Financial Center News #152

I am writing this one day earlier than usual, as most of us look forward to a relaxing long May 1st weekend.

Most importantly, let me remind all young researchers interested in financial centers to consider participating in our Young Academic Award 2026. The application deadline formally ends today, but we will keep it open for a few more days for latecomers. Please apply as soon as possible. Some applicants have asked whether we can extend the final paper deadline (May 30th). Unfortunately, this is not possible, as we will already be celebrating the winners in mid-September, and we need to take care of their travel plans, including visa applications for Korea, which take time.

I look forward to reading all the papers in early June and most likely will learn a lot again 😊

⏳Last day to apply.

The WAIFC Young Academic Award 2026 is closing its application phase today.

🤝Already, applications have been submitted from 23 different countries, reflecting the global momentum around the future of finance.

If you’re a young academic working on the future of finance, this is your moment.

At the World Alliance of International Financial Centers (WAIFC), we are calling for bold, rigorous, and actionable research on the forces reshaping our industry:

🌍 Climate & sustainable finance

🤝 Inclusion & social impact

🤖 AI, digital assets & next-generation financial infrastructure

🎓 Talent & the future of work

🌐 Geopolitics & cross-border financial cooperation

📌 Key dates:

* Application deadline: April 30, 2026

* Final paper submission: May 30, 2026

🏆 Selected finalists will:

* Present at our Annual General Meeting in Busan, South Korea 🇰🇷

* Have their travel fully covered ✈️

* Compete for prizes up to €3,000 💶

📲 If you’re a PhD student, researcher, or part of a think tank — or if you know someone who is — don’t miss this opportunity: https://lnkd.in/dvdc6k7H

📲 APPLY HERE: https://lnkd.in/eAhMGX4G

Abu Dhabi has concluded a series of high-level strategic engagements in Milan, reinforcing long-term financial and economic collaboration with Italy.

Led through ADGM, the delegation engaged global financial institutions and industry leaders to advance capital deployment, cross‑border expansion, and priority growth sectors — underpinned by a stable, well-regulated environment and a legal framework based on the direct application of English common law.

These engagements reflect Abu Dhabi’s integrated approach to finance, industry, and emerging sectors, strengthening its position as the Capital of Capital.

Read more here: https://lnkd.in/d4wXsdMp

The Astana International Financial Centre (AIFC) welcomed His Highness Theyazin bin Haitham Al Said, Deputy Prime Minister for Economic Affairs of the Sultanate of Oman, to discuss opportunities for strengthening cooperation with Oman’s financial institutions.

The discussion focused on practical areas of collaboration, including Islamic finance, capital markets, asset management, and sustainable finance.

Both sides noted the growing engagement between AIFC and Omani institutions through business visits, participation in Astana Finance Days, and ongoing expert-level exchanges.

The parties also explored potential cooperation with Oman’s newly established international financial centre, with a focus on developing investment flows and strengthening financial connectivity between Central Asia and the Middle East.

The word “agile” gets used a lot in our industry. But what does it look like in practice?

In our conversation with Wendy Warren CPA, Founder of Caystone Trust at last year's Summit this idea came into focus.

For Wendy, The Bahamas’ ability to respond to change isn't just about policy, it's about culture:

“The world is changing so quickly, including the needs of our clients and the needs of the global regulators, the current geopolitical climate requires us to be agile. In The Bahamas, I believe we've built a system of trust where we can interact with each other and make rapid decisions”

Join us later this month for the Bahamas Global Wealth Summit 2026 to continue these critical discussions with industry leaders!

🔗Register Now: https://lnkd.in/eqQiHpAq

The Casablanca Arbitration Days are officially underway!

<w:rPr><w:rFonts w:asciiTheme="minorHAnsi" w:hAnsiTheme="minorHAnsi" w:cstheme="minorHAnsi"/><w:sz w:val="22"/><w:szCs w:val="22"/><w:lang w:val="en-US"/></w:rPr></w:pPr><w:r w:rsidRPr="00B146AD"><w:rPr><w:rFonts w:asciiTheme="minorHAnsi" w:hAnsiTheme="minorHAnsi" w:cstheme="minorHAnsi"/><w:sz w:val="22"/><w:szCs w:val="22"/><w:lang w:val="en-US"/></w:rPr><w:t xml:space="preserve">Hosted by Casablanca Finance City and Casablanca International Mediation and Arbitration Centre (CIMAC) with the support of Région Casablanca - Settat, this 9th edition gathers global legal experts, policymakers, and practitioners to solidify Morocco’s position as a premier international arbitration hub.

