Financial Center News #148

As I mentioned last week, my brief study on financial center indices is now ready. I analyzed and compared nine different indicators, including the Global Financial Centre Index (GFCI) published by Z/Yen and the China Development Institute. Furthermore, I have made some suggestions for an Enhanced Financial Centers Index: https://financial-centers.org/publications/Financial%20Center%20Indices%20March%202026.pdf. I would appreciate any feedback. Meanwhile, I have started working on a second study titled "Measuring the Competitiveness of International Financial Centers," which will become part II of this series.

In this week’s newsletter, please listen to the powerful statement of the World Alliance Chair, Lamia Merzouki. Fostering dialogue, strengthening connections, and promoting a shared vision for a more united financial ecosystem is the right thing to do in these times of geopolitical tensions.

The cover photo of this issue shows our member NIFC_Africa in conversation with representatives of the Italian government. They discussed Italy’s Mattei Plan for Africa and its alignment with Kenya Vision 2030, covering topics such as energy security, sustainable economic growth, and economic cooperation. I hope the discussions will help to strengthen Nairobi’s position as a trusted and globally competitive gateway for capital and business.

🎙️Our Chair, Lamia MERZOUKI, delivered a powerful statement on unity and collaboration 🌍

At its core, the World Alliance of International Financial Centers (WAIFC) is about one thing: bringing international financial centers together 🤝

And every day, we continue to prove it through new members joining, new partnerships, and new projects shaping the future of global finance 📈

As our Chair said: “We build bridges.” 🌉

And this is exactly what the World Alliance will keep doing, fostering dialogue, strengthening connections, and promoting a shared vision for a more united financial ecosystem.

A message of peace, cooperation, and collective progress.

As ADGM marks a decade of operations, 2025 stands out as a year that helped us evolve as a financial center designed for long-term impact.

This sustained growth was built by attracting global institutions, deepening the talent pool, strengthening regulatory frameworks, and expanding our international reach.   And as Abu Dhabi further reinforces its position as the Capital of Capital, ADGM’s trajectory reflects a broader ambition to shape the future of finance.

AIFC Connect: Shanghai 2026 28 April 2026 | Shanghai Stock Exchange

The Astana International Financial Centre (AIFC) invites you to attend AIFC Connect: Shanghai 2026 – a high-level international event aimed at strengthening collaboration between the financial ecosystems of Kazakhstan and China.

The event will bring together senior representatives of financial institutions, regulators, investors, and industry leaders to explore opportunities for cross-border cooperation. Discussions will focus on capital markets, fintech, asset management, and sustainable finance, with an emphasis on practical partnerships and deal-making.

AIFC Connect will also serve as a platform to showcase Kazakhstan’s investment potential, highlight the advantages of the AIFC ecosystem, and facilitate direct dialogue between market participants from both countries, complemented by curated networking and B2B meetings.

📌 For registration inquiries and participation requests: ainura.jumabayeva@aifc.kz Participation is limited and subject to confirmation by the organizers.

"For investors focused on durability rather than expediency, confidence is built where regulatory alignment is matched by institutional continuity and sound judgment."

These powerful words from our CEO, Niekia Horton, in her recently published article in the Nassau Guardian, 'Compliance as competitive advantage, underscores the very essence of The Bahamas' value proposition.

She highlights some crucial points:

▪️ Our sovereign capacity to chart a responsible course amidst global recalibration. ▪️ Our position as a jurisdiction where credibility is built through contribution, consistency, and responsible sovereign decision-making. ▪️ The critical role of robust frameworks, experienced oversight, and a dedication to integrity in navigating complex financial landscapes.

These principles of trust and strategic adaptation will be central to the high-level dialogues at the upcoming Bahamas Global Wealth Summit, April 29-30, 2026, where we will examine 'Wealth Preservation Strategies in a Recalibrating World.'

