Citibank Kuwait introduces Interactive Derivatives Workshop

Conducted by Michal Kowalczuk, Head of Citi's FX Options Structuring in CEEMEA, the 2-day seminar featured more than 20 of Kuwait's top-tier treasury, finance and Investment officers from the Kuwaiti Public Sector, in addition to delegates representing Telecom, Auto, Trade, Infrastructure, Oil&Petrochemicals, and Finance sectors.

Participants formed virtual companies, each determining best hedging strategy in the face of a specific financial risk. Each 'company' held a variety of foreign exchange, interest rate and commodities exposures, and opted for 'positions' fitting pre-determined risk appetite. A competition for best hedging strategy concluded the 2-day seminar.

"Derivatives are key financial tools which should be used specifically for hedging purposes and not as speculative instruments. Our aim here was to show finance professionals how to best use derivatives in a constructive and responsible manner and to dispel any myth that might have been formed around these key treasury tools."

said Raj Dvivedi, Citi Country Officer in Kuwait.

"The bank's novel approach was well received by treasury, finance and investment officers of top local companies and financial institutions," added Mr. Adour, Citibank Kuwait treasurer. "Trainees learned about various hedging strategies and developed a more insightful understanding of today's evolving financial risk in global capital markets. This and other focused training efforts are in line with Citi's long-term strategy and commitment to developing local professional talent."

Citi has been in the Arab World for nearly 50 years and continues to view the region as critical to its global franchise. It is currently present in ten Arab countries including Egypt, UAE, Lebanon, Jordan, Tunisia, Morocco, Algeria, Bahrain, Qatar and Kuwait. It also serves clients in non-presence countries, such as Yemen and Oman through Bahrain and Dubai.

Since establishing its fully licensed branch in Kuwait in 2006, Citi has evolved into an active corporate citizen, with a particular interest in supporting financial education and developing Kuwait's talent pool. Over 100 young Kuwaitis have so far received certified training on financial literacy, life skills and personal economics through Citi's sponsored training programs.