Financial Center News #56

Our members TheCityUK and Financial Services Authority Oman met to explore ways to strengthen financial center activities.

Nicola Watkinson (she/her) and Abdullah Alrabiei (BSc, MBA, CMgr MCMI) had the occasion to exchange on conditions to deliver on Vision2040.

Khaled bin Mohamed bin Zayed has visited ADNOC’s trading office at Abu Dhabi Global Market, where His Highness met with Emirati commodity traders and endorsed plans to further expand ADNOC’s trading activities to support global energy security.

ADNOC Group

📣 The Astana International Financial Centre and the Chinese media corporation China Media Group (CMG) have signed a Memorandum of Understanding aimed at strengthening cooperation and developing a strategic partnership in the field of media and communications. The Memorandum was signed by Renat Bekturov, Governor of the AIFC, and Shen Haixiong, CMG President & Editor-in-chief. 📊 Under the Agreement, the parties have agreed to cooperate in the exchange of information and expert knowledge. AIFC will provide up-to-date information about its activities, including country and industry reports, research, and reviews on the development of Kazakhstan's capital market. 🤝 The joint work will also include the implementation of projects covering the Belt and Road initiative and other international projects related to the financial centre. The main objective is to enhance the potential of both companies through the exchange of experience, organisation of business meetings, and best practices in media and PR. ✨ Renat Bekturov, Governor of AIFC, noted: "We are pleased to sign this Memorandum with a major Chinese media corporation. The signing of this agreement is another important step in recognizing our long-term partnership and strengthening economic relations between our countries." 💼 For AIFC, as a leading financial hub in Central Asia, the signing of this Agreement is a crucial component in informing the East Asian business community about the centre's activities. Today, over 2,800 companies from 78 countries are registered at AIFC, with a tenth of them being from China. For the AIFC, as a leading financial hub in Central Asia, the signing of this Memorandum is a crucial component in informing the East Asian business community about the centre's activities. Currently, more than 2800 companies from 78 countries registered at AIFC, with tenth of them originating from China.

Good afternoon from Busan :)

We are excited to share that Busan Finance Center hosted the BFC Concert in collaboration with the Busan City Art Organization on July 3rd in Busan International Finance Center (BIFC) 😀

As major global financial centers such as New York and London, we are working to enhance our brand value as well as invigorate the BIFC through the combination of art and finance. We believe art is one of the key elements to boost our competitiveness 🌏

That's why we organized this concert to invigorate the Busan Financial Hub and to improve the living conditions of employees at policy financial institutions that have moved to the BIFC 😍

Following today's performance, the BFC concert will be held regularly in collaboration with the orchestra based in Busan from late July to September this year.

Stay tuned for more on Art & Finance in Busan! 🌏

Casablanca Finance City Authority and UNDP Financial Centres for Sustainability (FC4S) (Financial Centers 4 Sustainability) organized a workshop to explore the current landscape of sustainable finance in Morocco. Experts from FC4S shared preliminary findings from Morocco's 2023 assessment program and engaged participants in insightful dialogues, gathering their feedback on current plans related to green and finance transition. This initiative aims to strengthen further the evaluation process with tangible inputs from the Moroccan policy makers, regulators, and private sector stakeholders. A big thank you to all our participants for their valuable insights! UNDP Financial Centres for Sustainability (FC4S) , Autorité Marocaine du Marché des Capitaux (AMMC) , Bkam , ACAPS , BOA , AWB , MEF et Min. transition énergétique , Africa50

#DIFC Square breaks ground on near 1mn sq.ft. development, to meet growing demand for high-quality office spaces. The landmark commercial development, comprises of three interconnected buildings featuring offices, retail, and amenities is scheduled for completion by Q1 2026.

Read more: https://lnkd.in/dcfmYWvp #DIFC20

The Economic Development Board (EDB) is participating in the 4th edition of the India Africa Entrepreneurship & Investment Summit, being organised by the India Africa Entrepreneurship Forum.

The Summit will take place from the 18th to the 19th of July 2024 at the Intercontinental Resort Mauritius and will convene over 150 influential delegates, including venture capitalists, angel investors, and leading entrepreneurs from India and Africa. This Summit will provide a unique platform for networking, knowledge sharing, and exploring sustainable growth opportunities.

Join us for insightful discussions, impactful partnerships, and the chance to be part of a dynamic community driving economic progress across both regions.

