FSDC and Casablanca Finance City Authority reinforce links to foster global financial services collaboration
10 Mar 2021
Hong Kong, 10 March 2021 - Today, the Financial Services Development Council (FSDC) and Casablanca Finance City Authority (CFCA) signed a Memorandum of Understanding (MoU) to enhance collaboration between the two centers.
Signed by the Executive Director of the FSDC, Dr Au King-lun and the Chief Executive Officer of CFCA, Mr Saïd Ibrahimi, the MoU provides a framework in which to share best practices and knowledge towards the development of the financial services industry between the FSDC and CFCA. This cooperation will facilitate further development of expertise, within financial education, training programs and many other sectors. Through this agreement, the FSDC and CFCA will also conduct joint initiatives for market promotion.
“The FSDC is pleased to establish this framework for cooperation with CFCA, its counterpart in Morocco. Morocco is the first African country joining the Belt and Road Initiative under which Hong Kong plays a key role in promoting international and regional cooperation. Not only can the MoU strengthen ties between the two agencies in various areas but it also contributes to the global development strategy adopted by Mainland China,” said Mr Laurence Li SC, Chairman of the FSDC.
“We are very pleased to sign this agreement with FSDC to consolidate our cooperation with Hong Kong. Hong Kong ranks amongst the top financial centres worldwide. Our aim is to develop a strong and lasting relationship that will provide businesses and economic operators a solid basis for strengthening investment and trade between Asia, Morocco, and African countries,” stated Mr Said Ibrahimi, Chief Executive Officer of CFCA.
Both the FSDC and CFCA are members of the World Alliance of International Financial Centers (WAIFC), a non-profit association representing 18 leading international financial centers in four continents. Since joining the WAIFC in October 2019, the FSDC has been engaged in the work of the WAIFC and has been striving to keep fellow members informed of the development of Hong Kong’s financial services industry. CFCA is a founding member of the WAIFC and the first African member to join the organization. Since 2018, CFCA has led and participated in several workstreams ranging from Fintechs, SME financing, Sustainable finance and promoting the role of financial centers for the national and global economies.
FSDC has posted a copy of the MoU on its website at www.fsdc.org.hk.
1
/
2