Financial Center News #157

I am delighted that so many of our members are traveling to strengthen the crucial international connectivity of their financial centers. (You can read more about the importance of international networking here: https://financial-centers.org/publications/financial-center-performance/ ). The Jersey Finance team is currently traveling in the US and Asia; a delegation from the Hong Kong Financial Center, led by the Chief Executive of Hong Kong, visited the Astana International Financial Centre; Casablanca Finance City is in Amsterdam; and Luxembourg for Finance is almost always on the road, though they'll be at home next week for their AI and Tech Summit 'Nexus'.

After receiving and reading a record number of contributions to our World Alliance Young Academic Award 2026 in recent days, I will also be traveling. Tomorrow to Amsterdam, where I will speak at the Future Finance Fest (https://3f.live/), a unique academic-practitioner gathering for accelerating responsible financial innovation. (They look for sponsors for their next events – please contact me if you are interested.) And on Monday, to Luxembourg. You can also meet me at the Point Zero Forum (https://www.pointzeroforum.com/) in Zurich later this month and at the Vietnam Financial Forum (https://vietnamfinancialforum.com/) in July, where I will give a keynote speech.

📚 New insights from the WAIFC network.

Two World Alliance of International Financial Centers (WAIFC) members have recently published reports exploring the future of economic growth, capital markets, and financial competitiveness in an increasingly complex global environment.

🇳🇬 EnterpriseNGR has released its 2026 Macroeconomic Outlook: Reform-Led Stability – Boosting Confidence, Unlocking Sustainable Growth.

The report highlights Nigeria's improving macroeconomic fundamentals and the positive impact of ongoing economic reforms on investor confidence and sustainable growth.

Key insights include:

🔹 Foreign exchange reforms have strengthened market liquidity and restored confidence in the Naira.

🔹 Foreign reserves reached $45.5 billion by Q4 2025, providing more than 10 months of import cover.

🔹 Real GDP growth reached 3.98% in Q3 2025, driven primarily by non-oil sectors.

🔹 Inflation declined to approximately 15.15%, its lowest level in five years.

🔹 Nigeria attracted nearly $21 billion in foreign investment during the first ten months of 2025.

The report illustrates how structural reforms, policy consistency, and economic diversification can strengthen macroeconomic stability while positioning Nigeria as an increasingly attractive destination for global investment.

📲 Link to the report: https://lnkd.in/etGpfXjK

🇩🇪 Meanwhile, Frankfurt Main Finance has published its 2026 Financial Centre Report, outlining a comprehensive strategy to strengthen Frankfurt's position as one of Europe's leading financial hubs.

Key insights include:

🏦 Europe faces major financing challenges related to digitalization, infrastructure, energy transition, and defense investments.

🏦 Stronger capital markets and broader wealth creation through long-term investment are essential to support future economic growth.

🏦 Frankfurt's unique concentration of banks, asset managers, insurers, regulators, and market infrastructure remains a major competitive advantage.

🏦 The report calls for further simplification of regulation, increased competitiveness, and deeper capital market integration across Europe.

🏦 Frankfurt aims to further strengthen its global standing and break into the Global Financial Centres Index (GFCI) Top 10.

The report highlights how financial centers can play a strategic role in mobilizing capital, fostering innovation, and supporting Europe's long-term economic transformation.

Congratulations to EnterpriseNGR and Frankfurt Main Finance for contributing valuable research and thought leadership to the global financial ecosystem.

📲 Link to the report: https://lnkd.in/eb8FM4Be

📚 New insights from the WAIFC network.

Two members of the World Alliance of International Financial Centers (WAIFC) have recently published reports exploring how emerging technologies are reshaping financial services and investment management.

🇯🇪 Jersey Finance has released The Impact of Stablecoins.

The report highlights the rapid growth of the stablecoin market and examines how these digital assets are becoming an increasingly important component of the financial ecosystem, particularly for private market fund managers.

Key insights include:

🔹 Stablecoins are emerging as a bridge between traditional finance and decentralized finance.

🔹 They have the potential to significantly improve operational efficiency across the asset management industry.

