FGA Trust Appointed as ABC Bank's Eligible Introducer to Pioneer AI-Driven Wealth Corridor Between Asia and Africa
HONG KONG SAR - Media OutReach Newswire - 14 May 2025 - FGA Trust, a Hong Kong-based innovative licensed digital trust platform provides comprehensive fiduciary solutions, has been officially appointed as the Eligible Introducer of ABC Bank, an leading Mauritius financial institution with over a decade of regional expertise, marking a strategic leap to empower high-net-worth individuals(HNWIs) in tapping Africa's booming investment opportunities.This appointment aligns with both parties' digital transformation roadmap, which combines the bank's African foothold with FGA Trust's AI-powered solutions to unlock high-growth opportunities for Asia's HNWIs in Africa's $3.4 trillion economy.FGA Trust provides an AI-optimized solution to fasten the client onboarding application process, automating KYC and documentation process while ensuring full regulatory compliance.Mauritius has been a strategic gateway for businesses to enter Africa, as it ranked among Africa's top three foreign direct investment destinations. The appointment offers structured access to offshore bank accounts, trust structure, multiple financing and investment channels, tailored for Asian and African HNWIs alike.FGA Trust's AI-driven Wealth Corridor helps to bridge the Asian wealth with African growth via such an appointment, echoing the Belt and Road Initiative. It also merges FGA's expertise in Asia private wealth frameworks with ABC's on-ground insights into African jurisdictions.Mr. Kavi Harilela, Director of FGA Trust, said: 'This appointment isn't just about bridging geographies—it's about rewriting the rules of engagement between Asian capital and African innovation. Africa's complexity demands more than ambition—it requires institutional trust. We would like to provide bank-grade custodianship and also build a foundation of compliance-by-design.'By connecting FGA Trust's AI precision and fiduciary solutions with the ABC Bank's finance infrastructure, it is creating a frictionless pipeline for investments into Africa's digital leapfrogging, opening up more opportunities for global HNWIs.Hashtag: #FGA #assetmanagement #HongKong #資產管理 #Trust #信托 #OffshoreBank #離岸銀行 Wechat: 香港FGA信托
The issuer is solely responsible for the content of this announcement.
FGA Trust
FGA Trust is a Hong Kong-licensed financial institution specializing in bank-grade asset protection and customizable trust solutions. Our services provide a secure framework for managing and safeguarding clients' assets, ensuring their financial legacies are preserved according to their wishes. With a team of experts from the trust, financial services, and payment sectors, we utilize cutting-edge, compliant technology to deliver customer-first services that prioritize safety and discretion. At FGA Trust, we empower clients to live confidently, knowing their arrangements are optimized for their benefit.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malay Mail
a day ago
- Malay Mail
Bank of China (Hong Kong) x Television Broadcasts Limited ("TVB") "Wealth Management Expo 2025" was successfully held
Driving Economic Momentum, Leading Trends with Mega Events Officiating guests - Mr. Paul Chan, GBM, GBS, MH, JP, the Financial Secretary of the HKSAR Government (Fourth Right), Miss Rosanna Law, JP, Secretary for Culture, Sports and Tourism (Third Left) and Mr. Stephen Chan, Deputy Chief Executive of BOCHK (Forth Left); together with other attending guests including Mr. Thomas Hui, JP, Executive Chairman of TVB (Third Right) and representatives from BOCHK. HONG KONG SAR - Media OutReach Newswire - 21 June 2025 - The "Wealth Management Expo 2025", powered by Bank of China (Hong Kong) ("BOCHK") and organised by TVB under the theme of "Driving Economic Momentum, Leading Trends with Mega Events" has been successfully held today. The Expo has brought together leading figures from the government, business and financial sectors to provide in-depth analysis and share valuable insights into market trends through examining the international landscape, RMB internationalisation, the mega-event economy, as well as personal and business financial Expo was officiated by Mr. Paul Chan, GBM, GBS, MH, JP, the Financial Secretary of the HKSAR Government; Miss Rosanna Law, JP, Secretary for Culture, Sports and Tourism; and Mr. Stephen Chan, Deputy Chief Executive of BOCHK. Miss Rosanna Law also shared at the summit forum on how mega events catalyse Hong Kong's economy. Other attending guests included Mr. Thomas Hui, JP, Executive Chairman of TVB and representatives from in his opening speech, "As a leading commercial bank rooted in Hong Kong for over a century, BOCHK fully leverages its regional advantages and integrated offerings to continuously enhance operational capabilities while delivering