Financial Center News #21

Interview with the 🥈 #WAIFC Young Academic Award 2023

We are thrilled to announce that Ved Beloskar has clinched the 2️⃣nd place in the prestigious WAIFC Young Academic Award 2023

In a ceremony in New York that brought together the #WAIFC members from around the globe, Ved stood out with her groundbreaking research titled "Socially #Responsible Investments: A Retrospective Review and Future Research Agenda."

Immediately after the award presentation, Ved Beloskar graciously dedicated time for an exclusive interview with us, sharing his insights and the potential impact of his work.

His dedication to exploring innovative ideas for sustainability in finance has earned the recognition of all #WAIFC members and sets a new benchmark for academic excellence.

We are proud to support emerging talents like Ved Beloskar who are not only shaping the future of finance but are also actively contributing to a more sustainable world.

Congratulations, Ved

📲 Read more about his research: https://lnkd.in/efNcdfFD

#WAIFC Newsletter of November 2023 is now available]

🗣️ Content:

1. VOICES: A captivating interview with Myongho Rhee, President of Busan Finance Center & WAIFC Board Member. Dive into his insights on transforming Busan into a key financial hub for Northeast Asia and his vision for the Busan Finance Center.

2. OPINIONS: Hear from Marta Kotlarska the proud recipient of WAIFC's Young Academic Award 2023. Discover her thoughts on blockchain technologies and their impact on carbon markets.

3. NEWS:

- Engagement with Chicago's Financial Leaders: An overview of our recent interactions in Chicago and their significance.

- ‘Women in Finance’ Pledge: An important initiative by WAIFC members for gender equality in finance.

- Highlights from the WAIFC AGM in New York: Key discussions and new board member introductions.

4. EVENTS: Don't miss out on upcoming events like the 6th Abu Dhabi Sustainable Finance Forum by Abu Dhabi Global Market (ADGM), InsureTech Imperative in Tokyo by FinCity.Tokyo (東京国際金融機構) or China Finance Forum 2023 by Luxembourg for Finance and more.

The World Alliance of International Financial Centers (WAIFC) continues to foster collaboration, knowledge sharing, and innovation across global financial centers. Stay informed, stay connected!

📧 Get your monthly newsletter: https://lnkd.in/eEs4uwvF

📲 Newsletter: https://lnkd.in/ekWjRdpw

Abu Dhabi Global Market (ADGM) announces remarkable Q3 2023 performance, witnessing a 52% growth in assets under management and a 35% increase in operational entities.

Notable global players like Sagard, Tikehau Capital, FTI Consulting, and M2 contribute to ADGM's thriving ecosystem.

🌐💼 Explore the impressive growth numbers and the strategic positioning of ADGM in Abu Dhabi's economic vision. Read more about ADGM's role as a catalyst for economic development. https://lnkd.in/giPgDxMu

#ADGM #FinancialGrowth #EconomicVision

Speaking at the plenary session of the 11th Congress of Kazakhstan's Financiers, Renat Bekturov highlighted the importance of several factors in stimulating the development of new technologies and innovations in the financial sector. One such factor, he noted, is the establishment of a favourable regulatory environment and the right mindset in Kazakhstan. As an example, he shared the results of the pilot project on the interaction of AIFC crypto exchanges with Kazakhstani banks: Halyk Bank, Altyn Bank, Zaman-Bank, Freedom Bank, Eurasian Bank, Bereke Bank, Nurbank, and Bank CenterCredit.

According to interim results of the pilot project, over 33,000 clients were able to conduct crypto-fiat transactions in a secure environment within the pilot project between AIFC crypto exchanges and Kazakhstani banks. The current turnover of the pilot project exceeds $200 million, with 67 digital assets approved for trading.

Speaking about the importance of creating the right environment, the Governor of AIFC mentioned the retail investment application - Tabys. It was initiated and developed by the Astana International Exchange (AIX). To date, the application has opened more than 44,000 accounts, with over 14,000 active users, and approximately $4 million have been invested. In the context of KazMunayGas's IPO and KEGOC's SPO through Tabys, including integration with bank mobile applications, more than 17,000 applications were submitted totaling 3.2 billion tenge.

