Financial Center News #52

Data is to services what shipping is to goods – what happens if it can no longer flow across borders with trust? Join us for a World Alliance of Financial Centers (WAIFC) Expert Workshop: Data Flows with Trust. This interactive session will provide an opportunity to discuss current developments in data protection case law and requirements around international data flows, the challenges this area creates for our industry and potential solutions which IFCs can advocate.

For WAIFC members, observers, and other financial center representatives

Date: June 24, 2024

Time: 11.00-12.00 (BST) / 12.00-13.00 (CEST) / 14.00-15.00 (GST)

Registration and joining details:

https://us02web.zoom.us/meeting/register/tZYuceitrTwoE9xeDjjMsqN0W-TMwGEobfVO

Welcome:

•<w:t xml:space="preserve">Abdulrahim Osman, World Alliance of International Financial Centers (WAIFC)

Speakers:

•<w:t xml:space="preserve">Lori Baker, DIFC

•<w:t xml:space="preserve">Stephen Booth, TheCityUK

•<w:t xml:space="preserve">Lisa Springate, Jersey Finance

•<w:t>Paul Vane, Jersey Office of the Information Commissioner

ADGM published its April edition of ADGM Times covering all the latest news, updates and insights. Stay informed on the financial hub’s most important trends, events and innovations.

#ADGM #ADGMTimes #AprilEdition #FinancialHub #News #Updates #Insights #Trends #Events #Innovations

The AIFC, in collaboration with the startup accelerator Antler, invites Kazakhstani startups to participate in the introductory event dedicated to Antler MENAP – one of the most prestigious accelerator programs for startups in the region.

During the event, participants will be able to: • Meet the Antler team and learn about the people behind the program. • Obtain detailed information about the program structure, selection criteria for founders, commercial terms, and next steps. • Ask questions directly to one of the Antler partners and find out how Kazakhstani startups can participate in the program.

Antler MENAP plans to invest $60 million over the next 3-4 years, creating opportunities for more than 100 new companies. The program, held in Riyadh (KSA) and Dubai (UAE), will select around 80 outstanding startups from over 5000 applications. Participants in the 3-month in-person program will have the chance to find co-founders, validate their startup ideas, and secure initial investments.

Registration for the introductory event is available at the link below: https://lu.ma/30roo8c4

On May 27, 2024, the Korea Exchange (KRX) announced the ‘Busan 3.0’ plan, which includes the establishment of a Future Business Division in Busan. This new division will oversee the development of data and exchange businesses and support the startup ecosystem. As part of this initiative, the KRX plans to regularly hold IPO briefings in Busan and provide continuous IR (Investor Relations) support. They will also strengthen connections with startup support organizations based in Busan. To facilitate carbon emissions trading, KRX will introduce consignment trading through brokers starting February 2024, allowing brokers to perform professional functions such as calculating and evaluating carbon emissions, thereby revitalizing the market.

Meanwhile, Busan Metropolitan City is in the process of forming the ‘Busan Future Growth Venture Fund’ with a scale of 250 billion KRW. This fund aims to invest in Busan’s five major future industries and nine strategic industries, including digital finance, secondary batteries, and power semiconductors. The fund will see participation from Korea Development Bank ,BNK 부산은행, and Korea Venture Investment Corporation, with a focus on investing in small and medium-sized venture companies. Through this initiative, Busan aims to foster local investment institutions and attract leading investment institutions from the Seoul metropolitan area and globally.

Discover the strategic advantages of Casablanca Finance City, proudly located in Morocco.

From being an African pioneer to offering the closest proximity to Europe, and boasting multifaceted Mediterranean connections, CFC is your trusted partner for growth.

Explore the benefits of a secure and data-driven investment environment. 🔗 Visit our website to learn more.

#CFC #CasablancaFinanceCity #GlobalBusiness #InvestmentHub

You could become one of the 20 faces of #DIFC!

We are looking to hear from anyone who works in DIFC and enjoys being part of our community. Fill in the short form below and tell us in one sentence what you love about DIFC. We’ll be in touch if you are selected as up to one of 20 people to be featured on screens around DIFC later this year.

Check it out here: https://lnkd.in/eWNjZxzJ

Mauritius' remarkable economic journey is a testament to the power of vision, strategic planning, and unwavering determination.