🔹 Combined with tokenization, stablecoins could make private market investments accessible to a broader range of investors.

🔹 Regulatory harmonization remains essential for mainstream adoption.

🔹 Asset managers will increasingly need to integrate stablecoins into their long-term operational and investment strategies.

The report suggests that stablecoins may transform financial operations in much the same way the Internet transformed business processes in the 1990s.

📲 Link to the report: https://lnkd.in/eyRNYHPV

🇰🇿 Meanwhile, AIFC (Astana International Financial Centre), through the Astana Financial Services Authority (AFSA), has released its Report on the Application of Generative AI in Financial Services in AIFC.

Based on a survey of Authorized Persons operating within the AIFC ecosystem, the report provides valuable insights into the current state of AI adoption across financial services.

Key findings include:

🤖 45% of surveyed firms are already using AI, either directly or through third-party providers.

🤖 Most organizations remain in the exploration phase, with only 5% reporting full-scale implementation.

🤖 AI adoption is currently concentrated in customer communications, marketing, and operational efficiency.

🤖 Productivity gains, automation, and data analytics are identified as the most significant benefits.

📲 Link to the report: https://lnkd.in/ebvJpfAb

The report underscores both the growing interest in generative AI and the importance of responsible governance frameworks to support safe and effective adoption across the financial sector.

Congratulations to Jersey Finance and AIFC (Astana International Financial Centre) for contributing valuable research and thought leadership to the global financial ecosystem.

📚 New insights from the WAIFC network.

Two World Alliance of International Financial Centers (WAIFC) members have recently released thought-provoking reports exploring technologies that could fundamentally reshape the future of finance.

🇱🇺 Luxembourg for Finance, in collaboration with OMFIF, published Tokenisation Frameworks: Realising the Promise of Tokenisation.

The report highlights a critical reality: tokenisation is no longer a theoretical discussion. As regulators and market participants increasingly recognize its benefits, attention is shifting toward legal structures, investor protections, and the regulatory frameworks needed to support large-scale adoption.

Among the key takeaways:

🔹 Not all tokenised assets confer the same rights or ownership structures.

🔹 Legal clarity remains one of the most important enablers of market adoption.

🔹 Public blockchain infrastructure can support compliance, KYC requirements, and regulated financial activity.

🔹 Tokenisation has the potential to broaden access to financial markets, enhance liquidity, and unlock new forms of programmable finance.

📲 Link to the report: https://lnkd.in/e6MRPufp

🇦🇪 Meanwhile, ADGM Academy Research Centre and Hochschule Trier have released Quantum Computing in Digital Capital Markets.

While quantum computing is often discussed through the lens of cybersecurity, the report argues that its broader impact may be even more significant.

Key insights include:

⚛️ Quantum technologies could enhance portfolio optimization, execution strategies, and scenario generation.

⚛️ Future risk modeling and stress-testing capabilities may become substantially more sophisticated.

⚛️ Quantum computing could eventually reshape market structure itself by expanding what is economically computable.

⚛️ Financial institutions should begin building "quantum-ready" capabilities today rather than waiting for fully mature quantum systems.

Both reports remind us that the future of financial markets will be shaped not only by innovation itself, but by the legal, governance, and institutional frameworks that allow innovation to scale responsibly.

Congratulations to Luxembourg for Finance and ADGM for contributing valuable thought leadership to the global financial ecosystem.

📲 Link to the report: https://lnkd.in/egTSmsv7

At the Economy Middle East Summit 2026, H.E. Rashed Abdulkarim Al Blooshi, CEO of ADGM Registration Authority, said the UAE economy remains strong, supported by solid financial foundations and growing investment opportunities.

The Astana International Financial Centre and Hong Kong Exchanges and Clearing Limited (HKEX) have signed a Memorandum of Understanding to strengthen cooperation in carbon markets, green finance and sustainable development.

The MoU establishes a framework for collaboration on carbon markets, sustainable finance, environmental instruments, sustainable aviation projects, insurance and reinsurance, as well as research, knowledge sharing and capacity building.

The MoU was signed during the official visit of the Chief Executive of Hong Kong, John Lee Ka-chiu, to Kazakhstan.

