Financial Center News #159

The week started for me with the Frankfurt EURO FINANCE Summit 2026, excellently organized – as always – by dfv Euro Finance Group. The main topic was Germany’s “Equity Story,” or whether the huge additional pile of government debt (euphemistically referred to by German policymakers as a "Sondervermögen") has begun to have an impact rather than merely filling household gaps.

Meanwhile, World Alliance representatives attended the Tashkent International Investment Forum and participated in a high-level panel discussion on the new Tashkent International Financial Center. A senior delegation from Vietnam's new International Financial Center visited the Hong Kong Financial Center. Our member, TheCityUK, held its Annual Conference in London. The Lagos International Financial Center visited London. And so on. A flurry of activity before summer break.

Fortunately, I have also found time to do some desk work. My practitioner's paper on AI and Financial Centers is out – the third in my short series of working papers on measuring international finance. You can find it here: https://financial-centers.org/publications/ai-financial-centers/. Please enjoy reading it. The fourth one on FinTech ecosystems is already in the making.

I wish you a relaxing weekend.

🎙️At the Tashkent International Investment Forum, the World Alliance of International Financial Centers (WAIFC) contributed to a highly insightful panel discussion on the development of the Tashkent International Financial Center following the President’s opening address, where TIFC was highlighted as a key strategic priority for Uzbekistan.

🗣️The panel brought together senior leaders from government, global financial institutions, the private sector. Moderated by the World Alliance of International Financial Centers (WAIFC)’s Vice Chair, Hubertus Väth, and featuring WAIFC’s Head of Member Relations, Akshu S Campbell-Holt, the discussion explored how emerging financial centers can successfully move from ambition to delivery, drawing on the experiences and development journeys of established international financial centers.

The World Alliance of International Financial Centers (WAIFC) provides a valuable platform for knowledge exchange, collaboration, and sharing of best practices. As an Observer of the World Alliance, Tashkent is already connected to this international community and can draw on the collective experience of financial centers across multiple regions.

🤝We look forward to supporting TIFC's continued development and engagement with the global financial center community.

Special mentions:

Shavkat Mirziyoyev, President of the Republic of Uzbekistan

Hubertus Väth, Managing Director, Frankfurt Main Finance

Nodirjon Juraev, Administration of the President of the Republic of Uzbekistan

Akshu S Campbell-Holt, Head of Member Relations, World Alliance of International Financial Centers (WAIFC)

Kashif Riaz, Managing Director, BlackRock FMA

Mark Beer, OBE, Co-Founder and Chairman, Metis Institute

Karen Srapionov, Director of Investments, Franklin Templeton

Sergey S., General Counsel, Uzum

Alena Dolgova

Aleksey Sim

📚 New insights from the WAIFC network.

Two members of the World Alliance of International Financial Centers (WAIFC) have recently published reports exploring the future of wealth management, financial resilience, and capital market development in a rapidly evolving global environment.

🇧🇸 Bahamas Financial Services Board has released the latest edition of the Bahamas Global Wealth Journal, titled The Evolving Landscape of Wealth Security.

The publication highlights why The Bahamas continues to strengthen its position as a trusted international financial center, combining regulatory excellence, political stability, and global connectivity with a high quality of life.

Key insights include: 🔹 The Bahamas continues to serve as a trusted jurisdiction for wealth preservation, asset protection, and estate planning amid global uncertainty. 🔹 The report emphasizes the importance of policy leadership and regulatory excellence as the two pillars sustaining investor confidence. 🔹 Family offices, global entrepreneurs, and international investors increasingly seek jurisdictions that combine financial sophistication with long-term stability. 🔹 The Bahamas is successfully bridging the gap between traditional wealth management and emerging innovation-driven financial services. 🔹 The publication also highlights opportunities in real estate, entrepreneurship, cultural investment, and second-home residency solutions for high-net-worth individuals. The journal demonstrates how international financial centers can create value not only through financial services, but also by offering a comprehensive ecosystem that combines security, opportunity, and quality of life.

📲 Read the report: https://lnkd.in/dXAMPKPA

🇰🇿 Meanwhile, the AIFC (Astana International Financial Centre) has published Capital Markets in Kazakhstan, Uzbekistan, Kyrgyzstan, and Azerbaijan: Prospects and Trends.

