The World Alliance of International Financial Centers (WAIFC) concludes its Annual General Meeting in Busan

The World Alliance of International Financial Centers brings together representatives from international financial centers in Busan for a week of meetings.

BUSAN, SOUTH KOREA, September 15, 2026 /EINPresswire.com/ -- WAIFC brings together representatives from international financial centers in Busan for a week of meetings, institutional visits, and knowledge exchange, beginning with its Annual General Meeting (AGM). The AGM marks the World Alliance’s first major gathering in South Korea and continues its program of convening members in leading financial centers, following previous AGMs in Frankfurt, Tokyo, New York, Casablanca, and Dubai.

Hosted by the Busan Finance Center (BFC), the program brings together World Alliance members, observers, and invited guests to exchange experience, and strengthen cooperation among financial centers, while gaining insights into Busan’s role as an international financial and economic hub.

During the AGM, the Board of Directors elected its new Chair Miles Celic OBE from TheCityUK and Vice-Chair Rocky Tung from the Hong Kong Financial Services Development Council. The new appointments will take office following the completion of the terms of the current Chair and Vice-Chair at the end of 2026. Furthermore, the Board appointed Pawel Widawski from Future Finance Poland as the new Treasurer. He succeeds Lynn Robbroeckx from Luxembourg for Finance. All Board members express their gratitude to Lynn for her excellent work and she will continue to serve on the Board of Directors.

In addition, members elected four new Board members: Ahmet İhsan Erdem, CEO of Istanbul Financial Center; Mansoor Rashid Al-Khater, CEO of Qatar Financial Centre Authority; Alhussain Al Qalhati, Associate Director at IFC Oman; and Bakhtiyar Tleubekov, Chairman of the Management Board of AIFC Authority. The appointments further strengthen the geographic diversity of WAIFC’s leadership. Members thanked departing Board members Yousuf Al-Jaida, Temirlan Mukhanbetzhanov, and Abdullah Al Rabiei for their support.

The AGM also introduced a new Honorary Membership category, recognizing individuals who have made an outstanding contribution to the mission of The World Alliance. Hubertus Väth, current Vice-Chair of the World Alliance, and Said Ibrahimi, CEO of Casablanca Finance City Authority (CFCA), were appointed the first Honorary Members in recognition of their contributions to the World Alliance as founding members and since its establishment.

The AGM also marked the continued expansion of WAIFC’s membership. Tashkent International Financial Centre (TIFC) was approved as a new member, following its participation as an observer since 2022. Oman International Financial Centre (OIFC) was also approved as a member following the transition of Oman’s representation from the Financial Services Authority. OIFC will continue Oman’s contribution to the Alliance, including representation on the Board.

The World Alliance also concluded the Impact of Financial Centers project. Building on earlier work, the project introduces a common framework to help financial centers understand, measure, and communicate the impact they create across their economies and wider ecosystems, while recognizing different roles, models, and levels of maturity. The white paper will be presented at the BIFC Global Finance Symposium 2026: Symposium on the Future of Global Financial Centers, taking place in Busan tomorrow.

Members also heard presentations from the three finalists of WAIFC’s 5th Young Academic Award: Wiktoria Chrzanowska (SGH Warsaw), Natalie Playford (University of Toronto) and Won Woo (Hanyang University). The winner will be announced during the BIFC Global Finance Symposium.

Following the AGM, the wider Busan program continues through the week, where participants will experience the city’s financial and economic ecosystem first-hand, including its strengths in maritime finance and derivatives. The program includes institutional visits, roundtables, meetings with financial and maritime industry leaders, a dinner with the Mayor of Busan, and participation in the BIFC Global Finance Symposium 2026.

Looking ahead, the Alliance will hold its next Board Meeting and Extraordinary General Meeting in Nairobi in spring 2027, followed by its Annual General Meeting in Istanbul in the fall.

Lamia Merzouki, Chair of the Board of Directors, said:
“It is particularly fitting that my final AGM as Chair has brought us to Busan. Over recent years, our AGMs have taken us from Casablanca and New York to Tokyo, Frankfurt and now Busan, reflecting the truly global breadth of the World Alliance and the value of learning from financial centers across different markets and regions. Bringing our members together here has enabled a rich exchange with Asian financial centers and reinforced why international cooperation matters. This AGM also marks an important milestone with the release of our report, a reflection of the depth of knowledge, experience and perspectives that exist across our global membership.”

Hubertus Väth, Vice-Chair of the World Alliance, said:
“Financial centers play an important role in connecting capital, businesses, markets and ideas across borders. But no center operates in isolation. Our industry needs the exchange of ideas and expertise, and greater collaboration among centers, to stimulate sustainable growth. That is what the World Alliance has sought to facilitate since it started. Creating an environment that allows members to learn from one another, collaborate on shared priorities, and collectively strengthen the contribution financial centers make to their economies.”

Jochen Biedermann, Managing Director of the World Alliance, said:
“We thank our members and observers for joining us in Busan and BFC for an excellent program. These meetings provided another valuable opportunity to share ideas, learn from our hosts and identify practical areas where our members can work more closely together. We are also very pleased to welcome Tashkent International Financial Centre as our newest member and to see the continued evolution of our membership in Oman. We look forward to deepening collaboration across the Alliance, and creating more opportunities for our members to support one another’s development.”

Myongho Rhee, President of Busan Finance Center, said:
“Hosting the WAIFC Annual General Meeting in Busan provided an important opportunity for two-way exchange: to learn from the experience of financial centers around the world, while sharing Busan’s own model as Korea’s maritime capital, a maritime finance hub, and a specialized global financial center shaped by our position as a major global port and logistics hub. The discussions demonstrated how different models and specializations can offer valuable lessons for one another, and we look forward to continuing that exchange through the World Alliance.”

Abdulrahim Osman
WAIFC
osman@waifc.finance