Today, representatives of the Bahamas Financial Services Board (BFSB) and the Association of International Banks and Trust Companies (AIBT) paid a courtesy call on the Attorney General, Senator the Hon. Wayne Munroe, KC to discuss matters impacting The Bahamas' financial services industry and opportunities for continued collaboration.

The meeting reflects a shared commitment to strengthening The Bahamas' position as a leading international financial center and advancing initiatives that support the sector's continued growth and competitiveness.

Z/Yen Community Newsletter June 2026 - HMM's Relocation to Busan: Strengthening the City's Maritime Finance Ambition

📍Issuer: Z/Yen Group Limited*

A think tank in the City of London established in 1994 by Michael Mainelli, the Mayor of the City of London for 2023/2024. Annually, Z/Yen publishes The Global Financial Centres Index (GFCI) and The Global Green Finance Index (GGFI), ranking over 120 cities worldwide.

📍Publication date: June 1, 2026

📍Main contents

✔️HMM approved the relocation of its registered headquarters from Seoul to Busan on May 8, 2026, with plans to move the CEO's office to Busan by the end of the year.

✔️As Korea's largest shipping company and one of the world's leading container carriers, HMM's relocation marks a major milestone in Busan's emergence as Korea's maritime capital and a specialized maritime finance hub.

✔️ HMM's headquarters relocation is expected to increase demand for ship finance, maritime insurance, legal and accounting services, logistics consulting, foreign exchange, and green shipping transition financing, while strengthening the clustering effect among shipping, finance, and maritime services.

Casablanca Finance City is coming to Amsterdam!

Looking to expand your business and unlock new growth opportunities in Africa? Our team will be in Amsterdam from June 3rd to 5th.

As Africa's leading financial center, CFC acts as a strategic gateway, offering a business-friendly ecosystem and unique insights to accelerate your investments on the continent.

🤝 Let's connect and explore how we can drive impact together.

Book a meeting with us: bizdev@cfca.ma

#DIFC has welcomed Allied World as it establishes its regional office in Dubai, expanding its global footprint and strengthening its presence across the Middle East.

The move further enhances DIFC's (re)insurance ecosystem, which includes more than 135 firms and continues to attract leading global players seeking access to regional markets from the Center.

The EDB Board has approved a series of strategic measures to strengthen Mauritius' investment climate, support export growth, enhance business facilitation and advance targeted policy reform.

Key decisions include the issuance of Premium Investor Certificates, the finalization of Golden Visa guidelines, the launch of the BOAM (Bottleneck Observation and Alert Mechanism) platform, support for export promotion initiatives and new policy recommendations to facilitate investment.

[ Read the full Board Decisions ]

The Voices of EnterpriseNGR: Dr. Nicholas Nyamali, DBA

Visionary leadership is defined not only by growth, but by the ability to build institutions that endure. As Founder and Group Managing Director of Investment One Financial Services Limited, Dr. Nicholas Nyamali, DBA, has played a significant role in shaping a modern, innovation-driven financial services platform in Nigeria.

With a career spanning legal practice, consulting, banking, and executive leadership, his professional journey reflects depth, strategic discipline, and an unwavering commitment to value creation. From his experience at PwC, GTBank, and McKinsey & Company to the establishment and growth of Investment One, his work embodies the ambition, enterprise, and long-term vision that define the EnterpriseNGR community.

🎉 A very special Happy 30th Birthday to our wonderful colleague Cristina Antoniolli!

Turning 30 is a milestone worth celebrating, and we're so lucky to have you as part of the FinanceMalta family. Here's to you,may this new chapter bring you everything you deserve! 🥂

Happy Birthday Cristina, from all of us at FinanceMalta! 🎂

The #FSA has inked a pact to operate an integrated Contact Center aimed at enhancing public communication channels and improving beneficiary experience. The contract was inked by H.E. Abdullah bin Salim Al Salmi, Executive President of the FSA, and Khalid bin Saleh Al Husseini, CEO of Labbik.

