Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, virtually hosted the 2020 Annual General Meeting (AGM) of the World Alliance of International Financial Centers (WAIFC) for the first time.
The high-level, virtual global event brought together all of the 17 international financial centres, which make up the WAIFC’s members, to discuss the latest economic developments and trends, explore means of cooperation and exchange expertise and knowledge.
The discussions were mainly focused on joining forces and making collaborative efforts to introduce best practices and solutions to reignite economic growth in the post Coronavirus (COVID-19) environment.
By establishing an open flow of information, WAIFC has become a perfect platform for all of us to work collectively on important projects and get through this difficult time.
Yousuf Mohamed Al-Jaida - CEO and Board Member, QFC Authority
The four working groups comprising of experts from WAIFC member international financial centres shared preliminary insights during the AGM on how to re-engineer key areas of national economies, including Sustainable Finance, SME Finance, Regulation and FinTech and Innovation, to ignite a lasting and resilient global economic recovery.
It was essential for our members to meet in the current crisis and confirm that financial centres are part of the solution for economic recovery.
Arnaud de Bresson - Chairman of WAIFC
We are very grateful that the Qatar Financial Centre hosted this meeting, even though we could only meet virtually this time.
Dr. Jochen Biedermann - Managing Director, WAIFC
Dr. Jochen Biedermann, Managing Director, WAIFC, said:
“Our members, leading financial centres globally, met today for our Annual General Meeting. We are very grateful that the Qatar Financial Centre hosted this meeting, even though we could only meet virtually this time.
I am delighted to welcome Rwanda Finance as a new member, our third member from Africa, and Dr. King Au from the Hong Kong Financial Services Development Council as a new director of the WAIFC. In our meeting, we talked very intensively about the economic recovery after the current pandemic and what we can do to support it. We will publish concrete recommendations in the coming weeks.”
Senior representatives of the international financial centres and leading financial figures from Qatar and beyond also received insights about the remarkable scope, inclusivity and growth potential of Qatar’s burgeoning business ecosystem with a focus on the country’s rising FinTech sector.
Georges Fouad Salem, Business Intelligence Manager, Qatar Development Bank, shared an in-depth view of the progress Qatar has made in empowering its FinTech landscape with a focus on the Qatar FinTech Hub and its vision in advancing the country’s national FinTech strategy.
Mohammed Aldelaimi, Co-Founder and Managing Director of SkipCash, a budding FinTech firm in Qatar, licensed by the QFC, also shed light on the support it has received from the ecosystem throughout their entrepreneurial journey.
Henk J. Hoogendoorn, Managing Director, Financial Sector Office at QFC, a key partner of the Qatar FinTech Hub, shared the many ways the QFC supports Qatar’s FinTech ecosystem, as Qatar’s primary platform enabling and facilitating businesses, including FinTechs, to set up and register in Qatar.