Financial Center News #161

This week, my newsletter goes out slightly later, as I just returned from traveling. Next week, I will be in Da Nang, giving a keynote and moderating a panel at the Vietnam Financial Forum (VFF). Therefore, I have to skip next week’s newsletter, but I promise to make up for it in the following week. If you happen to be in Da Nang or Ho Chi Minh City next week, please contact me or join my VFF presentation.

Finally, I want to congratulate our member, the Casablanca Finance City, for signing an MoU with the Capacity-building Alliance of Sustainable Investment (CASI) to accelerate sustainable finance in Africa!

🌍🤝 The World Alliance of International Financial Centers (WAIFC) continues to expand its global engagement by contributing to major international forums, supporting the development of emerging financial centers, and fostering cooperation across the global financial ecosystem. 🌐

👏 Recent highlights include:

🇺🇿 Supporting the development of the Tashkent International Financial Center (TIFC) at the Tashkent International Investment Forum by sharing global best practices for building competitive financial ecosystems.

🤖 Joining the World AI Show Indonesia & Finance 2045 as an Ecosystem Partner to advance discussions on AI, digital transformation, and the future of financial services.

🇻🇳 Our Managing Director, Jochen Biedermann, will also speak at the Vietnam Financial Forum (VFF) 2026, contributing to high-level discussions on the future of global finance.

As a global network of leading international financial centers, we remain committed to promoting knowledge sharing, innovation, sustainable finance, and meaningful international partnerships.

📲

🚀 Our June 2026 WAIFC Newsletter is out!

🎙️ This edition features an exclusive interview with Euna Kim, who shares why Busan Finance Center is emerging as a leading maritime and digital finance hub and gives our community a preview of what to expect at the World Alliance Annual General Meeting 2026 in Busan this September.

You'll also find: 🔹 Our latest World Alliance updates, including our participation in the Tashkent International Investment Forum, the World AI Show Indonesia & Finance 2045, and the upcoming Vietnam Financial Forum 2026.

🔹 News from our members, including: 🔹 TheCityUK strengthened transatlantic financial cooperation through a high-level mission to Washington D.C. and New York, focusing on digital assets, market integration, and UK–US financial collaboration. 🔹 ADGM welcomed Blue Owl Capital, which selected ADGM as the location of its regional headquarters, reinforcing Abu Dhabi's position as a global investment hub. 🔹 AIFC (Astana International Financial Centre) and China International Capital Corporation (CICC) expanded investment cooperation between Kazakhstan and China through an Investors Day connecting international capital markets. 🔹 Luxembourg for Finance deepened financial ties with Switzerland through bilateral dialogues, networking events, and cooperation on digital assets and sustainable finance. 🔹 Istanbul Financial Center hosted the 3rd Global Islamic Economy Summit, bringing together policymakers and financial leaders to advance ethical finance and sustainable development. 🔹 Jersey Finance gathered global private wealth leaders in Hong Kong to discuss geopolitical shifts, alternative investments, and the future of international wealth management. 🔹 Future Finance Poland welcomed Europejski Fundusz Leasingowy S.A. as a new observer, strengthening collaboration to drive innovation across Poland's financial ecosystem.

📲 Read the full newsletter: https://lnkd.in/ekmgfawN

#WAIFC #FinancialCenters #GlobalFinance #Busan #MaritimeFinance #DigitalFinance #InternationalCooperation #Finance #Innovation

Each month, LINK brings the ADGM community together for an evening dedicated to meaningful conversations that help drive business forward across the district.

Last night’s edition, hosted at Isabel Mayfair on Al Maryah Island in partnership with Numou. We welcomed professionals from across our ecosystem for yet another opportunity to connect beyond the workplace and strengthen the community that continues to shape Abu Dhabi’s financial center.

We look forward to welcoming you to the next edition!

Looking for a clear investment pathway for your international clients?

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The program provides foreign investors with access to investment opportunities within the AIFC, long-term residency solutions in Kazakhstan, and obtaining tax residency under simplified conditions, as well as relocation support through the AIFC Expat Centre.

Applications are submitted through the Program’s Authorized Agents.

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Amidst global recalibration, how can jurisdictions provide security and stability for cross-border capital?