high-quality services. Apart from actively promoting green finance and inclusive financial development, BOCHK drives continuous innovation in fintech, accelerating its digital transformation. The Bank is committed to supporting Hong Kong in reinforcing its position as a global offshore RMB business hub, while deepening cross-boundary financial business within the Guangdong-Hong Kong-Macao Greater Bay Area."The opening forum of the Expo, "Dissecting Economic Pulse and Exploring Opportunities in RMB Internationalisation," featured Dr. Jianguang Shen, Vice President of Dr. Rocky Tung, Director and Head of Policy Research for the Financial Services Development Council; Mr. Dong Tao, President of Spring Capital (Hong Kong) Limited and a renowned economist; and Mr. Jack Yang, RMB Business Executive Director of BOCHK, who engaged in an in-depth discussion on the various opportunities in the internationalisation of the RMB, including how enterprises can leverage the advantages of RMB settlement to reduce cross-border transaction costs, as well as the attractiveness of RMB-denominated assets and emerging investment opportunities in the international capital Hong Kong SAR Government has been actively promoting the "Mega-event economy" in recent years, aiming to generate more business opportunities and attract more tourists through sports competitions, art exhibitions, large-scale international events and conferences. The speakers of the summit forum themed "Mega Events as Economic Catalysts: Synergy of Sports, Arts, Culture and Tourism" are Miss Rosanna Law, JP, Secretary for Culture, Sports and Tourism; Mr. Wilfred Ng, GBS, MH, JP, Chairman of the Major Sports Events Committee; and Prof. Douglas So, BBS, JP, Chairman of the Board of M Plus Collections Limited, Chairman of the Advisory Committee on Built Heritage Conservation. They conducted an in-depth analysis of the diverse opportunities created by mega events. The three speakers explored how mega events drive economic growth from multiple perspectives, and shared insights on recent preparations for organising sports mega events and their economic contributions, while emphasising the importance of participation and support from all Expo also held five thematic workshops, where several experts dissected the latest trends in the global economy and markets. Regarding global economic development, two fund workshops "Global Outlook of Asset Appreciation Potential in International Markets" and "From Asia to the World: Multi-Asset Allocation Strategies for Enhanced Returns" along with the cross-border workshop "Strategic Overview on Equity Markets and Economic Insights" emphasised the importance of focusing on Asia and global markets, empowering investors to grasp opportunities across different regions and industries to formulate prudent wealth growth strategies. The legacy planning workshop "Securing Wealth Legacy, Prosperity Across Three Generations" concentrated on planning wealth for the next generation, grounded in love and sheltered by insurance. In addition, the stock market workshop "Decoding the Stock Market: Sector Analysis and Trading Tactics" explored market trends, the AI boom and analysed the prospects of technology enrich participants' experience, the venue also featured an immersive digital experience zone. Utilising an LED spherical display and a surrounded screen, the zone showcased three main themes in a one-stop format: anti-fraud, AI data applications and ESG. Participants can learn about BOCHK's digital "Wealth Management Expo 2025" concluded successfully with fruitful outcomes. Through a full day of engaging forums, workshops, digital experience zone and sponsored booths, BOCHK hopes that industry professionals, investors and the public gained insights into changes in the international environment and market opportunities, with a focus on the RMB internationalisation and the diverse opportunities brought by the Mega-event economy, while mastering the path to wealth growth and announced the extended collaboration withbrand ambassador Moses Chan, appointing him as the premium family wealth management brand FamilyMAX & BOCHK Cross-Border GO star brand ambassador and BOC Life's Star Product & Services Ambassador. Having founded a coffee brand years ago, Moses Chan's "entrepreneur" identity has become as well-known as his acting career. Today, Moses Chan and Natalie Tong, popular Japanese bakery brand co-founder, Best Actress and Business Banking brand ambassador, appeared at the "Dialogue with the Best Actor and Actress" to share how to balance multiple roles as actors and owners of catering business. They also discussed how to utilise financial knowledge and leverage professional teams and fintech services to enhance personal and business wealth management #WealthManagementExpo2025 The issuer is solely responsible for the content of this announcement.
