DCCI organizes a seminar on Understanding & Controlling Corporate Credit Risk

This is part of a specialized series of seminars that the DCCI has planned for this year targeting the local business community including exporters, producers and investors in finance and financial and investment services, as well as the companies related to the business groups and councils that operate under the DCCI umbrella.

The seminar targets banking officials and corporate credit risk specialists who would be able to learn more about the effective solutions of credit risk and the practices of credit risk management in some local establishments. The seminar also highlights the need of understanding corporate credit risk framework, and introducing the participants to the present credit risk solutions available in the DCCI.

Mariam Al Serkal, Credit Rating Unit Team Leader at the DCCI, said the seminar ensures the Dubai Chamber's interest in introducing members and the business community to the risks Dubai-based businessmen and companies might face while dealing with other companies that have no credit records. Credit records help investors effectively promote their companies upon getting into new investments inside and outside the UAE, as well as minimizing the losses based on distrusted companies' credits.

"The DCCI aims to enhance the awareness of Dubai business community on the importance of corporate credit control, mainly in the financial establishments, the need to have clear and honest information about business partners' credits, mainly those working in banking sectors who make a vast scope of our members," said Al Serkal.

She pointed out that this seminar will be handled by international experts in credit risk management and international businesses who will offer their expertise to the DCCI members working in banks and other financial establishments.

"Dubai Chamber is interested in providing effective and flexible solutions to help its members confidently control their credit risks to ensure safe transactions with banks," she added.

Two main speakers from the Compagnie Francaise d' Assurance pour Le Commerce Exteriors (Coface), and the Association of Executives in Finance, Credit and International Business (FCIB), will deliver their lectures on the same topic of the seminar, in addition to introducing the participants to the credit risk control experiences of a UAE national bank and another foreign one.

Al Serkal noted that the seminar will discuss four major topics that include rating credit risk solutions, understanding corporate credit risk, credit risk practices in the UAE and SMEs and the Credit Opportunities-balancing risk and reward.