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Middle East Trade Finance Week

Dubai, United Arab Emirates | February 17-19, 2013
Jumeirah Emirates Towers

Event Review

Exporta, the leading global financial services information provider, returned to Dubai for the 10th successive year to hold its Annual Middle East Trade & Export Finance Conference, taking place at the Jumeirah Emirates Towers Hotel as part of the Middle East Trade Finance Week on February 17-19.

Firmly established as the region’s leading trade and export finance conference, this new extended format incorporated various streams, workshops, roundtables, seminars and networking functions, further showcasing the huge significance of the GCC and wider Middle East region as a global trading hub.

Discussions centred on a range of topics, including growth forecasts for corporates and banks alike, the changing political risk environment post-Arab Spring, ongoing challenges in maintaining liquidity and optimising working capital, infrastructure and project financing requirements, as well as considering the overarching question as to whether the region’s global influence is still determined by its role as a commodity exporter.

“One of the key issues identified over the course of this event is the tremendous will and appetite for doing business, establishing the GCC as a global commodity hub and increasing business flows with thriving markets such as Asia and Africa, whilst still maintaining close ties with traditional trading partners such as Europe and the US,” says Jeff Ando, Head of Conference Production for Exporta Events. “One of the overriding impressions we believe delegates will have taken away is the desire to drive things forward, to explore the various financing options available for maximising the region’s potential.”

The reiterated commitment to Asia and Africa was a central theme, with continued focus on Dubai as a hub from which commodities dominate trade flows, while sanctions were identified as being a major concern for a banking sector keen to avoid falling foul of compliance regulations. Meanwhile, although it was noted that local banks are filling some of the gaps left by European banks leaving the region, further funding options for the corporate sector are still required.

“One of the core benefits of hosting such a well established event is the long standing relationships enjoyed with senior market leaders, with many of the most established and internationally recognised multinationals in regular attendance,” said Peter Gubbins, Managing Director of Exporta. “This combined with the outstanding support provided by the Dubai Multi-Commodities Centre (DMCC) and Dubai Trade (part of Dubai World) further demonstrates the calibre of support this event enjoys.”

As a Government of Dubai authority established to drive forward the competitive advantages Dubai enjoys as a global trading hub, the DMCC has been particularly successful with its mandate to stimulate commodity flows, most recently through its central registry of commodity ownership, DMCC Tradeflow. “Our goal is to ensure sustainable regional financial and commodity markets that are both transparent and liquid. The focus is now on fostering the development and growth of trade for those expanding into new markets,” says Malcolm Wall Morris, Chief Executive Officer of DMCC. “Dubai is perfectly positioned at the crossroads of these markets.”

The event concluded with the official launch of the ICC Regional MENA Banking Commission on the afternoon of Tuesday February 19, a joint venture between the International Chamber of Commerce and the Dubai Chamber of Commerce & Industry, established to extend the reach of the ICC Banking Commission within the MENA region. Key speakers included H. E Hamad Buamin, Director General, Dubai Chamber of Commerce & Industry and Kah-Chye Tan, Chairman, ICC Banking Commission.

Description

Exporta’s Middle East Trade Finance Week, incorporating the 10th Annual Middle East Trade & Export Finance Conference alongside various stream sessions, roundtables, workshops and networking events, will be taking place in Dubai on February 17-19, 2013.

As one of the longest-running and most established fixtures on the MENA calendar, the event has built an unrivalled reputation for bringing senior business leaders together to discuss the most prominent issues impacting on the local trade landscape.

Following a period of unprecedented change within the region, attending delegates will have much to discuss, with particular focus on how such change has impacted on regional and global trade flows for some of the world’s biggest and most influential exporters. With around 300 delegates expected in attendance, including companies of all sizes and from all manner of sectors, attention will turn to how financial institutions are serving their funding needs and how they expect to cope with financing the exponential growth expected in the coming years.

Recognising the importance of face-to-face interaction when conducting business, huge emphasis will be placed on the importance of networking over the course of the week, with delegates being given the opportunity to plan and organise private meetings via Exporta in the lead-up to proceedings.

There will also be a special ‘trade finance networking reception’ taking place on February 18, allowing delegates to make new contacts and renew old acquaintances in a more informal setting.

