Tue, Sep 20, 2016

Business, Banking & Finance
Kuwait event to discuss financial innovation, reform

Next week’s Euromoney Kuwait Conference will be held under the theme ‘Meeting the Challenge of Financial Innovation and Reform’.

Now in its eight edition, the event will be held on September 27 in Kuwait City.

It will be attended by 400 bankers, leading financiers and policy makers who will tackle key challenges facing the national, regional and global economy.  

The Ministry of Finance will address the conference and discuss Kuwait’s strategic response to the new global financial landscape. The financial community is paying close attention as Kuwait announces significant reforms to boost non-oil revenues and reduce public spending. 

The Ministry of Finance has announced plans to issue up to $10 billion in US-denominated bonds from international markets and up to $6.6 billion from the domestic market, generating increased international interest. 

The opening session of the conference will feature keynote speeches delivered by Dr Mohammad Yousef Al-Hashel, Governor of the Central Bank of Kuwait; Dr Nayef Al-Hajraf, Chairman of the Capital Markets Authority; and Sheikh Dr Meshaal Jaber Al Sabah, Director-General of the Kuwait Direct Investment Promotion Authority, who will address themes including innovation, reform and financial stability.

Participants will hear first-hand from policy makers, bank chairmen, investors, international analysts and commentators, who will examine Kuwait’s macro-economic outlook, fiscal and monetary policies, economic diversification strategies, energy prices and the changing role of the public sector. 

Delegates will also hear from Omar Alghanim of Gulf Bank and Alghanim Industries, Majed Essa Al-Ajeel of KBA and Burgan Bank, Adel Abdul Wahab Al-Majed of Boubyan Bank and Manaf Alhajeri of Kuwait Financial Centre (Markaz). 

These leading financial figures will discuss banking sector strategies, share their success stories and discuss the opportunities and challenges they face. 

Sheila Patel, CEO, International Goldman Sachs Asset Management, is one of the global banking figures set to take part. She has emerged as one of the investment bank’s most public figures when it comes to discussing the global economy and was named to Fortune Magazine’s Most Powerful Women in Asia in 2015. 

The event will also feature a live interview with Khaled Al Khaled, Vice-Chairman and CEO of Boursa Kuwait Securities Company (BKSC). Since Boursa Kuwait assumed responsibility for management of the Kuwait Stock Exchange in April 2016, Al Khaled has spearheaded the transition of one of Kuwait’s primary governmental institutions, into an independent private company.

“We look forward to our return to Kuwait City for our 8th annual Euromoney Kuwait Conference,” said Victoria Behn, Euromoney Conference’s head of Middle East and Africa. “Our focus this year will be on innovation and reform. We will look at how the public and private sector must take bold steps to work together on the country’s reform agenda and examine what has been done so far and what more needs to be done.”

The conference will also examine Kuwait’s digital ecosystem and review how innovation and digitalisation are crucial for the future of Kuwaiti business and finance. Panellists will discuss the next generation of financial services, financial inclusion, e-government, regulation, security and consider new initiatives, incentives and the role of SMEs in localised innovation and the changing role of the state.

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