On the initiative of the Strategic Reforms Agency (SRA) under the President of the Republic of Uzbekistan, the issue of Tashkent’s participation as an international financial center in the activities of WAIFC and obtaining Tashkent status as “observer” WAIFC was raised at the most recent Board of Directors meeting of the World Alliance of International Financial Centers (WAIFC) in Casablanca (Kingdom of Morocco).
Tashkent was granted “observer” status by the World Alliance of International Financial Centers by a vote of the majority of the WAIFC Board of Directors. The SRA has been designated as Tashkent’s official representative in the WAIFC as an international financial center.
Participation of Tashkent in Alliance activities as an international financial center entails the creation of a global network of allies to assist in the growth and operation of the Tashkent International Financial Center (TIFC). Access to the knowledge of financial institutions taking part in the Alliance;
involvement in working groups and collaborative initiatives of Alliance members in the areas of financial market growth and digitization, the execution of investment policy objectives, and promotion of the Republic of Uzbekistan’s investment potential
For more details:
- An international non-profit association that links specialist financial industry organizations is called the World Alliance of International Financial Centers.
- In order to develop shared strategies to create an enabling environment and infrastructure for the development of the financial sector, taking into account the process of digitization, prominent financial centers from around the world collaborate through WAIFC.
- Administrations of financial centers and cities, financial market associations, and specialist business groups make up the Alliance’s members.
The Alliance has 21 members as of October 2022, along with 7 observers.
New York, London, Frankfurt, Paris, Hong Kong, Dubai, Abu Dhabi, Qatar, Toronto, Busan, Casablanca, Astana, and more cities are included in this list.
The Alliance’s financial centers bring together more than 60,000 investment firms, 8,000 banks, and 20,000 fintech startups.
Press Office of the Strategic Reforms Agency