Malay Mail
2 days ago
- Malay Mail
Africa pioneers low-cost, non-dollar payment systems, defying Trump's de-dollarisation threats
PAPSS payment system allows trade settlement in local currencies Experts says move aims of lowering trade costs South Africa using G20 presidency to advance local payments US President Trump warns against de-dollarisation efforts NAIROBI, June 20 — Africa's push for local currency payments systems — once little more than an aspiration — is finally making concrete gains, bringing the promise of less costly trade to a continent long hobbled by resource-sapping dollar transactions. But efforts to move away from the dollar face strong opposition and the threat of retaliation from US President Donald Trump, who is determined to preserve it as the dominant currency for global trade. The move by Africa to create payments systems that do not rely on the greenback mirrors a push by China to develop financial systems independent of Western institutions. Countries like Russia, which face economic sanctions, are also keen for an alternative to the dollar. But while that movement has gained a sense of urgency due to shifting trade patterns and geopolitical realignments following President Trump's return to the White House, African advocates for payment alternatives are making their case based on costs. 'Our goal, contrary to what people might think, is not de-dollarisation,' said Mike Ogbalu, chief executive of the Pan-African Payments and Settlements System, which allows parties to transact directly in local currencies, bypassing the dollar. 'If you look at African economies, you'll find that they struggle with availability for third-party global currencies to settle transactions,' he said. Africa's commercial banks typically rely on overseas counterparts, through so-called correspondent banking relationships, to facilitate settlements of international payments. That includes payments between African neighbours. That adds significantly to transaction costs that, along with other factors like poor transport infrastructure, have made trade in Africa 50 per cent more expensive than the global average, according to the UN Trade and Development agency. It is also among the reasons so much of Africa's trade — 84 per cent, according to a report by Mauritius-based MCB Group — is with external partners rather than between African nations. 'The existing financial network that is largely dollar-based has essentially become less effective for Africa, and costlier,' said Daniel McDowell, a professor at Syracuse University in New York specialising in international finance. A man counts Nigerian naira notes in a market place as people struggle with the economic hardship and cashflow problems ahead of Nigeria's Presidential elections, in Yola, Nigeria, February 22, 2023. — Reuters pic Homegrown systems According to data compiled by PAPSS, under the existing system of correspondent banks, a US$200 million (RM851 million) trade between two parties in different African countries is estimated to cost 10 per cent to 30 per cent of the value of the deal. The shift to homegrown payments systems could cut the cost of that transaction to just 1 per cent. Systems like PAPSS allow a business in one country, Zambia for example, to pay for goods from another like Kenya, with both buyer and seller receiving payment in their respective currencies rather than converting them into dollars to complete the transaction. Using currencies like the Nigerian naira, Ghanaian cedi or South Africa's rand for intra-Africa trade payments could save the continent US$5 billion a year in hard currency, Ogbalu told Reuters. Launched in January 2022 with just 10 participating commercial banks, PAPSS is today operational in 15 countries including Zambia, Malawi, Kenya and Tunisia, and now has 150 commercial banks in its network. 'We have also seen very significant growth in our transactions,' Ogbalu said, without providing usage data. The International Finance Corporation, the World Bank's private sector lending arm, has, meanwhile, started issuing loans to African businesses in local currencies. It views the switch as imperative for their growth, relieving them from the currency risks of borrowing in dollars, said Ethiopis Tafara, IFC's vice-president for Africa. 'If they are not generating hard currency, a hard-currency loan imposes a burden that makes it difficult for them to succeed,' he said. Africa's push for local currency payments systems is finally making concrete gains, bringing the promise of less costly trade to a continent long hobbled by resource-sapping dollar transactions. — Picture By Choo Choy May Geopolitics and the Trump factor Africa's campaign to boost regional payments systems has found a platform at the Group of 20 major economies, with South Africa leading the charge as holder of the G20's rotating presidency. It held at least one session on boosting regional payments systems when South Africa hosted a meeting of G20 finance ministers and central bank governors. And South Africa wants it to follow up the talk with concrete actions. The next meeting of G20 finance officials is scheduled for mid-July. 