Financial Center News / 18 October 2024
WAIFC
The #WAIFC Welcomes Istanbul and Nairobi as New Members, and Appoints New Board Members ??
??We are thrilled to announce that the Istanbul Financial Center and the Two Rivers International Finance & Innovation Centre SEZ have joined WAIFC as our newest members, alongside the appointment of new board members.
??These exciting decisions were made during the WAIFC’s General Meeting in #Tokyo hosted by our member FinCity.Tokyo (東京国際金融機構), solidifying our global network, which now extends to 28 financial centers across four continents.
In addition to welcoming new members, #WAIFC is proud to introduce our newly appointed board members: ? Bernice Buttigieg from FinanceMalta ???? ? Temirlan Mukhanbetzhanov from AIFC (Astana International Financial Centre) ???? ? Lynn Robbroeckx from Luxembourg for Finance ???? Their leadership will further enhance WAIFC’s influence in the global financial industry.
?? Istanbul Financial Center CEO Ahmet ?hsan Erdem shared his excitement: “We’re thrilled to be part of the WAIFC network, connecting with the most respected financial centers globally. Our vision is to strengthen Istanbul’s position as a leading hub for sectors like international finance, energy, and Islamic finance.”
?? Brenda Mbathi, CEO of Two Rivers International Finance & Innovation Centre SEZ added: “This membership is a recognition of Nairobi’s growing role as a financial hub, and we look forward to collaborating with WAIFC to drive sustainable growth.”
?? Keiichi Aritomo, WAIFC Chairman, concluded: “We are excited to welcome Istanbul and Nairobi into our network. Together, we will foster deeper collaboration, innovation, and sustainable economic development globally.”
?? Read the full article: https://lnkd.in/ewSbzQcR
??????WAIFC announces winners of third annual #YoungAcademicAward
??The WAIFC Young Academic Award 2024 winners were unveiled in a grand ceremony held during the Annual General Meeting in Tokyo, hosted by our esteemed member, FinCity.Tokyo (東京国際金融機構).
We are thrilled to announce the winners of the WAIFC YAA Award 2024:
??Tammaro Terracciano,Coralie Jaunin, and Lucciano Somoza - First Place Title of paper: "Are Green Funds for Real?"
??Bodun Adebayo - Second Place Title of paper: "Financial Centers as Drivers of Talent Development and Re-Skilling in Sustainability and FinTech" ?
??Regean mugume - Third Place Title of paper: "Delivering double wins: How can Africa's finance deliver economic growth and renewable energy transition"
??Each of these winners has demonstrated exceptional research skills, contributing papers of the highest quality. We would like to thank our Jury for their remarkable work.
??Read the full article: https://lnkd.in/ehkAuwmD
??? After the insightful presentation by Ken Shibusawa, our WAIFC #Africa Chapter members took the stage to showcase the exceptional strengths of their International Financial Centers. Each presentation highlighted the unique value of their respective IFCs: ?
? Casablanca Finance City represented by Lamia MERZOUKI ???? ?
? EnterpriseNGR represented by Obi Ibekwe ???? ?
? Kigali International Financial Centre represented by Hortense Mudenge ???? ?
? Economic Development Board Mauritius represented by Ken Poonoosamy ???? I
t was inspiring to see the expertise and vision from each center, as we continue to drive collaboration and innovation across Africa and beyond. ????
?? Read more about the WAIFC Africa Chapter: https://lnkd.in/eS5g6ctH
?#WAIFC #AfricaChapter #GlobalCollaboration #IFCs #CasablancaFinanceCity #EnterpriseNGR #KigaliFinanceCenter #EDBMauritius #Innovation
???Do you want to learn more about Tokyo’s vision for finance ? ??
??At WAIFC’s Annual General Meeting in Tokyo, we met with Mr Chairman of FinCity.Tokyo (東京国際金融機構) to discuss the financial center's role in our alliance and better understand Japan’s vision of finance. During this distinguished event, we had the opportunity to speak with Mr Chairman Hiroshi Nakaso about FinCity.Tokyo (東京国際金融機構) pivotal role within WAIFC and the potential opportunities and challenges facing the global financial industry.
