Banking Sector contributes to development of economy: ABK

Euromoney Conference 2016

Euromoney Conference 2016

KUWAIT: Al-Ahli Bank of Kuwait (ABK) announced yesterday the successful conclusion of its participation in the 8th Annual Euromoney Kuwait Conference as co-sponsor, which was held on 27 September 2016 at the JW Marriott Hotel in Kuwait.

The theme of this year’s conference was “Meeting the Challenge of Financial Innovation and Reform” and it addressed the challenges and opportunities facing the Kuwaiti economy in an era of global uncertainties. The opening session of the conference featured keynote speakers Dr Mohammad Yousef Al-Hashel, Governor of the Central Bank of Kuwait, and on behalf of Dr Nayef Al-Hajraf, Chairman of the Capital Markets Authority Muthanna Al-Saleh, Head of Markets Sector, and Sheikh Dr Meshaal Jaber Al-Sabah, Director-General of the Kuwait Direct Investment Promotion Authority, who addressed themes including innovation, reform and financial stability.

ABK’s CEO, Michel Accad participated in the Macro-Economic Outlook, Financial Sector Outlook and Reform panel discussion, where he stressed the importance of creating job opportunities in the Private Sector considering the current economic situation in Kuwait and across the region. Accad underlined the need to act on both government revenue and expenditure to address the challenge of prolonged depressed oil prices. He also emphasized the pivotal role played by the banking sector in contributing to the development of the economy through strategic investments that create more opportunities not only for the company itself but for the country as a whole.

ABK also showcased its products with a dedicated booth at the event. During 2016 ABK won the Euromoney Best Bank Transformation Award for initiatives undertaken through the year including the acquisition of Piraeus Bank in Egypt and the implementation of the Bank’s strategy on ‘Simpler Banking’.

Euromoney is the world’s leading organizer of conferences for cross-border investment and capital markets for portfolio and direct investors, financial intermediaries, corporations, governments, banks and financial institutions. Since the late 1970s, Euromoney Conferences has run events in more than 60 countries.

This article was published on 28/09/2016