Gulf Debt Market Summit Highlights Importance of Financial Technology
- Gulf Bond and Sukuk Association Debt Capital Market Summit shows market is applying latest technological innovations to aid transparency and reach new investors
- Regional authorities are adopting new tools and adapting regulations
DUBAI, November 4, 2018 – Gulf market regulators underscored that they are adapting to new opportunities and challenges offered by technology and financial innovation.
The assurances came as The Gulf Bond and Sukuk Association (GBSA) Summit the trade association which represents the Arabian Gulf fixed income market, gathered industry leaders and government officials at its Regional Debt Capital Market Summit in Dubai. The meeting was held on the heels of new UAE laws on Public Debt, as well as on Central Bank and regulation of financial institutions.
GBSA’s Summit, held last Monday, was attended by 200 executives from leading companies, international and regional investors, market participants and senior government officials and market regulators from Bahrain, Oman, Saudi Arabia and the United Arab Emirates.
A panel of senior regulators discussed how tech tools can be applied to regulation and supervision and the prospects for introduction of new fintech based related financial products. A panel of market participants tackled innovations that support more accurate pricing, measurement of liquidity, and enhance disclosure.
Andy Cairns, Group Head of Corporate Finance, First Abu Dhabi Bank and Chairman of the GBSA Regional Board of Directors, commented:
“GBSA is honored to be helping shape the agenda for regional fixed income. It is essential that all capital markets participants, be they issuers, investors, intermediaries or regulators, are abreast of the impacts of technological innovation.”
Faisal Sarkhou, Chief Executive Officer, KAMCO Investment Company, said:
“As one of the leading debt capital market book runners and investment companies in the local and regional market, we strongly feel the necessity to partner and participate in such conferences, as part of our efforts to develop the overall ecosystem for fixed income investing in the region. In the wake of a new era for the region, our goal has always been to educate the investment community through conferences such as these, to bring expert views, opinions and panel discussions on investment opportunities prevalent in the market.”
Lively panel discussions and presentations covered the opportunities and ongoing transformations based on technological innovations, recent and future regulatory re-alignments, regional macro environment and funding picture, global and emerging bond market trends, role of market indices, and current issues in the sukuk market.
The event was made possible by Platinum Sponsors Fitch Ratings and KAMCO Investment Company, and Gold Sponsors Dentons, First Abu Dhabi Bank, Janus Henderson Investors, Natixis, and S&P Global Ratings. Kuwait International Bank sponsored a gala VIP reception the evening before the conference.
NOTE FOR EDITORS:
The Gulf Bond and Sukuk Association
The Gulf Bond and Sukuk Association (GBSA) is the regional trade association representing the Arabian Gulf bond and sukuk market. GBSA’s initiatives bring together leaders of the regional credit markets to create a collective and effective voice on the key issues affecting the industry. Member firms are leading banks, investment banks, issuers, investors, asset managers, law firms, rating agencies and service providers.
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