In her recent Nassau Guardian article, ‘Security in a Recalibrating World’, our CEO and Executive Director, Niekia Horton, explores why geopolitical recalibration is driving renewed focus on trusted international financial centers and what this means for jurisdictions like The Bahamas.

Read the full article: https://lnkd.in/emBZfP-r

Key insights include:

▪️ Geographic diversification is a core risk management strategy during geopolitical turbulence.

▪️ Investors are increasingly prioritizing jurisdictions with regulatory credibility, political stability and constructive international relationships.

▪️ In a world defined by uncertainty, The Bahamas offers something increasingly valuable: confidence, continuity and security.

The article also examines how recent legislative developments - including the DAO Bill, Usufruct Interest Bill and enhancements to CRS frameworks - are reinforcing The Bahamas’ position as a modern, forward-looking jurisdiction for private wealth and international business.

Honored to be speaking at the luncheon meeting during the Vietnam Financial Forum (VFF) 2026, representing Busan and sharing how we're building an internationally connected financial digital ecosystem.

➡️ 𝗜𝗙𝗖𝘀 & 𝗧𝗵𝗲 𝗙𝘂𝘁𝘂𝗿𝗲 𝗼𝗳 𝗧𝗲𝗰𝗵-𝗲𝗻𝗮𝗯𝗹𝗲𝗱 𝗙𝗶𝗻𝗮𝗻𝗰𝗲

🗓️ 𝟵 𝗝𝘂𝗹𝘆 | 𝟭𝟮:𝟰𝟱–𝟭𝟯:𝟰𝟱

👥 Main Speakers Jochen Biedermann Alena Dolgova

Looking forward to exchanging ideas, meeting new partners, and learning how different financial centers are navigating the same challenges from different perspectives.

Thank you Alena Dolgova Ly Nguyen World Alliance of International Financial Centers (WAIFC) and Vietnam Financial Forum (VFF) for the kind invitation.

Said Ibrahimi, CEO of Casablanca Finance City Authority, alongside Dr. Ma Jun Chairman of the Capacity-building Alliance of Sustainable Investment (CASI), have signed a Memorandum of Understanding (MoU) establishing a strategic framework to accelerate green finance across the continent.

This partnership centers on developing specialized training programs, launching professional certification pathways, and deploying digital learning solutions. It will also drive advanced joint research, foster expert mobility, and facilitate the exchange of best practices across African, Chinese, and international ecosystems.

Ultimately, this collaboration aims to build a more resilient sustainable finance ecosystem in Africa by strengthening professional skills and institutional capacities. This initiative is fully aligned with the vision of the future Africa Finance & Sustainability Institute (AFSI), a landmark project led by Casablanca Finance City Authority.

A warm thank you to the CASI and CFCA teams for their commitment and collaboration to conclude this partnership. (Dr. Ma Jun Chairman of the Capacity-building Alliance of Sustainable Investment (CASI), Cheng Lin, Head of the CASI Secretariat, Ninghui Zhang, Deputy Head of Secretariat of CASI, Jessica Tsang , Communication Lead de CASI, Aïda KSIKES, Director of Marketing, Communication, Strategy & Partnerships, Hicham Chaoudri, Director of Institutional Affairs, Aziz El Khyari, Business Development Director, and Mourad FATHALLAH, Head of Strategy)

Business is only one part of our story. DIFC is a place where global finance is complemented by culture, hospitality, retail, wellness and a dynamic community, creating an environment where people and businesses can thrive.

The Voices of EnterpriseNGR: Adesuwa Okunbo Rhodes

Transformative leadership is about identifying opportunities where others see barriers. As Founder and Managing Partner of Aruwa Capital Management, Adesuwa Okunbo Rhodes has emerged as a leading voice in private equity, driving inclusive investment and sustainable business growth in Nigeria and across Sub-Saharan Africa.

With experience spanning global financial institutions and private equity, she has built a platform dedicated to supporting high-potential businesses while expanding access to capital for underserved entrepreneurs. Through Aruwa Capital Management, her work reflects innovation, economic empowerment, and long-term value creation, embodying the ambition and forward-thinking leadership that define the EnterpriseNGR community.

Today, we say goodbye to George Micallef, a colleague who left a real mark on our team.

Over his time with us, George represented FinanceMalta at 30+ events across the world, from the US to the Middle East, helping put Malta's financial services sector on the map wherever he went.

