DCCI participates in the 2nd International Credit & Risk Management Conference in the Middle East

The call was delivered during the DCCI's participation in the 2nd International Credit and Risk Management Conference in the Middle East which was organized by the Finance, Credit and International Business (FCIB) at Hyatt Regency Hotel in Dubai, which started today and ends tomorrow.

The opening ceremony of the conference was attended by Mr. Ateeq Juma Naseeb, Director of Business Development Department in the DCCI, Mr. Tim Lane, Director of European and Middle East Operations of FCIB, Dr. Hans Belcsak, President of S.J. Rundt & Associates Company in New York, USA, and a number of chief executive officers and directors of local and international finance institutions, chief finance officers, treasurers and experts and analysts of international credit and risk management and finance trade.

Mr. Naseeb highlighted the importance of this economic conference and the keen interest of the DCCI to support such events and introduce the local business community to the latest economic and trade information and laws locally and globally. He pointed out that the topics of the conference draw the attention of the largest number of businessmen and investors, including the DCCI's members, due to its role in raising awareness about risk management techniques to avoid mistakes that could lead to loss of money and businesses.

"The DCCI supports this conference for the second successive year due to the significant topics to be delivered through it and the importance of choosing Dubai by the FCIB to organize the event. The DCCI is a pioneer in the field of credit business through the credit rating unit which the DCCI established in cooperation with 'Compagnie Francaise d' Assurance Pour Le Commerce Exteriors (Coface)' to provide its members of local and international trade companies with value added services that help enhance their competitiveness and confront the increasing challenges in the global markets," said Mr. Naseeb.

"Organizing this conference by FCIB supported by the DCCI reflects the FCIB's interest to enhance cooperation with the DCCI in raising awareness among the members of the local business community concerning credit and risk management. The DCCI's credit rating unit has played a significant role in providing its members, who deal with new companies for the first time, with accurate information about the evaluation of the companies' risk and credit assessment according to a certain credit classification," Mr. Naseeb added.

He pointed out that the credit rating has proved to be an effective instrument of risk assessment in countries that enjoy advanced economics. It demonstrates transparency of an enterprise, as well as the financial, sectorial, operational, legal and organizational sides of companies.

"If we look at the balance sheets of most companies, we find that the accounts departments receive and deal with the largest items of money that customers owe to these companies and that the management of these companies is interested in making sure that the customers pay back the money. That is what made the FCIB realize the need to educate companies about the importance of credit and risk management," said Mr. Tim Lane, Director of European and Middle East Operations of FCIB.

Dr. Hans Belcsak, President of S.J. Rundt & Associates Inc., New York, USA, conducted a presentation in which he delivered a general overview on the credit perspectives in the Middle East and Asia Pacific regions. He also talked about the economic positions in the USA, China, Japan, Europe and other emerging markets who importance is rapidly increasing.

The conference will also discuss other important topics such as the changing credit services marketplace and the role of credit in business development, the evolving role of trade finance in the key business development markets in the Middle East and Asia Pacific regions, and the information logistics for international trade.