<w:rPr><w:rFonts w:asciiTheme="minorHAnsi" w:hAnsiTheme="minorHAnsi" w:cstheme="minorHAnsi"/><w:sz w:val="22"/><w:szCs w:val="22"/><w:lang w:val="en-US"/></w:rPr></w:pPr><w:r w:rsidRPr="00B146AD"><w:rPr><w:rFonts w:asciiTheme="minorHAnsi" w:hAnsiTheme="minorHAnsi" w:cstheme="minorHAnsi"/><w:sz w:val="22"/><w:szCs w:val="22"/><w:lang w:val="en-US"/></w:rPr><w:t xml:space="preserve">We are honored to kick off with insights from Said Ibrahimi CEO Casablanca Finance City Authority, H.E. Abdellatif Ouahbi Minister of Justice of Morocco, Hicham Zegrary Secretary General, Casablanca International Mediation & Arbitration Centre, Dr. Emad Hussein, FCIArb Senior Advisor Singapore International Dispute Resolution Academy and the Casablanca International Mediation and Arbitration Centre (CIMAC) Court members from across the globe.

Catch the event live here: https://lnkd.in/e_cczfzB

#DIFC continues to reinforce #Dubai’s position as a global destination for finance, business and innovation, reporting strong client growth in Q1 2026.

With 775 new companies joining the ecosystem, up 62% year on year, and a 21% increase in financial services authorisations, the momentum reflects rising global confidence in Dubai’s economic model, regulatory strength and financial infrastructure. Growth was further supported by a surge in family businesses and foundations, alongside full occupancy of DIFC Square ahead of handover.

As highlighted by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, this performance underscores Dubai’s ability to transform global shifts into opportunities for sustained growth, in line with the ambitions of the Dubai Economic Agenda (D33) to position Dubai among the world’s top four financial hubs by 2033.

Read more: https://lnkd.in/dnFjxG-Y

Sustainable economic growth cannot flourish in an environment of uncertainty. Every resilient ecosystem needs reliable safeguards, and in financial services, the most visible safeguard is the integrity of the claims process.

This reality was underscored at ISTCF 2026: "The claims experience is the single most powerful determinant of public trust." To deepen financial inclusion and national confidence, we must transform the customer journey from a point of friction into a testament of reliability.

Join us in Warsaw on 21 May for Digital Asset Funds and MiCA: Malta's Established Advantage, organised by FinanceMalta and the Malta Asset Servicing Association(MASA).

📅 Date: 21 May 2026

⏰ Time: 2:00 PM – 6:30 PM

📍 Venue: Sheraton Grand Warsaw 🏨

💡 Designed for fund managers, investors, operators, and industry professionals interested in Malta's established digital asset ecosystem.

🔗 Register here:

https://lnkd.in/dDgxPNnN

The FSA participated in the Oman Insurance Forum as a guest of honor, attended by Mr. Ahmed bin Ali Al Mamari, Executive Vice President.

The Authority presented a working paper covering several key themes:

▪︎ Regulatory enhancements being undertaken by the Authority to develop the insurance sector in alignment with the priorities of Oman Vision 2040.

▪︎ Growth opportunities within the insurance sector in the Sultanate of Oman.

▪︎ Key challenges facing the sector.

Hong Kong as a Global Hub for Fund Management

What makes Hong Kong an attractive asset and wealth management hub for international investors? Our Board Member, Mr Jeremy Lam, shared insights at the recent Clearstream Fund Summit in Hong Kong through a keynote speech on the city's strengths as a fund management centre with banking and asset management leaders across Asia.

Mr Lam remarked that Hong Kong has been solidifying its dominance as a global wealth hub, leveraging its offshore RMB leadership and GBA connectivity. With a robust regulatory framework that reinforces market confidence and certainty, the city is also supporting the responsible development of virtual assets and stablecoins.

In setting the scene for the Summit's discussion on the rapidly evolving landscape of fund distribution in the digital age and wealth management trends, Mr Lam highlighted the challenges that the industry needed to be mindful of: managing complexity, global regulatory divergence and responsible use of Generative AI.