??Read the full article: https://lnkd.in/e7BHAu9x
#WAIFC members had the incredible opportunity to visit the Tokyo Stock Exchange with members of the WAIFC, where we were warmly welcomed and given a tour of this iconic institution. It was an inspiring experience to be in the heart of Japan’s financial hub, especially being so close to the location of Japan’s very first bank: A visit filled with rich history and exciting conversations about the future of finance.
?? Looking forward to building on these connections and insights.
An Insightful Morning in Osaka with Officials We had the honor of participating in an exceptional meeting at the Osaka Prefecture with members of the WAIFC, joined by the Governor of Osaka, the Vice Mayor, and a Japanese delegation from the financial sector. ?????? Very important discussions took place regarding future collaboration with World Alliance of International Financial Centers (WAIFC) and Osaka in the financial sector. ?? International financial centers are essential to supporting both the private and public sectors, helping to strengthen the economy and the financial industry through key projects. ???? A special thank you to FinCity.Tokyo (東京国際金融機構) and Keiichi Aritomo and his team for organizing this remarkable event.
Abu Dhabi Global Market?(ADGM)
ALDAR and Mubadala have officially broken ground on One Maryah Place, a landmark commercial development on Al Maryah Island. As a prominent international financial hub, ADGM continues to drive economic growth and attract global corporations to Abu Dhabi. One Maryah Place will provide 98,000 square meters of premium office space, reinforcing ADGM’s status as a key destination for leading financial institutions. With seamless connectivity to major locations on Al Maryah Island and beyond, this project will further elevate the region’s thriving commercial landscape.
Astana International Financial Centre?(AIFC)
?? AIFC Studio: interviews with experts
??In this episode, we speak with Dolly Ramaiya, a fintech expert with 17 years of experience in the GCC region. The discussion covers the evolution of the fintech landscape and key factors driving the Fintech Revolution. She also shares insights from launching YAP, the UAE’s first independent digital banking platform, focusing on innovation, regulatory strategies, and securing investments. The benefits of the venture studio model are explored, along with the approach to building strong teams for success. ?
? Additionally, D. Ramaiya touches on how Truleum Studio supports startups through financial and non-financial guidance, including a Memorandum of Understanding with AIFC, which fosters collaboration. The conversation also delves into strategies for attracting capital and ensuring sustainable investments.
??Watch the full interview via the link: https://lnkd.in/dfzCSj2K?
Busan Finance Center?(BFC)
BFC is pleased to share Korea’s recent success in maritime finance.
On October 1st, Korea Ocean Business Corporation(KOBC, ????????) successfully issued a CHF 100 million (approximately USD 120 million) bond with a 4-year maturity at a 0.95% interest rate in the Swiss financial market.
This is KOBC’s first non-USD bond issuance, with a 4-year fixed rate. It has the lowest interest rate for Korean bonds since KDB’s June 2021 Swiss franc bond and the lowest spread among Korean bonds issued this year (55 basis points over the 4-year SARON Mid-Swap, with a 0.985% coupon rate).
The funds will be swapped into US dollars and used to strengthen Korea’s maritime industry, including securing eco-friendly fleets, as well as investing in port and logistics infrastructure.
With the CHF bond, alongside its USD 600 million bond in April and USD 400 million Formosa bond in July, KOBC has raised approximately USD 1.12 billion this year, diversifying into non-USD markets.
We look forward to continued success for Korea in maritime finance.
Casablanca Finance City?(CFC)
Casablanca Finance City is proud to announce that Lamia MERZOUKI, its COO, has been elected Chair of the World Alliance of International Financial Centers (WAIFC) during the Annual General Meeting held in Tokyo on October 15th. She will be succeeding Keiichi Aritomo, CEO of Tokyo.fincity. ?
Lamia has been Vice Chair of the WAIFC over the past two years, where she had the opportunity to drive and contribute to several initiatives aimed at enhancing the attractiveness and expertise of International Financial Centers. ?
Her mandate will begin in January 2025, alongside Hubertus V?th, CEO of Frankfurt Main Finance, who has been elected Vice Chair. ?
Casablanca Finance City is honored by the trust of the International Financial Centers members of the WAIFC, and is committed to strengthening collaboration and fostering impactful initiatives across the global financial ecosystem.
