Middle East ‘first’ as Sibos chooses Dubai

Sibos, the world’s most influential financial services event, is for the first time ever to be held in the Middle East. The host will be Dubai, which will be putting its World Trade Centre at the organisation’s disposal in September 2013. For more than three decades the Society for Worldwide Interbank Financial Telecommunication (SWIFT) has organised Sibos, which is recognised as the industry’s premier gathering of financial strategists and service providers. Làzaro Campos, CEO of SWIFT, said, “We chose Dubai as the location for Sibos 2013 in response to its burgeoning financial sector and everincreasing knowledge-based economy. SWIFT opened its Dubai office five years ago to cater to the growing finance and banking industry and we see great commercial potential in this market.” A number of leading figures in Dubai described the Sibos decision as “a coup for the emirate and an endorsement of its global financial presence”. Ahmad Al Tayer, governor of DIFC, said, “For Sibos 2013 to select the Middle East as its destination for the first time is a credit to the region’s on-going commitment to the financial services sector. For Dubai, it is a testament to its importance within the region and on the global stage as a hub for business. Transparency, best practice, innovation and highly developed investment strategies have placed Dubai as one of the premier banking markets and the arrival of Sibos will lend even further weight to this progress.” Hamad Buamim, director general of Dubai Chamber of Commerce and Industry, said, “We wholeheartedly welcome and support the Sibos Dubai conference, which is testament to our city’s pioneering status as the Middle East’s leading financial hub. As a pillar of the economy, Dubai’s financial sector is robust and has shown strength during the past period, due in part to its competitiveness, being made up of local, Islamic and international banking institutions. Organising this prestigious conference comes at the right time as the sector continues to see growth and will help seal Dubai’s rank among other global financial capitals.” Sibos organiser SWIFT is a memberowned co-operative that provides the communications platform, products and services to connect more than 9,500 banking organisations, securities institutions and corporate customers in 209 countries.