𝗣𝗿𝗼𝗽𝗲𝗹𝗹𝗶𝗻𝗴 𝗔𝗜-𝗣𝗼𝘄𝗲𝗿𝗲𝗱 𝗙𝗶𝗻𝘁𝗲𝗰𝗵 𝗖𝗼𝗹𝗹𝗮𝗯𝗼𝗿𝗮𝘁𝗶𝗼𝗻 𝗶𝗻 𝗚𝗕𝗔

The Greater Bay Area (#GBA) has emerged as one of the most dynamic regions for financial technology on the Chinese Mainland, driven by Shenzhen's robust innovation and technology ecosystem and Hong Kong's global connectivity as a leading #IFC.

How can Hong Kong further contribute to advancing fintech development in the region?

Echoing the opening remarks by Mr Christopher Hui, Secretary for Financial Services and the Treasury, at the Phoenix Financial Forum for the Greater Bay Area, our Executive Director, Dr Rocky Tung, joined a panel to share perspectives on Hong Kong's latest initiatives in AI-driven finance and the policy direction underpinning them.

He noted that, in line with the National 15th Five-Year Plan, Hong Kong can actively explore deeper collaboration with other GBA cities, including financial hubs like Shenzhen. Dr Tung also highlighted Hong Kong's advantage as a practical testbed – enabling access to solutions from both international and mainland AI models within a trusted market infrastructure and stable regulatory environment.

It was a valuable platform hosted by Phoenix TV, enabling meaningful exchange with mainland stakeholders, fostering collaboration and strengthening Hong Kong's role as a leading financial hub in the GBA.

How does a successful financial center emerge—and how does it remain competitive even in times of upheaval and transformation?

This question was the focus of our discussion today with the participants of the "Young Women Journalists and Finance" seminar hosted by the Frankfurt Academy for Financial Journalism (Frankfurter Akademie für Finanzjournalismus). Our Head of International Relations, Le YU, provided insights into the development of Frankfurt as a financial center—from the changes since Brexit to the establishment of key European and international institutions, and on to the topics that will shape the future of financial centers: sustainable finance, artificial intelligence, digital infrastructure, talent, and international cooperation.

Particularly engaging was the discussion that financial centers grow not only through capital and institutions, but also through the stories told about them. Journalists play a crucial role in this: they contextualize developments, highlight long-term trends, and look beyond the headlines. We are all the more pleased to have had the opportunity to contribute to fostering the next generation of financial and business journalists as part of the seminar.

Many thanks to the dedicated participants for their insightful questions and inspiring exchange.

⏰ Last call to register 👉 https://luma.com/lzpb10am

Join us on 11 June 2026 for the official launch of the report "Digital Assets, Real Economy. The Potential of Financial Instrument Tokenization in Poland and Implementation Recommendations."

This publication is the result of a collaborative effort by experts from Accenture Poland, Bird & Bird, Grupa KDPW, Warsaw Stock Exchange (GPW), Bank Pekao S.A., and PKO Bank Polski. It offers a comprehensive perspective on the opportunities, challenges, and implementation pathways for financial instrument tokenization in Poland.

During the event, we will:

▪️ present the key findings and recommendations from the report,

▪️ discuss the role of DLT technology in building modern financial market infrastructure,

▪️ explore the regulatory and legal framework needed to support the development of digital assets and tokenized markets.

📅 11 June 2026

🕤 9:30 AM – 12:00 PM

📍 Future Finance Poland Foundation, Koszykowa 8, Warsaw

🇵🇱 The event will be held in Polish

If you have not registered yet, this is your final opportunity to join the discussion on the future of digital assets and financial market innovation in Poland.

We look forward to seeing you there!

Piotr Brewiński, Mirek Kalisiak, Antonina Karwasińska, Zuzanna Krauzowicz, Piotr Rutkowski, Ministerstwo Cyfryzacji, Beata Tylman-Nowakowska, Rafał Włoczka, Rafał Wawrzyniak, Pawel Widawski, Adam Wdowczyk, Mateusz Zaród, Mariusz Ziemba, Anna Bogucka, Katarzyna Multan, FinTech Poland

We are celebrating the 11th anniversary of Ziraat Katılım, a bank that grows as we share and grows stronger as we create value.

