A major conference highlighting the regional and global challenges facing the credit reporting industry will be held next month in Dubai, UAE.

The Saudi Credit Bureau (Simah), with the support of Al Etihad Credit Bureau, Qatar Credit Bureau and The Benefit Company of Bahrain, will host the ninth World Consumer Credit Reporting Conference to analyse the regional and global credit system.

The event will take place on October 20 and 21 at the Grand Hyatt Hotel, Dubai.

The implementation of a sound credit system is vital to reduce the vast number of bounced cheques issued in the region, according to Nabil Al-Mubarak, CEO of Simah.

The 2010 launch of Saudi Arabia’s Bouncing Cheque Registry System (BCRS) has reduced the value of bounced cheques from SR15 billion ($3.99 billion) in 2009 to SR3.8 billion ($1.01 billion) in 2012, he said.

The conference will open with a keynote speech by Dr Abdulrahman Al Hamidy, director general of the Arab Monetary Fund, who will discuss the short-term outlook for the world economy and its impact on credit and credit reporting.

Other topics will include cybersecurity, the progress of credit reporting infrastructure in the GCC and a discussion on the World Bank Credit Bureau Principles and their future impact by Tony Lythgoe, principal financial specialist and head, financial infrastructure at the International Finance Corporation.

Registration for delegates will open on October 19, followed by a private VIP dinner for attendees at The Armani Hotel. 

A dedicated exhibition will run alongside the conference, providing a platform for credit reporting organisations to showcase their work to peers and associates. – TradeArabia News Service