Financial Center News / 01 April 2024
WAIFC
During our Extraordinary General Meeting of the World Alliance of International Financial Centers (WAIFC) , Future Finance Poland became a member, extending WAIFC’s network to 20 members. Future Finance Poland ’s inclusion in the WAIFC underscores the country’s enduring commitment to fostering growth and innovation in the financial sector, strengthening Warsaw’s position as a key hub in Central and Eastern Europe.
? With over 30 years of dedicated efforts in building its financial center, Poland is a prominent player in the global financial landscape. Future Finance Poland ’s inclusion in the WAIFC underscores the country’s enduring commitment to fostering growth and innovation in the financial sector, strengthening Warsaw’s position as a key hub in Central and Eastern Europe.
?? Commenting on the new membership, Dr Pawel Widawski , the Chairman of Future Finance Poland , said: "We are thrilled to join the World Alliance of International Financial Centers (WAIFC) . Poland's journey in building its financial center over the past three decades has been remarkable, and our admission to this prestigious alliance further validates our position as a dynamic player in the global financial landscape. We are eager to collaborate with our counterparts from other leading financial centers to drive innovation, foster sustainable growth, and address the evolving needs of our industry."
We thank our member Economic Development Board Mauritius for hosting us.
?? Read the article: https://lnkd.in/em-k5tti
???Today, members of the WAIFC convened for the board of directors meeting and extraordinary general meeting, which took place in Mauritius, hosted by our member Economic Development Board Mauritius .
Fruitful discussions were held regarding several important projects:
Regulatory Genome Project - Cambridge Judge Business School - Cambridge University (RGP): We have made significant strides, hosting roundtable discussions in Cambridge and New York, and solidifying a Memorandum of Understanding (MoU) with?the Regulatory Genome Project (RGP). Moving into 2024, we are thrilled to introduce the Four Pillars of Engagement.
?? Women in Finance: Following the signing of the gender pledge last October, the project has progressed with sessions dedicated to implementing the pledge and hosting a webinar in celebration of International Women's Day. Currently, the focus is on developing a comprehensive set of best practices to further promote gender equality within the finance sector.
?? Green Transformation of Supply Chains: The project aims to highlight the pivotal role of art in international financial centers, encompassing various aspects from visual arts to gastronomy. Activities such as a kickoff meeting, data gathering, and ongoing drafting of a whitepaper are underway, with plans for a promotional webinar in the pipeline to disseminate findings and insights to a wider audience.
?? Art & Financial Centers: This project is dedicated to advancing green initiatives within global supply chains, recognizing the importance of integrating sustainability practices across different financial centers worldwide. Key activities including a kickoff meeting, extensive data collection, and ongoing refinement of a whitepaper will culminate in a promotional webinar to share findings and strategies for a greener financial ecosystem.
?? Read the full article: https://lnkd.in/d9niMWMS ?
During the Extraordinary General Meeting, which took place in Mauritius, hosted by our member Economic Development Board Mauritius , Mr. Olivier Vigna , Deputy CEO of Paris Europlace , joined the WAIFC board, replacing Arnaud de Bresson, the inaugural chairman of WAIFC.
?? Members of the #WAIFC of the African continent signed a MoU for the setting up of the WAIFC Africa Roundtable in Mauritius.
?? The Africa Roundtable includes the following members: Economic Development Board Mauritius , Casablanca Finance City , EnterpriseNGR , and Kigali International Financial Centre .
?? This signifies a pivotal step towards advancing the commitment of the #WAIFC ’s members of the African continent to facilitate greater collaboration fostering sustainability, impact investment, and regional trade. Collaborative efforts will include joint projects, research, and events to further promote investment opportunities and the strategic role of financial centers.
?? More info: https://lnkd.in/edH2fE-h ?????????????
?? Our members had the incredible opportunity to visit the The African Leadership University , a beacon of entrepreneurship and innovation on the African continent, with campuses in #Mauritius and #Kigali . During our visit, we engaged with numerous ambitious and forward-thinking students and faculty members, witnessing firsthand how ALU is shaping the future of entrepreneurship in Africa. We are excited about the potential collaborations and the impact these bright minds will have on the global stage.
??Insightful Session at the Bank of Mauritius A pivotal moment of the day was the visit to the Bank of Mauritius, including a high tea session with the Governor, Mr. Harvesh Kumar Seegolam G.C.S.K.
