Financial Center News / 01 November 2024
Jochen Biedermann
Managing Director World Alliance of International Financial Centers (WAIFC), Managing Partner FinTech Consult
WAIFC
⏳ The #WAIFC will participate in the Warsaw Finance Week, hosted by our member Future Finance Poland.
🎙 The panel “The need for new talent in the leading financial centers and how to address it” will tackle the essential task of building strong talent pools around financial centers and attracting fresh talent to drive growth.
🌟 Key topics will cover the rise of artificial intelligence and the new skill demands it brings, the importance of lifelong learning for professionals, and the commitment to inclusivity in the industry.
🎤 Speakers: - Jochen Biedermann, Managing Director World Alliance of International Financial Centers (WAIFC)
- Lynn Robbroeckx, Secretary General Luxembourg for Finance
- Olivier Vigna, Deputy CEO Paris Europlace
- Scott Devine, Head of Europe TheCityUK
📲 Register for Warsaw Finance Week here: https://lnkd.in/eubB_SjQ
📬 WAIFC October 2024 Newsletter is Out Our latest newsletter is filled with updates from across the World Alliance of International Financial Centers (WAIFC) members. Here is a quick look at what’s inside:
🔹 Voices: An insightful interview with Myongho Rhee, President of the Busan Finance Center, discussing Busan's ambitions as a global maritime finance hub and reflections from our AGM in Tokyo.
🔹 New Report on Digital Sustainability: Our new white paper explores how financial centers are driving sustainable finance through digital solutions and public-private collaboration. 🌱
🔹 AGM 2024 Highlights: Hosted by FinCity.Tokyo (東京国際金融機構), this year’s AGM brought together global leaders to discuss key financial developments, with exciting new initiatives and awards announced. 🏆
🔹 Young Academic Award Winners: Congratulations to the top researchers Tammaro Terracciano, Bodun Adebayo and Regean mugume for their outstanding work. 🌍💼
🔹 New Members & Collaborations: Welcome to Istanbul Financial Center and Two Rivers International Finance & Innovation Centre SEZ (Nairobi), joining our growing global network. 🌐
🔹 Special Focus on Japan: A successful week in Tokyo, Osaka and Fukuoka saw impactful discussions on collaboration.
📲 Dive deeper into all these updates and stay connected with WAIFC’s mission: https://lnkd.in/eW9f2vYn
If you are not already subscribed, be sure to sign up (free): https://lnkd.in/eEs4uwvF
#WAIFC #GlobalFinance #FinancialCenters #Sustainability #Innovation #InternationalCollaboration #Newsletter
Abu Dhabi Global Market (ADGM)
Today, ADGM proudly introduces a new identity that reflects our vision of what the future of finance can be. This rebrand is not merely a change in appearance but a renewed promise to create a global environment where ambition, opportunity and positive impact find their place in the world of finance. As we step into this new chapter, we extend an invitation to those who believe in purposeful growth to join us in setting the pace for the path to forward.
Astana International Financial Centre (AIFC)
Visiting the New York Stock Exchange felt like stepping into the very heartbeat of global finance. Established in 1792 through the historic Buttonwood Agreement, the NYSE began humbly – just 24 brokers conducting business on a handshake in a coffee shop at Wall and Water Streets. Seeing that original, single-sentence document, which laid the foundation for U.S. capital markets, was a powerful reminder of how far the world of finance has come.
The Trading Floor was an exciting experience. There's an intensity in the air that’s unmatched – one of the last places where live trading happens daily, with 500 to 1,000 brokers orchestrating trades in real time.
Adding to the tradition was the ceremonial ringing of the opening and closing bells. We had the privilege of watching Paramount Group’s CEO, Albert Behler, ring the opening bell in celebration of their 10th listing anniversary – a tradition that underscores the NYSE’s long-standing influence and prestige.
The NYSE is a powerful reminder that even the grandest legacies begin modestly. As our Astana International Exchange (AIX) celebrates its sixth year, reaching over $2 billion in turnover – with half of that achieved just this year – there’s a compelling sense of possibility. The potential is boundless, and we are ready to shape the next chapter for Kazakhstan’s markets.
