Riyadh, Saudi Arabia: The Kingdom of Saudi Arabia is foreseeing a massive growth in its economy where the government has a vision to aid the largest ever budget with a total expenditure of SR1.1 trillion. Highlighting the trade potential and the substantial economic growth in the kingdom, the 7th Annual Saudi Trade Finance Summit 2019 kicked off at Crowne Plaza Riyadh RDC Hotel & Convention, Riyadh. The Summit is supported by the Human Resources Development Fund (HRDF) and Small & Medium Enterprises General Authority SMEA (Monsha’at); Hosted under the theme of “Enabling the Kingdom’s vision for a better future”, the 7th Annual Saudi Trade Finance Summit aims to bring together the most influential trade associates along with key stakeholders and CFOs, heads of treasury & finance as well as leading banks and financial institutions under one roof to strike thought-provoking conversations with respect to financial regulations, strategies, and trends that will shape the Kingdom’s economy.
The Saudi Trade Finance Summit has been the biggest and the only platform that has constantly addressed key challenges and trends that shape the Saudi Arabian economy & the trade finance industry in particular. The Summit featured speakers from top conglomerates and authorities like Ministry of Economy & Planning, Capital Market Authority, SAGIA, Saudi Fund for Development, Rawabi Holding, BinDawood & Danube, National Housing Company, Saudi Arabia Aminatit, Al Hamrani Fuchs, Unified Real Estate, Fawaz Al Hokair, GE Healthcare Saudi Arabia as well as from leading banks and financial institutions such as Saudi Credit Bureau (SIMAH), Banque Saudi Fransi, Gulf International Bank, Saudi British Bank (SABB), Emirates NBD, First Abu Dhabi Bank, American Express & Saudi Industrial Development Fund to name a few, will share interesting industry insights and dynamically changing trends in the trade-finance sector.
Swaied AlZahrani, CEO, Saudi Credit Bureau highlighted the importance of trade repositories in acquiring an accurate picture of risk concentrations in the global financial system and how they can be used as an effective tool for mitigating the inherent opacity of OTC derivatives markets followed by another session by Ravishanker Visvanathan, Chief Risk Officer of Banque Saudi Fransi spoke about a risk management architecture and risk appetite framework’s overall approach, including policies, processes, controls, and systems through which risk appetite is established, communicated, and monitored. Syed Hassan, Head of Trade Finance, Gulf International Bank, shared an in-depth analysis of ways that Supply chain finance can be used to unlock the potential of SMEs, to unlock financial benefit for buyers through Interest Arbitrage, receivables finance, dynamic discounting & much more. Some of the other key discussions during the day one of the Summit included stringent regulatory requirements and the adverse effects of the facilitation performance, the required infrastructure for trade & much more. The Saudi Fund for Development highlighted the key trends and the future of trade finance that will shape the economy of KSA in 2020.
The day 2 of the summit will hold power-packed discussions of diverse trade finance trends including the keynote presentation by the Ministry of Economy and Planning where the policy priorities and diversification of the economy will be addressed widely. Other topics of discussion include financial literacy in the Saudi Arabian market and the role of SIMAH and how Monsha’at initiates SME financing along with raising awareness on these crucial subjects.
In conjunction with this prestigious conference, the Saudi Trade Finance Awards 2019 will honor the most influential corporates and trade-finance members who have contributed towards the country’s key strategies and implementation with respect to the Saudi Vision 2030. This will be taking place on 14th November 2019. The one-of-its-kind Saudi CFO Awards ceremony aims to recognize the key roles of CFOs in building a sound business and implementing innovative strategies and initiatives. On the other hand, the Saudi Bank Awards recognizes the momentous innovation, success and vision among the best banking organizations based in the Kingdom.
Commenting on the overall event planning and execution, Sidh N.C, Director, Saudi Trade Finance Summit says “The Saudi Trade Finance Summit is the only conference in the Kingdom that exclusively addresses the trends, success stories, challenges and solutions in the trade finance industry. Also with Saudi Vision 2030 fast approaching, it is necessary to bring the industry closer and discuss the latest innovations for every organization to contribute successfully.”
Organiser: About QnA International
QnA International creates and delivers business learning and development exchange platforms through B2B conferences, bespoke events and trainings. The company also has an expertise in outsourced sponsorship sales and key account management. www.qnainternational.com
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