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Gulf Financial Forum returns to Bahrain in its eighth edition DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Gulf Financial Forum returns to Bahrain in its eighth edition

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Gulf Financial Forum returns to Bahrain in its eighth edition Empty Gulf Financial Forum returns to Bahrain in its eighth edition

Post by claud39 on Wed Feb 27, 2019 8:22 am


Gulf Financial Forum returns to Bahrain in its eighth edition


Gulf Financial Forum returns to Bahrain in its eighth edition Rc_155125287526_23

Under the theme of "Re-inventing Financial Services", the GCC Financial Forum kicked off yesterday morning, and the forum sessions and events will continue until Wednesday evening at the Four Seasons Hotel in the Gulf of Bahrain. 
The Euromoney Forum, in cooperation with the Economic Development Board, brings together more than 800 participants and leaders in the finance sector from bankers, investors, asset managers, policymakers and decision makers in financial and banking institutions as well as academics from around the world. 
This year's edition saw the participation of world-class speakers, including Steve Wozniak, co-founder of Apple and a leading expert in financial technology.
In his inaugural address, Euromoney President David Pritchard welcomed the attendees, noting that the themes discussed in this year's conference are particularly relevant to the financial and banking sectors, especially those related to financial technology, which are already taking serious steps to re-invent financial services in general and confront Challenges that are not without digital transformation. Pritchard pointed out that the speakers and lively discussions at the forum will focus on the subject of financial technology and mechanisms of digital transformation, with the presentation of the experiences and experiences of other countries to benefit from them. 
The President of Euromoney praised the steps and measures taken by the Kingdom of Bahrain in this regard from its vision of the ambitious future vision. 
The first paragraph of the forum witnessed a discussion session with the Executive Chairman of the Bahrain Economic Development Board, Khalid Al Rumaihi, which was moderated by CNN Economic Editor John Defterios.
Al-Rumaihi spoke during the dialogue about the importance of the theme of the Fantic as the financial sector is one of the cornerstones of the economy, and technology has direct implications on various sectors, including the financial sector. Which requires looking at what customers and customers of the financial and banking sector want, where they are looking for a new experience and developed in financial services. All this makes the focus on the theme of Fintec essential at this stage in order to benefit from other experiences and identify the most important opportunities and challenges related to financial technology and digital transformation. 
Al-Rumaihi explained that the government of Bahrain is particularly focused on this aspect and has set up a specialized unit for the FNC in the Central Bank in the belief that such a transformation is accompanied by many challenges and many opportunities.
"The experience has shown that opening up markets to competition leads to development and investment in technology," said the chairman of the Economic Development Board, citing the opening up of telecoms companies such as Zain, Viva and Telecom, leading to a rise in telecommunications services in Bahrain, including Batelco.
With regard to the industrial revolution and the absence of Arab countries from leading such revolutions, Al-Rumaihi said that this is a sad reality. With the fourth industrial revolution, we are still witnessing the absence of Arab companies and names in this regard. However, this does not mean that there are no distinct Arab minds working in major international companies and contributed greatly to the industrial revolution. Perhaps one of the main reasons for this absence is the reluctance of capital in the Arab countries to invest in this aspect, and resort to easier investments such as real estate. And education systems need to be significantly improved. This is what is being emphasized in Bahrain now through a number of ambitious programs and educational institutions.
Asked about the slow economic growth in the region and the link with oil prices, Al Rumaihi explained that the regional budgets were based on the price of $ 100, and the current oil price rises to $ 70 which helps the situation but is not enough in the short term. Income. The Chairman of the Economic Development Board stressed the need to exploit the oil wealth as a source to ensure a better future for future generations and not just the present time. 
Following this paragraph, the keynote address of Apple co-founder Steve Wozniak focused on the rapid technological development and its impact on the everyday lives of individuals. He linked the achievements of Apple to the side of the Phenetic, stressing that technology should be used to invest in the community itself, which requires effective steps in the development of education and training systems.
Steve stressed that the Fourth Industrial Revolution carries many challenges but at the same time offers many promising opportunities that must be invested to achieve the best results. Stressing that the Phenetic is no longer an option or a luxury, but a necessity imposed by the nature of the Fourth Industrial Revolution and technological progress, and those who do not keep pace with it can not enter the field of intense competition. 
And reviewed his personal experience since he was young, pointing out that determination and determination is the secret of success, and repeated rejection of his projects when he was young did not discourage his determination. He even had to sacrifice some of what he had to accomplish his first computer model, especially when he met with the will of Steve Jones.
The forum then witnessed separate dialogue sessions. The first dealt with the re-innovation of financial services, and addressed many aspects, including the need to re-invent financial services and reinvent, the global motives for reinvention, the implications for customers or institutions, as well as the mechanisms of regulation of innovation. Speaking at the panel discussion, John Defterios, Economic Editor of CNN, Omar Farooq of JP Morgan, Violeta Loylin of Ovamba Solutions, David Parker, Executive Director of Financial Services at the Bahrain Economic Development Board and Catherine Wood, Founder and CEO of ARK. 
This was followed by a discussion session with the Governor of the Central Bank of Bahrain, Rashid Mohammed Al-Maraj, during which he discussed Richard Banks.
The last paragraph was a panel discussion on the responsibility of finance, the contribution of technology to the development of the official, and the positive implications for clients and investors, as well as Islamic finance, sector development and business models. 
Sharabi Corbett, Euromoney's economic editor, and Ali Adnan Ibrahim of Al Baraka Banking Group, Irfan Khan, CEO and Founder of Yielders, Laurent Marlier, ISFIN's Chief Executive Officer, Nakhim Nazim, General Manager of Finocracy Capita, Ang Reelff, Global Choices CEO.
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