Financial Center News #113

🔔 Read the latest World Alliance highlights in our July 2025 newsletter.

🎙️ In this issue, we feature an exclusive interview with Philippe Richard, Executive Director at ADGM, who shares insights on: ✅ The kickoff of the WAIFC AI Project 🤖 ✅ Why international financial centers must collectively explore AI's impact on global finance ✅ The roadmap toward a white paper by year-end

🌐 Philippe Richard emphasizes: "AI is already transforming the financial sector and our way of thinking. This is why WAIFC must take the lead in understanding risks, opportunities, and best practices."

📩 Plus, in this edition: - Casablanca Finance City drives carbon market development in Africa - New leadership at Kigali International Financial Centre. - TheCityUK supports Ukraine's recovery through insurance innovation - Luxembourg for Finance unveils strategic reforms in fintech and private assets And many more updates from members across the globe.

📬 If you received this from a colleague or friend, don't forget to subscribe for future editions. 📲 Read the full newsletter here: https://lnkd.in/eKqBp-i5

🔔 Today, we are proud to highlight two strategic reports from our members, shedding light on two pillars of World Alliance of International Financial Centers (WAIFC)'s mission: Sustainability & the Role of Financial Centers.

🌍 1. "Catalyzing Africa's Sustainable Transition" Published by Casablanca Finance City, this 10th edition of Africa Insights explores how sustainable finance can drive climate-resilient growth across the continent. The report provides business opportunities, capital mobilization strategies, and policy recommendations to support Africa's green transformation. 📲 Download the report: https://lnkd.in/e6zkBf6c

🏛 2. "Competitiveness of European Financial Services" In partnership with OMFIF, Luxembourg for Finance delivers a comprehensive analysis of Europe's position in global finance. It examines how financial centers must adapt—through integration, innovation, and scale—to remain global leaders. 📲 https://lnkd.in/es6t-4iA

At WAIFC, we see sustainability and the strategic role of financial centers as fundamental levers for economic transformation. These reports are valuable contributions to shaping the future of finance.

💼 We encourage financial professionals, regulators, and policymakers to dive into these timely insights.

Wondering what it's like to be part of our Entrepreneurship Program?

This segment of the 'Mentors Answer Your FAQs' series breaks down what you can expect: hands-on learning, expert mentoring, the time you'll need to invest, and more.

The program is open to all Al Ain residents and is delivered by ADGM Academy in collaboration with the Khalifa Fund | صندوق خليفة.

Visit https://lnkd.in/dzhzBQCG to learn more and register!

🎾 Registration is now open for the Kazakhstan Squash Championship!

Astana Squash Open 2025

🎉 On September 5–6, the Kazakhstan Squash Federation will host the Astana Squash Open as part of Astana Finance Days 2025.

This tournament is open to all local and international players not suspended or disqualified by #WSF or #ASF.

The event will follow the official rules of the Asian Squash Federation (ASF), available on the ASF website.

🎯 Registration deadline: August 25 🎯 Entry fee: $80 🎯 Official dinner included 🎯 Tournament merchandise

🔗 Click here for registration: https://lnkd.in/dBQHQ2gp

#BFC FINANCE

🌊 #Busan: Korea's Emerging Maritime Capital

Busan is setting sail toward becoming Korea's #Maritime Capital, powered by national-level policy support and forward-looking presidential initiatives:

🏛️ The relocation of the Ministry of Oceans and Fisheries to Busan 🏦 The launch plan for the Southeast Investment Bank 🌐 And strategic efforts to pioneer the Arctic Shipping Route

These bold moves represent a national vision to anchor Busan as the core of Korea's maritime economy.

At the heart of this transformation is #maritime #finance.

As the only city in Korea with a dedicated marine finance cluster, Busan is already home to leading institutions supporting:

⚓ Ship finance and refund guarantees 🌱 Green vessel transition funding 🪸 Blue carbon initiatives such as seaweed-based carbon absorption 🛳️ And investment in future-proof port and shipping infrastructure

At #BusanFinanceCenter, we're building the financial ecosystem that enables capital to flow into the sea.

Casablanca call to action to accelerate African integration.

Casablanca Finance City and African Development Bank Group co-hosted a high-level event on "Connecting Africa – the AfCFTA Agenda."

The event brought together leading regional institutions and prominent private sector players — including African Export-Import Bank (Afreximbank), Uma, African Union Development Agency-NEPAD, BOAD, CGEM, OCP Group, Attijariwafa bank, Tanger Med, Orange, Africa50 Group, and Boston Consulting Group (BCG) — to align on key priorities for advancing AfCFTA.

