Abdul Aziz Abdullah Al-Ghuriar addresses Arab Banking Conference 2008 in Egypt

Hosted by the Arab Union under the patronage of H.E. Dr. Ahmad Nazif, Egypt's Prime Minister, and in cooperation with the Central Bank of Egypt, the Banks' Association of Egypt, and the International Federation of Arab Bankers, this year's conference focuses on the role of banking in financing Arab investment projects.

During the conference, Abdul Aziz Al-Ghuriar discusses the major factors that influence the flow of the investment in a particular economy. Al-Ghuriar explained the importance of the regulatory environment, the banking system and alignment of the government and private sector in enhancing the investment arena in the Arab region.

"In today's world, local and foreign direct investments play the most important role in the development of an economy," says Abdul Aziz Al-Ghuriar, Chairman of the National Federal Council and CEO of Mashreq bank. "Various measures are being taken to promote investments in the Arab countries including the opening of certain economic sectors to foreign investments in addition to providing the right incentives. Foreign direct investment gives a boost to the economic development by bringing in new technology, new skill sets and investments in the capital goods."

The Arab Banking Conference mainly aims at introducing initiatives and opportunities for enhancing effectiveness of development banks, investment institutions and funds in the Arab world. This will provide suitable financing tools and techniques for major Arab investment projects that would contribute to securing its strong momentum, gaining a robust economic dimension for the region. Other key topics include providing the opportunity for economists, financiers and bankers to hold open discussions to set a comprehensive vision to boost and expand economic cooperation in the Arabic world.