??Participants engaged in a presentation addressing current initiatives to combat fraud and money laundering. The high tea with Governor Seegolam provided an intimate platform for attendees to gain insights into Mauritius' developmental strategies.
??Read the article: https://lnkd.in/eAw8gBmb
Abu Dhabi Global Market?(ADGM)
ADGM hosted its annual LINK Suhoor event, an exclusive gathering for the ADGM community during the holy month of Ramadan. This unique event brought together professionals to network and exchange ideas while enjoying a delicious Suhoor meal and live music, creating a memorable experience.
Astana International Financial Centre?(AIFC)
?? Chapter Zero Kazakhstan is here, and AIFC is proud to be at the heart of this groundbreaking initiative!??? ?
On March 28th, a landmark event for corporate climate action took place at the AIFC, marking the official launch of Chapter Zero Kazakhstan. This initiative, under the global Climate Governance Initiative founded by the World Economic Forum , aims to mobilize Kazakhstan's corporate and financial leaders to actively embrace strategies for energy transition. ?
Chapter Zero Kazakhstan has become the 31st branch of the global network, now spanning 72 countries. The Kazakhstan branch will collaborate with partners such as AIFC, the European Bank for Reconstruction and Development (EBRD ), McKinsey & Company , KPMG , and Nazarbayev University . AIFC, as a strategic partner, contributes to the Chapter's Trustee Board and Board of Directors, providing strategic vision for key activity areas and expert support in climate finance. ? The launch event in Astana also announced the development of a Corporate Governance Program for Kazakhstan and Central Asia, in collaboration with INSEAD business school. ?
Gulzada Shakulikova, Co-Chair?of Chapter Zero Kazakhstan, emphasized, "Active and ambitious participation of industry, finance, and business in mitigating and adapting to climate change is crucial. Kazakhstan is committed to achieving a sustainable future, and this initiative is an important step on this path." ?
Daniyar Kelbetov, CFA, FRM , the Chairman of the AIFC Green Finance Centre Board of Directors, highlighted, "Green finance is one of AIFC's strategic development directions. We are actively working to develop the climate finance market, including supporting issuers of thematic bonds through the AIFC Green Finance Centre. We hope this initiative will become another bridge linking business to the decarbonization agenda." ? AIFC is proud to drive the launch of Chapter Zero Kazakhstan, affirming our dedication to fostering a sustainable future and advancing the green finance agenda. Join us in this vital mission to transform corporate climate governance in Kazakhstan and beyond. ?
Busan Finance Center?(BFC)
Capital Market Authority Oman (CMA)
Major Update in Oman's Financial Regulatory Landscape
We are delighted to announce the establishment of the Financial Services Authority (FSA) in Oman, as per Royal Decree No 20/2024. This significant development marks a pivotal step towards enhancing the Sultanate's financial services sector and regulatory framework.
Key insights of the Decree:
1- Establishment and Autonomy: The FSA is established with legal personality, financial, and administrative independence, directly reporting to the Council of Ministers.
2- Headquarters and Expansion: The headquarters will be located in Muscat, with provisions to establish branches across other governorates, enhancing accessibility and governance.
3- Integration with the Capital Market Authority: The FSA will absorb all allocations, rights, obligations, and assets of the Capital Market Authority, including its employees, ensuring a seamless transition and operational continuity.
4- Regulatory Scope Expansion: The FSA will now regulate the accounting and auditing professions, transitioning this responsibility from the Ministry of Commerce, Industry, and Investment Promotion. This move is aimed at streamlining and strengthening the regulatory oversight of these critical professions.
5- Committee Restructuring: The FSA board is tasked with structuring the committee as per Article (24) of the Law Regulating the Profession of Accounting and Auditing, with an inclusion of at least two accountants, ensuring expertise-led governance.
6- Legislative Amendments: The decree introduces comprehensive amendments across relevant laws and decrees, updating terminologies and authorities in line with the establishment of the FSA.
The FSA is committed to implementing the highest standards of financial regulation and supervision, contributing to sustainable economic growth and stability in Oman. The decree is effective immediately upon its publication in the Official Gazette, signifying the official commencement of the FSA's operations.
#Oman ?#FinancialServicesAuthority ?#FSA ?#RegulatoryReform ?#EconomicGrowth ?#FinancialInnovation #OmanVision2040
Casablanca Finance City?(CFC)
As a member of the #WAIFC , we are thrilled to announce the signing of a Memorandum of Understanding in Mauritius for the establishment of the African Roundtable of Financial Centers. This initiative brings together the financial hubs of Casablanca, Kigali, Lagos, and Mauritius.