But beyond the excellent work, George had a rare gift for lifting the room. He made us laugh, kept spirits up when things got tough, and made this a better place to come to every day. That kind of presence is hard to replace and impossible to forget.

Thank you, George, for everything you gave this team. We're better for having worked alongside you, and we wish you nothing but the best in what comes next.

You'll be missed. 👏

The #FSA has approved the share allocation results for the initial public offering (IPO) of Oman India Fertiliser Company (OMIFCO), following total subscription demand of RO 4.69 billion, representing an overall oversubscription rate of 18 times.

𝗛𝗼𝗻𝗴 𝗞𝗼𝗻𝗴 𝗦𝗲𝗶𝘇𝗶𝗻𝗴 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀 𝗮𝘀 𝗮 𝗚𝗹𝗼𝗯𝗮𝗹 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗛𝘂𝗯

Our Executive Director, Dr Rocky Tung, recently spoke with Radio Television Hong Kong (RTHK) about how Hong Kong, as the world’s leading cross-border wealth management hub, remains well positioned to attract global capital and support investors' diversification needs through its robust financial ecosystem in the second half of 2026.

“Amid global uncertainty, regulatory stability, a strong rule of law, and legal certainty are more important than ever. These enduring strengths set Hong Kong apart and can help attract high-growth companies, including Asian hard-tech firms, to raise capital and pursue listings in the city,” said Dr Tung.

Stay tuned for the next episode. We remain dedicated to articulating Hong Kong’s value proposition with audiences worldwide.

AFME and Frankfurt Main Finance's recent webinar offered a practical overview of the EU’s new Anti Money Laundering framework, the most significant reform of the EU AML and CFT regime in decades.

Our experts Götz Fischer, Andreas Glänzel, Akash Jain, Carsten Lang and Louise Rodger agreed that while the EU AML package represents a significant step forward in harmonizing AML requirements across Europe, institutions must balance centralized standards with local regulatory requirements and data protection constraints while preparing for the July 2027 go-live deadline.

🎦 You can watch the full recording on AFME's YouTube: https://lnkd.in/eyVGtBJ5

We also look forward to exploring many of these themes in more detail at AFME’s European AML Conference on 4 November 2026 in Frankfurt. Register here: https://lnkd.in/ebmiA4DB

Islamic finance offers a distinct approach to financial services by emphasizing asset-backed transactions, ethical investment principles and the real economy.

From Sukuk and Murabaha to Mudaraba, Musharaka, Ijara, Takaful and Waqf, these instruments demonstrate how Islamic finance supports investment, trade, risk management and sustainable development.

At Istanbul Financial Center, we are establishing an international financial ecosystem where conventional and participatory finance operate within a single, globally connected framework.

What a fantastic way to kick off the summer!

Our team enjoyed a memorable summer social aboard the Jersey Duchess, taking in Jersey’s stunning coastline and spending time together away from the office.

The afternoon included a fun game of 'Mingle Bingo', where we discovered some surprising facts about each other by finding colleagues who matched different clues, followed by a delicious BBQ in the sunshine.

It was a brilliant opportunity to connect as a team, celebrate our people and enjoy the relationships that make Jersey Finance such a special place to work. A lovely afternoon full of good food, great conversations and plenty of team spirit. Here's to making more memories together!

🎙️ "𝘙𝘸𝘢𝘯𝘥𝘢 𝘰𝘧𝘧𝘦𝘳𝘴 𝘪𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴 𝘸𝘩𝘢𝘵 𝘮𝘢𝘵𝘵𝘦𝘳𝘴 𝘮𝘰𝘴𝘵: 𝘴𝘵𝘢𝘣𝘪𝘭𝘪𝘵𝘺, 𝘳𝘦𝘨𝘶𝘭𝘢𝘵𝘰𝘳𝘺 𝘤𝘦𝘳𝘵𝘢𝘪𝘯𝘵𝘺, 𝘨𝘰𝘰𝘥 𝘨𝘰𝘷𝘦𝘳𝘯𝘢𝘯𝘤𝘦 𝘢𝘯𝘥 𝘢𝘯 𝘦𝘯𝘷𝘪𝘳𝘰𝘯𝘮𝘦𝘯𝘵 𝘸𝘩𝘦𝘳𝘦 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘤𝘢𝘯 𝘮𝘰𝘷𝘦 𝘲𝘶𝘪𝘤𝘬𝘭𝘺." - Hortense Mudenge, CEO, Kigali International Financial Centre (KIFC)

👉 Listen to the full podcast: https://lnkd.in/esdXxzC9

As African private capital continues to mature, fund managers are increasingly evaluating where best to domicile investment vehicles. Rwanda's KIFC has emerged as one of the continent's most compelling #financial jurisdictions, offering a combination of regulatory certainty, business-friendly policies and strategic regional positioning.

