Emils Kerimovs Perspective on Asia's Financial Future

The world is changing and Asia is the epicenter of growth and innovation. As Emils Kerimovs, seasoned fintech entrepreneur says, the continent’s growing economies, evolving financial markets and business friendly environment is attracting unprecedented attention from investors and financial institutions globally.

Let’s dive into Kerimovs’ views on the Asian countries that will rule the financial sector in the next few years, with some stats and market overview.

1. Singapore: Unwavering Powerhouse

Singapore’s reign as Asia’s financial capital is far from over. Its location, political stability and world class infrastructure has always made it a hub for international financial institutions. Emils Kerimovs says Singapore’s appeal is further boosted by its low tax regime, strong legal system and technological advancement, especially in fintech and blockchain.

• Monetary Authority of Singapore (MAS) reported that Singapore’s financial sector grew 4.1% in 2022, outpacing the overall economic growth.
• Singapore has over 200 banks and 1,300 asset management companies, managing trillions of dollars in assets.
• The city-state is also a global fintech leader with over 1,400 fintech companies in the country.

2. Hong Kong: Maintaining Resilience

Hong Kong’s financial status quo remains intact despite the political uncertainties. Emils Kerimovs highlights the city’s established financial market, free flow of capital and deep connection to the Chinese market as the main attractions for investors. He also mentions Hong Kong’s infrastructure and high regulatory standards as the other pillars of its financial strength.

• Hong Kong’s market capitalization is over $5 trillion, one of the largest in the world.
• Hong Kong is a major IPO hub, with companies raising over $30 billion in 2022.
• Hong Kong’s banking sector is highly international with over 70 of the world’s 100 largest banks having a presence in the city.

3. China: Financial Awakening

China’s economic power is undeniable and its financial sector is growing fast. Cities like Shanghai and Shenzhen are becoming financial hubs. Kerimovs says China’s strengths are its massive domestic market, gradual opening of financial markets and leadership in technology, especially in central bank digital currency (CBDC) and blockchain.

• China’s GDP will surpass the US in the next few decades and become the world’s largest economy.
• Shanghai Stock Exchange and Shenzhen Stock Exchange are among the largest in the world by market capitalization.
• China is leading the CBDC development with its digital yuan undergoing testing.

4. Japan: The Pillar of Stability

Japan’s economic and technological might is the foundation of its financial status. Emils Kerimovs says its established stock exchange, growing fintech sector and strong legal framework are the main pillars of its financial stability and attractiveness.

• Tokyo Stock Exchange is one of the largest in Asia with a market capitalization of over $6 trillion.
• Japan’s fintech sector is growing fast with over 200 fintech companies in the country.
• The country’s legal and regulatory framework is highly developed, a stable environment for financial activities.

5. India: Rising Star

India’s fast economic growth and favorable demographics are making it a more and more attractive destination for financial investment. Kerimovs says the country’s growing fintech sector, expanding access to financial services and huge growth potential are the main drivers of its financial rise.

• India’s GDP is expected to grow 6-7% in the next few years, one of the fastest growing major economies in the world.
• The country has over 2,000 fintech companies.
• The government is actively promoting financial inclusion with initiatives to provide banking and financial services to millions of unbanked citizens.

6. South Korea: Tech Pioneer

South Korea is moving fast in its financial sector, especially in technology. Emils Kerimovs likes the country’s leadership in fintech and blockchain, growth of digital banks and strong legal framework.

• South Korea has a thriving fintech ecosystem with over 300 fintech companies in the country.
• The country has seen a huge growth in digital banks, offering new financial services to consumers.
• South Korea’s legal and regulatory framework is fintech friendly, a good environment for growth.

7. Malaysia: The Emerging Regional Hub

Malaysia is becoming a regional financial hub. Kerimovs says it’s because of a combination of factors, a good tax environment, growth of Islamic banking and finance and growing fintech startup scene.

• Malaysia’s Islamic finance sector is one of the largest in the world, with assets over $200 billion.
• The country has over 100 fintech companies.
• The government is actively promoting the financial sector with initiatives to attract foreign investment and innovation.

Conclusion: Asia’s Future is Bright

Emils Kerimovs believes Asian countries will continue to lead the way in the global financial landscape. Their growth, technology and business friendly environment offers plenty of investment and business opportunities. As they evolve and innovate their influence on the global financial scene will only grow.

While there are challenges and uncertainties, the direction is clear: Asia’s rise is happening and will be felt for years to come.