received a cheque worth 1,000 from the CIB, beating out 120 other centres around the world.

The cheque was presented by former CIB president Dr. Andreas Prindl FCIB to Local Centre president Mr.

James Hollis-Hallett.

Dr. Prindl is the founder and current chairman of Nomura Bank International plc in London, the hub of the banking services for the Japanese-owned Nomura Group.

He remarked: "The award was presented because of the generally active and enthusiastic nature of the committee. It is indicative of the strong educational programmes here and the solid social programmes.

"Bermuda is the second youngest centre, having been founded just five years ago. There are many centres that are a lot bigger and a lot older.'' Dr. Prindl also remarked at the growth in the financial services sector during the last five years.

He said: "Since last being here five years ago, I'm impressed at the development of your financial centre. I'm surprised at the amount of activity and how much this sector is bringing to the economy.''