Casablanca Finance City's COO, Lamia MERZOUKI, participated last week at the Africa Investment Forum in Marrakech, where she highlighted:

“Nearly 80% of infrastructure projects in Africa are facing obstacles in getting started due to a lack of capacity. The primary challenge for Africa, beyond financing issues, revolves around capacity building. This will empower us to engage more risk-taking developers willing to work on projects at a very early stage.”

#AIF2023 #CasablancaFinanceCity #Morocco

#DIFC calls for all global innovators and start-ups!

#DIFC is set to host the inaugural USD1mn #FinTech World Cup at the Singapore FinTech Festival. Join the revolution, showcase your #FinTech prowess and stand a chance to secure up to USD1mn in investment.

The pitch competition will be held at the #SFF2023 on 17 November from 3pm-4.30pm at Singapore EXPO Convention and Exhibition Centre, Hall 6, DIFC Booth 6B25. The Winners will be announced during Dubai FinTech Summit taking place on 6-7 May 2024. Read more: https://lnkd.in/eERVJFf7

The Economic Development Board is actively engaging in its commitment 𝐭𝐨 𝐬𝐮𝐬𝐭𝐚𝐢𝐧 𝐚𝐧𝐝 𝐩𝐫𝐨𝐦𝐨𝐭𝐞 𝐥𝐨𝐜𝐚𝐥 𝐜𝐫𝐞𝐚𝐭𝐢𝐯𝐞 𝐚𝐧𝐝 𝐚𝐫𝐭𝐢𝐬𝐭𝐢𝐜 𝐭𝐚𝐥𝐞𝐧𝐭𝐬 𝐚𝐬 𝐰𝐞𝐥𝐥 𝐚𝐬 𝐭𝐨 𝐟𝐨𝐫𝐠𝐞 𝐭𝐡𝐞 𝐜𝐫𝐞𝐚𝐭𝐢𝐯𝐞 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐚𝐬 𝐚 𝐧𝐞𝐰 𝐞𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐩𝐢𝐥𝐥𝐚𝐫 𝐢𝐧 𝐭𝐡𝐞 𝐧𝐞𝐚𝐫 𝐟𝐮𝐭𝐮𝐫𝐞.

This year, several events have been planned as part of EDB’s ongoing initiatives to promote local artists.

An art exhibition is being held from 14 November to 14 December 2023 at the EDB Art Gallery. Some 14 local artists are showcasing their captivating artworks.

A catalogue of the artworks is also available at https://lnkd.in/g8HMw6F2

🚪The gallery will be open to visitors from 9am to 5pm from Monday to Friday!

"Our participation in the Lord Mayor's Show underscores the critical role private-public partnerships play in driving transformative change..." - Obi Ibekwe, CEO of EnterpriseNGR

#TransformativeChange #EnterpriseNGR #InvestLagos #LMS2023

Please check also the Invest Lagos Reception

FinanceMalta Chairman George Vella and the Project Management Office Lead of the Malta Financial Services Advisory Council (MFSAC) Pier Massa will be participating in a webinar hosted by Z/Yen Group Limited titled "Financial Centres of the World 2023: Focus on Malta".

📅 22nd November 2023; 🕥10:30-11:15 (GMT)

Register for the webinar 👉 https://lnkd.in/e2FmPCJM

#FinancialServices #Webinar

FinCity.Tokyo (東京国際金融機構) was delighted to welcome the US Commercial Service’s FinTech Business Development Mission to Japan this week! The mission brought the founders and directors of pioneering e-commerce, blockchain technologies, and artificial intelligence firms from the US to East Asia, and made its first stop in Tokyo.

Tokyo has set its sights on becoming Asia's most dynamic hub for financial innovation, and is already home to 92 headquarters of banks, and more than 650 FinTech start-ups. Japan’s national growth strategy includes the aims of doubling the rate of cashless payments to 40%, and growing the overall financial industry by JPY2.2 trillion to JPY25 trillion by 2025.

