The two-day conference regarded as the MENA region's trade event of the year was organised by Exporta, publishers of the Global Trade Review. Over 140 delegates, including exporters, banks, insurers and legal professionals attended the event.
Discussions took place on a variety of issues as diverse as Islamic finance, mitigating the risks of trade, paperless trade and forfaiting. Christopher Lewis, HSBC's Regional Manager Trade Services, was a keynote speaker on the first day of the conference. He gave a detailed presentation on Factoring as an alternative source of Trade Finance in the Middle East.
"The HSBC Group is a global leader in global trade services and is one of the largest international providers of factoring services. Our prominent participation in this conference allowed us to demonstrate our capabilities in the Middle East," said Mr Lewis.
Factoring Service was first introduced in the Middle East by HSBC in March 2003. It is specifically designed to assist businesses with financing against their outstanding invoices for both their domestic and export sales. HSBC also undertakes to collect the payment from the buyer and provides a credit protection service when required.
"Factoring is a growing business in the Middle East. HSBC is pleased to be leading its development in the region," added Mr Lewis.
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HSBC sponsors MENA Trade & Export Finance Forum 2004
- United Arab Emirates: Sunday, February 15 - 2004 at 14:08
- PRESS RELEASE
HSBC was an official sponsor of the recent Middle East and North Africa Trade and Export Finance Forum held at the Jumeirah Beach Hotel in Dubai.
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1. HSBC Bank Middle East LimitedHSBC is the largest and most widely represented international bank in the Middle East. HSBC Bank Middle East Limitedhas 29 branches throughout the United Arab Emirates, Oman, Bahrain, Qatar, Jordan, Lebanon, and the Palestinian Autonomous Area, including an offshore banking unit in Bahrain. This extensive regional coverage is strengthened by another member of the HSBC Group HSBC Bank Egypt SAE, and by its associated companies, The Saudi British Bank and British Arab Commercial Bank Limited. In addition to its Middle Eastern network, the Bank has a representative office in Tehran, Iran.
2. HSBC Holdings plc
HSBC Bank Middle East Limited has been a principal member of the HSBC Group since 1959. With over 9,500 offices in 79 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa and assets of US$ 983 billion at 30 June 2003, the HSBC Group is one of the world's largest banking and financial services organisations.
Posted by Anne-Birte Stensgaard, Senior News EditorSunday, February 15 - 2004 at 14:08 UAE local time (GMT+4)
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