Two international financial centers — the Astana International Financial Centre (AIFC) and Casablanca Finance City (CFC) — have signed separate Memoranda of Understanding (MOUs) with the Busan Finance Center (BFC), strengthening cooperation between financial centers in Central Asia, Africa, and South Korea.
The agreements were signed in Busan, South Korea, during the World Alliance Annual General Meeting (AGM) week.
The AIFC agreement was signed by Bakhtiyar Tleubekov, Chairman of the Management Board of AIFC, and Myongho Rhee, President of Busan Finance Center. The agreement establishes a framework for closer cooperation between the two institutions, including the exchange of expertise and experience and the exploration of new opportunities for collaboration between their respective financial ecosystems.
Separately, Said Ibrahimi, CEO of Casablanca Finance City, and Myongho Rhee, President of Busan Finance Center, signed an MoU aimed at deepening cooperation between Casablanca and Busan and expanding opportunities for joint initiatives and greater connectivity between their financial ecosystems.
Strengthening links across financial centers
The two agreements reflect a broader effort to strengthen institutional links between financial centers across regions and facilitate greater exchange among financial institutions, businesses, investors, and other market participants.
For AIFC and Busan, the agreement provides a platform for strengthening connections between Astana and South Korea and supporting greater cooperation between their respective financial communities.
For Casablanca Finance City and Busan, the MOU establishes a framework for sharing knowledge and expertise and exploring opportunities for closer collaboration between their markets.
Together, the agreements demonstrate how cooperation between financial centers can create channels for the exchange of experience, strengthen international connectivity, and support greater engagement between businesses and financial institutions across borders.
Expanding international cooperation
The signings took place during the World Alliance's AGM week in Busan, which brought together representatives of financial centers from around the world to discuss developments in international finance and opportunities for greater cooperation.
The agreements also contribute to the World Alliance's broader objective of fostering dialogue and building stronger institutional relationships among financial centers.
The World Alliance welcomed both agreements and congratulated AIFC, Casablanca Finance City, and Busan Finance Center on the new partnerships, which mark further steps toward strengthening connections across the global financial-center network.