Financial Center News #160

I have just returned from an excellent Point Zero Forum in Zurich, with many discussions about Agentic AI, AI governance, and the future of payments. On the CBDC side, the Digital Euro has taken a big step toward a 2029 launch. A number of central banks were discussing with the industry how to revolutionize wholesale cross-border payments, building on the BIS-initiated Agorá project. At the same time, the largest issuers of Stablecoins were discussing alternatives. All have their arguments, and I believe we will see a number of competing payment networks, including the traditional correspondent banking system with all its disadvantages. More work is needed on the compliance side, with increasing challenges in efficiently and effectively fulfilling AML, CFT, and sanctions requirements. All new payment networks should build on compliance-by-design.

Finally, I am glad that our World Alliance members, Casablanca Finance City and Istanbul Financial Center, have signed a Memorandum of Understanding and will work closely together and launch joint initiatives. Congratulations!

We are pleased to see our members, Casablanca Finance City and Istanbul Financial Center, sign a Memorandum of Understanding aimed at enhancing financial connectivity, regional trade, and economic cooperation across international markets. 🌍

🤝This agreement reflects the growing importance of regional integration, institutional collaboration, and stronger financial networks connecting North Africa, Europe, and the Middle East. 📈

Through this partnership, Casablanca Finance City and the Istanbul Financial Center will explore opportunities for cooperation in investor engagement, knowledge sharing, international financial center management, and joint initiatives designed to support sustainable capital flows and strengthen connections between regional and global financial ecosystems. 💡

Congratulations to our members for this important step forward in promoting collaboration, growth, and sustainable development across regions. 👏

🎙️When the United Nations established the Future of Development Cooperation Coalition (FDCC) at #UN #Finance for #Development #Conference in Seville last year, it was expected to lead to a defence of Official Development Assistance (ODA).

Its first interim report, published on 20 May 2026, expressed the opposite: FDCC called for #ODA to be replaced by #investment, #trade and #domestic #resource #mobilisation. 🗣️What's next for #multilateralism and which mechanisms can we identify to help fill the gap? 🤝A first-of-its-kind assembly, bringing together a #community of #experts from each category of stakeholders, to (re)think our roles to build capacity and address the needs of a world where #aid is drying up.” Our Head of Member Relations, Akshu S Campbell-Holt, will address at this Forum that will convene business leaders, policymakers, entrepreneurs and innovators for a dynamic day of insight, discussion, and high-value networking at Westminster College, Cambridge, UK. 📲Register to attend: 3 July 2026 & join us in Cambridge, UK: https://lnkd.in/dUZG4b3Z

Cambridge Sustainability Policy Lab Ioana Belu

✅Our members:

ADGM AIFC (Astana International Financial Centre) Bahamas Financial Services Board Busan Finance Center Casablanca Finance City DIFC EnterpriseNGR FinanceMalta Financial Services Authority Frankfurt Main Finance Future Finance Poland Financial Services Development Council Istanbul Financial Center Jersey Finance Luxembourg for Finance NIFC Africa Kigali International Financial Centre Stuttgart Financial Economic Development Board Mauritius Qatar Financial Centre (QFC) Authority TheCityUK TRIFIC SEZ

🎙️The recent Tashkent International Investment Forum (TIIF) convening global leaders, international experts and financial centre leaders was a true reflection of the increasing international interest in Uzbekistan and the region.

🤝At a business breakfast held alongside TIIF organised by BeOne and supported by the Ministry of Investment, Industry and Trade of Uzbekistan, our Head of Member Relations, Akshu S Campbell-Holt, shared a global view and perspectives on what it takes to build a globally competitive international financial centre.

A key takeaway was that building new IFCs are incredibly complex. Success is not just about regulation or infrastructure but it's about integrating an entire national ecosystem around a clear purpose. Therefore, understanding and removing friction points for investors, businesses and talent is critical to improving the business environment and investment climate.

The World Alliance of International Financial Centers (WAIFC) provides a valuable platform through which emerging and established financial centres can learn from each other, avoid common pitfalls, and accelerate development.

The World Alliance of International Financial Centers (WAIFC) congratulates BeOne for creating such a platform that brings together policymakers, investors, entrepreneurs and market participants to channel feedback that can help shape the future of the Tashkent International Financial Centre.

📘⏳ "Crafting the Future of Digital Sustainability Reporting Ecosystems" by the World Alliance of International Financial Centers (WAIFC).

As sustainability reporting requirements continue to expand worldwide, one challenge remains clear: data fragmentation.

How can financial centers help build a more transparent, interoperable, and trusted sustainability reporting ecosystem?