The report provides a comprehensive overview of capital market development across Central Asia and the Caucasus, highlighting both recent progress and future opportunities.

Key insights include: 🏦 Kazakhstan remains the region’s most advanced capital market, supported by investment-grade ratings, deep domestic savings pools, and mature market infrastructure. 🏦 The coexistence of KASE and AIX creates a unique institutional framework that combines local liquidity with international investor access and cross-border financing capabilities. 🏦 Uzbekistan continues to advance through state-led reforms, with debt markets playing a leading role in capital market development. 🏦 Azerbaijan and Kyrgyzstan are implementing structured strategies to strengthen market infrastructure, broaden participation, and improve issuer readiness.

📲 Read the report: https://lnkd.in/dZwt6ySs

#WAIFC #Finance

🚀 We are pleased to annonce the World Alliance of International Financial Centers (WAIFC) as an Ecosystem Partner for World AI Show Indonesia & Finance 2045.

The World Alliance of International Financial Centers (WAIFC) is a non-profit association representing leading international financial centers worldwide. Through collaboration, knowledge sharing, and policy dialogue, the World Alliance plays a vital role in fostering innovation, sustainable finance, fintech development, and cross-border cooperation across the global financial ecosystem.

By connecting financial centers, policymakers, regulators, investors, and industry leaders, the World Alliance continues to drive meaningful discussions around the future of finance, digital transformation, and economic growth.

Join us at World AI Show Indonesia & Finance 2045 on 📅 7–8 July 2026 at 📍 Sheraton Grand Jakarta, Indonesia.

📲Secure your pass today – Apply Here: https://lnkd.in/eTPjacSC

#Finance2045 #WAISIndonesia #WorldAIShow #WAIS2026 #Fintech #DigitalFinance #FinancialCenters #Innovation #ArtificialIntelligence #EnterpriseAI #DigitalTransformation #FutureOfFinance #Jakarta

Wishing our community, partners and colleagues a happy and prosperous Hijri New Year.

May the year ahead bring success, wellbeing and many reasons to celebrate.

Happy Hijri New Year!

Against this backdrop, the Astana International Financial Centre hosted an expert roundtable on the development of AI infrastructure in Kazakhstan and Central Asia.

During the event, AIFC Insights presented the preliminary findings of its upcoming report, AI as Infrastructure: Capital, Compute and Investment Opportunities. Participants included representatives of the Administration of the President of the Republic of Kazakhstan, the Digital Government Support Center, Nazarbayev University, AI Association, AKASHI DATA CENTER, Presight, MOST Ventures, Quantum Capital, Axiom Capital, TSARKA and other organizations.

According to participants, one of the most realistic opportunities for Kazakhstan lies in developing the infrastructure layer of AI, including data centres, GPU clusters, cloud platforms and data storage infrastructure. This could support investment inflows, strengthen digital infrastructure and create new opportunities for technology projects across the region.

The discussion also addressed key challenges facing the sector, including access to energy capacity, network connectivity, the development of sustainable demand and the mobilisation of long-term capital.

Particular attention was given to the role the AIFC can play in supporting this agenda. Through its capital market ecosystem, transaction structuring capabilities, investment funds, and sustainable and Islamic finance instruments, the AIFC can help facilitate investment into next-generation digital infrastructure projects.

The recommendations and insights gathered during the roundtable will be incorporated into the final version of the AIFC Insights report. Further details on the publication of the study will be announced in due course.

In an increasingly interconnected global economy, what truly distinguishes a leading international financial center?

Our latest BFSB newsletter article, 'Mature Financial Ecosystems as a Strategic Advantage,' explores how institutional depth, professional expertise, and coordinated governance remain the most enduring differentiators in today's complex financial landscape.

Key insights include:

▪️ Ecosystem maturity is shaped not only by regulation, but by how well institutions, professional services, legal systems, and regulatory authorities operate together.

▪️ The Bahamas' financial services sector functions as an interconnected framework of regulators, professional firms, fiduciaries, administrators, and financial institutions, supported by a common law system and stable parliamentary democracy.

▪️ This integrated approach has supported the development of expertise across private wealth management, banking, trust administration, investment funds, and emerging financial services activities.