Looking forward to tomorrow's discussion on how digital innovation is reshaping the global finance industry.

As emerging technologies and digital assets continue to transform fund structuring, operations and corporate strategy, it's more important than ever to understand the opportunities and challenges ahead.

The discussion will explore:

✔️ The impact of digital innovation on tax and fund structuring frameworks

✔️ Jersey's position as a forward-thinking international finance center

✔️ The opportunities and challenges surrounding digital assets and tokenization

✔️ How firms can integrate innovation into their business and advisory strategies

The session will provide an opportunity to hear the panel's perspectives and connect with fellow professionals from across the funds and financial services industry.

Learn more and sign up: https://bit.ly/4u7QDza

Elliot Refson, Head of Funds, Jersey Finance | Adam Cichocki, Digital Asset Lead, Grant Thornton – Offshore | Ray Dillet, Head of Financial Institutions, Bitwise Investments | Chris Griffin, Partner, Carey Olsen | Suzanne Howe, Client Relationship Director, Digital Assets and Corporate, IQ-EQ | Kate McKay, Strategy and Innovation Director, TreasurySpring | Sam Mudie, Founder and CEO, Savea

Thank you to Praxis for sponsoring our event.

The Elevate Africa team would like to take a moment to acknowledge and appreciate the individuals, organizations and partners who made our May Intensive with the Elevate Africa Fellowship Class of 2026 in Kigali, Rwanda truly memorable.

We appreciate your service, time and dedication to seeing a generation of African leaders cared for, equipped, inspired and empowered for impact across the continent. Your contribution to this journey did not go unnoticed and we are grateful for the role you played in making the experience meaningful for every Fellow.

Thank you!

Antoine Kajangwe Zurina Saban Lena Militisi Carole Karema Jeni (MIT,MBA) Teddy Mpinganzima Mugabo Kigali International Financial Centre Irembo Rwanda Development Board (RDB)The African Leadership University Ecobank Rwanda KLab Inc. Park Inn by Radisson Norrsken FIT AFRICA: Facilitating Impact and Transformation

German FinTech Riverty, a subsidiary of media conglomerate Bertelsmann SE & Co. KGaA operating across ten European markets in the "buy now, pay later" space, has secured a banking license from the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg's financial regulator. The company currently employs 15 people in the Grand Duchy and plans to double its headcount in the coming months, with banking operations set to launch in July 2026.

We hosted a strategic engagement today with the Kenya Investment Authority (InvestKenya), reaffirming the power of institutional collaboration in advancing Kenya's investment and financial services agenda.

Convened by our CEO, Daniel Mainda, the meeting brought together Kenya Investment Authority (InvestKenya) CEO, John Mwendwa, OGW alongside their respective teams to discuss areas of synergy and collaboration.

The engagement explored practical opportunities for collaboration aimed at strengthening investor facilitation, enhancing Kenya's competitiveness, and positioning Nairobi as a leading destination for regional and global capital.

With our mandates closely aligned, we remain committed to building a more seamless, attractive, and globally competitive investment ecosystem that supports innovation, enterprise, and sustainable economic growth.

Don’t miss out on TheCityUK Annual Conference 2026, taking place on Thursday 18 June at the QEII Centre in London!

As a global membership body, we support initiatives that explore what it takes for the UK to maintain its position as a leading global financial center and how financial and professional services can continue to be a powerful engine for UK-wide growth.

The event will feature keynote speeches from Jessica Rusu, Chief Data, Information and Intelligence Officer, FCA, and the Rt Hon Sir Mel Stride MP, Shadow Chancellor of the Exchequer. Other confirmed speakers include: Valerie Bannert-Thurner, Stephen Berger, Deputy Rhona Humphreys, Darren Ketteringham, Paul Landless, Sharon Lewis, Dan Neidle, Roshni Prasad, Anne Richards DBE and Atul Sodhi.

Join industry leaders, senior political stakeholders, regulators and others to discuss themes such as technology innovation, modernizing and simplifying tax and regulation, driving growth and more.

Find out more and register to attend here: https://lnkd.in/gBD8sd7N

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