Participants called for the creation of a dedicated private sector platform focused on four operational pillars: • Accelerating market access • Bridging infrastructure gaps • Deepening financial integration • Empowering financial and business hubs

This platform would serve as a strategic tool to amplify private sector leadership in implementing AfCFTA.

Today's first half results from #DIFC fuel #Dubai's economic vision (D33) and demonstrate global leadership in financial services and innovation. With a 32% increase in new firms year-on-year which takes the total number of active companies to 7,700, DIFC is accelerating growth across all sectors including hedge funds, wealth and asset management, banking and capital markets, insurance and innovation, cementing its role as the region's leading financial hub.

Discover more: https://lnkd.in/d6QUAuwh

The Economic Development Board (EDB) is pleased to invite local artists to participate in the 4th collective Art Exhibition.

This initiative aims to promote the work of artists residing in the Republic of Mauritius and Rodrigues and create opportunities to network with foreign investors and other stakeholders who visit the EDB offices on a daily basis.

The closing date to submit your proposal is by latest on 25 August 2025 by 15.00 hrs.

🔗 Learn more about application details: https://lnkd.in/dEf8zcsY

“We need to relook how Nigeria collects data, manage that data, the governance around it and ensuring accuracy.” - Obi Ibekwe CEO, EnterpriseNGR

Watch full conversation 👇🏽 https://lnkd.in/etdXp_A4 YouTube: https://lnkd.in/eU4fVhZS

++FM 18th Annual Conference – Closing Tax Panel++

🎙️ Juanita Brockdorff, Founder, Brockdorff Grech Law

Buy tickets 👉 https://lnkd.in/eKsEDY4G

We're proud to welcome Juanita Brockdorff, founder at Brockdorff Grech Law, who will join the closing panel on Day 2 of the 18th Annual Conference.

She'll offer legal and strategic insight into how Malta can navigate global and EU tax reforms while remaining competitive, transparent, and investor-friendly.

📊 We follow up to ensure the best ✨

This meeting reflects the FSA's commitment to ensuring proper use of the "Dhamani" platform, in line with official guidelines to guarantee quality and transparent insurance services ✅

#Newsletter | Insights from Frankfurt – where finance meets global perspective 👇

🌐 #FrankfurtGoesGlobal: With a keynote at the Chengdu Finance Week 2025 and an interview at the Luzijan Forum in Shanghai, Frankfurt Main Finance underlines the international relevance of Germany's financial center. Trust, reliability and a clear view on opportunities – that's what drives Frankfurt's dialogue with the world.

🏙️ #FrankfurtLife: The ECB building may be known for its iconic twin towers—but at its base lies the historic Großmarkthalle, heart of the "New Frankfurt" movement. As this visionary urban renewal project turns 100 in 2025, Frankfurt reflects on a legacy of innovation, social responsibility, and modern design that still shapes the city's global outlook today.

🚀 #StartupEcosystem: Big win for Futury! As one of the selected winners of the BMWi's EXIST Lighthouse Competition, Futury is now officially a national Startup Factory—driving innovation from research to market in Frankfurt Rhine-Main. Backed by 29 corporate partners and four universities, Futury is set to launch up to 1,000 science-based startups by 2030.

Read more here 👉 https://brnw.ch/21wUrzm

We are pleased to welcome Santander Bank Polska as the newest member and partner of the Future Finance Poland ecosystem.

As one of the largest financial institutions in Poland and a key part of the global Santander Group, Santander Bank Polska brings deep market expertise, a strong innovation culture, and a clear commitment to shaping the future of digital finance.

With a wide portfolio spanning retail, SME, corporate, and investment banking, the bank has consistently led the way in digital transformation—delivering modern solutions that enhance customer experience and strengthen operational resilience. From AI-powered customer service to cutting-edge mobile banking tools, Santander is actively setting benchmarks in the financial services landscape.

We are excited to collaborate with Santander Bank Polska to drive forward our shared mission: positioning Poland as a European leader in future-ready financial services and modern payments.

Welcome aboard!

🌟 A Thought-Provoking Exchange on AI, Talent, and Global Finance

The FSDC co-hosted an inspiring Sci-tech Finance Dialogue with the International Finance Forum (IFF) this week, marking the launch of the Global AI Competitiveness Index Report III.