Dubai International Financial Centre?(DIFC)
Are you a food lover? #DIFC is a culinary haven. From gourmet restaurants to charming cafes, it’s the perfect place to explore unique flavors and unforgettable dishes.
Economic Development Board Mauritius?(EDB)
SheTrades Mauritius Hub: Workshop on New Budgetary Measures for Businesses
The SheTrades Mauritius Hub, operating under the Economic Development Board (EDB), hosted a workshop on new budgetary measures for women-led businesses on Thursday, 3rd October 2024. The objective of this event was to increase awareness about recent budgetary measures and their potential impact on women-led businesses.
??Read more - https://lnkd.in/gy8KBVP2
Key representatives from the Mauritius Revenue Authority (MRA) participated in the workshop, providing insights into tax reforms, incentives, and other financial measures designed to benefit women-led businesses in Mauritius. The session provided a platform for entrepreneurs to understand and leverage these new provisions to strengthen their businesses and promote gro
EnterpriseNGR
FinanceMalta
FinanceMalta is proud to announce that the Foundation’s Chief Strategy Officer, Dr. Bernice Buttigieg, has been appointed to the Board of the World Alliance of International Financial Centers (WAIFC) during the WAIFC Annual General Meeting (AGM) held earlier this morning in Tokyo, Japan.
The WAIFC fosters global collaboration between financial centers, enabling the exchange of best practices and promoting open communication with the public.
Dr. Buttigieg’s appointment not only strengthens #Malta’s role within this prestigious global organization but also underscores the country’s growing influence in the international financial sector. ?
FinanceMalta has been a proud member of the WAIFC since 2022.
Financial Services Authority Oman (FSA)
The Financial Services Authority ?? approves the results of allocating the largest IPO in the history of the Omani capital market.
FinCity.Tokyo
<Why do we need Growth Capitalists in Japan?>
● A well-functioning investment chain requires enhanced roles played by both asset owners and asset managers. In the area of asset management, a new breed of asset managers called “Emerging Asset Managers” are expected to function as intermediators of capital for growth, or Growth Capitalists (GCs). An emerging manager typically refers to an independent and active asset manager who has high investment skill in generating higher returns (or alpha), but with relatively small size in terms of assets under management and a short track record.
● In Japan, as indicated in the lower left corner of the chart, it is often the case that venture capitalists (VCs) focus on short-term listing goals and only invest in companies between the founding stage and IPOs. Once they are gone the post-IPO companies are left unattended with small market capitalization, deprived of growth opportunities after the IPOs, even with potential. Growth Capitalists, as circled in the red dotted lines, are expected to fill the gap by providing support for companies after their IPOs to make sure they remain on a sustained growth path. Alternatively, they could privatize the listed companies again to revert to a missed growth trajectory.
领英推荐
● Against this background, the government decided to promote new entry by domestic and foreign emerging asset managers through the so-called “Emerging Manager Program (EMP)”, which typically requires large asset owners and institutional investors to allocate a portion of their funds to emerging asset managers. ?
↓ Public-private initiatives to support new entrants of emerging asset managers (Japanese EMP) by Financial Services Agency, Japan (JFSA, 金融庁) : https://lnkd.in/g9Nfeead
Frankfurt Main Finance?(FMF)
??? The 76th Frankfurt Book Fair will soon open its doors and we are delighted that Frankfurt will once again become the center of literature, culture and international debate! Under the motto "FBM24 is Read!ng – Read. Reflect. Relate.", the book fair from 16 to 20 October offers numerous highlights for readers, publishers and the global publishing industry.
This year, the Guest of Honour Italy will be in the spotlight, with exciting discussions and readings by renowned authors such as Roberto Saviano, Alessandro Baricco and many more. ??????
In addition, the new format "Frankfurt Calling – Perspectives on Culture and Politics" brings international perspectives on important global issues such as democracy, artificial intelligence and climate change.
Don't miss out on this literary and cultural event! You can find out more about this year's Frankfurt Book Fair and the most important program items here: https://brnw.ch/21wNM8Q
Future Finance Poland
?? On October 4th, the highly anticipated premiere of the report prepared by Kantar for Future Finance Poland - "Global Trends in Financial Services", was held at the PKO Bank Polski Rotunda. ?