With its GDP growth serving as a glowing indicator of success, this island nation has defied the odds and emerged as a global economic powerhouse. 👉Read the March 2024 article from capmad.com : https://lnkd.in/dbt8VB2P Strategically positioned in the heart of the Indian Ocean, Mauritius has leveraged its geographic location to its advantage, capitalizing on its proximity to thriving trade routes and dynamic markets. This strategic positioning has enabled the country to establish itself as a hub for tourism, financial services, and offshore business, driving its economic transformation. Mauritius' commitment to developing its human capital has been a key driver of its success. By investing in education, skills training, and fostering an entrepreneurial spirit, the country has cultivated a talented and adaptable workforce, ready to meet the demands of the evolving global economy. The establishment of economic transformation zones has further bolstered Mauritius' economic growth, providing a conducive environment for businesses to thrive. These zones have attracted foreign direct investment, fostering the development of diverse industries, from manufacturing to technology. As Mauritius continues to embrace the digital economy, it has positioned itself as a leader in innovation and technological advancement. This forward-thinking approach has opened up new avenues for economic diversification and growth, solidifying the country's reputation as a beacon of prosperity and progress.

#edbmauritius #economicgrowth #economicdevelopment #GDPgrowth #SustainableDevelopment

📷 Highlights from Day 1 at Money20/20 Europe!

We invite all attending delegates to visit the #Malta stand (8A30) and discover why #Malta is the ideal destination for Fintech.

#Fintech #Money2020

GCC Smart Investor Award Honors 36 Winners with Prizes Amounting to More than RO 100,000

Omani participants secure 12 wins in the Gulf Smart Investor Award 2024 in its 2nd edition; which is organized by the Saudi Capital Market Authority in collaboration with the FSA and other GCC capital markets regulators.  The number of the places competed was 36 divided into four categories which are videography, drawing, photography and writing. Groups of participants are individuals, higher education students and school students.

The winners were announced during a celebration organized by the Saudi Capital Market Authority in Riyadh and their prizes amounted to more than RO 100,000.

We have a few spaces left for the roundtable we are holding in New York to discuss how the asset management industry is brought to the center as a conduit of capital for economic growth ('new form of capitalism'), the investment opportunities and why it is a good time for US firms to come to Tokyo. If you would like to join, please DM me.

Obstacles to growth in the focus of the latest CFS survey 🔍💼

The current economic situation in Germany shows a clear need for action: Reducing bureaucracy and a shortage of skilled workers are identified as the biggest obstacles to growth. The Center for Financial Studies (CFS) surveyed specialists and executives in the German financial sector and summarized the results in a clear manner.

All results of this survey as well as the latest CFS index for the first quarter of 2024 can now be found on our website: https://frankfurt-main-finance.com/en/cfs-survey-on-obstacles-to-growth-in-germany/

🛎 Last chance to register for the meeting in London! On 🗓 June 13, join the exciting Polish-British cooperation.

Details below 🔽 🔽 🔽 👉 Registration - write an email: london.we@msz.gov.pl

See you in London!

The Financial Services Development Council hosted a productive industry outreach session with the APLMA (Asia Pacific Loan Market Association) last Friday. Sharing the same vision of cultivating a more efficient and conducive environment for the financial services practitioners to operate in, the FSDC and APLMA had a fruitful exchange on the latest developments of and emerging trends in the loan market in Asia and beyond. Acknowledging the significant contribution of the loan market to the banking and finance sector, the discussion also shed light on some operational challenges facing the industry, the importance of digitization in enhancing the efficiency of the loan market as well as facilitating transition finance. Our commitment remains steadfast in deepening dialogues with the industry, driving thought leadership, and fostering a more competitive and beneficial landscape for all stakeholders involved. Together, we will continue to collaborate and shape the future of Hong Kong. #LoanMarket #BankingAndFinance #EmergingTrends #Digitisation #SustainableFinance #HongKongFinance #TransitionFinance #ThoughtLeadership #FinancialInnovation #FinanceSector #fsdc #fsdchk #fsdchongkong

Why do our Rising Stars think the awards are important? 🌟 🎉

Just over a week ago, we hosted our annual Rising Stars Awards ceremony, and it was an unforgettable night!

We spoke to attendees and some of our shortlisted nominees and asked them...

⭐Why these awards are important.

⭐What advice they would give someone starting out in the finance industry?

⭐How it felt to be shortlisted.

If you missed our 2024 winners, check out our website: https://jsy.fi/4cD8BCl

Amy Alubbe Anaminyi | RBS | Ashley Correia ACSI | Stonehage Fleming | Jessica Sillars, Assoc CIPD | Megan Buxton | TMF Group | Eric Olival | CSC | Matthew Coles | KPMG in the Crown Dependencies

🗓️Save the date!