The African Roundtable aims to foster collaboration, promote investment opportunities, and encourage sustainable development within the financial centers of its member countries and across Africa as a whole.
This initiative invites other African countries to join us in this endeavor toward a more prosperous and developed continent.
EDB Mauritius EnterpriseNGR Kigali International Financial Centre World Alliance of International Financial Centers (WAIFC)
Dubai International Financial Centre?(DIFC)
The?DIFC Family Wealth Centre ?empowers clients to preserve their legacy and wealth for the future. It has created a thriving ecosystem of family businesses and?#UHNWIs , and granted them privileges encompassing access to trusted accredited advisors, educational initiatives, exclusive engagement initiatives, as well as practical tools to accompany them in their growth.
Join the?#DIFC ?Family Wealth Centre here:?https://lnkd.in/dEB-FuJT #FamilyWealth ?#FamilyBusiness ?
EDB Mauritius?(EDB)
Given the strategic importance of the Indian market for the Mauritius IFC, the Economic Development Board (EDB) conducted a financial services promotional campaign to India, led by the Honourable Soomilduth Bholah, Minister of Financial Services and Good Governance and accompanied by the Chief Executive of the Financial Services Commission, representatives of the Ministry of Financial Services and Good Governance, the EDB, and private sector stakeholders from the financial services sphere...
?????????? ?????????https://lnkd.in/dZqXuSMS
?? ?????????? ???????? ?????????? ?????? ?????????????????? ?????????????????????????? ?????????????????? ???????????? -?https://mauritiusifc.mu/
#edbmauritius ?#edbMissions ?#edbFinancialServices ?#FinancialServices ?#GoodGovernance ?#africabusiness ?#IndiaMauritius ?#bilateralrelations
EnterpriseNGR
Be the first to read our latest research and thought leadership article on an important topic impacting the Nigerian Financial and Professional Services sector, titled Closing Nigeria’s Exclusion Gap.
In the article, we highlighted the importance of financial inclusion and suggested six areas where governments and industry players can channel efforts and align focus to drive significant improvement in financial inclusion.
Excerpts: In recent times, growth in financial inclusion has accelerated quite a bit, with at least 76% of adults having a bank or mobile account globally, up from just 51% in 2011.?However, approximately 1.4 billion adults do not use formal financial services that encompass essential services like payments, savings, credit, and insurance. Unfortunately, a greater number of unbanked people live in developing countries, given the near-universal account ownership in developed economies. The transformative impact of financial inclusion is evident on many fronts. It is a lifeline for the low-income group, empowering them to save, access credit, build assets, manage risks, and upwardly progress on the social and economic ladder. Also, financial inclusion correlates with economic growth.
For instance, going by Bangladesh’s experience, financial inclusion reforms contributed to a remarkable 6.5% compound annual growth rate (CAGR) in GDP—from $115 billion in 2010 to $460 billion in 2022—accompanied by a reduction in poverty from 11.8% to 5%. Beyond the potential for a transformative and stable economy, there are many more benefits when individuals are financially included. Financial inclusion promises great commercial benefits for financial institutions to realize business opportunities in untapped markets.
Read the full article: https://lnkd.in/d_xUXbkJ
FinanceMalta
Dr?Bernice Buttigieg , Chief Strategy Officer,?FinanceMalta ?was asked to share her insights on the latest edition of Malta Invest, an annual publication focusing on Malta as an investment destination, produced by?Content House Group .
Read the article ???https://lnkd.in/eYQZhNUA #FinancialServices
FinCity.Tokyo
领英推荐
Frankfurt Main Finance?(FMF)
#Newsletter | Find the latest news from the financial center Frankfurt here ??
?? In the latest edition of the Global Financial Center Index, our financial center has improved by six points and one rank to 13th place. This means that Frankfurt has maintained its lead over Paris and remains the leading financial center in the EU!
?? Listen to the latest episode of our #MeinFinanzplatz podcast, in which Enrico Aresu, Head of Compliance Solutions DACH & CEE at Moody's Analytics, talks about the important role of banks as watchdogs of society and highlights the increasing importance of Frankfurt as a financial center with the introduction of the #AMLA in the EU.
?? TechQuartier 's Accelerator Program "Digital Finance" offers 15 start-ups access to industry contacts. This free program brings them together with experts and investors and promotes collaboration. Apply until April 07!
