Lack of Transparency Must be Addressed to Progress Middle East Financial Markets
Two leading financial analysts have highlighted the vital need for higher openness in the present Middle East economic environment, specifically because of the expanding importance of GCC Sovereign Wealth Funds.
Colin Ellis, Managing Director and Chief Credit Officer EMEA at Moody's Investors Service, and Rachel Pether, CFA Charterholder and a Senior Expert to the Sovereign Riches Fund Institute, have both allocated a lack of openness as one of the main concerns influencing the financial industry in the region today.
Speaking in advance of their panel conversation on sovereign wide range funds at the ICA Conference in Dubai, which runs from 22-25 November at the Sofitel The Palm, Colin Ellis claimed: "Greater transparency around development made and challenges faced until now, both great and less great information, in addition to adaptability from policymakers would boost investor self-confidence about the long-term outlook for the region."
The 4 day 42nd ICA Seminar and event is arranged by the UAE Financial Markets Association in cooperation with the International Cambist Organization (ICA) and strategic partner Emirates NBD. The meeting will certainly be ushered in by Mohammed Al Hashemi, Chairman of the UAE Financial Markets Organization and Tamer Khalifa, Chairman of the ICA.
Regulated by Claudia Maedler, Bureau Chief at Bloomberg Information, the session Prized Assets: the increasing importance of GCC Sovereign Wealth Funds will address the bigger role SWFs play in the economic and genuine economic climate and the knock-on ramifications. Joining Colin Ellis and Rachel Pether on the panel will certainly be Dr Celeste Cecilia Moles Lo Turco, Vice President Approach, Future Holding.
Ellis added: Transparency, investment strategies and the soft power effects from SWFs are all live issues. But the ultimate goals of these funds can be multi-faceted, which raises complex questions about prioritisation and independence.
Describing just what delegates can anticipate from the session, Rachel Pether said: "We will be talking about the significance of SWFs for regional advancement, their duty in the global financial markets and just how a changing macro-economic setting is influencing financial investment methods.
" Geopolitical risk remains a problem in the region, and a lack of transparency still works as an obstacle to international straight investment. Recent actions at government level, nevertheless, have actually revealed that bad governance will not be tolerated, and this has a substantial effect across the region."
Led by a key note presentation by Sir Peter Westmacott, British Ambassador to the USA from 2012 to 2016, the 42nd ICA Seminar includes an incomparable panel of experts from the region and all over the world, who will certainly talk under the theme Bracing for Change.
Other experts include Christopher Dembik, head macro expert at SAXO Bank; Huw Tablet, Chief European financial expert and co-head of the European Economics group at Global Financial investment Study; Jennifer Hansen, Executive Vice President and Head of Global Sales Strategy and Implementation at SAXO Markets; Joo Pedro Goncalves, Financial Economist, LSE UNDP; Carla Slim, Chief Economic Expert at Standard Chartered Bank; Michael Creed, Senior Manager, Policy and Approach, Dubai Financial Solutions Authority; Chelsea Rustrum, writer and publisher from San Francisco, among many others.
The 42nd ICA Conference is sustained by Strategic Partner Emirates NBD, Gold Sponsors FAB (Very First Abu Dhabi Bank), ICAP Middle East and Murex, Silver Sponsors ADIB and Tullett Freedom (Bahrain) and Bronze Enroller SAXO MARKETS. More details on signing up to attend is available on www.icaconference.com.
Inscriptions:
1. Colin Ellis: Greater transparency would bolster investor confidence
2. Rachel Pether, CFA Charterholder and former Chartered Treasurer at Mubadala Investment Company and a speaker at the upcoming ICA Conference in Dubai