Find out more here: https://lnkd.in/eJTkzCPV

📈 Busan Reaches a New Milestone in Global Finance

We are proud to share that Busan has achieved its highest-ever ranking — #23 globally — in the Global Financial Centres Index from March 2026 edition of Z/Yen Group Limited.

This remarkable progress reflects Busan’s steady rise as an international financial hub. Over the past three years, Busan has advanced 14 places, demonstrating strong and consistent momentum.

Busan’s continued rise reflects the city’s growing strengths in: ⚓ Maritime Finance 💻 Digital Finance & Fintech Innovation 🌏 International Financial Cooperation and Connectivity

It was a privilege to host historian Kate Pangonis at the CFC First Lounge for a journey through the lives of the women who ruled the Mediterranean centuries ago.

These pioneers, defined by their audacity and vision, were vanguard figures whose exercise of power remains deeply relevant today. However, the evening also served as a reality check. By juxtaposing these historical icons with modern data, Katherine highlighted the persistent gap between authority (the formal right to rule) and power (the actual ability to lead).

💡 Key takeaways: Power is strategy: formal titles are just the start. Real influence is built through relationships, reputation, and judgment. The visibility imperative: to empower the next generation, women must leave a record and take credit for their work.

Thank you, Kate Pangonis, for reminding us that while female leadership is part of our history, closing the power gap is our immediate priority

From 22nd to 7th in just three years, #Dubai continues its steady rise among the world’s leading financial centers.

This is not momentum. This is sustained progress. Read more: https://lnkd.in/dzWpHmVs

The SheTrades Mauritius Hub, in collaboration with the Ministry of Foreign Affairs, Regional Integration and International Trade, and the SADC Secretariat, is organizing a 2-day capacity-building workshop for youth and women entrepreneurs in Mauritius.

This workshop seeks to empower Mauritian youth and women-led service businesses to access regional and international markets by enhancing their knowledge of trade in services opportunities within the SADC region and their use of digital tools to boost export competitiveness.

📧 Interested to participate, please contact shetrades@edbmauritius.org

Malta has transposed the EU Corporate Sustainability Reporting Directive (CSRD) via Legal Notice 39 of 2026, amid the European Commission's Omnibus proposals to simplify reporting requirements.

Luke Hili from Ganado Advocates breaks down what this means for Maltese companies.

Read more: https://financemalta.org/financemalta-news/transposing-a-moving-target-maltas-new-csrd-regulations-against-the-backdrop-of-the-eus-omnibus-re-t

Driven by its commitment to promoting public health and prevention, and in collaboration with the Ministry of Health, the Authority implemented mobile health clinic services as part of the #Your_Health_Matters campaign, under the patronage of Ahmed bin Ali Al Maamari, Executive Vice President of the Financial Services Authority, aiming to raise health awareness and provide medical services to the community.

𝗛𝗼𝗻𝗴 𝗞𝗼𝗻𝗴 𝗥𝗲𝗮𝗳𝗳𝗶𝗿𝗺𝘀 𝗧𝗼𝗽-𝟯 𝗚𝗹𝗼𝗯𝗮𝗹 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗖𝗲𝗻𝘁𝗿𝗲 𝗣𝗼𝘀𝗶𝘁𝗶𝗼𝗻 𝗶𝗻 𝗚𝗙𝗖𝗜 𝟯𝟵✨

We are excited to share that Hong Kong has reaffirmed its standing as a top-3 global financial center and the leader in the Asia-Pacific region, according to the 39th edition of the 𝗚𝗹𝗼𝗯𝗮𝗹 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗖𝗲𝗻𝘁𝗿𝗲𝘀 𝗜𝗻𝗱𝗲𝘅 (𝗚𝗙𝗖𝗜).

