Major International Banking Conference to be held in Oman

Mr. AbdulRazak Ali Issa, Chief Executive of BankMuscat, the host bank of the conference, said, "We are meeting at a time when important developments are unfolding in the international economy and in our regional economy, and as the leading financial institutions in the Middle East and North Africa are moving forward to develop approaches to major issues of bank regulation and corporate governance. These are among the prime topics that will be discussed at our forthcoming conference."

Mr. Ibrahim Dabdoub, Chief Executive of the National Bank of Kuwait and a member of the Board of Directors of the IIF, pointed out that financial institutions in the region are playing an increasing role in the global economy and adapting to the challenges that this presents. He will be chairing a session at the conference on enhancing corporate governance. Another key session at this conference will be regulatory issues facing the region's banks as the Basel II framework on bank capital adequacy moves towards implementation.

The IIF's Managing Director, Mr. Charles Dallara, stated, "The outlook for global oil prices is one of the major issues of uncertainty overhanging the world economy this year and it is a significant topic on our agenda at the forthcoming meeting in Oman. We will be discussing the key trends in the international economy and also bringing together leading experts to review the trends of major projects in the region, including infrastructure projects, and the opportunities that this offers to regional banks."

Commenting on critical Middle Eastern economic challenges, Mr. Howard Handy, IIF Counselor and Director, Africa and the Middle East, said, "The economic boom in the region which has been spurred by the surge in oil earnings has lifted confidence and created new business opportunities. However, vigilance will be needed on the part of policy-makers to tackle underlying structural weaknesses in many countries and the risks stemming from soaring asset prices in the region."

Prominent speakers at the conference will include His Excellency Hamood Sangour Al-Zadjali, Executive President of the Central Bank of Oman; Mr. Cees Maas, Vice Chairman and Treasurer of the IIF and Vice Chairman and Chief Financial Officer of ING; Mr. Stephen W. Bosworth, Dean of the Fletcher School at Tufts University and Dr. Edward Morse, Executive Advisor at Hess Energy Trading Company.

In addition, speakers at the meeting include Mr. Michael Williams, General Manager of the International Bank of Qatar; Mr. Jonathan Lyon, Chief General Manager & Executive Officer, Burgan Bank; Mr. Muthuswamy Chandrasekaran, Senior Vice President & Head of Structured Finance, Gulf International Bank; Ms. Shaikha Al-Bahar, Group General Manager, Corporate Banking Group, the National Bank of Kuwait; Dr. Frederik Musch, Chairman of Global Financial Services and Regulatory Practice, PriceWaterhouseCoopers; Mr. Stilpon Nestor, Principal, Nestor Advisors Ltd.; Mr. Stephen Peel, Partner, Texas Pacific Group; Mr. Charles Teschner, Managing Director, Booz Allen Hamilton; Mr. Pehlaj Malhotra, Senior Manager of Corporate Credit & Risk, HSBC Holdings plc; Mr. David Schraa, IIF Director, Regulatory Affairs.

The IIF is seeing significant growth in its membership in the Middle East and North Africa region and is organizing an increasing range of high-level meetings in the region.