Summit to discuss capital flow across borders
Manama, January 27, 2014
Leading financial experts from across the globe will be in Bahrain this March to discuss the role that financial services can play in regional development at the ''Euromoney GCC Financial Forum'.
Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa will deliver the keynote opening address at the flagship Euromoney Bahrain event, reported the Gulf Daily News, our sister publication.
Run in partnership with the Economic Development Board (EDB), the third consecutive edition of the conference, has an expanded focus, the report added. It is scheduled to be held on March 4 and 5 at the Ritz-Carlton, Bahrain Hotel and Spa.
The new agenda will emphasise on capital flow across borders in the GCC and the wider region, said the event organisers.
The conference will also provide a platform for discussion on the lack of regional banks in the true sense of the word, and why there appear to be many financial 'centres' in the region.
It allows participants to discuss and analyse the role of regional capital markets, what form they should take, and whether they should exist.
The focus of the sessions will be on Bahrain - looking at key sectors in the kingdom which have relevance for the wider region, such as, real estate, housing, small and medium enterprises (SMEs), and hydrocarbons.
"This year's event is set to attract a high level audience from the region, with top business heads and government officials keen to discuss and debate the future direction of the region's financial services," Euromoney Conferences director of emerging markets Richard Banks said.
Transportation Minister and EDB acting chief executive Kamal Ahmed said the conference was an important platform that brought together key regional, local and international figures.
"Bahrain's economy continued to outpace average global growth last year thanks to its solid economic fundamentals," he said.
"Headline GDP growth is projected to have come in at close to 5 per cent, above all driven by substantial gains in the oil and gas sector.
"Overall, the GCC economies are expecting growth to accelerate to 4.4 per cent this year. Today, the GCC economies are worth $1.5 trillion and are expected to reach $2 trillion by 2020," he added.-TradeArabia News Service