The World Alliance of International Financial Centers concludes its Annual General Meeting in Germany
After attending the opening of SIBOS, the annual conference of SWIFT, today, and a number of project meetings, World Alliance members were addressed by His Excellency, Nguyen Hoa Binh, First Deputy Prime Minister of Vietnam, who briefed the members on Vietnam’s latest IFC project in Ho Chi Minh City and Da Nang.
Members were welcomed by Frankfurt Main Finance, the AGM host member, to mark the week.
Notable decisions reached during the AGM, including the expansion of the WAIFC membership with Nairobi International Financial Centre (NIFC) joining the alliance, taking the total members to 21. NIFC is a leading financial hub in East Africa, providing an efficient gateway for investors and businesses to access 54 African countries, 1.3 billion people and a combined GDP of $3.4 trillion. The NIFC is a key pillar of Kenya’s Vision 2030, a national socio-economic blueprint launched in 2008 with the aim to transform Kenya into a middle-income country by 2030 and position Nairobi as Africa’s leading investment destination.
The General Meeting also elected two new board members and re-elected several other board members, with Hortense Mudenge, the CEO of the Kigali International Financial Centre, and Pawel Widawski, the President of Future Finance Poland appointed to the board of directors.
Members also agreed to publish a report by the end of the year, regarding the 2025 project exploring the evolution of Artificial Intelligence (AI) in the financial industry. Bringing together insights from members will give it perspectives from international financial centers worldwide, and assess AI adoption and sourcing, its impact on regulation, and the broader opportunities and challenges shaping the sector. This collaborative effort aims to strengthen global understanding of AI’s role in transforming finance and to support the development of effective governance frameworks.
Looking at the year ahead, members will be convening in 2026 for a Board Meeting and Extraordinary General Meeting in Malta on 3 March and the WAIFC Annual General Meeting 2026 will be in Busan, South Korea on 14 September.
Lastly, members also voted for the winning paper for the fourth WAIFC Young Academic Award. After receiving 57 applications from 20 countries, the jury announced the winners at a special ceremony held after the AGM at TechQuartier in Frankfurt.
Commenting on the AGM, Lamia Merzouki, Chair of the WAIFC Board of Directors, stated:
“With one of our largest delegations present at our AGM in Germany, we were delighted to welcome a new member, two new board members, expand the Young Academic Award, and launch a joint project on AI in Finance – exploring opportunities, risks, and ways to accelerate adoption across global financial centers. These outcomes reflect our collective commitment to shaping the themes that define our industry while creating value for our members. I would like to thank all our members, observers, and guests for making this one of our most comprehensive AGMs to date, and extend special appreciation to our hosts, Frankfurt Main Finance and the WAIFC management team, for their seamless coordination. Together, we are strengthening our alliance, fostering collaboration, and delivering meaningful impact.”
Hubertus Väth, Vice Chair of the WAIFC Board, added:
“Hosting the WAIFC members, observers and guests in my home country was an incredible honor and with Frankfurt being a founding member of the alliance. Seeing the growth and impact of WAIFC over the past seven years demonstrated the incredible commitment of members and the inspiration it creates for new members as we grow our footprint. The industry needs exchange of ideas and collaboration to stimulate growth and that is what we aim to facilitate as a truly global alliance. “
Dr. Jochen Biedermann, Managing Director of WAIFC, added:
“We thank our members and observers for joining us in Germany for a valuable exchange of ideas. We're pleased to welcome our new member, Nairobi International Financial Centre (NIFC), and look forward to deepening collaboration across our members to foster meaningful dialogue and drive mutual growth. “
The World Alliance of International Financial Centers (WAIFC) is a non-profit association registered in Brussels, Belgium, which represents leading international financial centers and facilitates cooperation and the exchange of best practices. WAIFC members are city governments, associations, and similar institutions developing and promoting their financial centers.
WAIFC facilitates cooperation between its members, the exchange of best practices, and communication with the general public.
Contact:
- Abdulrahim Osman, WAIFC Press Officer, osman@waifc.finance