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Financial markets opportunities created by Arab Spring

Source : Zawya

51st ACI Financial Markets World Congress hosts global CEOs; discusses rise in Islamic banking practices and Euro Zone crisis


Dubai, UAE, 12 March 2012: The financial markets opportunities created by the Arab Spring movement throughout 2011 will be revealed by experts from major global financial institutions in a panel discussion on the opening day of the 51st ACI Financial Markets World Congress, to be hosted in Dubai for the first time.

Brad Bourland, Chief Economist and Head Prop Investments of Jadwa Investments will be joined by Farah Foustock, CEO, ING Investment Management and Said Hirsh, Middle East Economist of Capital Economics to spark lively debate and offer expert analysis on the state of the financial markets industry in the wake of one of the biggest revolutions the region has seen.

The panel discussion will take place immediately after Rick Pudner, CEO of Emirates NBD Bank, the largest banking institution in the UAE, delivers a keynote address to the delegates of the congress where he will present the current financial market scenario in the Middle East.

The afternoon keynote speech will come from one of the world’s most respected advisors in the financial markets industry. Professor Otmar Issing, President of the Centre for Financial Studies at Goethe University in Frankfurt and advisor to Goldman Sachs will discuss the ongoing Euro Zone crisis and its global implications.

Renowned for developing the ‘two pillar’ approach to monetary policy decision making that the European Central Bank has adopted, Professor Issing will shed light on how European policies were set in the past and how these now must be adapted going forward in order to survive the Euro Zone situation.

The congress will also offer new insight into Sukuk trading, the Islamic equivalent of bond issues, which has seen a surge in sales in recent months as issuers turn to Islamic finance for capital, offering companies a way to raise money after tight global credit conditions last year limited issuance from the region.

Rupesh Hindocha, Head of Credit Trading MEA at Standard Chartered Bank, Yaser Abushaban, Director of Asset Management at Emirates Investment Bank, Chavan Bhogaita, Head of Markets Strategy, National Bank of Abu Dhabi and Nick Stadmiller, Head of Fixed Income Research at EmiratesNBD will come together to discuss the intricacies of Sukuk trading at the congress.

Held under the patronage of His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, the congress takes place from 22 to 24 March 2012 at the Dubai International Financial Centre (DIFC). It is hosted by the UAE Financial Markets Association, established in December 2011 and an affiliation of the Association Cambiste Internationale (ACI), the global umbrella body of the national financial markets associations around the world.

ACI was founded in Paris in 1955 and now has more than 20,000 members in 80 countries, making it the largest international association in the wholesale financial markets industry. Now in its 51stedition, the ACI Financial Markets World Congress is hosted in major economic hubs around the world, most recently in Cape Town, Sydney and Budapest.

The decision to nominate Dubai as the host city in the wake of 2011’s Arab Spring is significant; one of the Middle East’s most respected markets for global banking and finance, Dubai is the gateway to the MENA region, facilitating a safe and well-connected trade network and an established centre for Islamic banking services.

Mohammed Al Hashemi, President of the UAE Financial Markets Association, said: “The event offers banking professionals from across the MENA region a chance to network, discuss and debate topical business challenges currently facing the finance market.”

The congress is supported by Official Banking Partner, EmiratesNBD, Gold Sponsor UBS, Silver Sponsor National Bank of Fujairah, Strategic Partner Dubai International Financial Centre (DIFC) and Official Media Partner, Bloomberg.

Other sponsors include 360t, 4CAST, ACI Indonesia, ADS Securities, BNP Paribas, Citi, Commerz Bank, Copp Clarke, DDCAP Ltd, Deal Hub, Deutsche Bank, DJ FX Trader, Gain GTX, ICA, ICAP, INTL FCStone, J.P. Morgan, Master Capital Group, MICEX-RTS Group, Saxo Bank, SEB, Standard Bank, Thomson Reuters and Wall Street.

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