MEFX to become the region's largest banking and finance trade fair

The inaugural event will be held at the Dubai International Convention and Exhibition Centre from the 15-17 April 2008.

Inspired by Dubai's ambition to become one of the world's leading financial centres and to stimulate greater economic development and diversification in the region, MEFX will be the catalyst to connect finance professionals from around the world with suppliers of specialist products and services. It is anticipated to immediately establish itself as the leading exhibition of its kind in the Middle East, Africa and South Asia region (MEASA).

'Banking and finance have always been a key growth sector in the Middle East' said Helal Saeed Al Marri, Director General of Dubai World Trade Centre.

'MEFX will be aligned to contribute to His Highness Sheikh Mohammad Bin Rashid Al Maktoum, UAE Prime Minister and Vice President, and Ruler of Dubai's 2015 Strategic Plan that focuses on developing the emirates dynamic growth industries. This includes the banking sector, which is a vital driver behind Dubai's phenomenal economic achievements. DWTC is proud to provide an influential platform for greater innovative and strategic development in the region' he added.

MEFX will cover all products, services and technologies relating to the banking and finance sector. Exhibitors will include technology providers, banks and financial institutions, consultants, data providers, ratings agencies, recruitment agencies, training companies and other suppliers to the industry.

MEFX will showcase the latest technological tools for the financial world including the most recent developments in check 21/check clearing and settlement, disaster recovery, security, identity management, mobile trading, risk management and analytics, branch automation and multi-channel integration.

Islamic banking and finance will be a key focus at MEFX, responding to the growing significance of Islamic finance on the world stage including the establishment of EAMAR International Bank, growth in the Sukuk market and the increasing portfolio of Shariah compliant products and services available to customers. The Islamic Finance Market is currently experiencing 20% annual growth.

Mr Al Marri continues: 'This exhibition will meet the crucial demand of the regions rapidly growing financial sector. MEFX has been carefully designed to create a dedicated business, education and networking environment to enable service providers and key local and regional influencers to share experiences, engage in open dialogue and identify best practice.'

In association with the exhibition, DWTC is hosting the MEFX Summit, designed to meet the needs of senior management professionals. The Summit will feature international experts and discuss topics that address core issues relevant to the ever changing financial services sector including market harmonization, funds industry, global exchange platforms, Islamic banking, new world economies, outsourcing and the securities landscape.

MEFX also features other networking events alongside the exhibition aimed at fostering greater relationships amongst the financial community. These include a golf tournament, cocktail function and a gala awards dinner to celebrate the achievements of the industry.

MEFX reflects the Middle East's substantial growth in financial institutions, a trend related to economic growth, repatriation of investments, the emergence of regional financial markets and the opening up of the banking sector in compliance with the World Trade Organisation.

One of the areas of especially high growth is the UAE's fast expanding project finance market, expected to reach $500 billion by 2010. The Middle East's financial institutions are also increasingly investing in IT. It is estimated that in 2006 Middle East banks spent $1.4billion on IT and that the sector is growing by 12-15% annually.