As part of this, the Tokyo Metropolitan Government has simplified entry rules and created subsidies for FinTech firms establishing an office in the city. We would like to thank Tokyo Metropolitan Government’s Shinichi Fukunaga for giving the participating firms an introduction to everything Tokyo has to offer for new FinTech entrants, during their visit to the FinCity.Tokyo office.

Our gratitude also goes to Shoki Oyabu from Tokyo Stock Exchange (Japan Exchange Group) for presenting the benefits of a listing on the Tokyo Stock Exchange. The Tokyo Stock Exchange's newly-created Growth division has rapidly become a premier destination for start-up listings, with a higher number of listed companies, and higher trading, compared to HKEX’s GEM and SGX’s Catalist.

Finally, a big thank you to all the FinTech firms who participated, including CCG Catalyst Consulting Group, Graphen, Hummingbird, Rimark, SellersFi, Tanium, Upside.gg, Vertalo, Vidrovr, and ViewTrade Holding Corp.. We hope to see all of you back in Tokyo again soon!

Schalast Law | Tax is committed to climate protection throughout the firm. As a climate-neutral company, the law firm actively integrates sustainability goals into its legal advice. In cooperation with the international law firm network "Multilaw", it has even developed its own "Sustainability Toolkit". Prof. Dr. Christoph Schalast explains further initiatives of the law firm in the fight against climate change in our post.

💡"#FrankfurtGoesCOP" is an initiative that was launched in connection with the upcoming COP28 summit from November 30 to December 12, 2023 in Dubai. The aim is to make the sustainability efforts of companies in the Frankfurt financial center visible and tangible in the context of this global event.

#FSDC held a momentous inauguration ceremony yesterday, officially announcing the establishment of the Hong Kong Academy for Wealth Legacy (#HKAWL). As a subsidiary under the FSDC, the HKAWL is dedicated to propelling excellence and solidifying #HongKong as a preeminent global family office hub.

During the ceremony, Mr Christopher Hui, Secretary for Financial Services and the Treasury, shared, "With the staunch support and efforts from our stakeholders, the family office sector in Hong Kong is thriving with strong momentum to grow further. The establishment of Hong Kong Academy for Wealth Legacy is one of the eight initiatives of the Government’s policy statement on developing a vibrant ecosystem for global family offices and asset owners. The academy will serve as a training hub offering continuous knowledge exchange and networking sessions, bolstering the sustainable growth of the entire family office #ecosystem in Hong Kong."

Dr Adrian Cheng, Chairman of the #HKAWL, highlighted, "The HKAWL’s offers transcends beyond conventional #wealthmanagement and covers diverse areas such as #familygovernance and #policies, #impactinvesting, #philanthropy, and development of #culture and the #arts. We aspire to forge partnerships with global peer organisations to maximize synergies and deliver optimum value to the family office sector. We are dedicated to positioning Hong Kong as a premier global hub for family offices."

As we move forward, we look forward to a future marked by continued collaboration, innovation, and excellence in the global family office community.

#familyoffice #HKAWL #financialservices #FinanceFuture #sustainablegrowth #fsdchk #fsdchongkong

Last night Faizal Bhana, Director, Middle East, Africa and India, hosted our exclusive family business focused event in Riyadh, where we published our research on the key issues, challenges and opportunities faced by the next generation of family business leaders in Saudi Arabia.

Produced jointly with Pearl Initiative, Alfaisal Corporate Governance Center and the National Center for Family Businesses in Saudi Arabia, the full report can be accessed here: https://jsy.fi/49DfIck

The aim of the study is to deepen the understanding of the attitudes of family business leaders in the Kingdom of Saudi Arabia, and to drill down into the challenges and opportunities presented to them because of the considerable impending transfer of both wealth and responsibility, in the context of future sustainable prosperity for the Kingdom and its ambitions.