Check out the METFW Event APP at www.tfweek.com

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Moody's Risk Decision-Making Workshop

The influence of leaders and culture

February 17, 2013

This is an interactive workshop that will raise your awareness of the human and cultural factors influencing judgment and decision making related to risk. The workshop will challenge you to examine how you reach your decisions, and the wider impact of the decisions you make. The case studies will explore the influence of leaders on organisational culture and enable you to reflect on the culture of your own organisation.

INSTRUCTOR

Sarah Tennyson

Director & Faculty Head, Professional Development, Moody’s Analytics

13.00 Registration and refreshments

13.30 Human factors in decision-making

● Individual factors that influence decision making

● Interpersonal factors that influence decision making

● Brain structures and decision making

14.15 Leadership lessons from the financial crisis: Case study

● Increased scrutiny by Regulators of the ‘fitness’ of Leaders

● Case study: why disasters occur and how they can be better managed

15.00 Refreshment break

15.30 Influencing the culture of risk management in your organisation

● A working definition of risk culture

● Ways in which leaders influence culture

● Case study

16.15 Culture change: Case study

● Worked example of a culture change project within the banking sector

17.00 Close of workshop

Day One

February 18, 2013

08.00 Registration and refreshments

09.00 Chairman’s opening remarks
Farrukh Siddiqui, Managing Director, Head of Trade Middle East & Africa, J.P. Morgan

09.10 Keynote: Fuelling the engine of growth through commodity trade flows and innovation
Malcolm Wall Morris, Chief Executive Officer, Dubai Multi Commodities Centre (DMCC)

Discussing the continued increase in flows through Dubai and opportunities provided for companies to access new markets
Examining which sectors have seen growth and how the establishment of specific exchanges has led to increases in volume and pricing
How such growth has increased the need for warehousing facilities as part of the commercial offering
Providing facilities to enable companies to access alternative financing methods based on inventory
How the varied demographic of companies operating and trading within Dubai reflects the changing nature of global commodity flows
Providing infrastructure in support of an increasingly complex global supply chain

09.35 Debating corporate financing trends in the GCC and MENA region
Moderator: Louis Robinson, Managing Director, EMEA Trade Sales Head, RBS
V.P. Nagarajan, Executive Director, ETA Group
George Wilson, Credit Manager, Goodyear Middle East
Svitlana Skrypnyk, Sales Director, Safin Gulf
Hazem Sherif, Corporate Treasury Manager, El Sewedy Electro-Meter Egypt
Paul Blair, Head of Finance & Control, Sony Professional Solutions MEA

Providing observations on regional business growth: Where are companies seeing the best opportunities at present?
Have companies witnessed a movement back towards letters of credit as a way of increasing payment certainty? What other alternatives are available?
With pricing challenges seeing companies look to new markets for opportunities, are they looking to replicate their domestic financing structures?
To what extent have companies been exposed to the Eurozone crisis and how has this impacted on the SME sector in particular?
What role does credit insurance play in the corporate mindset at present in terms of risk management? What is the quality of credit information available at present?
Gaining perspectives on the increase in RMB settlement and how this has impacted on the bottom line

10.25 Maximising Dubai’s potential as a trade hub through improved infrastructure
Mahmood Al Bastaki, Chief Executive Officer, Dubai Trade

Ensuring more efficient management of payment processes and data transactions across a large number of parties
Streamlining the engagement process between government agencies and private companies
Consolidating existing products, platforms and solutions into one comprehensive offering
Examining the role of efficient portals and platforms in encouraging and promoting ease of doing business
How increased automated trading online has improved process efficiencies and reduced costs
Can more be done to promote greater understanding regarding the adoption of trade platforms?

