NEW YORK: The French government will open a tribunal in Paris to handle financial cases in English in an effort to attract more American banks after Brexit, a top official said Thursday.

French economy minister Bruno Le Maire highlighted the proposal as a way to position Paris to compete with Dublin, Frankfurt and other centers for an expected shift in finance jobs out of London due to Brexit. Most international financial contracts are written in English and make reference to British law, reports AFP.

"We will create a special court to handle disputes relating to financial contracts governed by English law, once the UK leaves the EU," Le Maire said in a speech at the New York Economic Club.