Busan Finance Center (BFC)
Casablanca Finance City (CFC)
Casablanca Finance City had the pleasure of hosting a delegation from Mouvement des Entreprises de France, the French business federation. This meeting reflects CFC’s ongoing collaboration with MEDEF to help attract French businesses looking to expand into Africa through Morocco. We look forward to continuing this dialogue on November 7th in Paris at MEDEF International, where the CFC team will be delighted to connect with affiliated companies.
Dubai International Financial Centre (DIFC)
#DIFC is a driving force behind #Dubai becoming a megaregion as a result of having an emphasis on technology, transformative regulation and talent. This was a key insight from Arif Amiri, our Chief Executive Officer at the #FII8 today. Dan Murphy from #CNBC facilitated an engaging discussion on building megaregions of the future.
Economic Development Board Mauritius (EDB)
𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝗶𝗻 𝗙𝗗𝗜 𝗳𝗼𝗿 𝗙𝗶𝗿𝘀𝘁 𝗛𝗮𝗹𝗳 𝗼𝗳 𝟮𝟬𝟮𝟰
The Bank of Mauritius has published the latest figures for Foreign Direct Investment (FDI) flows, revealing a promising trend for the first semester of 2024. FDI flows in Mauritius have been estimated at Rs15.9 billion for the first half of 2024 (2024H1), marking a notable increase from Rs13.5 billion during the same period in 2023. This represents a 17.8% increase in FDI inflows. The primary sources of these investments were France and South Africa, highlighting the continued confidence of these countries in the Mauritian economy. FDI from France increased from Rs 2.8 billion to Rs 5 billion, while South Africa saw an increase from Rs 1.5 billion to Rs 2 billion.
👉 Read more: https://lnkd.in/dpTnZZH7
EnterpriseNGR
FinanceMalta
We are pleased to announce the final four sponsors supporting the FinanceMalta 17th Annual Conference, themed "Empowering Financial Services."
Fino - Connections Lounge Sponsor.
Reed - Gold Sponsor.
LifeStar Insurance plc - Media Sponsor.
Diaman Partners Ltd - Stand Sponsor.
Explore the confirmed speakers, view the conference agenda, and secure your tickets now by visiting the FinanceMalta 17th Annual Conference website 👉https://lnkd.in/gi_Bat8t
Financial Services Authority Oman (FSA)
The Financial Services Authority issues a circular to enhance the proportion of national personnel in audit and review teams for government institutions and public joint-stock companies.
FinCity.Tokyo
<Cashless payment ratio of Japan 2023>
Ministry of Economy, Trade and Industry has been advancing efforts for promoting such payment in collaboration with related ministries and agencies aiming to achieve the government goal of increasing the ratio of cashless payment among the total amount paid by consumers. The cashless payment ratio in 2023 was 39.3%, showing a steady increase to achieve the goal of around 40% by 2025.
Frankfurt Main Finance (FMF)
🌟🌍 Just concluded an inspiring keynote at 2024 ESG Global Leaders Conference, where global leaders convened to chart a sustainable path forward: shaping a greener, more equitable future.
📊 At this landmark event, we explored pivotal themes like energy transition, carbon neutrality, and green finance through nine parallel forums covering over 50 core topics. My speech focused on the urgent need to adapt our business models to account for a new understanding of value creation—embracing net zero, nature positivity, and transition pathways as our new objectives.
💼 I emphasized the importance of translating ESG metrics into the universal language. The shift from profit maximization to value optimization is not just about sustainability; it's about ensuring the survival, growth, and future readiness of our enterprises.
🌱 Germany's ambitious climate targets by 2030, which I highlighted in my speech, serve as a positive example of how we can turn challenges into value creation opportunities. With renewable energy sources already accounting for more than half of Germany's electricity supply in 2023, we have a clear roadmap for prosperity within the limits of our planet.
🌐 Let's form a global Team Planet, where we treat nature, social, and human capital with the same importance as financial capital. Together, we can integrate sustainability criteria into decision-making, steering, and external disclosure, steering our economies towards a sustainable future.
🙌 Thank you to all the organizers and participants for making this conference a beacon of hope and progress. Let's continue to drive the conversation and action towards a more sustainable world.
Future Finance Poland
🚀 Fireside chat with Mark Brzezinski, Ambassador of the United States to Poland, and Marta Zycinska, MBA, General Director, Mastercard Poland!