Read the full article here: https://lnkd.in/eNXsN3qv

🌐 Navigating the #AI Frontier in #Busan

Last night, the Co-Labs Global AI Futures Forum Leadership Dinner successfully concluded in Busan.

We convened a powerful cohort of leaders spanning diverse sectors including higher education, tech innovators, and finance pioneers. The room was buzzing with high-impact dialogue on both the immense opportunities and the complex challenges that lie ahead.

A central theme of the evening was the safeguarding role of regulation. We delved deep into how strategic framework planning can protect institutions while simultaneously driving responsible, cutting-edge innovation.

A special thank you to Sarah Sinclair, CEO of Co-Labs Global, Co-Labs Global Youth and our esteemed partners 주한영국상공회의소, and Network Busan for making this cross-sector collaboration such a resounding success.

🤝 Laura McLuckie (로라맥러키)Paul Edwards MBE Mark Balneger Mahnwoo Kwon Mollie Sinclair Lucinda Walker Oliver Edmunds Euna Kim

We are pleased to share the successful completion of a preparatory mission to Cameroon (June 8–10, 2026) ahead of the 3rd edition of the CFC Africa Tour, scheduled for November 2026.

During the mission, the Casablanca Finance City delegation visited Yaoundé and Douala and held a series of meetings with key public and private sector stakeholders, with the valuable support of the Embassy of the Kingdom of Morocco in Cameroon.

In Yaoundé, discussions were held with several strategic ministries, including the Ministries of Economy, Finance, Trade, Agriculture and Environment, as well as with API CAMEROUN- IPA CAMEROON.

In Douala, the delegation met with the Chambre de Commerce, d'Industrie, des Mines et de l'Artisanat du Cameroun (CCIMA), the Cameroon Business Association (GECAM) and several leading companies.

The mission aimed to mobilize Cameroonian partners for the upcoming Africa Tour, identify the country's priority sectors and explore opportunities to further strengthen economic and investment ties between Cameroon and the CFC ecosystem.

As one of the largest and most diversified economies in Central Africa, Cameroon represents a strategic partner for the CFC ecosystem.

We look forward to building on these exchanges during the 3rd edition of the CFC Africa Tour in November 2026.

As the Hijri New Year begins, DIFC wishes you a year of peace, purpose and prosperity.

May the year ahead bring new opportunities and continued success.

Register now and discover why Mauritius remains the preferred bridge for capital and domiciliation.

As global investors seek stable, trusted and efficient platforms to structure their international investments, Mauritius continues to stand out as a prime International Financial Centre (IFC) and hub for Africa.

Join our distinguished panel of industry leaders and experts as they explore how the Mauritius platform offers:

• A robust and internationally recognised IFC

• Political and economic stability

• Access to an extensive network of tax treaties and investment protection agreements

• Efficient structures for funds, family offices and cross-border investments

• A neutral and credible jurisdiction connecting the Middle East, Africa and global markets

📅 25 June 2026

🕑 14:00 hrs (Mauritius/UAE Time)

This webinar will provide valuable insights into how Mauritius can support your regional and international expansion strategies while offering certainty, substance and long-term value.

Registration Link: https://lnkd.in/dTwTgfsY

Yesterday in London, the work to establish the Lagos International Financial Centre (LIFC) took another important step forward.

The Lagos International Financial Centre Council, comprising representatives of the Lagos State Government and EnterpriseNGR, met with delegates from TheCityUK at the The Chartered Institute for Securities & Investment (The CISI) for an intense and highly collaborative strategy session.

The engagement provided an opportunity to review the progress made so far in the development of the LIFC, reflect on key lessons from the Phase 2 launch, and align on the critical actions required to move to the next phase.

As Lagos continues its journey towards becoming a globally competitive financial centre, strategic partnerships like this are essential. They bring together local ambition, international experience, private sector leadership and institutional commitment around one shared objective: positioning Lagos as a trusted gateway for capital, investment, innovation and professional services in Africa.

The road ahead is important, but the direction is clear.

The establishment of the Lagos International Financial Centre is not just a Lagos project; it is a strategic opportunity to deepen Nigeria’s financial ecosystem, strengthen investor confidence and unlock new pathways for growth across the continent.

