12th October 2018

The World Alliance of International Financial Centres launches

After announcing their strategic alliance in Paris on 12th July, 11 financial centres have launched the World Alliance of International Financial Centres (WAIFC) international association under Belgian law, based in Brussels.

The founding members of the new international non-profit association are:
• Abu Dhabi Global Market
• Astana International Financial Centre Authority
• Belgian Finance Club
• Busan International Financial City Promotion Centre, BEPA
• Casablanca Finance City Authority
• Frankfurt Main Finance
• Luxembourg for Finance
• Moscow: Analytical Centre Forum
• Oman: The Capital Market Authority
• Toronto Finance International

FeBAF, the Italian Banking, Insurance and Finance Federation, represented by its CEO, Paolo Garonna, will join as an observer.

WAIFC aims to share best practices and cross fertilisation between International Financial Centres and to develop the dialog with the Public Authorities at the international level. WAIFC will be project driven. Initially, WAIFC will focus on concrete projects in the following areas:
1. Data on financial centres
2. Contribution of financial centres to Green investment & infrastructure
3. New Fintech developments
4. The role of financial centres in the financing of the economy

WAIFC Board of Directors is composed of senior leaders from the founding members:
• Abdullah AL SALMI, The Capital Markets Authority Oman
• Arnaud de BRESSON, Paris EUROPLACE
• Said IBRAHIMI, Casablanca Finance City
• Kairat KELIMBETOV, Astana International Financial Centre
• Frederic de LAMINNE, Belgian Finance Club
• Jennifer REYNOLDS, Toronto Finance International
• Young Ho PARK, Busan International Financial City Promotion Centre
• Philippe RICHARD, Abu Dhabi Global Market
• Tom THEOBALD, Luxembourg for Finance
• Hubertus VAETH, Frankfurt Main Finance
• Alexander VOLOSHIN, Analytical Centre Forum Moscow

The first elected Chairman is Arnaud de Bresson, CEO Paris EUROPLACE, Treasurer is Frederic de Laminne, Belgian Finance Club, and the Managing Director is Jochen Biedermann, Frankfurt Main Finance. The head office will be in Frankfurt am Main.

The next General Assembly will be held around December, with the participation of the founding members and additional financial centres. WAIFC is open for further members as well as sponsors.