Recommended by LinkedIn
💠 Our esteemed guest will address a wide array of topics, encompassing a global perspective, including the role of American and European institutions in shaping the landscape of the finance and banking sectors. Additionally, the discussion will cover challenges to global economic and financial stability and will answer questions about long-term perspectives in strengthening Polish-American relations in the areas of finance, banking, and fintech. You cannot miss that ❗
➡️ Register for Warsaw Finance Week: https://lnkd.in/g92xqA6U
Mastercard PKO Bank Polski LexisNexis Risk Solutions Finanz, Inkasso- und Unternehmensdienstleistungen Bank Pekao S.A. AMLYZE Autopay BLIK ftl ITCARD Grow with Warsaw New Digital Street Polish Investment and Trade Agency (PAIH) Ministerstwo Finansów Ministerstwo Rozwoju i Technologii Ministerstwo Spraw Zagranicznych Business France Poland CCI France Pologne / Francusko-Polska Izba Gospodarcza (CCIFP) Paris Europlace World Alliance of International Financial Centers (WAIFC) Belgian Business Chamber (BBC) Dziennik Gazeta Prawna Money20/20 Nordic Fintech Magazine, The Connector. Embassy of the Republic of Lithuania to the Republic of Poland Ambassade de France en Pologne FinTech Poland TrustLynx | Embedded Trust Solutions @MERGE Pawel Widawski Piotr Brewiński, Katarzyna Multan, Zuzanna Krauzowicz, Aneta Girdwoyń (Kmoch), Gabriela Mrozek, Kasia Jedlińska, Anna Malanowska
Hong Kong Financial Services Development Council (FSDC)
We had the pleasure of organizing a productive session with #MISA during the delegation to Riyadh, gaining insights into #SaudiArabia’s #Vision2030 strategy. We explored investment opportunities in #technology, #renewableenergy and #infrastructure. MISA highlighted advantages like strategic location and supportive policies, offering mutual growth opportunities with #HongKong. This meeting fortifies HK’s partnership with Saudi Arabia, solidifying our position as a global financial nexus and super-connector. It’s a key milestone in advancing our city towards being a top-notch #internationalfinancialcentre. Coordinated by the FSDC, the delegation’s mission is aligned with our dedication to strengthening our global connectivity.
For more details, please see our press release: https://lnkd.in/gBwVsEhP
Istanbul Financial Center
Aizanoi, an ancient Roman city in Anatolia, was home to one of the world’s first stock exchange. In 301 AD, it set price controls and regulated trade.
Today, the Istanbul Financial Center builds on this legacy, creating new opportunities on historic grounds.
Jersey Finance
The "Great Wealth Transfer" presents an opportunity for Jersey to shine as a key jurisdiction for wealth management.
Tom Lovell, Investment Manager at Quilter Cheviot International, expresses the need for financial managers to adapt their strategies, focusing on robust risk management and personalized, long-term planning to protect family wealth across generations.
Sarah Bartram-Lora Reina, President of the Jersey Association of Trust Companies, highlights Jersey's strong trust laws and political stability, making it a preferred choice for ultra-high net worth clients in wealth protection and succession planning.
Anna Terry, CEO of the Jersey Community Foundation, notes the rising integration of ESG strategies by Jersey companies using Donor Advised Funds (DAFs) to support local communities and address social issues like inequality and mental health.
Emily Haithwaite, Group Partner at Ogier, points out that Jersey's flexible regulatory framework attracts ultra-high-net-worth families from the Middle East seeking bespoke wealth planning aligned with Islamic finance principles. Jersey’s professionals are leading the way in innovative wealth management and community support.
Read more on our website. https://jsy.fi/3N4qjTw
Kigali International Financial Centre (KIFC)
Yesterday, our CEO Nick Barigye, welcomed a delegation from the Federation of Polish Entrepreneurs, led by Chairman Mr. Marek Kowalski, for a courtesy visit. Discussions revolved around investment opportunities in Rwanda, KIFC’s value proposition, and its offerings as a leading financial hub in Africa.