Strengthening international connections in Malta.

FinanceMalta was pleased to welcome members of the visiting family office delegation for dinner at Rosami Restaurant during the familiarisation visit, sponsored by Alter Domus Malta.

The evening included contributions from Przemyslaw Koger (PK), Domenic Azzopardi and Claire Domancich of Alter Domus, together with Joe Zammit Tabona, who shared perspectives on Malta’s financial services ecosystem and its growing family office proposition.

As Malta continues to build its position as an emerging hub for family offices, gatherings like these are an important opportunity to connect international delegates with local expertise, institutions and market leaders.

A sincere thank you to Alter Domus Malta for sponsoring the dinner, and to all speakers, guests and partners who helped make the evening a success.

▪︎ The Financial Services Authority is finalizing the process of linking pharmacies and their branches to the national health insurance platform “Damani,” enabling them to exchange information on medications, approvals, and insurance claims electronically, eliminating the need for paper-based procedures.

▪︎ The integration process has been completed for 70% of the 271 pharmacies registered on the “Damani” platform, a step that contributes to advancing digital transformation and improving the efficiency of services provided to beneficiaries.

𝗦𝗵𝗮𝗿𝗶𝗻𝗴 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝘄𝗶𝘁𝗵 𝗩𝗶𝗲𝘁𝗻𝗮𝗺 𝗗𝗲𝗹𝗲𝗴𝗮𝘁𝗶𝗼𝗻 𝗼𝗻 𝗕𝘂𝗶𝗹𝗱𝗶𝗻𝗴 𝗙𝘂𝘁𝘂𝗿𝗲-𝗥𝗲𝗮𝗱𝘆 𝗜𝗙𝗖𝘀

Amid an accelerating trend of Asian cities pursuing the development of International Financial Centers (#IFCs), Hong Kong draws on its experience to share practical perspectives that can support their journeys.

The #FSDC was delighted to welcome a senior delegation from the Vietnam's International Financial Centre in Ho Chi Minh City (VIFC) – Da Nang, one of Asia’s aspiring IFCs, for a meaningful exchange on financial innovation.

Our Executive Director, Dr Rocky Tung, and Director of Policy Research, Dr Fielding (Shiyuan) Chen, shared Hong Kong’s journey to becoming a global #DigitalAsset hub, as well as the development of its regulatory framework that balances innovation and risk management, while integrating trailblazing technologies such as #web3 into traditional finance.

Against the backdrop of Vietnam’s rapidly growing digital economy and Da Nang’s aspiration to become a vibrant financial innovation hub, the exchange offered valuable insights and practical reference points.

We look forward to continuing the dialogue, supporting the growth of emerging IFCs, and working together to foster sustainable development and shared prosperity across Asia.

On the evening of the Frankfurt EURO FINANCE Summit 2026—which featured an outstanding lineup of speakers—FMF had the honor of delivering the welcome speech at the dinner. The day’s program focused on subjecting Germany’s “equity story” to a candid, practical assessment. Twelve months after the new federal government took office, one question loomed large: Is the investment and economic turnaround finally becoming a reality?

That evening, Andreas Glänzel deliberately cast his gaze a bit further back—to the Brexit referendum 10 years ago and the momentum that resulted for Frankfurt. This was not by chance, but rather due to stability, reliability, and the ability to consistently capitalize on opportunities.

During this time, Frankfurt has further sharpened its profile as an internationally significant and leading financial center within the EU: a greater presence of global institutions, more jobs, more substance—and, above all, an impact that extends beyond the financial sector. After all, growth in the financial center always means growth in the surrounding area as well.

At the summit itself, it became clear: The “equity story” for Germany is here—now it’s time to deliver. With a faster pace of implementation, clear priorities, and the courage to make long-term decisions.

Thank you to Meike Katharina Buchholz and Andreas G. Scholz of dfv Euro Finance Group GmbH for once again doing an outstanding job organizing this flagship event in Frankfurt’s financial center, and to all participants for the open exchange of ideas.

An evening that demonstrated: We’re heading in the right direction; now it’s about keeping the momentum going.

