„The World Alliance of International Financial Centers held its Annual General Meeting today, this time virtually and hosted by the Qatar Financial Centre. It was essential for our members to meet in the current crisis and confirm that financial centers are part of the solution for economic recovery. We have important contributions to accelerate growth, with a strong focus on accelerating sustainable finance and financial innovation.“
On October 19, 2020 the Annual Meeting of the World Alliance of International Financial Centers (WAIFC) took place. Due to the current situation caused by the corona pandemic, it was held virtually „in Qatar“. With a well-designed program by colleagues, all 17 international financial centers that make up the members of the WAIFC came together to discuss the latest economic developments and trends, explore opportunities for cooperation and exchange expertise. Discussions focused mainly on joining forces and joint efforts to introduce best practices and solutions to revive economic growth in the post-coronavirus environment (COVID-19).
The WAIFC also held a project meeting on economic recovery from the current pandemic, which was open to the public. The four workstreams presented their preliminary findings and initial recommendations:
- Workstream on SME Finance, held by Astana International Financial Centre, Belgian Finance Center and Toronto Financial Center;
- Workstream on Regulation, held by Capital Markets Authority Oman, Paris Europlace and The City UK;
- Workstream on Sustainable Finance, led by Abu Dhabi Global Market and Stuttgart Financial;
- Workstream on Innovation & FinTech, led by Luxembourg for Finance and Qatar Financial Centre.
Last but not least, Pinar Ozcan, Professor of Entrepreneurship and Innovation at the Said Business School of Oxford University, gave an insightful presentation on „The Rise of Fintech: Opportunities and Challenges“.