The World Alliance of International Financial Centers (WAIFC), in collaboration with the Capitals Coalition's Digital Sustainability Disclosure (DSD) Project, has published its white paper:

"Crafting the Future of Digital Sustainability Reporting Ecosystems".

The report presents a bold "North Star" vision where financial, sustainability, carbon, and climate-related data flow seamlessly through digital reporting frameworks and open data exchange standards.

Key insights include: 🌍 Sustainability data remains fragmented, limiting transparency, comparability, and decision-making across markets. 🔗 Open data exchange standards and digital reporting infrastructure are essential to ensure interoperability, trust, and accessibility of sustainability information. 📊 Financial centers can play a leading role in accelerating sustainable finance through public-private collaboration, digital innovation, and data standardization. 🤝 Strong cooperation among regulators, policymakers, investors, corporations, standards bodies, and technology providers will be critical to creating a unified sustainability reporting ecosystem. 🚀 Digital sustainability reporting has the potential to improve transparency, reduce reporting friction, enhance investment decisions, and support the global transition toward a more sustainable economy. As sustainability disclosures become increasingly important for capital allocation and risk management, building trusted digital ecosystems will be essential for the future of sustainable finance.

👏 A special thank you to the authors and contributors who helped shape this important publication: Tanuj Agarwal, Catherine Atkin, Sakshi Bansal, David Blaszkowsky, Charles Calovich, Eric E. Cohen, Louisa Durkin, Helle Bank Jorgensen, Urmish Mehta, Caitlin Nash, Padmanabhan Anand, Andon Rumenov, and Liv Watson Special thanks as well to Jochen Biedermann, Managing Director of the World Alliance of International Financial Centers (WAIFC), and Abdul-Rahim Osman, Head of Communications and Senior Project Manager Sustainable Finance at the World Alliance of International Financial Centers (WAIFC), for their valuable insights and contributions.

Their collective expertise is helping advance the future of digital sustainability reporting and sustainable finance globally.

📲 Read the full report: https://lnkd.in/e3M898rg

#WAIFC #SustainableFinance #ESG

📚 New insights from the World Alliance network. Two members of the World Alliance of International Financial Centers (WAIFC) have recently published reports exploring the future of digital assets, tokenization, artificial intelligence, and the transformation of global banking.

🇵🇱 Future Finance Poland has released its report: "Digital Assets, Real Economy: The Potential of Financial Instrument Tokenization in Poland and Implementation Recommendations." The report examines how tokenization, stablecoins, and distributed ledger technologies are becoming a structural component of modern financial infrastructure and how Poland can position itself as a leading European hub for digital finance.

Key insights include: 🔹 Digital assets are no longer a technological experiment but an increasingly integral part of global financial infrastructure. 🔹 Tokenization of bonds, real estate, commodities, and other assets can improve transparency, efficiency, programmability, and access to liquidity. 🔹 European regulatory frameworks such as MiCA and the DLT Pilot Regime provide a foundation for the safe integration of digital assets into traditional financial markets. 🔹 Financial institutions that develop expertise and infrastructure early will gain a significant competitive advantage in shaping the future of finance. The report highlights how tokenization could redefine capital markets and create new opportunities for both investors and financial centers.

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

🇦🇪 Meanwhile, the DIFC has published: "The Changing Face of Banking: Building Resilience Through Change." The report explores how artificial intelligence, digital-native challenger banks, and emerging technologies are reshaping the banking industry worldwide.

Key insights include: 🤖 AI is rapidly becoming core banking infrastructure, driving productivity, efficiency, and operational resilience. 🏦 Digital-native challenger banks are setting new standards for speed, personalization, customer experience, and cost efficiency. 🌍 Emerging markets are expected to drive long-term growth in lending, payments, wealth management, and financial services. 💳 Stablecoins, tokenization, and digital assets are creating new opportunities in payments, treasury management, and capital markets.

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

Both reports underline a common theme: the future of finance will be shaped by institutions capable of combining innovation, technological transformation, regulatory credibility, and long-term strategic vision.

#WAIFC #Finance #DigitalAssets #Tokenization #ArtificialIntelligence #AI #Banking #FinancialServices #Innovation #FinTech #FutureFinance #DIFC

Recently, Mizuho was honored to support the Abu Dhabi Investment Forum (ADIF) in Shanghai, convening senior leaders from Abu Dhabi’s economic ecosystem and China’s leading investors, corporates, and financial institutions to explore new investment and long-term partnership opportunities.

A meeting between CEO of the ADGM Registration Authority H.E. Rashed Abdulkarim Al Blooshi, and President of Mizuho Bank China Kenya Yoshiura further emphasized the increasing strategic importance of the UAE–China corridor and the shared ambition to deepen commercial and financial connectivity between the two markets.