?? The report's launch catalyzed discussions on several key topics, including consumer behavior, emerging technologies, regulatory developments, and digital security. ?
??? Our discussion underscored the importance of such reports and the value they bring. I can confidently state that we will continue to collaborate with our partners to deliver further insights.” - said Pawel Widawski? Widawski, CEO of Future Finance Poland. ?
?? We extend our gratitude to all the panelists for their valuable contributions and to our partners for developing such a comprehensive and impactful report.
Micha? Macierzyński, PhD, Lukasz Gradowski, Mariusz O?ga, Weronika Chrzanowska, Robert Krosnowski, Piotr Brewiński, Katarzyna Multan, Kasia Jedlińska, Gabriela Mrozek, Zuzanna Krauzowicz
Hong Kong Financial Services Development Council?(FSDC)
???????? ???????????????? ?????? ???????????? ?????????????? ???????????
#FSDC supports the Chief Executive's third Policy Address, fostering a diversified, innovation-driven economy to enhance #HongKong's prosperity and global relevance.
Mr Laurence Li SC, FSDC Chairman, emphasized Hong Kong’s role as a #globalconnector, granting us unparalleled access to global capital, creating a platform for #innovation, #investment and #collaboration across borders.
Dr King Au, FSDC Executive Director, highlighted the significance of fintech innovation in maintaining Hong Kong’s competitive edge in a digital economy."
We are encouraged by initiatives to strengthen HK’s #IFC status and competitive edge, including boosting offshore RMB business, enhancing the asset and wealth management sector, and the "Study in Hong Kong" brand to attract talent from #ASEAN and #BeltAndRoad countries.
#FSDC is optimistic about meaningful and sustainable advancements in our city’s financial services sector and stands ready to support successful implementation.
#FSDC #PolicyAddress2024 #IFC #FinancialHub #GlobalConnectivity #HongKong Financial Services and the Treasury Bureau (FSTB)
Istanbul Financial Center
Istanbul Financial Center has joined the World Alliance of International Financial Centers (WAIFC), the global organization uniting leading financial hubs. This membership connects Türkiye to a wider network of financial expertise, strengthening its role as a strategic hub.
Jersey Finance
?? Tokenization is set to transform the funds sector and Jersey’s role in this exciting space is growing. We’ve created an online hub to bring together all our resources. It includes podcasts, case studies, articles, webinar recordings and research, as well as information on related upcoming events. Explore our hub for essential insight on this space and learn about Jersey’s expertise in virtual assets, token issuance, tokenization platforms and structuring for the securitization of real-world assets.
#FundManagers #AlternativeInvestments #CorporateServices #PrivateEquity #InvestmentFunds #AssetManagement #Tokenization #DigitalAssets #DigitalAssetManagement Elliot Refson Yiow Tan Nicola Le Brocq Philip Pirecki
Kigali International Financial Centre?(KIFC)
Last week at #AFSIC2024 in London, Kigali International Financial Centre and Rwanda Social Security Board (RSSB) co-hosted the Rwanda Investment Summit. The High Commissioner of Rwanda to the UK, H.E. Johnston Busingye alongside our Chief Investment Officer Jean-Marie Kananura, highlighted KIFC's growing status as a prime destination for investors seeking opportunities across Africa and a gateway for international capital flow in Africa.
The summit featured a panel discussion on "Rwanda’s Role as Africa’s Rising Investment Powerhouse," with representatives from RSSB, Enko Capital, DTOS, and Admaius Capital Partners. They shared success stories and insights on operating within KIFC, further highlighting Rwanda's increasing appeal in the global investment landscape.
Luxembourg for Finance?(LFF)
That's a wrap on our inaugural Digital Finance Forum! From tokenization and CBDCs to AI and cybersecurity, we explored how digitalization is reshaping the entire value chain within financial services. Missed the live event? You can still catch up on all the valuable discussions by watching the replay.
Click the link below and stay up to date with the rapidly evolving work of digital finance.