© Marc Conzelmann / dfv Euro Finance Group

Yesterday, we had the absolute pleasure of hosting the official launch of our newest report at the Future Finance Poland office - "Digital Assets, Real Economy. The Potential of Tokenization of Financial Instruments in Poland and Implementation Recommendations"! 🚀

This report is the key milestone of our Digital Assets specialization, developed in close collaboration with our substantive partner, Accenture Poland.

What will you find inside? The publication provides a comprehensive, 360-degree view on the tokenization of financial instruments in Poland. We dive deep into:

✅ The underlying technology and infrastructure.

✅ Emerging, scalable business models.

✅ Current legal and regulatory barriers.

✅ Concrete implementation recommendations directed at public administration to help accelerate digital transformation in our market.

This extensive work would not have been possible without the immense dedication, knowledge, and collaborative spirit of our market experts. A massive thank you to our co-authors and panelists of yesterday's event:

Accenture: Adam Wdowczyk,

Bank Pekao S.A.: Mirek Kalisiak, Antonina Karwasińska

Bird & Bird: Piotr Lesinski, Rafał Włoczka

Warsaw Stock Exchange (GPW): Hubert Łukasiewicz, Marcin Opoka, Beata Tylman-Nowakowska

Grupa KDPW: Michał Krystkiewicz, Dorota Mackiewicz, Rafał Wawrzyniak

PKO Bank Polski: Konrad Pastwa, Piotr Podolski, Karol Radecki, Kinga Rudnik-Kot, Mateusz Zaród, Mariusz Ziemba.

We also want to extend a special thank you to Daria Ringwelska (Polish Financial Supervision Authority) and Piotr Rutkowski (Ministerstwo Cyfryzacji) for joining our premiere event and sharing their invaluable regulatory and public sector insights during the panel discussion! 👏

📥 Download and read the full report here:

https://lnkd.in/eSvxggRA

Pawel Widawskił, Piotr Brewiński, Zuzanna Krauzowicz, Anna Bogucka, Paweł Bułgaryn, Katarzyna Multan

We wish our National Soccer Team, which will represent our country in the 2026 World Cup wearing their "Crescent and Star" jerseys, the best of luck.

We’re delighted to share that Greening Jersey's Egypte Woods restoration project with Jersey Trees for Life, ‘Egypte Evolution’, has been shortlisted for the People’s Choice Award in the Intact Insurance Conservation Awards 2026.

Greening Jersey is a finance industry-led initiative to rewild and restore Jersey’s natural environment, supporting biodiversity, climate resilience and long-term environmental recovery for our Island.

This recognition is a fantastic reflection of the collaborative work taking place.

The People’s Choice Award is decided by public vote, with the winning project receiving £500 to support its work. Voting is now open. You can watch a short video about ‘Egypte Evolution’, alongside videos on the other inspiring shortlisted conservation projects, before casting your vote.

Vote here: https://lnkd.in/ed-ibyrd

A huge well done to everyone involved in bringing this important project to life.

Once again, a very international "24 hours" in Luxembourg with 12 countries and one big question: what's next for finance?

Thanks to Ben Lyon, Luciele Milani, and Roger H. Hartmann, ESG Advisor, Luxembourg - and the House of Finance - was the meeting point for banking leaders from Albania 🇦🇱 , Armenia 🇦🇲 , Azerbaijan 🇦🇿 , Bulgaria 🇧🇬 , Cabo Verde, Ethiopia 🇪🇹, Kosovo 🇽🇰 , Latvia 🇱🇻 , Moldova 🇲🇩 , Mongolia 🇲🇳 , Rwanda 🇷🇼 and Ukraine 🇺🇦 — all here for the ATTF Executive Programme "Shaping the Future of Your Bank" .

From CEOs to Chief Risk Officers, board chairs to heads of cybersecurity — the perspectives in the room are as diverse as the flags. And that's exactly the point: the future of banking won't be shaped in isolation.

It was also a pleasure to meet again this morning with Pierre OBERLE the leadership of Kigali International Financial Centre, Hortense Mudenge and Jean-Marie Kananura.

As always, Luxembourg, is happy and proud to be the host. 🇱🇺

Ararat Ghukasyan Rasul Mansimli Dimitar Dilov Ana Goga

Elton Xhafaj, CIA Inese Zīle Evghenia Cosor KHAIDAR Zorig Tony-Francis NTORE Olena Kuzmina Orest Korenovskyy Rostyslav Synyshyn Yacine Diallo Luxembourg for Finance

🌳 Luxembourg is strengthening its position as a global climate finance hub.