Following the release of our latest research on African private capital, we sat down with Hortense Mudenge, Chief Executive Officer, KIFC, to discuss why #Kigali is gaining momentum as a fund domicile, the role of regional integration, and KIFC's vision for the future.

Europe’s defence ambitions will depend on how they are financed.

A new proposal from Mark Carney and Luc Frieden, Prime Ministers of Canada and Luxembourg, calls for the creation of a Defence, Security and Resilience Bank (DSRB), a multilateral institution designed to mobilise private and public capital for Europe’s defence ecosystem.

By using sovereign-backed guarantees, the DSRB could help unlock financing for defence industries, support SMEs across critical supply chains and help member states meet growing investment needs without adding further pressure on public finances.

For Luxembourg, the initiative also underlines the role financial centres can play in strengthening Europe’s resilience.

🇰🇪 Kenya's Hidden Opportunity: Why VASPs & FinTech Startups Should Look at NIFC Africa

If you're a startup or Virtual Asset Service Provider (VASP) evaluating market entry into Africa, you need to know about the Nairobi International Financial Centre NIFC Africa.

Here's the strategic case:

🎯 TAX EFFICIENCY THAT MATTERS

i) Startups: 15% corporate tax for the first 3 years, 20% for years 4-7 (vs. standard 30%)

ii) 100% profit repatriation — no barriers to moving capital

iii) Zero withholding tax on dividends if you reinvest 250M+ KES locally

iv) Regional offices & holding companies get 15% tax for 10 years

💼 BUSINESS ENVIRONMENT DESIGNED FOR YOU

i) 100% foreign ownership allowed

ii) Protection against nationalization or expropriation

iii) One-stop-shop regulatory support

iv) Streamlined legal & regulatory framework built with all financial sector regulators

🌍 REGIONAL GATEWAY

NIFC is explicitly designed to attract international investment into Kenya and the wider African region.

⚡ WHY NOW?

VASPs and FinTech companies are literally listed as key target sectors.

The Bottom Line: Between predictable tax incentives, a conducive operating environment, and regulatory clarity, NIFC removes the traditional friction of emerging market expansion.

For founders evaluating jurisdictions, this deserves serious consideration.

Daniel Mainda Jean Kambuni Soko Chain Virtual Assets Association of Kenya Virtual Assets Chamber of Commerce

A warm welcome to Franklin Templeton as it expands its Middle East presence with the establishment of Franklin Templeton Investments QFC LLC at the Qatar Financial Centre. 🤝

With more than USD 1.78 trillion in assets under management and a presence spanning over 150 countries, Franklin Templeton’s expansion marks another milestone in Qatar’s continued growth as a destination for leading global financial institutions and reinforces Doha’s position as a regional hub for asset management.

Building on its longstanding partnership with Qatar Investment Authority, the firm’s local presence will further strengthen Qatar’s institutional investment ecosystem by connecting global investment expertise with local opportunities, supporting the continued development of the country’s financial sector and contributing to the ambitions of Qatar National Vision 2030. 🇶🇦

We were pleased to launch the Team UK initiative for international sustainable finance. Bringing together industry, government and development finance partners, it provides a valuable platform to showcase the UK's strengths in areas such as transition finance, carbon markets and climate resilience. We look forward to helping develop the playbook and strengthen the UK's global sustainable finance proposition.

History has been made this morning at the Exchange. The trading bell has officially been rung, marking the formal listing of the TRIFIC Green USD I-REIT on the Main Investment Market Segment of the NSE.

This milestone introduces a historic financial instrument to the region: a green-certified, USD-denominated property vehicle offering fractional access to institutional-grade special economic zone real estate. Our deepest gratitude to the Capital Markets Authority, the Nairobi Securities Exchange PLC leadership, our transaction advisers, and above all, our community of co-owners and investors.

Trading is now officially open.