Financial Center News #155

I am back from an excellent afme conference on European Financial Integration. I want to highlight the two inspiring speeches of Mário Centeno, the former President of the Eurogroup, and EU Commissioner María Luis Albuquerque, among many thought-provoking interventions. Even though we in Europe often criticize the slow pace of boosting competitiveness, we should sometimes take a step back to recognize all that we have achieved through slow but steady progress.

This week unveils a number of bilateral partnerships among World Alliance members: Astana and Istanbul, Astana and Nairobi, Lagos and Mauritius. I am glad to see such a high level of trust and willingness to collaborate.

We are pleased to see two of our members, NIFC Africa, represented by its CEO Daniel Mainda and AIFC (Astana International Financial Centre), represented by its Governor Renat Bekturov, CFA, sign a strategic Memorandum of Understanding in Astana, strengthening financial cooperation between both regions.

This landmark partnership reflects the growing importance of international collaboration between financial centres to foster:

▶️ Cross-border capital and investment flows

▶️ Fintech and financial innovation ecosystems

▶️ Sustainable and green finance

▶️ Stronger global financial connectivity

A strong example of international cooperation and shared vision within the World Alliance network. 🌐

Our members Istanbul Financial Center, represented by its CEO Ahmet İhsan Erdem and AIFC (Astana International Financial Centre) by its Governor Renat Bekturov, CFA, strengthening their cooperation during the official visit to Kazakhstan led by Recep Tayyip Erdoğan at the invitation of Kassym-Jomart Tokayev.

The signing of the Memorandum of Understanding between both financial centers marks an important step toward deeper institutional collaboration, stronger knowledge exchange, international investment dialogue, and enhanced regional connectivity across the financial ecosystem.

We warmly congratulate our members and all stakeholders involved in advancing this meaningful partnership.

At World Alliance of International Financial Centers (WAIFC), we strongly believe that cooperation between international financial centers is essential to fostering innovation, investment, and sustainable economic growth across regions.

We also extend our appreciation to the leadership of both countries for their continued commitment to regional cooperation, economic engagement, and long-term strategic partnership.

In this edition of Capital Conversations, we speak with Dr. Bhaskar Dasgupta, Founder and Principal of Sun Foundation in the ADGM district, and Independent Board Member and Advisor. With 25+ years in global trade finance and financial regulation, he now leads Sun Foundation, an ADGM-registered family office investing across diverse sectors.

Dr. Dasgupta describes Abu Dhabi as a system that moves at the speed of trust. In his view, relationships here are foundational. And when trust is established, opportunities follow naturally.

He highlights the accessibility and clarity of the regulatory environment within ADGM, where dialogue is direct, decisions are timely, and pathways forward are clearly defined. Combined with a deep and well-integrated ecosystem, spanning legal, financial, technological and advisory expertise, this creates an environment where businesses can operate with both confidence and agility.

Watch the full episode here: https://lnkd.in/dBRJ2QBv

On the occasion of International Museum Day, we are pleased to highlight a space where the history of finance is told through the most fundamental element of any economy – trust.

The Astana International Financial Centre operates a corporate project known as the "Museum of Trust" – a conceptual space that guides visitors through the key stages of Kazakhstan's financial system, from the Silk Road and the era of the Kazakh Khanate to the development of the country's modern financial infrastructure alongside the AIFC.

The exhibition brings together more than 40 artefacts, multimedia installations, and contemporary art objects. Visitors can explore cowrie shells discovered during excavations of the ancient settlement of Bozok, Chinese, Arab, and Sogdian coins, wooden counting boards, mechanical calculators, as well as the first currency and the first shares of independent Kazakhstan.

Among the key exhibits are a 1913 bond of the Jetisu Railway, a 6th-century Byzantine gold coin of Emperor Justin II, and a series of tenge banknotes from 1993, which have become a symbol of Kazakhstan's financial independence.

For the AIFC, the museum represents an opportunity to demonstrate that the region's modern financial ecosystem is built not only on international standards and technologies, but also on centuries-old traditions of trade, exchange, and trust that have existed at the heart of Eurasia for generations.

The "Museum of Trust" was launched as part of Astana Finance Days 2025. It will open to the public again during Astana Finance Days 2026, which will take place on 9–10 September at the AIFC.

