Financial Center News #153

I am glad to see excellent news from one of the African leaders in finance. The Lagos International Financial Center is making progress, enjoying unwavering support from the Lagos State Governor. I am optimistic that the Lagos Financial Center will have a strong impact on Nigeria's future and become one of the top financial centers globally over the next decade.

Moving from the heart of Africa to one of Asia’s powerhouses: I just got an invitation to give a keynote at the Vietnam Financial Forum in Da Nang on 09-10 July 2026. If you are interested in the development of its two new financial centers, Ho Chi Minh City and Da Nang, please meet me there.

In Europe, my shout-out goes to Karsten Wenzlaff from the European Digital Finance Association (EDFA). Every month, he organizes the so-called Fintech Café d'Europe, an informal exchange of European FinTech leaders. Very informative!

⏳ Update: Deadline Extended!

Great news — the application deadline for the WAIFC Young Academic Award 2026 has been extended until further notice.

The submission deadline for the final papers remains at May 30, 2026.

🌍 Already, applications have been received from 25+ countries, showing strong global momentum around the future of finance.

If you're a young academic, PhD student, researcher, or part of a think tank — this is your moment.

We are looking for bold, rigorous, and actionable research on:

🌱 Climate & sustainable finance

🤝 Inclusion & social impact

🤖 AI, digital assets & next-gen financial infrastructure

🎓 Talent & the future of work

🌐 Geopolitics & cross-border financial cooperation

🏆 Finalists will:

✈️ Travel to Busan, South Korea (fully covered)

🎤 Present at the WAIFC Annual General Meeting

💶 Compete for prizes up to €3,000

📲 Learn more: https://lnkd.in/dvdc6k7H

📲 Apply now: https://lnkd.in/eAhMGX4G

🎥 Here’s a dynamic video summary of our latest « WAIFC AI Report »🤝 shaping the future of AI in finance.

The 2026 AI Report by the World Alliance of International Financial Centers (WAIFC) and coordinated by our member ADGM, developed with leading international financial centers, highlights a clear reality:

⏳AI is no longer a trend as it is now deeply embedded across financial services, transforming compliance, decision-making, customer experience, and operational efficiency.

🤝From generative AI to autonomous systems, the report also raises critical questions around governance, ethics, and regulation — areas where collaboration between financial centers becomes essential.

📊 This video gives you a quick, high-impact overview.

If you want to go deeper and explore the full insights, access the report here: 📲 https://lnkd.in/eEEV2gPD

With approximately USD 228.7 billion in total assets under management, Man Group plc has submitted its application for a Category 3A licence as part of its commitment to establish a presence in ADGM, subject to regulatory approval.

The planned presence reflects Man Group's continued expansion in the Middle East and its intention to establish a strategic hub in Abu Dhabi, strengthening engagement with regional investors and further expanding its global operating footprint. The firm's decision follows longstanding engagement with Abu Dhabi and builds on decades-long partnerships across investment, research and knowledge-sharing.

Man Group's announcement comes amid strong momentum for ADGM, with leading global asset managers continuing to establish regional bases in Abu Dhabi. The development further reinforces Abu Dhabi's position as a leading international financial centre and as the Capital of Capital, connecting global capital flows across major markets.

Photo: HE Ahmed Jasim Al Zaabi, Chairman of ADGM, and Robyn Grew, CEO of Man Group, on the occasion of their meeting at the Milken Global Conference 2026.

Read more here: https://lnkd.in/dFfh7Mqv

🤝 The Astana Finance Days 2026 partner network is continuing to grow – and we're grateful to those already on board.

🔥 Together, we're unlocking new opportunities for deals, investments, and strategic collaborations on the global stage.

Join the forum's partner community and position your brand within the international financial ecosystem.

📩 Apply for partnership: partnership@aifc.kz

Today marks the end of the Bahamas Global Wealth Summit 2026! We’ve enjoyed two days of excellent dialogue, exploring new strategies for wealth management and gaining practical insights for our industry.

Day 2 commenced with a fireside chat on wealth preservation discussing strategy, geopolitics & regulation. Frezer G. Haile, Ph.D, moderated by Reno A. W. Miller MBA, Chartered Banker, explored how global shifts reshape preservation strategies.

This session set the stage for further discussions on:

▪️ Advanced structuring solutions - exploring vehicles across common and civil law traditions, such as Trusts, Foundations, and Usufruct, alongside the evolving role of digital assets in wealth preservation.

▪️ The Bahamas wealth ecosystem in practice - case-based sessions demonstrating how an integrated ecosystem functions cohesively in complex, multi-jurisdictional scenarios.

Our experts today included Julia Koga da Silva, Joel Friedlander, Nia Rolle-Campbell, Sam Campbell Jr., Deno Cartwright, Esq. MBA, CFP, Nicola McKinney, Keith Davies , Reno A. W. Miller MBA, Chartered Banker,

Fania Joseph, Theo B., Tiffany Norris-Pilcher and Jamaal Wright, MBA Bsc.

A sincere thank you to all our distinguished speakers and participants for their invaluable contributions to an insightful Day 2!