With a line-up of the following expert speakers, the event delivered critical insights on the Saudi family business and next generation landscape, and we extend our thanks to the following speakers for contributing to the insightful event:

o Ismael Hajjar, PwC Middle East - Keynote speaker

o Dr. Sohale Altamimi, National Center for Family Business - Keynote speaker

o Nour Tassabehji, CdR Capital Limited - Keynote speaker

o Chadi Salloum, Clyde & Co - Moderator

o Pete Unwin, IQ-EQ

o Edward Devenport, Mourant

o Yasmin Alafaliq, Elaqat

o Hassan Zawawi, Alzawawi Law Firm

o Yasmine Omari, EY Private

View pictures from the event on Flickr: https://jsy.fi/49Dhbzm

#saudiarabia #jerseyfinance #familybusiness #nextgen

Yesterday evening, we co-hosted a working dinner, with Raffles Family Office, a renowned private wealth management firm to introduce KIFC to over 50 potential investors in Singapore and explore investment opportunities with Rwanda as an ideal springboard.

Our CEO Nick Barigye along with National Bank of Rwanda (NBR) Governor John Rwangombwa, Raffles Family Office Group CEO Chi-man Kwan & CFA Society Singapore President Simon Ng Chee Wei took part in a panel discussing the key pillars of a thriving financial sector.

Two of our KIFC Club members Q-Lana Inc and Bank of Kigali Plc participated in a second panel discussion, demonstrating that KIFC is open for business and is operating as a conduit of capital.

Welcome Gilles Roth, Luxembourg's new Finance Minister and our new Chairman. We look forward to working with you to further develop Luxembourg's financial center.

We'd also like to extend our congratulations to Luc Frieden, Luxembourg's new Prime Minister.

At the same time, we thank Yuriko Backes for her leadership and tireless effort over the last two years, both as Finance Minister and as Chairwomen of our Board, and Xavier Bettel for his championing of financial services during his time as Prime Minister. We wish you both well in your new roles in government.

Read more: https://bit.ly/3R4OsMS

#Luxembourg #FinanceMinister #financialcentre #finance

🏆 Last week, part of our team was present at the Grand Prix Impact Award Ceremony, a competition organized by the World Impact Summit to reward the companies and startups developing the best innovations in #Ecological and Social Transition.

Our Impact, Fintech and #ESG Talents Program Manager Camille Buewaert presented the #SustainableFinance prize with Thomas Launay (Bpifrance) to ReGeneration!👏

#Innovation #InnovationDurable #FinanceResponsable

Jérôme Vernet Thomas BRUNO Layticia Audibert Justine Levine-Abile Camille Buewaert

We're delighted to have welcomed ILO-Qatar to #QFC! 🤝

During the meeting, we got insights on the latest phase of the ILO-Qatar technical cooperation program and their aspirations for shaping workforce policies aligning with the strategic priorities of the country.

This included discussions on enhancing the representation of Qatari women and men in the private sector, along with a focus on augmenting the proportion of skilled workers in the nation.

**🚀 Stuttgart Financial at the Insurance Day: Innovation through AI 🤖**

AI in the financial industry? This was precisely the topic at the IHK Heilbronn-Franken Insurance Day. As part of keynote speeches by Seedbox Ventures and Ipai - Innovation Park Artificial Intelligence, followed by a panel discussion, 150 participants were able to gain new insights into the hyped topic of recent months. As Stuttgart Financial, we supported the top-class AI panel with the moderation of Dr. Philipp Veit.

The day was therefore not only a showcase for technological advances, but also a forum for lively discussions and networking opportunities. From the political framework to groundbreaking AI innovations - many relevant topics were covered.

Continued engagement with this key topic is crucial to the sustainable innovative strength of the financial industry in Baden-Württemberg.

Stay tuned for more updates on our activities and events!

#StuttgartFinancial #Versicherungstag #KI #Finanzinnovation

The latest blog from our CEO Miles Celic gives an update on our latest activity and outcomes including new reports, events, political engagements and international meetings and delegations.

Read the blog here: https://lnkd.in/eVAmdw_U