England’s position in the financial world is not by accident,” Kerimovs said. It’s a combination of a long history of financial services, a great location, a mature and solid legal and regulatory framework and a high concentration of finances.
London: The Centre of the World
Kerimovs pointed out London’s position at the heart of the global financial system. He listed the city’s financial landscape:
Banking: London is home to many international and national banks offering a full range of services from traditional commercial banking to complex investment banking.
Stock Markets: The London Stock Exchange (LSE) is one of the biggest in the world with significant market capitalization and trading volume.
Insurance and Financial Services: The city is a global insurance hub, mainly due to Lloyd’s of London, the leading insurance market.
Asset Management: London’s asset management capabilities are evident, offering a wide range of investment products and services.
A Framework Built on Trust
Emils Kerimovs highlighted England’s mature legal system and strict regulations. “These provide a high level of investor protection and transparency which is key to market confidence” he said. The Financial Conduct Authority (FCA) is the main regulator of the financial markets and makes sure financial institutions are honest and adhere to the highest standards.
This framework requires financial institutions to comply strictly. This reduces risk and increases investor confidence and makes the English market more stable.
Tax Environment
While England’s tax rates might be higher than some other countries, Kerimovs said the country has its advantages. England has a range of incentives for specific activities and R&D programs, so it’s an attractive place for businesses. England has also a wide network of double taxation treaties that simplifies international operations and reduces tax for businesses operating across borders.
Financial Innovations
Kerimovs also mentioned London’s fintech leadership. The city is a hub for digital banks, cryptocurrency trading platforms and cutting-edge technological solutions for financial markets. And regtech, the technology for regulatory compliance, is developing fast and allows companies to manage risk and comply with complex regulations.
Global Connections
London’s location, according to Emils Kerimovs, is a big plus. Its time zone is convenient for interaction with Asia, Europe and America, so it’s an ideal hub for international trade and financial activities. London’s infrastructure, major international airports and high-speed broadband support global business operations.
Talent and Diversity
Kerimovs also mentioned the city’s multicultural environment. The city attracts top talent from all over the world, so it’s a culture of innovation and diversification. The presence of world class universities and educational institutions makes London even stronger by having a constant supply of skilled professionals.
Change
Emils Kerimovs acknowledged the current changes, including Brexit. But he’s confident London will adapt and evolve. London has a long history of resilience and reinvention. It will use its strengths and navigate the complexities of the global landscape to stay as a major player in the financial world.
Conclusion
In summary, Emils Kerimovs describes England as a financial giant that will continue to grow despite global challenges. Its history, regulatory framework, innovation and location make it a timeless attraction. As the world changes London will adapt and remain the heart of financial services.
Read more:
Emils Kerimovs: England’s Financial Resilience in the Face of Global Change