With an overall rating just two points away from the top spot – Hong Kong continues to demonstrate its multidimensional excellence as a global financial powerhouse:

🏆#𝟭 𝗚𝗹𝗼𝗯𝗮𝗹𝗹𝘆 𝗶𝗻 𝗙𝗶𝗻𝗧𝗲𝗰𝗵: A testament to our thriving fintech offerings

🏦𝗦𝗲𝗰𝘁𝗼𝗿 𝗟𝗲𝗮𝗱𝗲𝗿𝘀𝗵𝗶𝗽: Ranked top globally in Banking, Insurance, and Finance

💪𝗦𝘁𝗿𝗼𝗻𝗴 𝗰𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲𝗻𝗲𝘀𝘀: Excelling across business environment, human capital, infrastructure, and financial sector development

As 𝗠𝗿 𝗕𝗲𝗻𝗷𝗮𝗺𝗶𝗻 𝗛𝘂𝗻𝗴, 𝗖𝗵𝗮𝗶𝗿𝗺𝗮𝗻 𝗼𝗳 𝗙𝗦𝗗𝗖, noted, "Hong Kong's financial markets, underpinned by regulatory excellence and world-class infrastructure, offer international investors a secure, neutral and globally connected hub for capital and wealth worldwide, assuring resilience and enduring value amidst uncertainties."

At the #FSDC, we remain steadfast in our mission to strengthen Hong Kong's competitiveness as a leading international financial center in collaboration with stakeholders across the financial ecosystem.

#FinanceMatters | What moved Frankfurt’s financial center in March?

🔹Frankfurt remains the EU’s leading financial center in the latest Global Financial Centres Index – but Europe overall is losing competitiveness, while Asia and the US gain ground. Action to strengthen capital markets is key. 🔹The new financial center report by Frankfurt Main Finance and the State of Hesse highlights: strong capital markets are essential to mobilize investment and secure Europe’s future. 🔹Launch of “Finanzen erleben in Frankfurt” (FeiF): a new initiative making financial education more accessible. 🔹Frankfurt’s global reach: Our Managing Director, Hubertus Väth, trained executives of Vietnam’s new international financial center, sharing expertise from Frankfurt.

📩 Stay informed about Frankfurt’s financial ecosystem and subscribe to our newsletter "Finance Matters" now: https://frankfurt-main-finance.com/en/medien/#newsletter

Our strategic partner, Mastercard, has been honored with the "Service Investment of the Year" award! 🎉🏆

The award was presented during the 2026 Investor Gala organized by the Polish Investment and Trade Agency (PAIH), and was received on behalf of the company by Marta Zycinska, MBA, MBA – General Manager of Mastercard Europe's Polish branch.

👉 We are delighted that Mastercard's initiatives in Poland have been recognized and appreciated. This distinction highlights Mastercard's significant investment in the development of modern services in the Polish market. We are proud to be working with a partner that sets industry standards.

Congratulations and best wishes for continued success!

Krystian Ochęcki, Malgorzata Domagala, Agnieszka Śpionek, Anna Marciniak, Aleksandra Wasilewska, Łukasz Krzykwa, Marcin Sobczyk, CFA, Aleksandra Gołda, Tomasz Dabrowski, Kacper Olczyk, Marcin Lukaszewicz, Pawel Widawski, Piotr Brewiński, Katarzyna Multan, Anna Bogucka

Every year, around 1 billion tonnes of food is wasted, undermining global food security. This is a crucial area for change. Waste is preventable, and action is vital for a zero-waste future.

Today, financial sector stakeholders convened to discuss the feasibility of establishing a Training Levy and Skills Development Fund for Rwanda's financial sector.

Discussions focused on practical and sustainable approaches, including leveraging existing funding mechanisms, training academies, and current tax initiatives for training, while also considering appropriate collection models and the need for a credible and competent institution to administer the fund.

KIFC Hortense Mudenge emphasized that upskilling the financial ecosystem is a critical pillar in positioning Rwanda as a competitive international financial center, highlighting the importance of building a more professional, resilient, and future-ready industry.

