WAIFC wraps AGM in Busan with new board, new members and 2027 meeting plans

The World Alliance of International Financial Centers finished its Annual General Meeting in Busan, South Korea, with leadership changes, new memberships and a new honorary category. The weeklong program also set up the Alliance’s next board meeting in Nairobi in spring 2027 and its next AGM in Istanbul in the fall.

Why it matters: - WAIFC used its first major gathering in South Korea to deepen ties among international financial centers and compare how different markets build economic impact. - The meeting added new leadership, expanded membership and set the Alliance’s next major milestones. - Busan used the event to showcase its role in maritime finance, derivatives and global logistics.

What happened: - WAIFC concluded its Annual General Meeting in Busan after a week of meetings, institutional visits and knowledge exchange. - The Busan program was hosted by the Busan Finance Center and included members, observers and invited guests. - The AGM was WAIFC’s first major gathering in South Korea. - Previous AGMs were held in Frankfurt, Tokyo, New York, Casablanca and Dubai. - The Board of Directors elected Miles Celic OBE of TheCityUK as new Chair and Rocky Tung of the Hong Kong Financial Services Development Council as new Vice-Chair. - The new Chair and Vice-Chair will take office after the current terms end in 2026. - The Board appointed Pawel Widawski of Future Finance Poland as Treasurer. - Widawski succeeds Lynn Robbroeckx of Luxembourg for Finance. - Lynn Robbroeckx will remain on the Board of Directors.

The details: - Members elected four new Board members: Ahmet İhsan Erdem of Istanbul Financial Center, Mansoor Rashid Al-Khater of Qatar Financial Centre Authority, Alhussain Al Qalhati of IFC Oman and Bakhtiyar Tleubekov of AIFC Authority. - WAIFC said the new appointments strengthen the geographic diversity of its leadership. - Members thanked departing Board members Yousuf Al-Jaida, Temirlan Mukhanbetzhanov and Abdullah Al Rabiei for their support. - WAIFC introduced a new Honorary Membership category for individuals who made an outstanding contribution to the Alliance’s mission. - Hubertus Väth, the current Vice-Chair, and Said Ibrahimi, CEO of Casablanca Finance City Authority, were named the first Honorary Members. - WAIFC approved Tashkent International Financial Centre as a new member after its observer role since 2022. - WAIFC also approved Oman International Financial Centre as a member after Oman shifted representation from the Financial Services Authority. - Oman International Financial Centre will continue Oman’s contribution to the Alliance, including Board representation. - WAIFC concluded its Impact of Financial Centers project. - The project creates a common framework for financial centers to understand, measure and communicate their economic impact across wider ecosystems. - The white paper will be presented at the BIFC Global Finance Symposium 2026: Symposium on the Future of Global Financial Centers in Busan on Sept. 16, 2026. - Members heard from the three finalists for WAIFC’s 5th Young Academic Award: Wiktoria Chrzanowska of SGH Warsaw, Natalie Playford of the University of Toronto and Won Woo of Hanyang University. - The winner will be announced during the BIFC Global Finance Symposium. - The wider Busan program continues through the week with institutional visits, roundtables, meetings with financial and maritime industry leaders, a dinner with the Mayor of Busan and participation in the symposium. - The program includes first-hand exposure to Busan’s financial and economic ecosystem. - Busan’s strengths highlighted during the visit include maritime finance and derivatives.

Between the lines: - The leadership changes suggest WAIFC is broadening its geographic balance while keeping continuity in core roles. - The new honorary category gives the Alliance a way to formally recognize long-term contributors without adding operational board responsibilities. - The impact framework points to a broader push among financial centers to prove their value in measurable terms, not just by reputation or scale. - Busan’s hosting role reinforces its effort to position itself as a specialized global financial center, not just a port city. - The Alliance’s mix of academic, policy and industry programming shows a focus on sharing practices across regions rather than promoting one model.

What's next: - WAIFC will announce the winner of its 5th Young Academic Award at the BIFC Global Finance Symposium. - The Alliance will present the Impact of Financial Centers white paper at the symposium in Busan. - WAIFC will hold its next Board Meeting and Extraordinary General Meeting in Nairobi in spring 2027. - WAIFC will hold its next Annual General Meeting in Istanbul in the fall of 2027. - The Alliance signaled it will keep building collaboration across members and support for one another’s development.

The bottom line: - WAIFC left Busan with a refreshed board, broader membership and a clearer agenda for measuring financial centers’ real-world impact.