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QnA International hosts 4th annual Saudi Trade Finance Summit in Jeddah
Jeddah, 27thJune, 2016 –The upcoming 4thAnnual Saudi Trade Finance (STF) Summit, organized by Dubai based QnA International has cemented its position as the premier gathering to discuss financial regulations, strategies and services development and trends shaping the economy and the business landscape in the Kingdom. The STF Summit is gearing up to be held in Jeddah, Saudi Arabia in November 2016. Previously, The STF Summit was held in Riyadh for three consecutive years.
A by-invite only exclusive event continues to feature key stakeholders including: government and regulatory authorities, financial institutions, technology providers, trade credit insurers, consulting and advisory firms along with finance professionals from mid and large enterprises. The platform is set to focus on enabling opportunities in the diversification of non-oil based economic development and services that will fuel growth in line with Vision 2030 for creating a thriving economy.
Banque Saudi Fransi, a platinum sponsor at the 2015 edition of the STF Summit has yet again confirmed its platinum sponsorship for the upcoming edition in November. Speaking on the importance of the Summit and the reasons for sponsorship, Mr. Anjum Noman Mirza, Head—Trade Finance Sales and Solutions Department, Corporate Banking Group, Banque Saudi Fransi, said, “Saudi Arabia is a large global trading partner, and the trade business is a dominant contributor to the country’s GDP. However, as global trade and markets evolve continuously, appropriate trade related solutions catered to clients through new concepts, products, and solutions need to be provided. But, the knowledge of these new methods is lacking in Saudi Arabia and the Middle East region. Our platinum sponsorship of the STF Summit is guided by our desire to help in the dissemination of knowledge.’’
Trade is an integral part of economies and businesses around the world and trade finance is an important tool for the smooth flow of international trade. “Trade finance provides the best medium and tool for businesses to venture into new markets. By using banks to provide the trade finance products and services to mitigate various risks associated with their new ventures, organizations can tap into new and diverse markets. In today’s world the quick cross-border trade solutions are a necessity. Trade finance conferences such as the STF Summit can increase awareness of the latest developments in this important field,’’ emphasized Mr. Mirza.
Over the years, the STF Summit has created a firm reputation and strong foothold as Saudi Arabia’s premier and only trade finance gathering, making it a flagship event for the top 150 CFOs and other decision makers involved in trade finance from different industries in Saudi Arabia. At the Summit in November, there will be a shift in focus as the organizers move towards a platform of exchanging ideas on market trends, current situations and disruptions in trade finance transactions.
Explaining the need for focusing on trade finance in this manner, Sidh N.C, Director, QnA International, said, “Now that the Summit is in its fourth year, it has become a regular and well-attended event for those in trade finance. In the context of the global economy and forecasts for trade in the future. It is
prudent for us to discuss the current outlook and emphasise on the diversification of the economy and the role of financial institutions in the Kingdom’s vision to achieve sustainable growth.” He further reaffirmed that “The platform will focus on how to implement and execute the ideation created from the summit.”
While echoing these sentiments, Mr. Mirza added, “Trade remains the core medium of business. Liquidity for corporates as well as lending institutions will be a major player in the economic conditions in 2016. The government’s effort to raise liquidity will be a key factor for the sustainability of its various development endeavours.” In general, there exists a liquidity gap in the region, which has hindered the progress of various businesses but especially SMEs.
“Trade Finance is one of the best solutions for raising working capital. It has also become the first choice for financial institutions during economic downturns as most trade transactions ascertain short term maturities offering better liquidity management, are self-liquidating in nature, carry lower risk for the lender, and helps clients focus on their core business,” continued Mr. Mirza on the effects of trade finance for business operations.
The STF Summit will bring together experts and decision makers ranging from C-level executives to senior professionals from finance departments across industries over a two-day period. The STF Summit will be held from 15-16 November 2016 in Jeddah, Saudi Arabia.
ENDS
About 4thAnnual Saudi Trade Finance Summit
The Saudi Trade Finance Summit is a powerful initiative designed to bring together the key stakeholders involved in redefining the trade finance function, from government and regulatory authorities who can bring about the essential transformation, to crucial financial institutions like banks, insurance companies, ECA’s, risk assessment firms to legal and technological consultants and most importantly the CFO’s, Finance Directors, Treasury Heads and Heads of Finance of the biggest conglomerates, holding companies, organizations, and SME’s in Saudi Arabia.
It will bring together senior level finance professionals from across the GCC and beyond to discuss the top challenges and derive concrete solutions for some of the most crucial issues facing their roles today.
This by-invitation only exclusive summit aims at giving each and every attendee an opportunity to remain up-to-date with the new breakthroughs and market trends, and to develop a pragmatic approach to achieve expectations for future expansion, challenges, growth.
About Banqu Saudi Fransi
Banque Saudi Fransi is a full service commercial bank serving the local and international banking needs of its clients. It is a leading provider of comprehensive financial services and products in the Kingdom of Saudi Arabia and other markets.
Profits:
Banque Saudi Fransi has announced its financial results for the full year 2015 recording a net income of SAR 4,036 Million. The earnings per share establish at SAR 3.35 for the full year 2015.
Awards:
BSF won four prestigious awards from the “The Banker Middle East” CPI Financial, the top publication in the financial and banking sector in the region. This is part of the magazine’s annual contest where BSF won the Best Corporate Bank KSA for 2016, Most Improved Retail Bank for 2016, Best Online Banking Services and Best Customer Service – Corporate Banking for the same year. These awards served as a recognition of the bank’s achievements and outstanding efforts in better serving the corporate sector clients and providing the best banking services in the Middle East.
Organiser: About QnA International
QnA International creates and delivers business learning and development exchange platforms through B2B conferences, bespoke events and trainings. The company also has an expertise in outsourced sponsorship sales and key account management. www.qnainternational.com