Luxembourg strengthened its position as the world’s leading cross-border investment hub in 2025, with assets under management exceeding €8 trillion for the first time, reaching €8.2 trillion. The broader financial ecosystem continued to grow throughout the year, with Luxembourg’s financial supervisors authorizing more than 58 new entities, reinforcing the center’s diversification across banking, asset management, payments, insurance, and digital finance.

Read more: https://lff.social/9z5

In recent engagements, we hosted a high-level strategic meeting led by our CEO, Daniel Mainda, with Min. Fabrizio Lobasso, Deputy Director General of the Italian System and Investments at the Italian Ministry of Foreign Affairs, alongside Giorgio Massotti of CDP Cassa Depositi e Prestiti and Lorenzo Tagliaferri of SACE, Italy’s Export Credit Agency.

The discussions focused on strengthening Kenya-Italy opportunities across the financial services, technology and infrastructure space. The deliberations reinforced NIFC Africa's role in positioning Nairobi as the Continent's preferred financial gateway as well as the home of fund domiciliation and home of start-ups in the ecosystem.

The engagement reflected the shared ambition of Italy’s Mattei Plan for Africa and Kenya Vision 2030, both of which emphasize investment, economic cooperation, and sustainable growth. It also reinforced the role of financial services in enabling long-term transformation, competitiveness, and stronger cross-border capital flows.

We continue to strengthen Nairobi’s position as a trusted and globally competitive gateway for capital and business.

The World Meets Nairobi. Learn more at www.nifca.go.ke

One of our first full staff gatherings in our new building brought the entire QFC family together. 🤝

It was a great opportunity to connect, exchange ideas, and engage with each other through an open, interactive discussion.

🚀 Two days packed with innovation: Our recap of the START Summit 2026!

We've just wrapped up two intense days in St. Gallen.

What did we take away from it?

💡Pure inspiration: Interacting with visionary startups and creative minds showed just how much potential lies in current technological developments.

🤝 A strong network: It was great to reconnect with old acquaintances and make new, forward-thinking contacts.

✨ Innovation up close: The energy on the ground makes it clear that the European startup scene is more vibrant than ever.

A huge thank you to the START Global team for the first-class organization and the great atmosphere. We're back with our batteries recharged and new ideas in our luggage.

City Week returns for its 16th edition this May, bringing together senior leaders from across global financial services to tackle the forces reshaping the industry.   Organized in partnership with ourselves, the Department for Business and Trade, the City of London Corporation, and UK Finance, City Week 2026 will explore how financial institutions are adapting to rapid change across geopolitics, technology, and regulatory regimes.   Held in London on 18–19 May and live‑streamed globally, City Week 2026 brings together more than 1000 senior decision-makers from not only the UK but also from all the other major financial centers.   The full agenda, confirmed speakers and details on how to register can be found on the City Week website - https://www.cityweekuk.com

TheCityUK members can obtain a 30% discount by using the code: CITY17TCUK

Day 2 at the Kenya International Investment Conference (#KIICO26) spotlighted the growing momentum around regional integration and cross-border investment, with the COMESA Forum taking center stage.

The forum brought together policymakers, investors, and industry leaders to explore opportunities in trade, infrastructure, and services. Discussions emphasized the importance of harmonized policies, investment facilitation, and stronger regional value chains to drive sustainable economic growth.

A key takeaway: Africa's competitiveness lies in collaboration. By leveraging regional blocs like COMESA, we can create larger, more attractive markets that accelerate investment flows and foster resilience.

As conversations continue, the focus remains clear- turning commitments into actionable partnerships that deliver real impact across the continent.

The opening session featured remarks from John Mwendwa, OGW (CEO, Kenya Investment Authority (InvestKenya)), Heba Salama (CEO, COMESA Regional Investment Agency), H.E. Chileshe Kapwepwe (Secretary General, COMESA), and P.S Abubakar Hassan Abubakar, CBS.