The major announcement of the first edition of the International Climate Finance Days in Luxembourg concerned the Tropical Forest Forever Facility - TFFF, an international mechanism designed to protect tropical forests through long-term financing. The initiative, supported in particular by Brazil and Norway, aims to mobilize up to $125 billion to make tropical forest conservation economically viable. The Grand Duchy will host the TFFF's financial arm, the Tropical Forest Investment Fund, and invest €50 million through its Climate and Energy Fund. In the presence of Ministers Gilles Roth and Serge Wilmes, Brazilian Foreign Minister Mauro Vieira confirmed that the transition committee had accepted Luxembourg's offer to host the institution.

The announcement underscores Luxembourg's ambition to mobilize international capital for climate action and biodiversity protection, while reinforcing its role as a center for sustainable finance innovation.

It the inaugural MNL AFRICA LEADERSHIP CIRCLE today, our CEO, Daniel Mainda, shared a compelling perspective on Kenya’s role in shaping Africa’s economic future.

As global capital searches for growth, Africa is no longer a story of potential. It is a proposition. We are working to position Nairobi as the gateway where global capital meets African opportunity.

𝗢𝘂𝗿 𝗮𝗺𝗯𝗶𝘁𝗶𝗼𝗻 𝗶𝘀 𝘀𝘁𝗿𝗮𝗶𝗴𝗵𝘁𝗳𝗼𝗿𝘄𝗮𝗿𝗱 𝗮𝗻𝗱 𝘂𝗻𝗮𝗽𝗼𝗹𝗼𝗴𝗲𝘁𝗶𝗰. 𝗪𝗲 𝘄𝗮𝗻𝘁 𝗡𝗮𝗶𝗿𝗼𝗯𝗶 𝘁𝗼 𝗯𝗲𝗰𝗼𝗺𝗲 𝘁𝗵𝗲 𝗽𝗹𝗮𝗰𝗲 𝘄𝗵𝗲𝗿𝗲 𝗔𝗳𝗿𝗶𝗰𝗮 𝗼𝗿𝗴𝗮𝗻𝗶𝘀𝗲𝘀 𝗶𝘁𝘀 𝗰𝗮𝗽𝗶𝘁𝗮𝗹.

If London became a platform for Europe, Singapore for Asia, and Dubai for the Middle East, there is absolutely no reason Nairobi cannot emerge as the preferred platform through which global investors engage Africa.

Kenya intends to lead this race by not shouting the loudest, but by quietly, deliberately, and consistently building systems that make investment inevitable.

Future generations will remember those who had the courage to finance Africa, structure it, and build it. Kenya intends to be among those builders. Build with us.

Thank you Evelyne Mbula Nzuki, LL.M, MCIArb and the MN Legal team for convening such a timely and impactful conversation.

We are pleased to see our Chief Marketing & Corporate Communications Officer, Yousef Fakhroo, recognized among Forbes Middle East’s Most Influential CMOs 2026. 👏

This recognition reflects his leadership and the continued efforts to strengthen QFC’s brand and position Qatar as a leading business and financial center. Congratulations, Yousef, on this well-deserved achievement!

In his latest blog, our CEO Miles Celic OBE, gives an insight into some of the recent successes we’ve delivered on behalf of our members and the industry, our international engagement and looks ahead to our forthcoming Annual Conference, where we have some great speakers.

Read his blog to find out more: https://lnkd.in/ea8SjXSS

We wish to formally notify our investors, institutional partners, and stakeholders of a revision to the TRIFIC Green USD I-REIT offer schedule:

Allotment Communication: Updated from 16th June to 17th June 2026

Settlement of Offer: Updated from 18th June to 22nd June 2026

Every milestone in this process is approached with rigorous attention to detail and an unwavering commitment to our investors' best interests. These revised dates reflect our dedication to executing this listing at the highest standard, one that is rightfully expected.

We are grateful for the trust placed in us and look forward to delivering value that speaks for itself. For further information, kindly refer to the prospectus here: https://lnkd.in/d8mb63rF