As one of the global financial institutions with strong roots in both Asia and the Gulf, Mizuho remains committed to serving as a strategic bridge for capital, investment, and knowledge flows, supporting the next phase of growth in this key economic corridor.

🇰🇿 🇺🇿 A delegation from the Administration of the President of Uzbekistan, led by Head of the Administration Saida Mirziyoyeva, visited the Astana International Financial Centre to learn about its experience in establishing and developing an international financial centre.

The visit focused on the AIFC’s institutional framework, legal system and regulatory model, as well as its approaches to investment attraction, capital market development and international project support.

The delegation also met with representatives of the AIFC Court and International Arbitration Centre, and the Astana Financial Services Authority (AFSA), gaining insights into the Centre’s regulatory ecosystem and investor support infrastructure.

This marks the second visit by representatives of the Administration of the President of Uzbekistan to the AIFC in 2026. The practical experience of the AIFC is being studied as part of the development of the Tashkent International Financial Centre.

Cooperation between the AIFC and Uzbekistan continues to expand across Islamic finance, green and sustainable finance, capital markets and analytical research.

One recent example is a joint study prepared by AIFC Insights and Uzbekistan’s Institute for Advanced International Studies, which explores the investment potential of Central Asia and opportunities for a more coordinated regional investment approach.

With a population of more than 80 million people, a combined GDP exceeding USD 500 billion and an accumulated inward FDI stock of USD 220.5 billion, Central Asia is increasingly emerging as an integrated investment destination with significant long-term growth potential.

The visit highlights the growing importance of institutional knowledge-sharing and regional cooperation in building a more competitive, connected and investment-ready financial ecosystem across Central Asia.

The Bahamas Essentials 🇧🇸

In an era of shifting generational values and increasing global complexity, building a lasting legacy requires far more than financial preservation, it demands intentional construction.

As explored in the recent Global Wealth Journal article, "Constructing a Legacy: Not What You Leave Behind, But What You Build," true legacy is not a matter of inheritance but a matter of purpose, governance, and vision passed deliberately from one generation to the next.

The piece highlights the evolving role of the modern family office and The Bahamas' unique position within it, as a platform not simply for managing capital, but for building legacy in real time. Through co-designed investment policies, intergenerational vision forums, and collaborative governance frameworks, family offices here are creating the structured environments where tradition and innovation meet.

As Nia Rolle-Campbell states in the article: "Dynamic family governance allows succession to unfold through ongoing communication and collaborative planning."

By positioning The Bahamas as a jurisdiction where family offices serve as true architects of continuity, we affirm our commitment to delivering clarity, conviction, and purposeful wealth stewardship for generations to come.

Explore more by reading the full article in the Bahamas Global Wealth Journal: https://lnkd.in/erS_FPpg

Busan Finance Center featured in the latest #Asia edition of Forbes

As #Busan continues to strengthen its position as a leading international financial center in Northeast Asia, this placement provides an opportunity to introduce Busan's growing financial ecosystem to a global audience of investors, financial institutions, policymakers, and business leaders.

We are committed to expanding Busan's global presence and fostering meaningful #partnerships that connect Korea with the world.

Casablanca Finance City hosted a strategic working session in Rabat, bringing together Morocco’s key public authorities, regulators, and strategic public operators.

This meeting marked an important moment of renewed engagement with national institutions, providing a platform for CFC to present its progress, strategic achievements, and future priorities.

The discussions were highly constructive and focused on sharing perspectives, strengthening coordination, and deepening the dialogue between CFC and its institutional partners.

As Africa’s leading financial hub, bringing together an ecosystem of nearly 300 member companies, CFC continues to rely on strong institutional partnerships to consolidate its regional and global momentum.

We would like to warmly thank all institutional partners and regulators for their active participation and for the quality of exchanges, reflecting a shared commitment to further strengthening Morocco’s positioning as a leading financial and economic hub.

Specializing in executive search and leadership advisory, MAP Global Executive Search is now part of DIFC's international business community.

The firm's presence in #DIFC reflects its commitment to serving organizations seeking senior leadership talent across the UAE and wider region.

🆕The Business Obstacles Alert Mechanism (BOAM) is live!

This new online platform enables businesses to flag operational hurdles directly to the EDB, allowing us to coordinate with the relevant public agencies to facilitate their resolution.

BOAM also provides businesses with greater visibility into the status and follow-up of the issues they have raised, ensuring a more transparent and efficient business facilitation process for both investment projects and ongoing business operations.

