Frankfurt Main Finance (FMF) is highly engaged in strengthening the financial centres’ international position and providing dialogue platforms. An integral part of those efforts are high-level delegation trips to partner cities. As such, FMF representatives recently travelled to Qatar and Kuwait to share best practices with representatives of the respective financial centres and to foster the dialogue on an international level.
As part of the latest visit, Frankfurt Main Finance met with representatives of the Qatar Financial Center (QFC) Authority. The organisation manages and maintains the QFC legal and tax environment, and licenses ﬁrms to conduct business in or from Qatar. Moreover, it develops relationships with the global ﬁnancial community and other key institutions, both within and outside of Qatar.
Furthermore, Hubertus Väth, Managing Director of Frankfurt Main Finance, conducted an exclusive interview with the television channel Al Jazeera English, which focused on the consequences of Great Britain’s decision to leave the European Union. “London will remain one of the world’s leading financial centres,” said Hubertus Väth. However, as Väth stated, London will lose its passporting rights to the EU27, which currently allow the selling of financial products throughout the entire Union. Moreover, he emphasised FMF’s stance: “Brexit is neither good for the European Union nor is it good for Great Britain.”
This trip is an excellent example of FMF’s efforts to establish a vast international network of financial centres, which continuously grows and within which Frankfurt Main Finance represents the interests of the Financial Centre Frankfurt. Just in July 2018, FMF representatives travelled to the Global Finance Forum at Kazakhstan’s capital Astana, at which they discussed the challenges and changes in a globally interconnected financial industry with well-renowned industry experts and politicians.
Frankfurt Main Finance is a founding member of the World Alliance of International Financial Centers (WAIFC)
In an era of breakthrough technologies and rapid social change, Financial Centres are key to sustaining economic growth. Thus, the objective of the Word Alliance of International Financial Centers is to create a transparent network that facilitates cooperation and sharing of best practices to further the understanding of the importance of international financial centres for national and international economies as well as social development.