Financial Center News #30

Happening today: Art x Finance, hosted by FinCity.Tokyo (東京国際金融機構) and The consortium for Japan International Asset Management Center Promotion (JIAM)

JIAM has been presenting events to explore the cross-section between art and finance. We are pleased to host our third workshop.

How can art/artists and financial services benefit each other? We are excited to have different players who will present their perspectives.

We will invite DIFC (Dubai International Financial Centre Authority) to present their initiative to promote Dubai with various artists. SMBC Prestia has been building on the interface between their wealth management customers and art. We will also be joined by Masato Suzuki, a maestro and musician.

Date and Time: January 15, 2024, 5 pm-7 pm

Location: Venue and Zoom

Venue: Book Lounge Kable

〒103-0026 3F KABUTO ONE, Chuo-ku Kabuto-cho 7-1, Tokyo （東京都中央区日本橋兄町7番1号）

Registration: https://jiam.typeform.com/to/TyOXHZKJ

Our member EnterpriseNGR is proud to present the second edition of its “State of Enterprise Report” (SOE Report 2023). The theme of this year’s report is a celebration of the intersection between art and finance, underscoring the increasing significance of art in the world of global finance. The SOE Report, a yearly publication, showcases the achievements and contributions of the Financial and Professional Services (FPS) sector to the lives of individuals, businesses, the government, and the economy of Nigeria. 📲 https://lnkd.in/dCmVS2Qg

Air Astana announces its Expected Intention to Float. Read more on the airline's website https://lnkd.in/dCzzHS_2

By @Renat Bekturov

Another great equity offering from Kazakhstan is planned to happen soon! Shares will be offered on Astana International Exchange - AIX as well!

On September 1, 2023, the #DIFC Data Protection Regulations 2020 were updated to address the rapidly developing issues around autonomous and semi-autonomous systems, i.e., artificial intelligence. Addressing ethics and governance is the next phase in implementing Regulation 10, particularly with regard to Regulation 10.3.3 – certification requirements for high risk processing vis-a-vis such Systems.

To this end, in accordance with Article 47 of the #DataProtection Law, DIFC Law No 5. of 2020 (the DP Law 2020), the Commissioner seeks to establish an Advisory Committee that will oversee the implementation of Regulation 10, including activities to support the objectives of Regulation 10.3.3. This includes but is not limited to creation of an Accreditation Body that will accredit the certification requirements as per Article 51, creation of the certification scheme itself as per Article 50, and appointment criteria for Automated Systems Officers (ASO). Please provide the information requested in this application form: https://lnkd.in/dKZkN_hG or here: https://lnkd.in/dZc6mEpV to register your interest in membership on the Advisory Committee. The deadline for applications is January 22, 2024. Read more about DIFC Regulation 10: https://lnkd.in/dtzrCHhd https://lnkd.in/d2DDfyWg https://lnkd.in/d99fhEbZ

2023 in Retrospect

By @Obi Ibekwe 2023 was an eventful year for us at EnterpriseNGR, courtesy of the huge support from our esteemed members in the Financial & Professional Services (FPS) sector, partners in both the private and public sectors and my amazing team. I am positive that 2024 will be a greater year with huge possibilities and opportunities for us to advance the mission of EnterpriseNGR, which is to champion the transformation of Nigeria into Africa's premier financial center. We kicked off 2023 with a collaboration with TheCityUK and supported the development of a roadmap for the actualization of the Nigeria Fintech strategy. In April, we achieved the significant milestone of becoming the first entity in West Africa to attain membership of the World Alliance of International Financial Centres (WAIFC). We are currently working with Mauritius, Morocco, and Rwanda to spearhead the African Chapter of WAIFC, fostering collaboration among international financial centers in Africa. In October, I was appointed to the Board of WAIFC. A groundbreaking partnership with Lagos State resulting in the inauguration of the Lagos International Financial Centre (LIFC) Council, with the mandate to position Lagos as an international financial center and a prime destination for investment; and our historic debut as the first African participants at the Lord Mayor's Show in London were some of the high points of 2023. We leveraged our participation at the Lord Mayor's Show to showcase Nigeria's vibrant business ecosystem and culture on an international stage. We also used the opportunity to strongly send the message to the international community that 'Lagos is open for business' and to launch the 'InvestLagos strategy'.

Also in 2023, we published the second edition of the State of Enterprise (SOE) Report, the first of its kind that analyzes performance in all nine sub sectors of the Financial and Professional Services (FPS) sector which include Banking, Insurance, Capital Market, etc. The findings of the Report on the impact and challenges of the FPS sector are quite instructive. The SOE Report 2023 recommends solutions to the identified challenges stunting the growth of each of the sub-sectors. See Link: https://lnkd.in/dm_f3zqq

A new Call for Expressions of Interest (EOI) has been issued in our #MembersArea. FinanceMalta is among the supporters of the JA Malta Foundation Company Programme, which offers post-secondary students the opportunity to take a business idea, formulate it, and make it a reality over the course of 9 months, all within the framework of an international network of youths. FinanceMalta will assign the Best Financial Statements Award and we would like to seek our members' cooperation in being among the judges that will decide which company deserves the award. Our #members have the opportunity to apply for: ✅ 5 Judges Apply Now 👉 https://bit.ly/3xcrQQm #FinancialServices

Several events are being brought under the Japan Fintech Week (JFW) umbrella. Overseas fintech firms wishing to break into the Japanese market- there must be something for you!

