Middle East & Africa International Finance Summit 2019

Nov 07 '19 | 08:00 AM (AST)

Event Information

The financial services ecosystem is entirely different to what it was a decade ago, with political upheavals, economic uncertainty and planning for numerous regulatory changes coming into effect in 2019. The Middle East and Africa (MEA) region is expected to see a gross domestic product growth of 2-3% in 2019, which is almost similar to that in the previous year. Oil continues to play a dominant role, however, the governments in the region have been trying to diversify their economies.

Financial institutions are facing increasingly fierce competition from both traditional and non-traditional players in terms of payments, supply chain, from risk mitigation to being compliant of local as well as international regulations. The global commercial banking, which is approximately the same size as the global oil and gas industry and three times the size of the global airlines market, is going through a major revolution as banking and technology collide.

The corporate-bank relationship in the region is being tested as customers move away from the concentration of services in one institution, towards provider-agnostic solutions. Supply chains in a multitude of sectors are expanding, creating more complex value chains. Developments like blockchain and the integrated use of advanced analytics and machine learning (AAML) are moving global transactions into the future. The banking community in the MEA region has to proactively form its own unique industry response to growing demands brought on by sweeping global banking reforms.

The Asian Banker’s Middle East and Africa International Finance Dialogue provides a platform to regulators, key decision makers from financial institutions, industry players and disruptors to discuss the latest trends, developments, challenges and best practices in the global financial industry.

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