'Some of the most expensive corridors for cross-border payments are actually found on the African continent,' Lesetja Kganyago, South Africa's central bank governor, told Reuters during a G20 meeting in Cape Town in February. 'For us to function as a continent, it's important that we start trading and settling in our own currencies.' Talk of moving away from the dollar — either for trade or as a reserve currency — has drawn aggressive reactions from President Trump, however. After Brics — a grouping of nations including Russia, China, India and Brazil along with Africans like South Africa, Egypt and Ethiopia — weighed reducing dollar dependence and creating a common currency, Trump responded with threats of 100 per cent tariffs. 'There is no chance that Brics will replace the US Dollar in International Trade, or anywhere else, and any Country that tries should say hello to Tariffs, and goodbye to America!,' he wrote on Truth Social in January. In the months since, Trump has demonstrated his willingness to use tariffs to pressure and punish allies and foes alike, a strategy that has upended global trade and geopolitics. No matter its intentions in moving to more local currency transactions, Syracuse University's McDowell said Africa will struggle to distance itself from more politically motivated de-dollarisation efforts, like those led by China and Russia. 'The perception is likely to be that this is about geopolitics,' he said. — Reuters
Malay Mail
2 days ago
- Malay Mail
Labubu maker Pop Mart's shares slide after China state media calls for stricter oversight of blind-box craze
HONG KONG, June 20 — Shares in Pop Mart International Group tumbled in Hong Kong trading after a Chinese state media commentary reignited regulatory concerns over the booming blind-box toy sector, triggering a sell-off in the toymaker's stock and related counters. The Beijing-based company, famed for its wildly popular Labubu dolls, saw its shares drop as much as 6.6 per cent yesterday, adding to a 5.3 per cent slide the day before. The losses came after People's Daily, the official newspaper of the Chinese Communist Party, ran a commentary urging tighter regulation of 'blind cards' and 'mystery boxes'. While the article did not name Pop Mart directly, it highlighted concerns that such products could lead to addictive buying behaviour among minors. 'China should further refine regulations for 'blind cards' and 'mystery boxes' as some of the current business models easily induce minors to become addicted to purchasing these products,' the commentary said, citing legal experts. The remarks rattled investor confidence, putting the brakes — at least temporarily — on what has been one of the most dazzling rallies among Chinese consumer stocks this year. Pop Mart shares have still surged nearly 170 per cent in 2025, fuelled by a global pop-culture frenzy over its stylised vinyl figurines. 'The commentary has weighed on investor sentiment, flashing some overheating signs in the business,' said Steven Leung, executive director at UOB Kay Hian Hong Kong, to Bloomberg. 'Still, it's a mild reminder as it didn't come directly from a government official.' Pop Mart, valued at around US$40 billion (RM170.2 billion), sells many of its figurines in opaque packaging, with buyers only discovering which character they've purchased after opening the box. Prices start at about 69 yuan, but limited editions can fetch eye-watering sums. Last week, a human-sized Labubu figure sold at auction in Beijing for 1.08 million yuan, underscoring the dolls' transformation from novelty items to sought-after collectibles. According to Bloomberg, the broader sector also took a hit, with shares of rival Bloks Group down as much as 9.3 per cent. Meanwhile, trading card maker Kayou — which shelved its IPO in 2024 following similar scrutiny — has only recently revived its listing plans. The regulatory overhang is not new. In 2023, China banned the sale of blind boxes to children under eight, citing addiction risks. Such concerns have remained a recurring theme in investor discussions around the sector. Still, analysts told Bloombeg they remain largely bullish. Pop Mart remains the top performer on the MSCI China Index this year, buoyed by growing international appeal. Celebrities such as Rihanna and Blackpink's Lisa have been seen with the toys, lending the brand street cred abroad. Wall Street has responded by raising price targets, pointing to the expanding influence of Pop Mart's intellectual properties. Despite the recent sell-off, some investors remain optimistic that Beijing will tread carefully, mindful of the brand's global success. Policymakers have previously expressed support for homegrown consumer brands making a global splash — a category Pop Mart now firmly belongs to.
