The International Monetary Fund (IMF) has chosen the 1st GCC Capital Market Forum to unveil its latest study on UAE share prices. The Forum will be held at the Al Bustan Rotana Hotel in Dubai on 14th and 15th March 2006 and the IMF study will be kept confidential till then.
The 1st GCC Capital Market Forum will be held under the patronage of HH Sheikh Hamdan Bin Rashid Al Maktoum, UAE Minister of Finance and Industry and Deputy Ruler of Dubai. It is being organised by the Saudi Law Training Centre (SLTC) with the support of the DIFC and CNBC Arabia.
The study entitled, “Myths Vs Realities: Stock Price Bubbles in the UAE”, will be presented by the Washington based Mohammed Omran of the Middle East and Central Asia Department of the IMF.
Omran will aim to provide policy recommendations to financial entities and business leaders in the region based on the analysis of the UAE stock markets. He will examine the signals and structural issues of UAE stock markets and speak about implications of stock price corrections on the UAE’s economic growth.
Majed Mohammed Garoub, Head of the SLTC, organiser of the Forum and speaker, said: “The 1st GCC Capital Market Forum is the ideal platform to unveil studies and analyses from global thought leaders about capital markets in the region. We welcome the IMF initiative to present their latest study of the region’s markets and hope that corporate and financial leaders will gain insights for formulating future policies.”
Some of the leading regional capital markets to be represented by their top executives at the forum include the DIFC, the DIFX, the Dubai Financial Market, the Abu Dhabi Stock Market, the Doha Stock Market, Kuwait Stock Exchange and the Cairo and Alexandria Stock Exchanges. Stock market regulators who will speak include Dr. Habib Al Mulla from the DFSA, Ismail Bin Ahmed Al Baloushi from Oman’s Capital Market Authority, Bassam Al Saket, Chairman of the Jordan Securities Commission and Abdul Aziz Al Zoum and Najm Abdallah Al Zeid from the Saudi Capital Market Authority.
Dr. Omar Bin Sulaiman, Director General of the DIFCA will present the keynote address at the forum.
Other notable speakers at the forum include Sheikha Haya Al Khalifa, Lawyer from Bahrain, Mohammed Al Muheiri from the DIFC, Faheema Al Bastaki, Licensing Manager, DFM, Ahmad Maarifi from Madar, Kuwait, Fahd Samari CEO, Amwalee, Mustafa Abd Al Wadoud, CEO, Hermes Group and Boutros Kanaan, Legal Manager, Central Bank of Lebanon.
Key topics to be discussed at the forum include legal and regulatory systems, registration and licensing, role of banks and intermediaries, dispute resolution and arbitration systems, the experiences of Arab capital markets and the impact of media on the stock markets.
Sponsors of the Forum include Emaar Properties and National Commercial Bank as Main Sponsors, Al Ahli Commercial Bank as Major Sponsor, Al Jazeera Bank, Amwalee Company, TradeNet Company as Diamond Sponsors, Al Madar as Gold Sponsor and the Majed Al Garoub Legal Firm as Silver Sponsor. Media sponsors include Al Hayat, Arab Media Publications, Al Iktisadiya, Al Jazeera, Al Morakeb Al Inmaai, Almajalla and Al Iktisad Al Dawli. CNBC Arabia is exclusive satellite sponsor and will provide live coverage through a specially built studio at the event.
In an effort to encourage educational institutions to participate in the forum, a discount of 50 per cent will be offered to academic staff at higher colleges in the UAE and they will be allowed to nominate one student per college to attend for free.