To register for the Summit 2024 👉 https://lnkd.in/d-ghDgxV

#IAEFSummit2024 #IndiaAfricaSummit #entrepreneurshipsummit2024

Last week, our Quarterly Members’ Night (QMN) for Q2 2024 was held in Lagos. Hosted by one of our esteemed members, First Ally Capital Limited, the June edition of the quarterly event that gathers C-level executives within the Financial and Professional Services (FPS) sector in #Nigeria was a huge success.

We leverage #QMN to connect, exchange insights, and celebrate EnterpriseNGR's recent achievements whilst forging a common ground towards our collective goal of making #Nigeria the premier financial services destination in #Africa.

See more pictures of the event here: https://lnkd.in/dnE-XRme

#EnterpriseNGR #FPSSector #Partnership #FinancialServices #IFC

🗣️ The final speaker announcement for the event "Navigating Solvency II: Strategies for Compliance and Efficiency in the Insurance Industry."

Simon Paris, Director at WTW (Malta) will participate in the panel session titled "Leveraging Outsourcing for Enhanced Efficiency and Risk Management" during the event.

Registrations are open until 15:00 (CET) Register Now 👉 https://shorturl.at/B2aaM 📍 St James Cavalier, Valletta, Malta 📅 2nd July 2024 ⌚ 16:30 - 20:00 (CET)

#FinancialServices #Insurance

JIAM - The consortium for Japan International Asset Management Center Promotion hosted its 4th workshop on the subject of Art and Finance at FinGATE Club. Thank you to Maestro Masato Suzuki for once again joining us in person and to Obi Ibekwe and Jessica Miae Park for joining from Lagos and Busan online. Access to funding and infrastructure was pointed out as challenges facing artists and we learnt how the public sector and financial institutions came in to boost the art markets. "Art as a magnet to attract the wealthy and the professionals" and "art is in a realm of wants" were great quotes of the session. The financial institutions mentioned by both speakers were quick in spotting this and have been actively supporting artists. Thank you Jochen Biedermann for contributing us a kind video message. Check out the World Alliance of International Financial Centers (WAIFC) whitepaper on art and finance. https://lnkd.in/g9_sFtzN Misaki Shoji Keiichi Aritomo Tomoharu Nakao

How much strategy is behind the financial sector's handling of the issues of #Biodiversity and #NatureConservation? 🌿

PwC Deutschland and WWF Deutschland addressed these and other questions as part of a survey of players in the German financial sector. The result: Only a small proportion of the banks, asset owners and asset managers surveyed have so far tackled the issues relating to biodiversity and ecosystem aspects strategically. However, the survey also shows that a nature-positive economy can offer opportunities such as improved risk resilience and competitive advantages.

Katja Kirchstein, Senior Advisor Sustainable Finance at WWF Germany, therefore emphasizes at this point: "Now it is important to invest in the future and make return assumptions more long-term and resilient. Those who deal with biodiversity at an early stage will benefit from more stable returns and a stronger market position in the long term."

💡Further information on the survey and the press release can be found here: https://frankfurt-main-finance.com/en/pwc-wwf-biodiversity-finance/

#Sustainability #SustainableFinance #PwC #WWF #FrankfurtMainFinance #FinancialSector

Dr King Au, #FSDC Executive Director, shared his insights at the ACCA Hong Kong Annual Conference 2024, themed “Confidence in Action: Rejuvenating Hong Kong for New Horizons.” The conference gathered experts to discuss Hong Kong's strengths and competitive advantages in fostering economic resilience and high-quality development.

In the panel “Hong Kong's unique value in regional business ecosystems,” Dr Au outlined the new growth paths of HK as an #InternationalFinancialCentre. The discussion focused on HK's strategic role as designated in the National 14th Five-Year Plan for the development of 'eight centres' across finance, innovation, trade, and legal and dispute resolution. This panel highlighted Hong Kong's unique advantages and its enduring significance to regional businesses across various industries.

Hong Kong's position as an #ifc is pivotal in the region's economic strategy, reinforcing its status as a dynamic gateway linking mainland China to the global market. The city's integration within the Greater Bay Area continues to drive regional economic growth and innovation.

#HongKong #InternationalFinancialCentre #FSDC #ACCAHK2024 #EconomicGrowth #GreaterBayArea #Innovation #IFC

We are excited to announce the newly updated Jersey Private Fund (JPF) Guide, designed to further improve the JPF regime.