🌐Learn more on our website – https://lnkd.in/d4tUS8KU

FinanceMalta was pleased to join WH Partners in Ta' Xbiex for an information session on Malta's family office proposition, with investors, family offices and their advisors.

FinanceMalta's Bernice Buttigieg was invited to present Malta's financial centre and contribute to discussions on tax, immigration, regulatory and private wealth considerations.

Thank you to WH Partners for the invitation and to all participants for the engaging discussion.

‏Today marked the start of the program for participants in the “Promising Investor” initiative, organized by the Financial Services Authority in collaboration with the University of Technology and Applied Sciences—Muscat Branch, with students from various governorates of the Sultanate of Oman taking part.

The first day saw enthusiastic engagement from the students through activities and introductory sessions designed to foster financial literacy and enhance money management, savings, and investment skills in a practical and enjoyable way.

✨ A promising start to an educational journey that will help build a generation that is financially literate and capable of making informed financial decisions.

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Shanghai's rise is not Hong Kong's fall. That mentality belongs to a roughly fifteenyearold narrative that never materialized and is even less true today.

Fielding and I just came out of backtoback sessions in Shanghai -- Pudong Development Bank, the New Development Bank, the incubation hub at Fudan University, and a closeddoor forum where public- and private-sector leaders joined to map out crossborder collaboration in digital finance. The reality on the ground is that, for an economy of China's scale, one financial center cannot carry the real economy alone. Not the case in the past and especially not when firms are pushing into overseas markets and uncharted territories.

Project financing, direct investment, crosscurrency hedging: these demand deep liquidity, operational resilience, and systems that both local and global players already trust. That is exactly why Chinese financial institutions are expanding their Hong Kong teams, not pulling back. They are not picking one over the other. They are building a dualengine model: for instance, Shanghai for onshore RMB liquidity ready for offshore opportunities, and Hong Kong as the commonlaw gateway for legitimate offshore international capital seeking financial market opportunities and more.

The rise of one is not the fall of the other. It is the maturation of a vast economy that requires multiple portals to accommodate its complexity.

If you are watching these markets and would like to chat offline, my teammates and I would love to connect and exchange views with you.

How a referendum redrew the map of European capital markets

To the very day ten years ago, on 23 June 2016, the Bexit referendum did more than reshape politics. It fundamentally redrew the map of European capital markets, triggering a significant shift of financial activity from the City of London to leading EU financial centres. For Frankfurt am Main, this was not a moment of surprise, but of preparation.

One year before the referendum I asked representatives of the UK government how they were preparing for the vote. The answer reflected confidence: business leaders, we were told, would make the economic case for “Remain” and ensure a rational outcome. But the notable absence of key industry voices alerted us that the result was far from certain. From that moment, preparation in Frankfurt accelerated.

As the referendum results unfolded, uncertainty gave way to urgency. While Europe’s political capitals were still absorbing the shock, Frankfurt Main Finance was already operational. By 5:30 a.m. after the vote, the first call came from the Wall Street Journal. Numerous global broadcasters followed in rapid succession. At 7am we launched the “Welcome to Frankfurt” campaign, that went viral, positioning Frankfurt as the leading EU financial centre in a changing landscape.

Our message was simple: Brexit is a setback for Europe and foremost for the UK, but also a structural inflection point for financial markets. Those prepared would help shape what comes next. What followed was an unprecedented global media cycle: over 2,000 interviews more than 5,000 media reports in 92 countries and a worldwide reach of 9 billion. The central question remained consistent: where to will European finance relocate?

Over time, the answer became visible in the data. Since 2016, more than 60 international banks have applied for new or expanded licences with the German regulator BaFin. Around 15,000 financial sector jobs have been created in the Frankfurt/Rhine-Main region. More than €1,3 trillion in banking assets have been relocated from London to Frankfurt. The share of foreign banks in the German banking system has almost doubled. Just as importantly, Frankfurt’s international positioning as the EU’s leading financial centre has strengthened significantly. At the same time, competition within Europe has intensified. Frankfurt remains ahead, but the race continues.

A decade on, Brexit is best understood not as a single event, but as a catalyst that reshaped capital flows, talent, and attention across Europe. It reinforced a simple truth: financial centres are defined not only by regulation and infrastructure, but by speed, credibility, and decisive action in moments of uncertainty.

This week, that dialogue continues in Frankfurt as we welcome Dame Susan Langley, Lady Mayor of the City of London, for a roundtable discussion.

The Istanbul Financial Center and the Casablanca Finance City signed a Memorandum of Understanding aimed at strengthening financial connectivity, regional trade, and economic engagement across regional and international markets.

The agreement reflects the growing importance of regional economic integration, institutional collaboration, and financial network development across North Africa, Europe, and the Middle East.