The FSDC remains committed to promoting Hong Kong's strengths to global stakeholders and to supporting the continued development of ETFs, alternatives, and a deeper, more resilient fund management ecosystem – strengthening Hong Kong's role as a stable and secure international financial hub.

🌐 FOOD for THOUGHT – Online Event

Frankfurt Main Finance and the VIB - Association of International Banks in Germany are delighted to invite you to the next edition of FOOD for THOUGHT.

📌 Wednesday, 13 May | 09:00 – 10:00 (Frankfurt time) | Online

We are pleased to welcome Matthias Wittenburg, Senior Executive Advisor at PwC Strategy& (Germany) and Lieutenant Colonel (Reserve) of German Bundeswehr to address the topic of：

“Mission: Possible – Aligning Investment Flows with the EU’s Defense Needs”

He will explore how European NATO countries are responding to rising geopolitical pressures – from Russian aggression to shifting U.S. foreign policy priorities. As Europe moves towards greater military autonomy, a “defense supercycle” is driving unprecedented levels of public spending.

The session will examine why private capital will be essential to strengthening Europe’s resilience – and what role investors can and should play in supporting the continent’s evolving defense landscape.

👉 Register here: https://lnkd.in/dqCTBaBe

(The event will be held in English.)

📌 Summary of the first phase of work on the implementation of the act introducing eIDAS 2.0

Implementing the EU eIDAS 2.0 regulations is a complex task that involves legal, technological, and operational aspects. In Poland, an additional challenge is that users are already used to the convenience of the mObywatel app. Because of this, any changes need to be carefully planned and introduced gradually, along with broad education for both citizens and the market.

Below are the key amendments introduced to the draft:

🔐 Trust services

📂 National catalogue of attribute schemes

🧩 AML/KYC processes

✒️ Free qualified electronic signature

🆔 Recognition of PID in physical presence

🧭 New information obligations of the Minister of Digital Affairs

📬 e-Delivery and the National Delivery Hub (KPP)

📲 European Digital Identity Wallet (EUDI Wallet)

Where continents meet and capital flows. At the heart of Istanbul, an integrated financial ecosystem. Secure your space: https://lnkd.in/dUdu3sh9

Structuring in private markets is changing not because it has to, but because it needs to.

At our recent Funds Focus event in London, titled ‘Structuring in the New World’, this shift was discussed by our expert panel. Jurisdictional choice is no longer just a technical decision; it’s a risk decision.

Managers today are asking:

➡️ Will this structure stand up in five years?

➡️ Does it work for a blended investor base?

➡️ Can we execute quickly without compromising flexibility?

At the same time:

• Family offices and high-net-worth individuals are increasing allocations to alternatives

• Co-investments and bespoke structures are on the rise

• Tokenisation is reshaping how assets are held and accessed

Jurisdictions that can offer stability, flexibility and certainty of execution are becoming central to these decisions. Jersey is well positioned here, combining regulatory clarity, structuring flexibility and early leadership in areas like tokenisation.

👉 Read the event summary on our website: https://ow.ly/LllQ50YQrbk

A special thanks to our panel: Katie Leah, Partner, Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates; Mike Byrne, Jersey Funds Association and Partner and Asset Management Leader, PwC Channel Islands; Robert Milner, Partner, Carey Olsen; Sophie Forbes, Head of Legal, TreasurySpring; and Tim Morgan, Partner, Appleby. And thank you to our event sponsor, Grant Thornton – Offshore.

Great to witness the signing and official launch of the $100M SME growth fund today- anchored by Rwanda Social Security Board Official, and managed by Enko Capital through the Kigali International Financial Centre. Real economic transformation calls for intentionality. This fund proves that- with a successful initial close of $30M, RSSB is demonstrating the power of domestic institutional capital in crowding in catalytic investment for long-term private sector growth. A blueprint for pension fund-led investing in Africa! Congratulations to all key partners involved- Rwanda Social Security Board Official, Enko Capital, FSD Africa. Hashtag#Rwandaworks

Finance performs better when it reflects the full spectrum of talent. Yet women remain underrepresented in senior roles, a sign that progress, while real, is not complete. Luxembourg fosters an environment where talent is recognized without bias, and where diversity drives stronger outcomes.

