MEFTEC leads the way to financial technology future

The launch of the event's fifth annual edition follows the phenomenal success of MEFTEC 2008 that smashed all previous MEFTEC records by bringing together 150 exhibitors over 6,000 square metres of exhibition space, and 800 senior industry buyers, including 300 fully hosted delegates from 27 countries.

A comprehensive post-exhibition survey conducted at the end of MEFTEC 2008 revealed that almost 100% of the buyer-delegates and 90% of exhibitors declared the event a major success and vowed to return next year.

The survey also revealed that 80% of the exhibitors were likely to close new deals as a direct result of their participation at the show, while 97% of the buyer-delegates ranked MEFTEC as significantly better than similar industry events.

"MEFTEC simply goes from strength to strength, not only in terms of size, but also in terms of quality," said Mark Beaumont, Director, International Projects at Media Generation Exhibitions Ltd, organisers of MEFTEC. "Now in its fifth year, MEFTEC is firmly established as the most important, high-profile fixture on the global financial technology calendar."

Syed Faisal Abbas, Project Director, MEFTEC said: "We are delighted by the fantastic feedback from our 2008 participants. With a raft of exciting new initiatives planned for 2009, we look forward to delivering an even bigger and better MEFTEC next year."

The robust growth of the event comes on the back of the burgeoning demand for financial technology across the Middle East, Africa and South Asia (MEASA) region.

By 2017, the IT spending of banks in the MEASA region is expected to reach $22bn per annum, with GCC banks accounting for $12-14 bn of this demand.

MEFTEC is held under the auspices of the Central Bank of Bahrain and supported by the Bahrain Financial Services Development.

The Kingdom of Bahrain is globally acclaimed as the banking & financial hub of the Middle East, playing host to no fewer than 400 institutions, including the world's largest single concentration of Islamic banks.

MEFTEC 2008 sponsors included Microsoft Corporation (Headline Sponsor); ProgressSoft, TCS Financial Solutions, Misys, Nucleus Software, Raqmiyat and 01 Systems (Platinum Sponsors); Temenos, Reuters, Ernst & Young and InfoCall (Gold Sponsors); ICS London, DST, IMTAC, afb Application Services, IND, Al-Moayyed Computers, Thinksoft, EDATA and Intertech (Silver Sponsors); Xerox, Experian-Scorex, Arab Financial Services, Path Solutions, Neutel, RSA Security, Gartner and Syntax IT (Bronze Sponsors); IBS Publishing, Bobsguide.com and Banking Technology (Media Partners); Zain (Official Communications Partner) and Gulf Air (Official Airline).