#DigitalFinance #FinTech #Blockchain #AI #Luxembourg #Finance #Innovation Judith Bogner Ronit Ghose Emilie Allaert Rhomaios Ram Steve Jacoby Thilo Derenbach John O'Neill Basak Toprak Martin Watkins Chris Hollifield John Cronin Biba Homsy Ami Nagata Dariush Yazdani Thibault de Barsy Nadia Manzari Dr. Jochen Papenbrock Pascal Steichen Thomas Berger
Paris EUROPLACE
Join us for the Inaugural Day of #ParisInfraWeek on Monday, November 4! Scaling up electricity production and transmission is one of the main challenges of decarbonizing the economy through infrastructure. The fifth plenary session of the day, focused on this topic, will be moderated by Boris Martor, Partner, Bird & Bird, and will feature: ??? Thomas Beaumont, Head of Energy Origination, BNP Paribas ??? Eric Meyer, Managing Director France, RBC Capital Markets ??? Oliver Schubert, Partner, Copenhagen Infrastructure Partners ??? Elliot Slocombe, Head of Project & Export Finance, Europe, International & Institutional Banking, ANZ
Register to attend a day dedicated to #infrastructure driving global #decarbonization ?? https://lnkd.in/dtAq2VC
Find the full program here??? https://lnkd.in/dMJawCzi
Qatar Financial Centre?(QFC)
At Qatar Real Estate Forum’s insightful panel on “The National Economy: Development & Investment Opportunities,” our CEO, Yousuf Al-Jaida, shared valuable perspectives on how Qatar’s economic landscape continues to evolve. ????? Held at the Doha Exhibition and Convention Center, the session delved into key opportunities for growth and investment, highlighting Qatar’s ongoing initiatives to foster a robust, diversified economy. We are proud to be part of this critical discussion shaping the future of Qatar’s economic development. ????
Stuttgart Financial
TOMORROW: Intermediate conference of the CREATE project Last chance to secure places! The interim conference of the CREATE project starts tomorrow – join us and learn all about the latest trends and innovations in the field of corporate & sustainable finance.
?? Date: 15.10.2024
?? Time: From 3:00 p.m.
?? Location: Online (details after registration)
You can expect exciting lectures, practical deep dives and insights into topics such as: ?? Current interim results of the CREATE project ?? Innovative solutions to reduce CO2 impact Highlights: An inspiring keynote speech by Prof. Dr. Tobias Popovic and an insightful panel discussion on cooperation between financial and energy consultants, moderated by Dr. Max Weber. Take advantage of this last opportunity to secure your place and join the exchange on forward-looking solutions in the field of sustainable finance! ????
?? Registration: https://lnkd.in/eS6t9EsV
?? Further information: https://lnkd.in/eqKvqVKE
TheCityUK
Our CEO, Miles Celic, met with the Governor of the Tokyo Metropolitan Government today to discuss the strong ties between the UK and Japan. The two international financial centers, London and Tokyo, are collaborating closely on sustainable finance, asset management, and innovation. It was a valuable opportunity to share ideas on how to strengthen our relationship moving forward.
Many thanks to Emil Levendoglu at the British Embassy Tokyo (UK in Japan), the City of London Corporation, and FinCity.Tokyo (東京国際金融機構) for their great support and collaboration.
Two Rivers International Finance & Innovation Center
World Alliance of International Financial Centers (WAIFC) is pleased to announce the addition of Two Rivers International Finance & Innovation Centre SEZ as a New Member! Our CEO- Brenda Mbathi proudly received the decision during the WAIFC's General Meeting in Tokyo, Japan.
TRIFIC SEZ is Kenya's first and only business services-focused Special Economic Zone offering a competitive gateway to regional and international markets for service-oriented enterprises and investment-focused entities. W
AIFC is a non-profit association registered in Brussels, Belgium, which represents leading international financial centers and facilitates cooperation and the exchange of best practices. 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.
With the inclusion of Nairobi, the WAIFC's network now extends to 28 financial centers across four continents. Strengthening the WAIFC's leadership and expertise in the global financial services industry.
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
Founding Board Member of the International Digital Economies Association
Mentor at Cyberport in Hong Kong, OneEleven in Toronto, the Plug and Play Tech Center, the 1871 FinTech Innovation Lab in Chicago, and 1000 Black Voices
Advisory Board member of several FinTech companies
About the WAIFC:
The?World Alliance of International Financial Centers?(WAIFC) is a non-profit association registered in Belgium representing?28 leading international financial centers globally.
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.