The underlying problem to the current financial crisis is the fear factor: Group CFO Kuwait Projects Co.

These changing times are imposing increased pressures on the CFOs and heads of finance in the region to weigh their current strategies and evaluate the long term consequences of the crisis on their business and the economy as a whole.

In response to these challenging times, leading CFOs across major industry verticals will be gathering together at the 2nd Annual naseba CFO Strategies Middle East Forum to discuss the impact of the financial crisis on their risk and cash management strategies and also understand the long term consequences of the financial crisis for this region.

"I think it's too early to say what the full impact the current global financial crisis will be on the Gulf region, because the impact will differ from country to country and sector to sector. For example, in Kuwait - where monetary policy has been much more prudent - I think the affect of the global downturn on the real estate sector will be far less than in some other GCC countries. The underlying problem, both regionally and globally, is the fear factor. The market seems to have swung from one irrationality to another as people have gone from assuming there's no risk in their investments to assuming there are no safe investments at all. At KIPCO we've learnt not to be trapped by circumstances, but to see marketplace opportunities and take advantage of them. We think the ability to see business opportunities even during the worst of times is the difference between those who lead market trends and those who just follow them"

explained Pinak Maitra, Group CFO, Kuwait Projects Co.

He further added "As to the impact the crisis is having on CFOs in the region, I think we should remain focused on articulating and leveraging the fundamentals of the region - its natural growth, its ample liquidity, its strong demographics and the lower cost of doing business here. This is a very positive message and it's what makes this region unique. I also think that the current downturn provides CFOs in the region with a great opportunity to develop their multi-dimensional role as business partner, entrepreneur and risk manager. By learning from each other and sharing our experiences, I think we will play a crucial part in the way the region deals with the situation."

The forum is hosting leading CFOs in the region sharing best practices and in-depth case studies including:

· Abdul Latif Al Othman, Senior VP - Finance, Saudi Aramco

· Sanjay Uppal, Group CFO, Emirates NBD

· P K Dutta, Group CFO, Damas

· Dr. Muhammed Ikhwan, Senior VP - M&A, Savola Group

· Georges Schorderet, CFO, Al Marai

· Vijay Kasturi, Head of finance and planning, ADCB

"naseba's CFO Strategies Middle East forum is the perfect platform for the CFOs to discuss their concerns and challenges and share their experiences with their peers in an exclusive environment designed only for the CFOs and heads of finance in the region. It will address the best practices in innovation, transformation and sustainability of the finance function and explore the strategies involved in improving corporate performance, minimizing risk and achieving outstanding growth."- commented Prachi Dawar, Event Producer at naseba.