10.50 Networking break

11.30 Improving credit quality and bridging funding gaps for GCC banks and corporates
Martin Kohlhase, Vice-President, Senior Analyst, Corporate Finance Group, Moody's

Addressing concerns over the impact of fluctuating oil prices and geopolitical factors on corporate credit ratings
Examining the steps that GCC companies have taken in reducing refinancing exposure and strengthening liquidity
Looking at some of the measures ‘weaker corporates’ are taking to address shortfalls in the funding being made available to them
How do corporate forecasts differ from those of banks in light of retrenchment from various international institutions?
What are the primary concerns in terms of long-term structural funding shortfalls being faced by banks?
Assessing the different factors impacting on rating trends across the wider GCC region

11.55 Shaping the new landscape: Local banks come to the fore
Moderator: Shannon Manders, Editor, Global Trade Review (GTR)
Krishnakumar Duraiswamy, Head of Trade Finance, Abu Dhabi Commercial Bank
Imre Gorzsas, Assistant General Manager, Extended Network & Transaction Banking, Qatar National Bank (QNB)
Sonam Kapadia, Executive Director, Global Trade, MENA, J.P. Morgan
Kamel Alzarka, Chairman, Falcon Group
Shehzad Sharjeel, Regional Head Trade & Supply Chain, Middle East & North Africa, International Finance Corporation (IFC)
Farrukh Zain, Director, Head of Trade, MENA, Bank of America Merrill Lynch

How institutions are utilising their local knowledge to take a leading position in the market
Adopting strategies for wider regional expansion and the role of trade finance in assisting this
What opportunities are being provided for local banks to secure a stronger regional footprint and what role can Islamic finance play in this?
Increasing use of new financing techniques to offset new challenges as clients look to continue growing their volumes
Considering the role of alternative financiers: What role do they have to play in the new landscape?
Tightening controls and risk management when operating across the GCC and beyond

12.45 Risk profiling: The MENA political and economic environment in 2013
Nick Robson, Managing Director, Credit, Political & Security Risk, Jardine Lloyd Thompson

Analysing the key political and economic risk trends following the events of the Arab Spring
Scenarios for 2013: Understanding the key drivers of political risk and how companies and banks can better protect their interests
Highlighting the consequences for funding trade and investment in MENA arising from the Euro crisis and Basel III
Who are the primary buyers for MENA credit and political risk and how should you engage with them?

13.10 Lunch

14.25 Stream A – Commodity financing and opportunities provided by trade flows
Chair: Farrukh Siddiqui, Managing Director, Head of Trade Middle East & Africa, J.P. Morgan

14.25 Is the GCC’s global influence still determined by its role as a commodity exporter?
Moderator: Farrukh Siddiqui, Managing Director, Head of Trade Middle East & Africa, J.P. Morgan
Andy Howell, Head of Soft Commodities, Sumitomo Mitsui Banking Corporation Europe
Sudhakar Tomar, Managing Director, Hakan Agro
Frank Weilack, Head of GTS, Middle East & Southern Africa, BNP Paribas
Simon Cook, Partner, SNR Denton
Ian Rogers, Regional Head of Business Development, GTRF, MENA, HSBC

Has the sector witnessed the anticipated shift in demand towards commodity-hungry markets such as Africa and Asia?
Looking at the key drivers when it comes to pricing stability and the role of the region as a global benchmark
How has the impact of the Arab Spring and subsequent social and political change increased and diversified regional economic output?
What observations can be made on the growth of RMB as a settlement currency in the global commodities market?
Providing observations on the growth of sectors such as metals and agriculture as the region continues its ongoing process of development
Are Middle East companies being sufficiently ambitious in their attempts to tap into new export markets?

15.10 Commodity exchanges and the growth of warehouse receipt programmes
Moderator: Andrew Fairie, Manager Tradeflow, Dubai Multi Commodities Centre (DMCC)
Ravi Kashyap, General Manager, Steinweg Sharaf
Subramanian Krishnamurthy, Chief Executive Officer, Ace Global
Chetan Bharkhada, President & Head of Commodities & Currency, Anand Rathi Group
Makiko Toyoda, Product Lead, Global Warehouse Finance Programme, Trade & Supply Chain Solutions, International Finance Corporation (IFC)

Outlining the role of programmes in reducing commodity trade finance risk and encouraging banks to provide capital
Highlighting benefits in being able to use warehouse receipts as collateral when applying for financing
The use of commodity exchanges by banks to hedge their trade finance positions
Establishing uniform regulatory frameworks and following a standardised set of rules
Examining transaction patterns under such programmes and how they have shifted: Is there a demand for expanding further into new markets?
Considering evolution of the collateral receipt model beyond traditional warehousing and potential links with commodity exchanges