- FIN/SUM 2024 (FSA and Nikkei) https://lnkd.in/g5Yvkzm9 - Blockchain Goevrnance Initiative Network #10 General Meeting https://bgin-global.org/ - DeFi Retreat https://lnkd.in/gRGCH3CP - Japan Fintech Festival (Elevandi / Elevandi Japan) https://lnkd.in/gynmrhXn - ITC Japan (Plug and Play Japan) – Insuretech conference https://lnkd.in/gBHZPBB5 - 4F (FINOPITCH) – pitch contest https://4f-otmcbldg.tokyo/

🔍 Focus on artificial intelligence: The PwC study 'Digitalization in Finance and Accounting 2023' provides exciting insights. 🚀 Companies are increasingly focusing on digital transformation and almost 60% are already using innovative technologies. 🚀 Artificial intelligence is a key topic for more than half of the companies (62 percent) 🚀 According to the study, 58 percent of companies expect to increase the automation of auditing to a degree of 40 percent or more in the next five years. More facts and figures can be found in the new study by our member PwC: https://lnkd.in/dyjEddKp

Nominations for our 2024 #RisingStars Awards are live! A little earlier than previous years, our awards are a great way of recognising the talent within your business. There are 14 categories that cover the wide-ranging roles within our industry, including several new categories, one being an insurance category. Make sure you take a look at our website to learn more about our new categories and submit your nominations. The deadline for nominations is Friday 23 February! Nominate now: https://jsy.fi/3TPavZy #Finance #Careers #RisingStars2024 Butterfield Group HSBC Gallagher KPMG in the Crown Dependencies Standard Bank Group Stonehage Fleming TMF Group

By the @Ministry of Finance and Economic Planning

Reflecting on 2023—a year characterized by soaring prices, global financial challenges, and climate disruptions—Rwanda demonstrated remarkable resilience, maintaining a stable economy. As we embark on 2024, let's revisit key highlights from 2023. Budget: In June 2023, Rwanda presented a Frw 5 trillion budget to Parliament, aligning with #NST1 priorities. Resource Mobilization: The country successfully secured over US$ 1 billion from development partners to support infrastructure and climate resilience initiatives. Debt Management: Throughout 2023, Rwanda effectively maintained debt levels at sustainable thresholds, notably repaying a US$ 400 million Eurobond acquired in 2013. Global rating agencies, including Fitch, Moody's, and S&P, reinstated a stable outlook for Rwanda. Green Economy: At #COP28, Rwanda unveiled its inaugural green taxonomy, enabling access to green financing. Prompt implementation of reform measures under the Resilience and Sustainability Facility with the IMF resulted in the disbursement of US$ 319 million. Financial Inclusion: Automating 60% of SACCOs (260 out of 416) will significantly reduce the financial inclusion gap, allowing clients to access their accounts digitally. Public Finance Management: The number of government entities receiving unqualified opinions increased, showcasing improved public finance management. Tax Reforms: Comprehensive tax reforms, covering income tax, VAT, excise tax, and the Law determining Sources of Revenue and Property for decentralized entities, were successfully implemented. SDGs and Agenda 2063: Rwanda presented its second Voluntary National Review at the high-level political forum in 2023 on Sustainable Development Goals. Additionally, the country produced a progress report on the first 10 years' implementation plan of the African Union Agenda 2063, outlining priorities for the next decade. #YearInReview

Many thanks to Université Paris Dauphine - PSL and the M1 Finance student association for hosting LFF's Secretary General, Lynn Robbroeckx, and Senior Communications Manager Ophélie Binet, alongside our esteemed panelists: Isabelle Delas, CEO of LuxFLAG, Paula Redondo Pereira, Head of Listing & Regulatory Affairs at the Luxembourg Stock Exchange, and Petra Besson Fencikova, CFA Fencikova, Head of ESG Investment at Societe Generale Luxembourg. It was inspiring to engage with such passionate students on the vital topic of sustainable finance. We look forward to returning to the university in March to delve into FinTech and innovation. #move2lux #luxembourg #financialservices #sustainablefinance #growyourcareer #studentsuccess

The Minister of the Economy announced yesterday a law on the financial attractiveness of France in spring 2024: excellent news for all economic players in the country and in particular our financial centre, following the efforts made in recent years that have enabled France to attract many new investors and companies. Jean-Charles Simon, General Delegate of @Paris Europlace, spoke about it this morning on the morning show of BFM Business.

https://lnkd.in/eupWJiBX

The most recent Qatar Financial Centre PMI™ report for December 2023 has been released 📊 - here are the key points. Explore in-depth analyses of Qatar's private industry performance, spanning manufacturing, construction, wholesale, retail, and services, all assessed via the Purchasing Managers' Index. 🔗Access the full report: https://lnkd.in/dddN9HzZ #QFC #QFCPMI #EconomicAnalysis #QatarBusiness #Doha

⏲ One week to go until we launch our 'Key Facts about the UK as an international financial centre 2023' report. Stay tuned for the latest data showcasing the depth, breadth and global prominence of UK-based financial and related professional services.

✌ Sign up for our newsletter to be among the first to read the report when it launches and keep up to date with all our latest activities and outcomes: https://lnkd.in/e_d5NXVU #TheCityUK