The Association of Corporate Treasurers (ACT) held their renowned talkingtreasury thought leadership forum in Dubai on Sunday sponsored by HSBC MENA, attracting over 70 treasurers and senior executives to discuss a number of themes and trends affecting the industry today. Many of the discussions centered on the positive steps the industry has taken post-crisis, and the critical role that the function plays in the Middle Eastern corporation.
With speakers and attendees from multinationals, large local corporates and family groups, government and regulators, the topics covered industry trends, practical case studies and positive steps that regional treasurers can take to grow their business.
Natasha Patel, Head of Payments and Cash Management at HSBC MENA, hosted the 'Best Practice' Panel on implementing treasury software. "The panel represented all types of industry active in the Middle East," she commented, "resulting in a wide ranging discussion of real life experiences and findings that, whilst very different, resulted in one key finding. The role of technology to the Treasury function continues to increase in importance, especially in this region. As we heard, post-crisis this trend has become even more apparent, as companies look to increase transparency and accountability across their organizations."
Stuart Siddall, ACT Chief Executive said 'This is our fifth talkingtreasury in the Middle East and we are delighted to have the support from HSBC so that we can further develop our treasury networking community and champion treasury best practice in the region.'
ACT will continue to hold a number of further treasury events around the region to build on the ever growing ACT Middle East network. ACT Middle East runs a schedule of treasury related events each year around the region as well as providing tuition for its treasury qualifications in international treasury management and cash management to further support the treasurer's role.
Patel concluded, "The role of the treasurer has significantly grown in width and depth over the last decade. Everything from risk management to greater control over working capital, through minimizing costs and automating processes, comes under his purview. Centralization, cost consciousness and the need to get information quickly and more efficiently, creates the need for technology to support all his needs. Discussions at forums such as this allow treasurers to follow global trends and tailor best practices to their own precise requirements. We have been delighted to sponsor today's ACT event and look forward to working closely with them again around the region."
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HSBC in the Middle East
HSBC is the largest and most widely represented international bank in the Middle East. HSBC Bank Middle East Limited has 53 branches throughout the United Arab Emirates, Oman, Bahrain, Qatar, Kuwait, Jordan, Lebanon, Pakistan, Algeria and the Palestinian Autonomous Area. In addition to the branch network HSBC maintains a representative office in Tripoli, Libya. This extensive regional coverage is strengthened by HSBC Bank Egypt SAE; HSBC Saudi Arabia Limited; SABB Securities Limited; SABB Takaful Co.; and Dar Es Saalam Investment Bank.
About the ACT
The Association of Corporate Treasurers (ACT) is the leading professional body for international treasury providing the widest scope of benchmark qualifications for those working in treasury, risk and corporate finance.
ACT provides a wide range of professional development and networking opportunities centred around:
- professional qualifications and training courses
- conferences, briefings and thought-leadership events
- publications, technical updates, guidance and dialogue.
ACT Middle East is the network for treasury, risk and finance professionals committed to the development and sharing of treasury knowledge and expertise across the Middle East. Established in 2008 with support from co-founding sponsors Emirates NBD and HSBC, it provides networking opportunities for those working in or interfacing with treasury, enabling them to come together to discuss best practice and providing continuous professional development through treasury training and professional qualifications.
The network now extends to over 1,600 senior professionals across the GCC, with many having enrolled to study the ACT's benchmark international treasury and cash management qualifications.
Media enquiries:Aimee Peters, Corporate Communications - HSBC MENA - Commercial Bank aimeepeters@hsbc.com +971 4 423 5608
© Press Release 2011