This is the result of a joined-up approach between the Government of Jersey, the Jersey Financial Services Commission, the Jersey Funds Association, the Jersey Association of Trust Companies and Jersey Finance.

The JPF regime offers fund promoters a cost-effective, fast-track (48 hour) regulatory approval process for private funds. The streamlined approach allows up to 50 eligible investors to participate.

Visit our website to learn more about these changes: https://jsy.fi/4bAUFaa

#JerseyPrivateFunds #Funds #JPF

Ahead of #IFF2024 happening on August 26-27, our CEO Nick Barigye highlights the importance of hosting the Global Inclusive Fintech Forum for both Rwanda and Africa.

Pre-register for IFF 2024 at https://lnkd.in/d5_m8YEb

Missed our most recent livestream "Focus on Hiring Leaders" and want to hear more about leadership within financial services?

Hear from industry experts including representatives from HSBC Continental Europe, Odgers Berndtson, Morgan Philips Group, fr2s - Federation for Recruitment, Search & Selection, Institut Luxembourgeois des Administrateurs (ILA), and Amrop on how firms are adapting leadership development programs, succession planning, and organizational cultures to meet the evolving needs of both emerging and seasoned leaders, as well as the board's role in C-suite talent efforts.

Watch the full replay at the link below: bit.ly/4cOk3dL

#MoveToLux #Leadership #TalentManagement #FinancialServices #GrandDuchy

Europe's two largest financial centers, #Paris and London, today brought together their representatives, hosted by Paris Europlace, to deepen their relationships in three key areas: European regulatory priorities, #sustainable finance and technological #innovation. In the run-up to the installation of the new European Union authorities, it was crucial for financial sector representatives from both capitals to deepen their exchange of views and experiences. The proper financing and resilience of the real economy to continue creating jobs, the successful achievement of ambitious #climate transition targets, and the right balance between #regulation and the promotion of technologically innovative solutions are just some of the issues that continue to bring the two financial centers together. In order to continue supporting the development of the major players based in France, Paris Europlace maintains a constant and in-depth dialogue with other international financial centers: avoiding fragmentation, promoting the best regulatory and supervisory policies, and sharing best national practices remain necessary ingredients for #finance to support the prosperity of companies and, ultimately, of employees and citizens. Many thanks to the co-chairs Vivien Levy-Garboua Sharon Lewis and all participants, including Sophie Asselot Alban Aucoin Angus Canvin Nick Collier Christelle Coslin Corentin Couvidat Scott Devine Jean-Bernard Ferrand-Eynard Vincent Fidelle Giordano Stephane. Cécile Goubet Vanessa Harvard-Williams Simon Janin Richard Kaye Edmund Lakin Nicolas Lancesseur Jonathan Lewis Sinéad Meany Owen Morgan Charles Moussy Véronique Ormezzano Ira Poensgen Stanislas Pottier Jean-Jacques Santini Jean-Charles Simon

In June 2024, Qatar Financial Centre welcomed 42 new firms from a diverse range of industries! Register your company with us and gain a host of benefits: https://lnkd.in/dsirD7pP

🟣Onshore Jurisdiction QFC is an onshore business and financial centre that allows companies to operate in Qatar and in the region within a legal and tax environment aligned to international standards.

🟣100% Foreign Ownership The QFC permits registered firms up to 100% foreign ownership of their business in Qatar.

🟣English Common Law A legal, judicial and regulatory framework based on English common law and international best practice, with an independent court, regulatory tribunal and dispute-resolution centre.

🟣Competitive Tax System Fair and transparent tax regime that benefits from the Double Taxation Agreement Qatar has with 80+ countries, 10% corporate tax on locally sourced profit, no personal income tax, wealth tax or Zakat and an efficient advance ruling service.

🟣100% Repatriation of Profits Payments of dividends, interest, royalties and management fees out of Qatar by QFC companies are free from withholding tax, enabling tax-free repatriation of returns and profits for shareholders.

🟣One Stop Shop A quick and easy set up process that licenses, establishes, and supports businesses in and from Qatar. A dedicated Client Affairs team to support your business needs.

Highlights from our Annual Conference 2024 are now available, featuring a great line-up of speaker and engaging discussions on investing in sustainable growth, the evolution of the UK’s regulatory landscape, and harnessing new technologies and innovation.

Find out more insights that are shaping our industry – watch here https://lnkd.in/gBD8sd7N

#TheCityUK #economicgrowth #innovation