Join us for the second edition of the Inclusive FinTech Forum on 26-27 August 2024 in Kigali, co-organized by #KIFC, National Bank of Rwanda (NBR), and Elevandi. Don’t miss this global event! #IFF2024.

Learn more here: https://lnkd.in/dTE_59Nf

Ministry of Finance and Economic Planning | RwandaICT | Rwanda Development Board (RDB) | Rwanda Convention Bureau - RCB | Ministry of Foreign Affairs and Cooperation of the Republic of Rwanda | Monetary Authority of Singapore (MAS) | Norrsken East Africa | Rwanda Bankers' Association | ASSAR Rwanda Association of Insurers

Regulatory changes and shifting macroeconomic conditions have brought new complexities to the fore, requiring corporations to remain agile and resilient in their strategic planning.

Don’t miss our Focus On Corporate Finance livestream on June 18th where Anne-Sophie Dufresne, Head Corporate Banking at BGL BNP Paribas and Maxim Straus, CFO at Cargolux Airlines International will explore corporate banking in Luxembourg and financing of the real economy.

Register now: bit.ly/3Kv57Fj

Matias N. Rubiolo Melinda Perera Anne-Sophie Dufresne Maxim Straus Saskia Myners Linda Funck Oliver Gehbauer Guenther Poettler

Last night marked the opening of the 2024 edition of the Paris Cyber Summit, of which Paris Europlace is a partner. Several invited Paris Europlace members thus had the opportunity to exchange views with experts from the many countries represented, on the 2024 theme: "Is Artificial Intelligence a game changer for cyber policies?". Indeed, with the #digital age expanding its scope and ambitions, new risks are rising, especially for #cybersecurity. Growing interdependencies and more sophisticated interconnexions are a challenge for authorities to mitigate incidents and for firms to ensure business continuity in adverse circumstances. Law enforcement’s work has thus to keep up with the evolving #cybercrime landscape, as new threats to financial services could immediately impact the economies and the businesses. Consequently, operationalized partnerships with the private sector are crucial to addressing the digitalization of crime. In addition, #AI is lowering the threshold for entry into the criminal business world. Therefore, with barriers to entry easier to overcome for both cybercriminals and nation-state actors, combating cyber threats calls for a large cooperation between regional and global sources of expertise. In that respect, according to the Global Cyber Strategies Index proposed by the Center for Strategic and International Studies (CSIS), #France benefits from a comprehensive strategy to face civilian and military national cyber #defense, digital content, #data privacy, critical #infrastructure protection, e-commerce, and cybercrime. Indeed, among #G7 countries, only two have this holistic, broad coverage: https://lnkd.in/ezdsAbJn But even if the European Union has recently taken some initiatives (#NIS2 and #DORA), it is more necessary than ever to exchange at a world level on risk management and new scenarios. Paris Europlace is glad to partner with Paris Cyber Summit to boost these international relationships and to better develop a common knowledge based on best practices to contribute to ensure companies and financial marketplaces remain resilient. Paris Europlace also happy to welcome all experts and relevant authorities in its cybersecurity working group chaired by Antoine CREUX. Many thanks to Sébastien Garnault Pierre-Alexandre Houver Nicolas BOUROT Leroy Terrelonge III Thomas Rocafull Mathilde Carle Sophie Le Goff Pavlina Pavlova Akram A. for making the 2024 Paris Cyber Summit another great success in that domain.

QFC had the honour of hosting a delegation from DEİK - Foreign Economic Relations Board of Turkey. The visit provided an excellent platform to showcase QFC’s pivotal role in Qatar’s business ecosystem and to explore avenues for strengthening bilateral trade and business relations. 🇹🇷🇶🇦

DEIK is renowned for organising international events that bring together high-level representatives, politicians, business leaders, entrepreneurs, academicians, and NGO representatives from Turkey and around the globe.

Their mission is to foster commercial and cross-sector cooperation between Turkey and other nations, aiming to boost bilateral trade volumes. Additionally, DEIK strives to collaborate with international organisations, creating new opportunities for the Turkish business community through its initiatives.

—

Utku Ustunkaya Laila Aljefairi Henk Jan Hoogendoorn

The financial and related professional services industry provides many highly skilled, high-wage jobs. The average tax paid per employee in the industry was significantly higher than the national average.

👉 Discover more in our Total Tax Contribution study for financial and related professional services industry, conducted by PwC UK and commissioned by us and City of London Corporation : https://lnkd.in/eXSUzGQn #TheCityUK #FinancialServices