15.45 Networking break

16.10 Oiling the cogs: Highlighting the legal pitfalls and solutions being faced in trade and commodity finance
Moderator: Mohammed Abdrabboh, General Legal Counsel, Dubai Multi Commodities Centre (DMCC)
Lynette Brown, Partner, Al Tamimi & Company
Jonathan Brown, Senior Legal Consultant, Hadef Partners

Examining the most prevalent challenges presently being faced in terms of regulatory changes
Ensuring that traders and banks are comprehensively prepared in terms of information to present to their credit committees
Considering the increasing demand and pressure being placed on lawyers to squeeze adequacy ratios and reduce cost of transactions for borrowers
Are there concerns among lawyers that the increases in regulatory constraints could have a debilitating impact on deal flows?
Is the current climate requiring lawyers to be more adaptable in terms of adapting their skill sets to cover differing forms of financing?
Know your client: Sharing experiences on the challenges faced in terms of compliance when working across multiple jurisdictions

16.45 Assessing and comparing the growth of GCC trade flows with Africa and Asia
Moderator: Zeeshan Khan, Vice-President, Head of Trade, UAE & Oman, J.P. Morgan
Rajesh Gupta, Senior Vice-President, Head of Business & Transaction Banking, First Gulf Bank
Suresh Vaidhyanathan, Group CFO, Platinum Corporation
Volker Handrich, Head of Trade & Supply Chain Finance, Swiss Re Corporate Solutions
Benedict Oramah, Executive Vice-President, Business Development & Corporate Banking, Afreximbank
Mayank Upadhyaya, Vice President, Regional Manager, Global Transaction Services, DBS Bank

Highlighting increased levels of interest in emerging markets: Where are the best financing opportunities to be found?
Are markets such as Africa and Asia seen as a short-term alternative following the Eurozone crisis or are companies and banks looking to establish a permanent presence?
Does the strong Asian footprint in the GCC provide a competitive advantage in this respect? How can Africa redress the balance?
Considering increasing involvement in structured trade and large-scale syndications in these markets: Are MENA institutions interested in financing non-MENA trade?
How much work is there still to be done on improving Africa’s risk profile in order to maximise its trade appeal? How does Asia compare in this regard?
What role has the increasing popularity of local currency settlement played in south-south trade flows?

14.25 Stream B – Improving process efficiency and optimising working capital
Chair: Martin Knott, Managing Director, Head of Trade & Supply Chain Finance, Bank of America Merrill Lynch

14.25 Changing attitudes towards working capital and supply chain management
Moderator: Tim Evans, Head of Global Trade & Receivables Finance, HSBC Group
Arif Choksy, Chief Financial Officer, Dubai Cables Company
Amr El Haddad, Executive Director, Head of Product, MENA, J.P. Morgan
Digby Bennett, Regional Director, Middle East, Africa & Australia, China Systems
Lloyd Caughey, Director, Transaction Service Origination, International Banking, RBS
Huny Garg, Director, Head of Corporate Product Management, Transaction Banking U.A.E., Standard Chartered

Has the market seen increased corporate demand for supply chain integration in terms of controlling cash flow, managing payments and enhancing working capital efficiency?
Is the supposed migration away from LCs to open account transactions being witnessed in the MENA region? Is this more the case with multinationals rather than SMEs?
Considering greater geographical complexity in an increasingly diverse supply chain: Is it best to adopt a ‘solutions-based’ approach when serving the local market?
Expanding the supplier base and utilising SCF programmes to alleviate supplier capital shortages
What role does the adoption of electronic presentation play in terms of reducing manual processing costs?
Comparing awareness and demand across the region and bridging the gap in terms of technological adaptability

15.15 Industry update: Providing the latest insights on the Bank Payment Obligation (BPO)
Moderator: André Casterman, Head of Corporates & Supply Chain Markets, Swift
Imre Gorzsas, Assistant General Manager, Extended Network & Transaction Banking, Qatar National Bank (QNB)
Sanjoe Mathew, Associate Director, Customer Financing, Middle East, Huawei
Gergely Abraham, Head of Structured Finance, Middle East & Africa, Nokia Siemens Network
Vineet Gupta, Treasury Manager, Octal petrochemicals