?? Read the March issue here: https://brnw.ch/21wImij
?? Stay informed and up-to-date on all the latest happenings in the financial center of #Frankfurt by subscribing to "Finance Matters" newsletter today ?? https://brnw.ch/21wImih (English) or https://lnkd.in/eMyGiDvq for the German version.
Future Finance Poland
?? Exciting News Alert! ?? On March 26th, we had the privilege of co-organizing the Poland-Korea Seminar, a dynamic platform fostering collaboration between two vibrant fintech ecosystems.
?? During this groundbreaking event, we were thrilled to announce the signing of a Memorandum of Understanding (MoU) between FinTech Poland and Korea Fintech Center . This MoU marks a significant milestone, solidifying our commitment to cooperation and exchange.
?? The agreement encompasses various collaborative efforts, including the exchange of visits, joint seminar organization, information sharing on regulatory matters, and training initiatives. Throughout the seminar, the immense potential of both markets was showcased, with fintech representatives from Korea and Poland delivering insightful presentations on their respective innovations and advancements.
?? It was truly inspiring to witness the wealth of opportunities arising from this cross-border partnership. We're excited about the possibilities that lie ahead and look forward to leveraging this strategic alliance to drive innovation, foster knowledge exchange, and propel the fintech industry forward. ????
#FintechCollaboration #GlobalPartnerships #InnovationJourney Pawel Widawski Piotr Brewiński Gabriela Mrozek Kasia Jedlińska
Hong Kong Financial Services Development Council?(FSDC)
?? Accelerating Offshore RMB Market Development: Enriching Hong Kong’s Offerings as an International Financial Centre ??
Join the?#FSDC ?Industry Exchange Series webinar to explore Hong Kong’s pivotal role in the global Renminbi (RMB) landscape.?Despite recent slowdowns in RMB internationalization, its global usage is steadily rising.??
Register Now!?Discover strategies to optimize Hong Kong’s connectivity and RMB initiatives for sustainable growth.?Don’t miss this chance to gain valuable insights and uncover new horizons for Hong Kong’s offshore RMB businesses. ?? ??
?? Save the Date:?28 March 2024 (Thursday)
? Time:?3:00 pm - 4:00 pm
?? Language:?Putonghua
?? Virtual Event:?Join us on Zoom.?
Register Here Now!?https://lnkd.in/gubR9ZFX ?
?? Speakers:
????Ms Ding Chen, CEO, CSOP Asset Management Limited
????Mr Thomas Fang, MD, Head of China Global Markets, QFII Representative, UBS AG
????Dr Lin Yong, Deputy Chairman and CEO, Haitong International Securities Group Limited ?
?? Moderator:
????Dr?Rocky Tung , Director & Head of Policy Research, FSDC
#researchpaper ?#webinar ?#Industryexchangeseries ?#HK ?#financialservices ?#RMBGrowth ?#RMBinternationalisation ?#webinar ?#FSDC ?#FSDCHK ?#FSDCHongKong Financial Services and the Treasury Bureau (FSTB)
Jersey Finance
Bi-Lingual Version of Our Research on Saudi NextGens Published
We are proud to have published a bi-lingual (Arabic and English) version of our groundbreaking research on the key issues, challenges and opportunities faced by next generation family business leaders in Saudi Arabia. By downloading the report, you can gain insights into the attitudes of family business leaders in the Kingdom of Saudi Arabia and learn how to support the ambitions of this new, next generation of wealth leaders, and enable them to realize both their potential and that of the Kingdom of Saudi Arabia.
Download Report:?https://jsy.fi/43tsW97
Kigali International Financial Centre?(KIFC)
Yesterday evening, our partners Capital Market Authority | Rwanda and CRYSTAL VENTURES LIMITED hosted a networking cocktail to recognize Rwandan financial professionals who recently completed their CFA program. During the event, the following Charter Holders were awarded: Ulrich Kayinamura, CFA, FRM from BK Capital Ltd , Ndikumana Andre CFA, CPA (Rwanda) , from The Finacco Hub , and Josue Dushimimana, CFA from Kigali Golf Resort & Villas .
Luxembourg for Finance?(LFF)
This weekend the LFF Team participated in the “Relay for Life”, organized by the Fondation Cancer in Luxembourg, in support of the fight against cancer.
You can help the Cancer Foundation by donating on their website: https://bit.ly/3FOU1cc
Paris EUROPLACE
The program of the first edition of the IFD Meetings is now available!? ? For this day of debates on the theme "Financing the ecological transition: time for action!", you will find:? ?