Last month, under the critical theme 'Wealth Preservation Strategies in a Recalibrating World,' we convened global leaders at the Bahamas Global Wealth Summit 2026 for crucial discussions across two days on navigating today's complex financial landscape.

Throughout the summit, we explored:

▪️ Geopolitical & economic recalibration: examining its impact on capital and wealth.

▪️ Resilient wealth architecture: exploring advanced structuring solutions, including trusts, foundations, and usufructs, across common and civil law traditions.

▪️ Jurisdictional evaluation & evolution: understanding selection criteria for long-term security and the future of wealth jurisdictions.

▪️ Digital assets & the wealth ecosystem: showcasing the transformative role of digital assets and how an integrated wealth ecosystem functions in practice.

The vibrant discussions and invaluable contributions from our diverse array of speakers and moderators illuminated key pathways for strategic adaptation and effective wealth preservation.

A sincere thank you to all our distinguished speakers, partners, and participants for their commitment to advancing these critical conversations and making the Bahamas Global Wealth Summit 2026 a resounding success!

Share your highlights from the BGWS 2026 with us in the comments 👇

“Africa is not just a region; it is a vibrant continent of 54 nations and a powerhouse of untapped energy.”

In his recent interview with TV5MONDE, Casablanca Finance City CEO Said Ibrahimi reaffirmed CFC’s mission as the leading gateway for global investors seeking stable, structured and long-term access to African markets.

From economic resilience to greater integration into global business and investment flows, the message is clear: Africa is no longer simply an option, it is becoming unavoidable.

Watch the full interview: https://lnkd.in/ezZP3gbq

#DIFC has announced the launch of the Museum of Digital Art (MODA) during Art Dubai, in the presence of HH Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture & Arts Authority, H.E. Essa Kazim, Governor of DIFC, and H.E. Arif Amiri, Chief Executive Officer of DIFC Authority and Chairman of Art Dubai.

Located within the Zabeel District and to be managed by Dubai Culture, MODA represents an important addition to Dubai's cultural infrastructure and a key milestone in the DIFC Arts Strategy.

[ Mauritius and Nigeria Forge Deeper Financial Linkages to Drive Capital Inflows and Corporate Expansion ]

LAGOS, NIGERIA – 18 May 2026 | The Economic Development Board has started its high-level financial services roadshow in Lagos, hosting an exclusive Business Forum aimed at deepening bilateral investment flows and strengthening economic linkages between the two financial powerhouses.

Held under the theme, "Mauritius: Your Strategic Platform for Growth & Global Expansion," the forum convened senior executives, asset managers, institutional investors, and corporate leaders to explore sophisticated structures for cross-border investment. As Africa's largest economy seeks impact capital injection and robust risk mitigation, the Mauritius International Financial Centre (IFC) positions itself as the ideal jurisdiction for structuring inward investments and facilitating outward global expansion.

The discussions focused heavily on leveraging Mauritius's extensive and sophisticated business environment, investor protection mechanisms, and robust regulatory framework to secure Nigerian corporate scale-ups.

The event was attended by around 250 Nigerian business leaders, including the Director General of the Nigerian Tourism Development Authority, Dr. Olayiwola Awakan, Ms. Aisha Rimi, CEO, Nigerian Investment Promotion Commission and was graced by the presence of the Honourable Folashade Ambrose-Medebem, Commissioner for Commerce, Cooperatives, Trade & Investment in Lagos State, Nigeria.

The EDB and the Mauritian delegation look forward to deepening ties with the Nigerian business community.

Yesterday, we proudly partnered with the Economic Development Board Mauritius (EDB Mauritius) and the Mauritius International Financial Centre (MIFC) for the Mauritius–Nigeria Business Forum.

This partnership was driven by a shared objective: connecting our members directly with senior Mauritian public and private sector leaders to unlock cross-border investment opportunities and expand international market access.

As proud members of the African Roundtable of Financial Centres, the African arm of the World Alliance of International Financial Centres (WAIFC), this partnership reinforces EnterpriseNGR's commitment to strengthening the competitiveness, visibility, and global connectivity of Nigeria's Financial and Professional Services ecosystem.

This partnership reinforces our commitment to continuously deepen engagement across African financial centres while contributing to a stronger and more integrated regional economy.

