Wednesday, Jun 22, 2011
Gulf News
Dubai Shaikh Ahmad Bin Saeed Al Maktoum, Chairman of the Dubai Supreme Fiscal Committee, yesterday announced that Dubai will host Sibos (Swift International Banking Operations Seminar), a premier international banking and financial services seminar, in 2013.
Sibos Dubai will be held in September 2013, the first time the event has been held in the Middle East.
“By holding this high-profile event Dubai will host world leaders in the banking and financial services industry.
“While it will be a great opportunity for the financial services sector in the region to interact with global players, it will also be an opportunity for the international banking community to get first hand knowledge of Dubai and the UAE,” said Shaikh Ahmad.
Commenting on the state of Dubai’s economy Shaikh Ahmad said all the core sectors such as trade, tourism, travel and hospitality are doing very well.
“The hotels are full and the visitor inflows have been growing in recent months,” he said.
Speaking to reporters on the sidelines of the conference Ahmad Humaid Al Tayer, Governor of the DIFC, said the banking sector in the country has returned to healthy growth. Commenting on the general fear expressed by bankers and analysts that the new retail banking regulations would adversely impact the profitability of the banks, Al Tayer said such fears are exaggerated.
Direct impact
Welcoming the Sibos to Dubai, Al Tayer said the conference will have a strong, direct, positive impact on Dubai’s economy in terms of the thousands of delegates who will attend the event and indirectly it will be a great networking opportunity for the financial services community in the city.
Lazaro Campos, CEO of Swift, the company responsible for organising the event, said he expects the Dubai event to be much larger compared to the previous editions as it iwill be held in the region for the first time.
“We chose Dubai as the location for Sibos 2013 in response to its burgeoning financial sector and ever increasing knowledge based economy,” said Campos. Last year Sibos was held in Amsterdam.
Hilal Saeed Al Merri, CEO of the World Trade Centre, said the direct benefits of the conference to the UAE economy could be in the range of $100 to $150 million.
Hamad Bu Amim, Director General of the Dubai Chamber of Commerce and Industry, said the event will be a big boost to Dubai as a regional financial centre.
“Organising this event comes at the right time as the sector continues to see growth and will help seal Dubai’s rank among other global financial centres.
By Babu Das Augustine?Deputy Business Editor
Gulf News 2011. All rights reserved.