???An opening dialogue on the theme "Ecological Transition: Towards a New Industrial Revolution?"? ?
3 round ?? tables
?? "What political economy to govern the ecological transition?"? ?? "How can we finance the ecological transition?"?
?? "Financing the transition of emerging countries: the challenge of blended finance"? ?
?? The Outlook: "Thinking Beyond Financial Performance"? ?
Placed under the patronage of the?Ministère de l’économie, des Finances et de la Souveraineté industrielle et numérique , this event will bring together the main actors and decision-makers involved in the success of?#Transitionécologique ?in the financial sector.? ?
??? See you on April 22, 2024?
?? At the Ministry of the Economy, Finance and Industrial and Digital Sovereignty at Bercy? ?
Register now*???https://lnkd.in/etYNYN7Q ? *Face-to-face places are limited and subject to validation? ?
#RencontresIFD ?#FinanceDurable Novethic ?RSEDATANEWS ?l'Opinion ?Option Finance ?L'AGEFI ?Groupe AEF info
Read More on LinkedIn ???????????????????????????
Qatar Financial Centre?(QFC)
An important update from #QFCA ! The Cabinet of Qatar approved a key reform of the QFCA Board of Directors, signaling a fresh direction for the organization. ?? ?
Led by HE Sheikh Mohammed bin Hamad bin Qassim Al-Thani as Chairman, the board brings together distinguished figures such as Mansoor bin Ebrahim Al Mahmoud, HE Abdulaziz bin Nasser bin Mubarak Al Khalifa, HE Akbar Al Baker, HE Ahmed bin Abdullah Al Jamal, HE Mohammed Hassan Al Maliki, Sheikh Ali bin Alwaleed Al-Thani, Engineer Ahmad Abdulla AlMuslemani, Yousuf Al-Jaida , and Robert Wigley. ?
This pivotal move is set to strengthen the QFC's role in driving Qatar's economic development, with a board comprised of leaders renowned for their expertise across various sectors. ??
Stuttgart Financial
By fintogether
Entrepreneurial spirit meets experience: Pitch&Pizza Event at Feuersee ??
Last Thursday, founders, investors, and an interested audience met for the Pitch&Pizza Event at our premises at Feuersee. The atmosphere was great!
The jury (Florian Sager ,?Marco Neidhart, ?and Jürgen Erlewein) was impressed by the diversity and potential of the ideas. Dear jury, thank you again for the important discussion, the critical questions, and the feedback! You've upgraded the event tremendously. With delicious pizza and cool drinks, the evening ended comfortably. It was a great opportunity to network and make new contacts.
We would like to thank all participants and look forward to the next event! Stay tuned and follow us on LinkedIn to make sure you don't miss any more events! By then! Your fintogether-??-Team
#pitchpizza ?#startups ?#entrepreneurship ?#business ?#networking ?#event Dr. Philipp Veit ,?Kati Nayeri ,?Jan Hendrik Merlin Reichenbacher ,?Sarah Garpiel ,?Mireia M. Mauri ,?Paul D?rflinger ,?Nazmie Sabani
TheCityUK
?? Data from the latest iteration of our annual ‘Key facts about UK-based financial and related professional services’ report shows that our industry continues to be a major national employer, with over 2.4 million people employed in 2022 – or almost one in every 13 people in employment.
?? Two thirds of these jobs are based outside London.
?? Read more about employment in the industry and other key facts in the report here?https://lnkd.in/ePYvsPj5
About me:
Managing Director of the World Alliance of International Financial Centers
Managing Partner of FinTech Consult , a network of FinTech experts in Asia, Europe, and Africa supporting FinTechs in expanding globally
Non-Executive Director of Eastnets , a global provider of compliance and payment solutions for the financial services sector
Expert at the Sino-German Center for Finance and Economics in Frankfurt
Fellow of the Think Tank of the Asian Financial Cooperation Association
Mentor at Cyberport in Hong Kong, OneEleven in Toronto, the Plug and Play Tech Center , the Accelerator Frankfurt , and 1000 Black Voices
Advisory Board member of a number of FinTech companies
About the WAIFC:
The?World Alliance of International Financial Centers ?(WAIFC) is a non-profit association registered in Belgium that represents?30 leading international financial centers on five continents .
WAIFC members are city governments, associations, and similar institutions developing and promoting their financial centers.
WAIFC facilitates cooperation between its members, the exchange of best practices, and communication with the general public.