"Our goal is to reach 500 professionals by 2030 to support the secure digital transition across Morocco and Africa." — Oumaima Baira, Director at Deloitte Cyber.

As a proud member of the Casablanca Finance City ecosystem, Deloitte's Cyber Center leverages 12 nationalities to provide world-class protection for industries, financial sectors, and governments. In this latest episode of #CFCSuccessStories, Oumaima Baira, Cyber Director at Deloitte, explains how their 360° vision is supporting the continent's digital transformation.

🎥 Watch the video to discover their insights and regional strategy.

Founded in #DIFC, Sarwa ثروة has surpassed USD 1 billion in client assets, becoming the first UAE founded FinTech platform to reach the milestone.

Having participated in the inaugural DIFC FinTech accelerator programme in 2017, graduated from the DFSA’s regulatory sandbox, and received backing from the DIFC FinTech Fund, Sarwa’s growth reflects the strength of the UAE’s evolving financial and innovation ecosystem.

The milestone also highlights rising retail investor participation across the region, as digital adoption and demand for accessible investment platforms continue to accelerate across the GCC.

Yesterday, the 6th Lagos International Financial Center (LIFC) Council Meeting brought together key leaders to review progress, strengthen institutional alignment, and advance the next phase of execution for the Lagos International Financial Centre.

The meeting was chaired by Mr. Babajide Olusola Sanwo-Olu, Governor of Lagos State, with Mr. Aigboje Aig-Imoukhuede, CFR, Chairman of EnterpriseNGR, serving as Co-Chair.

As strategic engagements continue, EnterpriseNGR remains committed to working closely with the Lagos State Government and key stakeholders to support the delivery of an enabling financial ecosystem that deepens domestic capital markets, attracts long-term investment, and strengthens Nigeria's position within the global financial system.

We're looking ahead to Panel 1 at Digital Asset Funds and MiCA: Malta's Established Advantage in Warsaw.

From Early Digital Asset Funds to Today's Preferred Fund Structures and Operating Models will feature:

• Stefania Grech, Swissquote Financial Services (Malta) Ltd

• Omar Cascun, Apex Group Ltd

• Filip Suchta, Q Securities

• Andrew Caruana Scicluna, Camilleri Preziosi Advocates

• Ian Meli, Malta Financial Services Authority (MFSA)

• Heinz Daxl, Altarius Asset Management Ltd

Join us on 21 May at Sheraton Grand Warsaw. Register here: https://lnkd.in/daQcPrQy

Launch of the Cyber Insurance workshop to enhance risk management and coverage design in line with global best practices, and to build stronger digital resilience.

𝗖𝗼𝗻𝗻𝗲𝗰𝘁𝗶𝗻𝗴 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝘄𝗶𝘁𝗵 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀: 𝗘𝗻𝗴𝗮𝗴𝗲𝗺𝗲𝗻𝘁, 𝗗𝗶𝗮𝗹𝗼𝗴𝘂𝗲 & 𝗟𝗶𝗾𝘂𝗶𝗱𝗶𝘁𝘆

Investors – both institutional and retail – form the backbone of healthy and vibrant capital markets, with investor relations serving as a vital bridge between listed companies and the investment community.

FSDC was pleased to meet with the Hong Kong Investor Relations Association (HKIRA), as part of our latest #IndustryOutreachSeries, to exchange views on better supporting listed companies, particularly small- and mid-cap issuers, in broadening their investor base and enhancing liquidity. This exchange also explored strategies to strengthen investor engagement and facilitate greater connectivity with the global investment community.

By engaging cross-sector stakeholders, FSDC aims to translate insights into actionable recommendations that affirm Hong Kong's role as a leading international financial centre.

2 weeks to go before AFME (Association for Financial Markets in Europe)'s European Financial Integration Conference 2026, taking place on the 19 - 20 May 2026. Register now with promocode FMF15 and save 15% http://bit.ly/3ZXJPru

Istanbul is not just a backdrop. It defines the pace of life and work.

For those building their careers at its heart, ambition takes shape at the Istanbul Financial Center.

Secure your place: https://lnkd.in/dUdu3sh9

International finance is increasingly collaborative.

As clients and investors look to access structures and opportunities across multiple jurisdictions and time zones, international finance centres (IFCs) have an important role to play in helping them navigate that complexity with confidence.

In this clip, from a recent Commonwealth Enterprise and Investment Council (CWEIC) webinar ahead of #CHOGM2026, our CEO Joe Moynihan highlights why greater cooperation between IFCs is vital to supporting global investment and capital mobilisation across the Commonwealth. Read a summary of the discussion on our website: https://lnkd.in/dR-mQ48V

You can also watch the full webinar on the Government of Jersey's YouTube channel: https://lnkd.in/dTDgxKRs

🇷🇼 Rwanda Moves Decisively: Parliament Adopts Landmark Virtual Assets Law ⚖️

The Rwanda Parliament (Senate & Chamber of Deputies) has unanimously adopted a comprehensive law regulating virtual assets and digital currencies.

This milestone signals a direction from informal markets to a regulated, investable ecosystem.

