The Economic Development Board (EDB) of Mauritius has acceded, in July 2019, to the Membership of the World Alliance of International Financial Centres (WAIFC). This will enable Mauritius to position itself as an International Financial Centre (IFC) of choice, repute and substance, and will allow the EDB to strengthen its position and visibility as well as foster cooperation among financial centres.
The EDB, as the statutory body responsible for the promotion of the Mauritius IFC, has also been voted on the Board of Directors of the WAIFC.
According to the CEO of the EDB, Mr François Guibert, this strategic alliance will further strengthen the value that Mauritius adds as an IFC in the global economy. This, he said, will enable the EDB to leverage on its Membership to the WAIFC to advocate on the important role that the Mauritius IFC plays, as a robust, sophisticated, and well-regulated platform, in driving prosperity in developing and emerging countries.
The WAIFC is an association of global financial jurisdictions, and has as core objectives, the promotion of cooperation among financial centres in order to sustain long-term growth, explore cross-fertilisation opportunities and facilitate exchanges of best practices. The WAIFC is additionally developing the dialogue with public authorities on an international level.
The WAIFC is spearheading a series of projects for the benefit of its Members, the civil society and the global community, along with a FinTech Empowerment and Capacity-Building Initiative, a series of publications on the role of IFCs in financing the economy, and a Financial Centre Database.
It is recalled that the WAIFC currently has 13 Members, including Frankfurt Main Finance, Luxembourg for Finance, CityUK, Paris Europlace, Toronto Finance International, Abu Dhabi Global Markets, and Casablanca Finance City.