Luxembourg for Finance (LFF)
Franklin Templeton received approval from Commission de Surveillance du Secteur Financier (CSSF), to launch Luxembourg’s first fully tokenized UCITS funds. This marks another milestone for Luxembourg, a leading global investment fund hub, as it becomes home to Europe’s first regulated UCITS fund leveraging a public blockchain via the use of proprietary transfer agent technologies.
Read more about it here: shorturl.at/U9DOL
Paris EUROPLACE
🚨 #ParisInfraWeek !
Only a few days left before kicking-off the 2024 edition with the opening speeches of :
🔹 Antoine Armand, French Minister of the Economy, Finance and Industry Ministères Économiques et Financiers
🔹 Bertrand Dumont, Director of the French Treasury, Direction générale du Trésor (French Treasury)
🔹 Augustin de Romanet, Chairman & CEO, Groupe ADP, Chairman, Paris Europlace
📍 Bercy on Monday, November 4!
See the full program here 👉 https://lnkd.in/dtAq2VC
FIN INFRA | Infravenir | InfraNum | Jean BENSAID | Jean-Charles Simon | Karim ZINE-EDDINE | Nadine Huynh | Robin Louvet Among our speakers: Thierry Déau | Vincent Levita | Estelle Castres | Mohamed Benchaâboun | Gwenola Chambon | Markus Wandt | Henrik Raber | Nicolas Rochon | Patrick Tardivy | Laurent Fayollas | Antoine Bouzanquet | Marion Calcine | Michaël Trabbia | Darko Adamovic | Alexis A. Hojabr | Fanny Mahler | Thomas Picard | Bérénice Arbona | Ilya Polyakov | Laurent Chatelin | Boris Martor | Guillaume Camus | Pierre-Etienne Franc | Patrick Dziewolski | Aurore-Emmanuelle RUBIO
Qatar Financial Centre (QFC)
Shenzhen Airlines expands to Qatar via QFC.
🛬 QFC is excited to welcome Shenzhen Airlines as they launch their direct service between Shenzhen and Doha, enhancing Qatar’s global connections. 🇶🇦🇨🇳 Shenzhen Airlines - a valued QFC client and an Air China subsidiary - will operate three weekly flights with its Airbus A330-300, offering a convenient link for Doha’s Chinese community, including employees from Huawei, BYD, and more. As Shenzhen Airlines establishes their management office with QFC, they join Xiamen Airlines, with further interest from major Chinese airlines, underscoring Qatar’s appeal as a business hub. ✈️
Stuttgart Financial
Are you a founder? And that in Baden-Württemberg? Then apply now for the Female Founders Cup 2024 from Start-up BW. The jury and online voting decide: The 10 best female founders pitch in the final. All information on participation and the application form can be found at: https://lnkd.in/eUkXjiJ8
TheCityUK
Following today’s Budget statement by the Chancellor of the Exchequer, Miles Celic, Chief Executive Officer, TheCityUK, said,
“The Chancellor has fired the starting gun to deliver the government’s priorities over the next four years. Driving growth and investment remains the key challenge here in the UK. Our services sector is central to addressing this challenge, with financial and related professional services in particular a key part of the tool kit to deliver nationwide growth. The Chancellor has taken a broadly balanced approach on tax, sought to further bolster devolution and set out some positive measures to attract investment – but the detail behind the headlines is key. It is vital that these are all addressed through a lens of long-term international competitiveness. We urge the government to consult closely and swiftly with industry and we look forward to partnering with them to deliver the growth this country needs.”
Two Rivers International Finance & Innovation Center
Our CEO, Brenda Mbathi, recently had the honor of speaking at the Manufacturing Indaba in Johannesburg, South Africa. As a panelist on "Global Trends in Manufacturing and Africa's Growth Potential," Brenda joined a distinguished group of industry leaders to discuss how global shifts are impacting Africa and what the future holds for the continent:
Lesley A Wentworth – Managing Director, Tutwa Consulting Group Valentine Jingura – Head of Business Development, FNB South Africa Commercial Pragasen Moodley – Director, Sage - Africa & Middle East Region Mark Goliath – Acting Divisional Executive: Manufacturing, IDC Ron Osman – Acting Director for Industry, AU Commission
The event showcased powerful conversations on Africa’s expanding industrial landscape and highlighted innovative approaches driving sustainable growth.
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.