Developed by the IFF in collaboration with Deep Knowledge Group and supported by insights from the FSDC, the report analyses global AI talent distribution, skills gaps and mobility trends while exploring future potentials.

Our Executive Director, Dr King Au, joined speakers from the IFF in a dynamic discussion on how AI governance, #TalentMobility, and industry innovation are reshaping financial systems.

The conversation highlighted Hong Kong's strategic position — bolstered by its robust common law system, free capital flow, and status as a data port— as a global-facing pilot site for #CrossBorder, #OpenSource #AISandbox cases.

By fostering thought leadership, the FSDC remains dedicated to supporting Hong Kong's development as a leading global financial hub for all.

Where vision meets infrastructure. Istanbul Financial Center redefines how and where finance works. Become a part of the new era in Türkiye's financial ecosystem.

Start your journey today: https://lnkd.in/dxA9i6YC

🌟 Can you spot yourself on the pink carpet? 🌟

Earlier this month, we brought the industry together for our Rising Stars Awards Ceremony, celebrating the incredible achievements of this year's nominated talent. It was a fantastic evening filled with energy, inspiration and connection, surrounded by hardworking, ambitious professionals who are shaping the future of finance and professional services.

📸 Catch the highlights including the full winners list, event video and photo gallery, now live on our website: https://jsy.fi/4f8edGm

We extend our heartfelt congratulations to Nick Barigye, our former CEO, on his appointment as Deputy Governor of National Bank of Rwanda (NBR).

Nick's leadership was instrumental in positioning Rwanda as a competitive and trusted financial jurisdiction across the continent and beyond.

His vision, integrity, and unwavering commitment to excellence will undoubtedly continue to elevate Rwanda's financial sector.

We wish him continued success in this important new chapter!

Luxembourg's dynamic labor market is not only a springboard for young professionals - it also offers tangible financial incentives.

From 2025, employees under the age of 30 signing their first employment contract in Luxembourg will be eligible for a tax-free bonus paid by their employer. This bonus can benefit from a tax exemption of up to 75%, with amounts ranging from €2,500 to €5,000, depending on salary level (up to a gross annual income of €100,000).

This is just one of several advantages making Luxembourg an attractive destination for young talent.

Explore more in our latest article: https://bit.ly/4mofHid

33% of workers in the QFC financial sector are women, far above the national average. 👩

This finding from a new policy brief, developed by QFC's Employment Standards Office in collaboration with the International Labour Organization and Hamad Bin Khalifa University, reflects our commitment to inclusive growth and workforce diversity.

🔗Read the full brief: https://lnkd.in/dUdYxrQT

We were very pleased to attend the Ukraine Recovery Conference (#URC2025) in Rome as part of our work with The City-Ukraine Hub. This event is a pivotal platform to reaffirm our commitment to Ukraine's recovery and long-term development.

Our engagement included a full program of activity, from co-hosting a joint stand with the London Stock Exchange Group at the URC Business Fair, to contributing to high-level discussions on green finance, investment mobilization, trade finance, insurance, and governance reform.

As speakers at key events, our team helped shape the dialogue on Ukraine's financial future — covering topics ranging from carbon markets and blended finance models to unlock capital for renewable energy and sustainable development, to export finance, risk mitigation, infrastructure, and advanced manufacturing.

These discussions explored strategic investment partnerships and addressed the investment climate, legal frameworks, and public-private collaboration.

These engagements are part of our broader The City-Ukraine Hub initiative, launched in 2023 with the Ministry of Economy of Ukraine and the London Stock Exchange. The Hub supports capital markets reform, SME growth and access to finance, foreign direct investment attraction, and institutional capacity building.

All of this aligns with the UK–Ukraine 100-Year Partnership, which builds the financial and institutional foundations for a resilient, modern Ukrainian economy.

We're grateful to Foreign, Commonwealth and Development Office, Department for Business and Trade and all our partners whose continued support makes this vital work possible.

I'm happy to share that I'm starting a new position as Head of Business Development at TRIFIC SEZ!

This promotion comes exactly 23 months after joining TRIFIC as Business Development Coordinator, transitioning from a background in Cybersecurity and IT.

Over this period, and under the visionary leadership of Centum Investment Company Plc. Group CEO, Dr. James Mworia, MBS and Brenda Mbathi, CEO of TRIFIC SEZ I've gained firsthand experience in originating and closing high-impact memberships and transactions, that have significantly advanced our mission.

Looking forward to this next chapter of growth, impact, and opportunity.