DIFC hosts meeting for leaders from WAIFC at Dubai

Dubai International Financial Centre (DIFC) hosted the Annual General Meeting 2021of World Alliance of International Financial Centers (WAIFC) in Dubai, attended by 35 members’ representatives.

Arif Amiri, CEO of DIFC Authority, commented: “DIFC is delighted to be hosting the World Alliance of International Financial Centers’ Annual General Meeting. It is the first time leaders from financial centers across the globe have chosen to convene in Dubai. We are looking forward to leading important discussions with our fellow members, especially in the areas of the future of finance and innovation where we have made substantial progress, as well as highlighting the achievements DIFC has made, which contribute to our reputation as the region’s leading financial center.”

Commenting on the Annual General Meeting results, Jennifer Reynolds, Chairwoman of the WAIFC, stated: “Today’s Annual General Meeting of WAIFC was an opportunity to reflect on the important role financial centers play in supporting the recovery from the pandemic and the growth in the real economy. Our members all agree on the importance of collaborating on how best to accelerate sustainable economic growth and innovation in the delivery of global financial services. We were also delighted to welcome our newest member, the Italian Banking, Insurance and Finance Federation (FeBAF).”

Dr. Jochen Biedermann, Managing Director of the WAIFC, added: “After a long pandemic-related break, our members met in Dubai today for our Annual General Meeting and had a very intensive exchange on current topics. The focus was on sustainable finance and the economic recovery from the pandemic. We would like to thank DIFC very much for the kind invitation to Dubai, the warm hospitality, and the perfect organization of our Annual General Meeting.”

The Italian Banking, Insurance, and Finance Federation were unanimously authorized for membership at the WAIFC General Meeting (FeBAF). FeBAF has previously served as an observer, and all WAIFC members are eager to continue working closely with FeBAF and exchanging best practices.

For a second term, eleven members of the board of directors and the managing director were re-elected. Jersey Finance has also become a member of WAIFC as an observer.

The delegates also discussed contemporary concerns, such as coordinated efforts to aid economic recovery from the current pandemic, a sustainable financial industry transition, and innovative financial trends such as artificial intelligence, SMEs financing, and inclusive finance.

Over the next two days, further member events will take place, including a roundtable on the future of financial centers, a tour to DIFC’s Innovation Hub and FinTech Hive, and a gathering at the Dubai Expo.

DIFC, which was appointed to the WAIFC Board on June 3, 2021, collaborates with WAIFC to solve major challenges including pandemic resilience and recovery and long-term succession planning. DIFC’s dedication to sharing industry knowledge with other financial centers worldwide is reflected in its membership in WAIFC. With WAIFC members, DIFC is working on advancing the future of finance in areas such as FinTech, Innovation, Sustainable Finance, and the development of Digital Economies.