Malta's captive insurance sector continues to strengthen its position as a leading European domicile, with growth exceeding 200% since the introduction of Solvency II in 2016.

Captives will continue to offer multinational corporations a flexible alternative where commercial insurance markets are constrained. At the same time, the strong collaboration between the Malta Insurance Management Association and FinanceMalta continues to support the sector through advocacy, knowledge sharing, and market development initiatives, says David Galea, President of the Malta Insurance Management Association, in this interview published on The Corporate Times.

‏ ‏The #FSA organized an awareness workshop for healthcare providers, insurance companies, and digital solutions companies

‏The workshop aims to enhance awareness of digital health #insurance and the Dhamani platform, while also providing specialized training and discussing current challenges to strengthen stakeholders' readiness for the next phase.

𝗜𝗠𝗙 𝗔𝗳𝗳𝗶𝗿𝗺𝘀 𝗛𝗼𝗻𝗴 𝗞𝗼𝗻𝗴’𝘀 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗥𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝗰𝗲 𝗮𝗻𝗱 𝗦𝘁𝗿𝗲𝗻𝗴𝘁𝗵𝘀

The International Monetary Fund (IMF), in its latest Article IV Mission assessment, underscores Hong Kong’s continued economic recovery while reaffirming its position as a global financial centre and super-connector between the Chinese Mainland and the rest of the world.

“Solid fundamentals, robust financial infrastructure and deep market connectivity continue to strengthen our role as a capital nexus and a gateway for international investors,” said our Chairman, Mr Benjamin Hung.

More highlights from the IMF’s assessment of Hong Kong:

-<w:t>Stronger-than-expected growth in 2025 – driven by robust technology-related exports and improving private demand

-<w:t>Manageable financial sector risks – backed by strong buffers and robust regulatory oversight

Looking ahead, the #FSDC sees further momentum underpinning Hong Kong’s development as an #IFC, building on its strengths as a leading hub for offshore Renminbi business, asset and wealth management, and risk management, while cultivating new drivers through financial innovation, enhanced market connectivity and strategic initiatives such as the Northern Metropolis.

🌍 From the financial sector’s perspective, European sovereignty is becoming increasingly important

The latest monthly survey by DVFA e. V. shows that a clear majority of investment professionals believe Europe is on the verge of taking the next major step toward integration. The focus is particularly on security and defense issues, economic competitiveness, and the greater integration of capital markets.

📊 Key findings of the survey:

🔹84% are in favor of greater European capacity for action.

🔹A security and defense union, as well as the completion of the European single market, are considered the most important areas of action.

🔹A stronger banking and capital markets union is also continuing to gain importance.

🔹The majority of respondents expect a more regionalized world order in the future.

The results make it clear: Geopolitical uncertainties, economic resilience, and strategic autonomy are increasingly taking center stage in financial and political debates in Europe.

🔗 More on the survey: https://frankfurt-main-finance.com/en/dvfa-survey-majority-calls-for-stronger-european-sovereignty/

We're shaping the future of Digital Identity and payments in Poland.🫆

At the beginning of May, a key milestone was kicked-off in the development of age verification for digital payments, with the launch of a dedicated design workshop in collaboration with mObywatel (EU Digital Identity Wallet) and a broad group of market participants, under the Future Finance Poland Digital Identity specialization.

➡️ The initiative brings together public and private sector leaders - including the Centralny Ośrodek Informatyki (COI), FFP Foundation, and leading acquirers, PSPs and merchants - to co-create scalable solutions that bridge regulation, technology and real-life payment use case.

The workshop focused on three key building blocks for market adoption:

▪️ Alignment with evolving legal and regulatory frameworks

▪️ Designing the operational model for relying parties (trust entities)

▪️ Initiating the solution design for age verification across payment journeys

At a time when regulatory pressure is increasing and digital channels continue to expand, the ability to deliver secure, compliant and user-friendly age verification is becoming a key enabler for growth in regulated sectors.

The discussions marked an important step toward establishing a practical, interoperable approach to age verification, applicable across both e-commerce and in-store environments. A big thank you to all participants for the energy, openness and expertise.

The journey continues - next workshop in early June. Stay tuned!

Happy May 19th Commemoration of Atatürk, Youth and Sports Day!

Two weeks on from our fourth Sustainable Finance Awards, we are reflecting on some of the key insights and takeaways from the evening.

