NBAD Group CEO, Alex Thursby, gives the opening address in the Abu Dhabi meeting where the UAE's largest corporates gather to discuss the evolving role of treasury management.
Abu Dhabi-UAE, 19 November 2014 - SWIFT has joined with the National Bank of Abu Dhabi (NBAD) to bring together some of the largest companies in the United Arab Emirates to look at the evolution of treasury management within corporates and the increasingly sophisticated technology needed to fulfil this demanding role.
The first forum will be held in Abu Dhabi on 19 November.
Alex Thursby, Group CEO of NBAD, who will open the first forum, says: "The Middle East region continues to grow and we see huge potential for its corporates to capitalise on their position in the growing economies and markets that stretch from West of Africa to East of Asia, the span that we call the West-East Corridor. NBAD is well positioned to support clients as they look to develop their treasury management operations in line with their growth."
Each event will comprise a series of presentations by NBAD and SWIFT alongside practical case studies from key corporate clients; these include Majid Al Futtaim, Etihad Airways and Emirates Global Aluminium.
Sido Bestani, Head of Middle East, North Africa and Turkey, SWIFT, says: "The corporate treasurer's role has evolved beyond straightforward cash management, to where they are increasingly expected to optimise liquidity and eliminate risk, for example. Technology and connectivity play a crucial role in helping to deliver these requirements."
Corporates are a growing part of the SWIFT community. In the MENA region, the number of corporates has risen by almost 20% in the last two years. SWIFT for Corporates offers benefits beyond connectivity, enabling corporates to streamline their processes, improve visibility of cash and increase security of communication. Many corporates joining SWIFT are looking to optimise working capital, improve their supply chain finance and adopt best practice with regard to treasury operations.
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,500 banking organisations, securities institutions and corporate customers in 215 countries and territories. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.
Randa Mazzawi or Mayssa Makhlouf
Tel: +971 4 3403006