IfBEX 2006, the region’s first International Finance and Banking Exhibition, will be held at the Dubai International Convention and Exhibition Centre from April 24th to 26th 2006, under the patronage of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defence Minister and President DIFC.
IfBEX 2006 is being jointly organized, as part of the International Finance Week 2006, by Mediac Communications and Exhibitions and The DOMUS GROUP, in official partnership with Dubai International Financial Centre (DIFC). The exhibition is also being supported by the UAE Central Bank, UAE Securities and Commodities Authority and Emirates Institute for Banking and Financial Studies. The event will bring together a broad range of exhibitors from the financial services industry, including banks, financial institutions, asset managers, consultants, corporate and Islamic finance specialists, government agencies, credit card companies, export credit agencies, rating agencies, regulators, exchange brokers and insurance and re-insurance companies to a consolidated platform, facilitating the development of business networks.
Abdullah Abulhoul, Managing Director, Mediac Communications and Exhibitions, said, “IfBEX 2006 offers exhibitors a powerful platform to network with industry professionals, improve customer relations, demonstrate latest services and mutually exchange best practices. The show will empower organizations to better identify market requirements and target buyers in new growth markets.”
“The banking and finance sector in the region has reported steady growth over the last few years. Market capitalization in the GCC has leapt to US$ 522.8 billion in 2004 from US$ 120 billion in 2000. We are witnessing a consolidation of growth through a combination of ample liquidity in the banking sector, expansionary government budgets, low interest rates and high oil prices. Against this background, there is a pressing need for a wide-ranging platform that brings together the entire banking and finance industry spectrum, allowing exhibitors to maximize the benefits from the current positive market scenario. It is this platform that IfBEX seeks to provide the region’s finance and banking sector,” added Abulhoul.
“IfBEX 2006 provides an opportunity for senior executives, professionals and ancillary service providers from across the finance and banking industries to establish and reinforce critical business relationships. The ultimate objective of the exhibition and conference is to create a medium for international and regional financial institutions to interact.” said Dr. Omar bin Sulaiman, Director General of DIFC Authority.
The banking, financial services, investment and insurance sectors have benefited from strong economic growth coupled with major infrastructural enhancements in recent years, propelling development and allowing competitiveness in international markets.
“The economic outlook has broadened throughout the region, and financial markets are expected to continue with their upward inclinations based on current market indicators. In a dynamic region with rapidly evolving markets, IfBEX is the perfect platform for various concerns to position business, develop relationships, launch new products and build market share,” Abulhoul said.
Focused industry exhibitions are widely acknowledged as an effective means of business development due to the high return on investment, not only in terms of tangible business dollars but also intangible benefits such as increased profile and superior networking capabilities. A recently conducted multi-industry survey has revealed that a typical 9 per cent marketing budget spent on exhibitions results in 23 per cent of gross sales being conducted at those exhibitions.
Stephen Walsh, Exhibitions Director, The DOMUS GROUP, said, “Dubai is the ideal venue for IfBEX due to its strategic importance as business and trading epicenter, and gateway to a market in excess of 2.1 billion individuals. Moreover, the emirate’s range of world-class hotels and excellent infrastructure make it a hotspot for liaisoning and relationship-building.”
IfBEX 2006 is one among a series of major events to be held as part of the International Finance Week 2006. The other events include Banker Middle East Conference, Islamic Finance Conference, Islamic Banking Conference, Banker Middle East Gala Dinner and Awards, INSUREX International Insurance Conference, and INSUREX Gala Dinner and Awards.