What are the main benefits to be gained from market adoption of the BPO?
Balancing the middle ground between the security of the LC and the simplicity of open account
Industry alignment on rules and tools to support the standard delivery of financial supply chain services
ICC adoption and the establishment of the BPO as an accepted market practice

16.05 Networking break

16.30 Does there need to be a change in mindset within the banking sector to better serve SMEs?
Moderator: Nilanjan Ray, Senior Vice-President & Head of Business, Abu Dhabi Commercial Bank
Ehsaan Ahmed, Global Transaction Services & SME Head, Noor Islamic Bank
Madhavan Rajagopalan, Executive, Trade Finance Products, National Bank of Fujairah
Maninder Bhandari, Managing Director, Encore Solutions

With many European banks withdrawing and local banks constrained do SMEs risk being left behind?
Looking at how local and international banks are working together to diversify their offerings and utilise their respective strengths
Do SMEs think that banks are too conservative in how they approach lending? If so then what needs to change? What role can non-bank actors play in this?
Improving the quality of credit information available to banks and encouraging lending to private companies rather than SOEs
What role can structured and supply chain finance play in mitigating the risk of lending to an SME? Can clients be better educated on this?
Are banks setting up more SME-specific units and what role can governments play here?

17.30 Close of Day One followed by evening networking reception

Day Two

February 19, 2013

08.15 Coffee and networking

08.55 Chairman’s morning remarks
Ian Rogers, Regional Head of Business Development, GTRF, MENA, HSBC

09.00 Is Islamic finance reaching its potential in trade?
Moderator: Paul Boots, Director Tradeflow, Dubai Multi Commodities Centre (DMCC)
Ehsaan Ahmed, Global Transaction Services & SME Head, Noor Islamic Bank
Hani Salem Sonbol, Deputy CEO, International Islamic Trade Finance Corporation (ITFC)
Khurram Hilal, Head of Islamic Products, Standard Chartered Saadiq
Abdel Rahman Eltayeb Taha, Chief Executive Officer, ICIEC
Gohar Bilal, Executive Director, Islamic Product, MENA, J.P. Morgan
K. Nizardeen, Head of Trade Services, Al Hilal Bank

Is pricing still the fundamental issue when it comes to wider uptake of Islamic trade finance?
How wide has been the adoption and demand for products to be made available across the region?
With most large institutions now having Islamic finance divisions, what role is there for more specialist providers?
Developing Islamic finance structures as a way of extending access to liquidity in certain transactions
Has increased growth of Islamic finance across Asia and Africa broadened its appeal to international corporates?
Examining the role of Islamic multilaterals in providing innovative structures to make Islamic trade finance accessible and facilitate trade flows

10.00 Sanctions: The pitfalls involved
Stephen Tricks, Partner, Clyde & Co

Sharing first-hand experiences of the challenges faced when doing business
Working with policy makers and legal experts to better protect your interests
Remaining vigilant: Understanding the full range, extent and impact of legislation
Where are the potential hotspots in light of recent political change in the MENA region?
Seeing the bigger picture: Wider implications for key trading partners as a result of sanctions

10.30 Alternative financing options for businesses: Increasing the growth of factoring in the GCC
Moderator: Margrith Lutschg-Emmenegger, President, FIMBank
Fidaa Haddad, Managing Director, Head of Origination, Mubadala GE Capital
Karim Nasrallah, Managing Director, The Lebanese Credit Insurer
Sanjoe Mathew, Associate Director, Customer Financing, Middle East, Huawei
Bassam Azab, Regional Head of Business Development, GCC, Menafactors
Catherine McDougall, Senior Legal Consultant, DLA Piper Middle East LLP
•   Assessing the regional trade flows and characteristics of SMEs across the supply chain
•   Developing factoring-compliant products to aid trade facilitation on open account terms: What are the key hurdles and pitfalls that have hindered growth?
•   Examining the relationship between large corporates and their SME suppliers/agents: Where can factoring fit in?
•   Considering the role that credit agencies have to play as the ‘cornerstone’ of the factoring model
•   Improving bankruptcy laws, increasing expertise and growing familiarity with the factoring product
•   Looking at increased focus on growing the SME sector and why the controls and recourse provided by factoring are appealing