We were pleased to host a strategic engagement with Mediterrania Capital Partners. Led by our CEO, Daniel Mainda, and Mediterrania Capital Partners CEO, Albert Alsina alongside both teams to explore collaboration opportunities in advancing investment flows into Africa.

The discussions reflected on Mediterrania Capital Partners strong track record as a leading private equity fund manager, with over €1.2 billion in assets under management and a growing presence across key markets including Barcelona, Abidjan, Cairo, Casablanca, and Mauritius. With five funds raised and notable investments such as Coris Holdings, the engagement underscored a shared ambition to deepen capital deployment across the continent.

We highlighted our value proposition anchored on regulatory clarity, targeted incentives, and a streamlined certification framework; positioning Nairobi as a strategic gateway for investments into Africa.

The conversation also provided valuable insights from Mediterrania Capital Partners on their expansion considerations in the region. These included:

1. The evolving and localized nature of the East African market.

2. Competition dynamics, particularly from local financial institutions.

3. The opportunity for stronger institutional linkages to support private capital fundraising.

We also explored how NIFC Africa can support global fund managers through enhanced investor connectivity, including strategic introductions to key institutional investors.

This engagement reinforced Nairobi’s growing position as an emerging financial hub and a compelling destination for global capital seeking structured, scalable, and impactful investment opportunities across Africa.

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

We welcome newly appointed members to our Board of Directors, further strengthening our governance framework and supporting our strategic priorities for the next phase of growth.

H.E. Sheikh Faisal bin Thani Al Thani, Minister of Commerce and Industry, will continue to lead the Board as Chairman.

The Board brings together leadership from across government, finance, investment, and regulatory sectors, including:

🟣 H.E. Sheikh Ahmed bin Khalid bin Ahmed bin Sultan Al-Thani, Deputy Governor of Qatar Central Bank

🟣 Sheikh Ali bin Al-Waleed Al-Thani, Chief Executive Officer of Invest Qatar

🟣 Mr Abdullah Mohammed Al Ansari, Chief Executive Officer of Qatar Stock Exchange

🟣 Mr Ali Rashid Al-Mohannadi, Chief Operating Officer of Qatar National Bank

🟣 Mr Ali Ahmed Al-Sulaiti, Director of the Minister of Interior Office

🟣 Mr Abdulaziz Abdullah Al-Kuwari, Assistant to the Director of the Prime Minister’s Office for Government Affairs

🟣 Mr Mansoor Rashid Al-Khater, Chief Executive Officer and Board member of QFC

With their combined expertise, the Board will support QFC’s continued role in advancing Qatar’s economic diversification, attracting global investment, and fostering innovation across the financial sector.

We had a great day yesterday at our International Conference, sponsored by Freshfields. Over 250 senior delegates from across the financial and related professional services industry, policymaking, government and regulation packed into the conference venue to hear from an excellent line-up of speakers and discuss how the UK continues to strengthen its position as a world-leading international financial centre.

Delegates heard keynotes from:

▪️ The Rt Hon Peter Kyle MP, Secretary of State for Business and Trade – who was also in conversation Anne Richards DBE and took questions from the audience

▪️ H.E. Warren A. Stephens, US Ambassador to the UK

▪️ Daisy Cooper MP, Deputy Leader and Treasury Spokesperson, Liberal Democrats – who was also in conversation with Timothy Fassam, Chair of our Public Affairs Group

▪️ Eduard Fesko, Deputy Head of Mission and Deputy Ambassador of Ukraine to the United Kingdom

▪️ Anne Richards DBE, Chair of our Leadership Council

As well as a lively series of panel sessions which explored:

🌍 Navigating competition among the economic superpowers.

🔗 Collaborating with leading international financial centres.

💡 Redefining the UK’s value proposition.

All three generated a number of thought-provoking questions and interesting discussion.

We also launched our latest report, produced in collaboration with Freshfields, at the conference: ‘Bridging the infrastructure funding gap: Attracting private capital to deliver the UK infrastructure strategy and exporting innovative financing solutions’, which you can read on our website.

A huge thank you to our sponsor, Freshfields, exhibitors, expert speakers, and everyone who joined us on the day. And well done to the team at TheCityUK for delivering such a fantastic event!

Recordings of all sessions will be available on our website soon – keep an eye out for them next week!