🌍 From Kate Raworth's challenge to redesign finance in service of people and planet, to David Craig's focus on nature-related risk, opportunity and capital mobilisation, the event highlighted the important role finance has to play in building a more resilient future.

📊 The evening showcased Jersey-based innovation in action, including a panel discussion moderated by Dame Susan Rice with Amy King, David Postlethwaite and Simon Griffiths, CFA. They explored how technology, data and innovative financing can help move sustainable finance from ambition to implementation. Amy Blackwell, another of the judges, gave an overview of the entries for the Simon Boas Success Story award, showcasing exceptional and inspirational contributions to sustainable finance in Jersey.

🏆 Congratulations once again to all this year's winners and entrants, whose commitment is helping shape the future of sustainable finance in Jersey.

Find out more: https://jsy.fi/3PEEaou

MEDA President DOROTHY NYAMBI and her team paid a courtesy visit to our CEO Hortense Mudenge following the high-level side event convened by KIFC and MEDA on the sidelines of the Africa CEO Forum.

The discussion focused on advancing the future of African fund domiciliation and capital formation, while highlighting KIFC's value proposition as an emerging financial centre for structuring and governing capital on the continent.

B2C2 has received authorisation as a Crypto-Asset Service Provider from Luxembourg’s CSSF, making it the first OTC liquidity provider globally to obtain a licence under the EU’s Markets in Crypto-Assets regulation. The licence allows the London-headquartered firm, majority-owned by Japanese group SBI, to passport its institutional spot crypto trading services across the EU and EEA.

➡️

Today, our CEO, Daniel Mainda, shared key reflections at the Kenya Blockchain and Crypto Conference in Nairobi, underscoring a powerful reality: Africa is not waiting for the future of finance, we are already building it.

From market stalls and SMEs to cross-border entrepreneurs, digital finance has become part of everyday life. Kenya's near-universal mobile money adoption is clear proof that innovation here is driven by real needs, not theory.

However, while domestic payments are seamless, cross-border finance remains fragmented, costly, and slow. This is where the next frontier lies.

Blockchain, stablecoins, and tokenized finance matter not because they are fashionable but because they directly address Africa's financial fragmentation.

The opportunity ahead is to build systems that enable:

* Faster, cheaper cross-border payments

* Interoperable financial ecosystems

* Broader access to capital for African businesses

* Smarter participation of the diaspora in Africa's growth story

This is not just a technology shift. It is an infrastructure shift.But infrastructure only works where trust exists. That is why regulation must strike the right balance to protect consumers while enabling innovation to scale responsibly.

At the NIFC Africa our role remains clear: to position Nairobi as a trusted gateway for capital, innovation, and financial institutions building for Africa.

QFC has signed an MoU with Qatar Chamber to deepen cooperation in supporting Qatar's private sector and attracting global investment, expertise, and technologies to the Qatari market.

Under the agreement, QFC-licensed companies will be able to access Qatar Chamber's full suite of services, including the issuance of certificates of origin and document certification, streamlining operations for businesses on the QFC platform.

The partnership will also see both organisations collaborate on joint events and seminars, promote initiatives of mutual interest, and coordinate efforts to facilitate foreign direct investment and economic cooperation across Qatar.

How do Britain's financial and related professional services exports compare with the rest of our export economy?

Our latest analysis shows they are not a niche – they are central to the UK's export performance. The latest blog from Anjalika Bardalai, our Chief Economist and Director, Economic Research, explores the resilience of services exports in the current volatile global environment and how they are a major driver of economic growth.

Read the full blog on our website: https://lnkd.in/e3Vv_8wp

Kenya's capital markets had hit a historic milestone with the launch of the TRIFIC Green USD-denominated I-REIT.

Want to know how you can earn a stable, 8% USD annual yield backed by global tenants in the TRIFIC SEZ? Join us tomorrow at 8 PM EAT for an exclusive X Spaces deep-dive hosted by Mwango Capital to discover how this limited offer opens doors for your wealth creation.

On the Panel: Brenda Mbathi – CEO, TRIFIC SEZ and PIUS MUCHIRI, CFA – CEO, Nabo Capital (REIT Manager). Join the discussion by scanning the QR code or using the link to set your reminder and secure your spot: https://lnkd.in/exApcdzT