Within this framework, IFC and Casablanca Finance City will explore cooperation in investor engagement, knowledge sharing, international financial center management, and joint development initiatives designed to support sustainable capital flows and enhance interaction between regional and international financial ecosystems.

The Istanbul Financial Center continues to contribute to Türkiye’s long-term vision through an integrated financial ecosystem supporting international investment, global trade, and strategic connectivity across multiple markets.

Greening Jersey continues to take root across the Island.

Now in its second year, the finance industry-led initiative has continued to build momentum, supporting practical environmental restoration through collective funding, volunteer participation and long-term partnerships with local environmental charities.

Since January, Greening Jersey has delivered nine volunteer events across Egypte, La Vallette, La Moye and new 2026 site, Le Don Batho-Hotton.

Together, these events have supported 247 volunteers, delivered 480 completed volunteering hours and seen 466 trees planted.

The latest update also looks at:

🍎 the creation of a new community orchard at Le Don Batho-Hotton

🪏 the expansion of the La Vallette site

🐸 plans to restore the pond at Plémont

📊 Greening Jersey’s 2025 impact report and financial statement

📈 growth in participating firms, now at 48

Read the full article: https://jsy.fi/3SGgHV7

#GreeningJersey #JerseyFinance #SustainableFinance Tom McKenna

Kigali International Financial Centre (KIFC), the Chandler Institute of Justice, and the Chartered Institute of Arbitrators (Ciarb) have formalized a partnership focused on enhancing legal and financial sector capabilities in Rwanda.

The collaboration covers training programs for legal practitioners, financial sector professionals, and regulatory bodies. It also supports the development and delivery of programs in alternative dispute resolution, arbitration, and mediation, with a focus on commercial and financial disputes.

The Memorandum of Understanding was signed on 22 June during the official opening of a four-day training program aimed at strengthening Rwanda’s legal expertise in support of financial services, investment, and dispute resolution

Happy National Day, Luxembourg! 🇱🇺

Today we celebrate a country built on openness, trust and international cooperation.

These values continue to shape Luxembourg’s role as a leading financial center, connecting people, markets, and opportunities across borders.

QFC firm Golden Gate Ventures has announced the launch of its new office in Uzbekistan, expanding its presence into Central Asia through a partnership with the Uzbek-Oman Investment Company (UzOman). 🇺🇿

The expansion reflects growing opportunities for venture capital and innovation across the region, while creating new pathways for technology companies to scale internationally. As part of the announcement, Golden Gate Ventures’ Uzbekistan office secured participation from UzOman as an institutional limited partner, supporting the firm’s efforts to back promising technology companies across Central Asia.

We look forward to supporting Golden Gate Ventures as it continues to grow its regional footprint from Qatar and contribute to the development of innovation ecosystems across emerging markets. 🤝

🗓️ Reminder: The 16th Stuttgart Insurance Day, organized by the IHK Region Stuttgart, will take place on June 29, 2026.

Demographic change and digital transformation are fundamentally reshaping the insurance industry. While they present companies with significant challenges, they also open up new strategic and operational opportunities.

Experts will discuss how insurance companies can actively shape this transformation and use it to their advantage.

The event will be moderated by Dr. Philipp Veit of Stuttgart Financial.

All information about the agenda and free tickets is available here:

https://lnkd.in/d4suaKBq

Jürgen Leinwand Berufsbildungswerk der Versicherungswirtschaft (BWV) Südwest e.V. Bundesverband Deutscher Versicherungskaufleute e. V. (BVK) Bundesverband Deutscher Versicherungsmakler e.V. (BDVM)

VGA - Bundesverband der Assekuranzführungskräfte e.V.

Closing out our activities at London Climate Action Week with our panel discussion at #ResetConnect, Financing Resilience, Driving Growth, in partnership with KPMG UK.

With opening remarks from our CEO, Miles Celic OBE, the session focused on the growing importance of resilience in sustainable finance – and how risk, insurance and capital are coming together to turn resilience challenges into investable opportunities that support long-term growth.

Expertly moderated by Richard Andrews, the panel brought together Marco Serena, Lénaïg Trenaux, Dr Tony Rooke and Nina Reid to spotlight practical solutions and industry success stories from across the industry that are mobilising capital, strengthening resilience and driving real-world impact.

Mwau Brian, Head of Business Development at Centum/TRIFIC SEZ, is on the main stage!

He is breaking down "Special Economic Zones and What They Mean for Small Business."

AFRIBIT KIBERA Trezor Gorilla Sats Talo Africa CIO Africa by dx5 Bitika Tando Capital FM Kenya