11.15 Networking break

11.45 Capitalising on the GCC infrastructure boom
Moderator: Andreas Klasen, Partner, Head of Export Credit Guarantees, PricewaterhouseCoopers
James Finucane, Manager, Project Finance, Emirates Steel Industries
Piers Constable, Director, Head of Coverage, Middle East & Africa, GTS, Deutsche Bank
Bimal Desai, Partner, Allen & Overy
Mohammed Owais Diyan, Head of Operations, Dubai Office, ICIEC
Nabil Kadasa, Vice President, Global Trade Finance, Saudi Arabia, J.P. Morgan
•   Observations on the increase in government projects being undertaken and the role of ECAs in supporting national interests
•   Have local banks had to change their internal operations to undertake a bigger role in project finance? Has this meant a need for hiring specialists with experience?
•   What has been the impact of the Arab Spring in terms of project demand? Is there sufficient risk appetite to meet it?
•   What are the main questions corporate financiers should be asking when seeking project financing?
•   New options: Increases in multi-currency loans and hybrid structures incorporating syndications and bond refinancing
•   Are some banks looking to shrink their balance sheet by selling deals to institutional investors having originated and structured them?

12.30 Multi-banking in trade finance: Achieving standardization
Bob Blower, Global Head of Payments, Cash Management & Trade Products, Standard Bank
André Casterman, Head of Corporates & Supply Chain Markets, Swift

Assessing the centralisation of trade flows to improve working capital management
Adopting multi-bank industry standards as a way for banks and their clients to reach a win-win solution
Implementing a multi-bank multi-instrument trade management system
Growing adoption in the trade finance industry and examining the roles of organisations

12.55 Acceptable risks: Are banks and corporates now much more careful about the business they are involved in?
Moderator: Toby Heppel, Divisional Director, Political, Credit & Financial Risks, RFIB
Abhishek Chhajer, Senior Underwriter & Head of Trade Credit Division, Asia Pacific, Markel International
Rainer Hofmann, Senior Underwriter, Swiss Re Corporate Solutions
Gregory Lehenand, Regional Business Development Manager, Coface Emirates Services
Ibrahim Malleck, Head of Client Management, Global Trade & Receivable Finance, HSBC Bank Middle East
Will Clark, Head of Trade Credit, UK, AIG
Massimo Falcioni, Chief Executive Officer, GCC, Euler Hermes
Khemais El-Gazzah, Director of Operations, ICIEC

Are banks in countries impacted by the Arab Spring now recognising the need to have suitable coverage?
Reflections on the popularity of specific insurance products, including insuring risk when entering new markets
Assessing the benefits provided by having a wide spread of clients when negotiating pricing
Is more corporate coverage now required in the current climate for the GCC and wider region?
Using Basel-compliant insurance as collateral when negotiating pricing rather than just as a risk mitigation tool
Have significant measures been taken to improve the quality of credit information available in the marketplace?

13.45 Chairman’s closing remarks followed by networking lunch

The Cool Connection, Supply Chain Simulation

Finance Meets Supply Chain

February 19, 2013
09.00 - 17.00

This workshop is structured around an innovative web-based game called The Cool Connection. It engages participants in making strategic decisions in the management of a manufacturing company specialising in personal care products.

Working in teams of four, participants will represent the functional roles of sales, purchasing, supply chain and finance. They will be confronted with various real-life, real-time dilemmas. Cross-functional understanding and collaboration are key components, as teams work together to turn the company around.

"It is a challenging test of decision making, commercial awareness and learning agility that requires each individual to understand the impact of their role and actions on the profi tability of the whole business. It also off ers an excellent opportunity for networking and learning best practice from other businesses."

Adam Lockwood, MARS (UK)

There are a limited number of 40 participant spaces available, so early booking is strongly advised.

Topics covered in the training:

SUPPLY CHAIN MANAGEMENT

Aligning supply chain strategy to competitive strategy

Cost efficient versus agile supply chains

Principles of inventory management and safety stock

Warehouse optimisation, lot sizes and production intervals

PURCHASING

Managing delivery reliability and supply chain risk

Supplier selection and delivery windows

Trade unit and modes of transportation