Template-Type: ReDIF-Article 1.0

Author-Name: Janos Muller
Author-Workplace-Name: AFCA, Hungarian Banking Association
Author-Email: mullerj1@t-online.hu
Author-Person:

Author-Name: Reka Hamori
Author-Workplace-Name: Hungarian Banking Association, AFCA
Author-Email: hamori.reka@bankszovetseg.hu
Author-Person:

Title: Role, Challenges and Network of International Financial Centres in a Changing World Order

Abstract: In a world order burdened by geopolitical tensions, sanctions and tariff restrictions,
the global and regional network of international financial centres plays a key role in
supporting the functioning of the international financial system, global capital flows,
technological transformation, regulation and in maintaining international economic
integration. These global and regional centres constitute one of the fundamental
infrastructures of the world economy. Geopolitical tensions, competition between
power blocs and wars have a dual effect on their functioning: they temporarily
weaken their positions whilst also prompting them to respond to the challenges. In
the context of global geopolitical developments, competing economic power blocs
generate competition among financial centres, enhancing service efficiency while
also creating a need for cooperation to maintain financial stability.

Classification-JEL: G15, F30, F33, G28
Keywords: importance, ranking, and types of international financial centres (IFCs), their international network
Pages: 79-106
Volume: 25
Issue: 3
Year: 2026
File-URL: https://hitelintezetiszemle.mnb.hu/sw/static/file/fer-25-3-e1-muller-hamori.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:25:y:2026:i:3:p:79-106