🔍 What This Means

▪️ Formalisation of the Market

Participants in Rwanda's virtual asset space now have a pathway into a licensed, transparent and legally protected ecosystem.

▪️ Regulatory Oversight

Primary supervision shifts to the Capital Markets Authority Rwanda, working in coordination with the National Bank of Rwanda (NBR).

▪️ Licensing & Compliance

All Virtual Asset Service Providers (VASPs) must now work towards:

✔️ Obtaining formal licenses

✔️ Meeting strict operational and disclosure standards

✔️ Complying with robust AML/CTF frameworks

▪️ Tokenisation Enters the Legal Framework

The law formally recognizes tokenisation of real-world assets, opening new frontiers for investment, liquidity and financial innovation.

▪️ Strong Enforcement Mechanisms

Significant penalties for non-compliance including fines and custodial sentences, underscore a commitment to market integrity and consumer protection.

Rwanda's approach reflects a broader continental trend of regulation over prohibition and structure over fragmentation; bringing previously "shadow" activity into the formal economy.

🇨🇭Join us in Zurich on 21 May for an exclusive Digital Assets Workshop, bringing together senior professionals for an exchange on the future of finance.

Designed as a highly interactive session, the workshop will feature roundtable discussions across three key pillars: cash, securities and crypto, offering participants the opportunity to share practical insights, challenges and use cases with peers and experts.

The event will conclude with a networking reception, providing a more informal setting to continue the conversation and strengthen connections within the digital assets community.

This is an invitation-only event, with registrations subject to prior verification. However, we warmly encourage you to express your interest in attending.

🔗 Full agenda & registration: https://lff.social/bd7d79

Many thanks to our sponsors: Banking Circle & Elvinger Hoss Prussen

𝐂𝐨𝐧𝐧𝐞𝐜𝐭𝐢𝐧𝐠 𝐀𝐟𝐫𝐢𝐜𝐚'𝐬 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐂𝐞𝐧𝐭𝐫𝐞𝐬 𝐨𝐧𝐞 𝐂𝐨𝐧𝐯𝐞𝐫𝐬𝐚𝐭𝐢𝐨𝐧 𝐚𝐭 𝐚 𝐓𝐢𝐦𝐞

We were delighted to host Jean-Marie Kananura, Chief Investment Officer, and Jean Paul Tumusifu, FICP, of the Kigali International Financial Centre at our offices last Wednesday.

The engagement, hosted by our CEO Daniel Mainda, provided a meaningful opportunity to explore areas of shared interest and deepen institutional collaboration. Discussions focused on:

• Knowledge exchange and cross-institutional learning

• Co-creation and participation in regional initiatives and events

• Facilitation of passporting licence opportunities

• Advancing regional financial integration

• Benchmarking synergies toward a future Memorandum of Understanding

We believe that a connected East Africa is a more competitive East Africa. Engagements such as these reinforce the spirit of collaboration that will shape the future of the region's financial ecosystem.

We look forward to deepening this partnership with the Kigali International Financial Centre and the milestones ahead.

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

The best insights come directly from the people building within your ecosystem. 💡

Our CEO, Mansoor Al-Khater, and leadership team sat down with digital asset and fintech startups at the QFC Tech Circle for an open conversation about their experience within QFC.

These sessions are at the heart of what we do. Hearing directly from the companies we support - understanding their journey and where we can continue to grow together - drives everything we build. The conversation was insightful, and the feedback we received will directly shape the next steps we take as a platform. 🤝

We are grateful to our Tech Circle community for their time, their candour, and their trust in us. This is exactly the kind of dialogue the QFC Tech Circle was built for.

The insurance industry is facing a two-pronged transformation: the shortage of skilled workers is growing, while digital technologies are changing processes and customer expectations.

The Insurance Day hosted by the Stuttgart Region Chamber of Industry and Commerce on June 29, 2026, will highlight the decisions that must be made now to ensure continued success in the future. The focus will be on strategies to address the shortage of skilled workers, the potential of automation and AI, and the creation of sustainable business models to reach new customer groups.

Together with experts, concrete approaches will be discussed for an industry that is repositioning itself amid social change and digital progress.

Registration is available at the following link: https://lnkd.in/d4suaKBq

Jürgen Leinwand

The Co-Chair of our Liberalisation of Trade in Services (LOTIS) Expert Advisory Group, John Cooke, gave evidence this week to the House of Lords International Agreements Committee inquiry into Trade in a Turbulent World.

As well as setting out the priorities of financial and related professional services industry, he highlighted that while free trade agreements remain important for securing preferential market access, they're not always the most effective route for services. In many cases, trade policy tools focused on regulatory cooperation, investment protection or legal certainty can deliver outcomes more quickly and with less complexity.

He also took the opportunity to highlight the industry's reliance on the global rules‑based trading system, warning that paralysis at the WTO risks undermining confidence in international rule‑making. For our part, we have called for urgent reform to enable effective plurilateral agreements and ensure the system remains fit for purpose.

The recording and the transcripts of the session can be found here:

https://lnkd.in/e6s-QrN9