Wednesday, 07 November 2007
By Adel Al-Malki
RIYADH - The National Commercial Bank will host today the Middle East and North Africa Economic Forum sponsored by the International Institute of American Financial Sciences with the participation of more than 370 financial firms.
Abdulkareem Abdulnaser, Chief Executive Officer, National Commercial Bank, said, "We are pleased to be hosting this forum with the IIF. Our program will not only highlight critical global economic issues; it will also focus on major regional trends in the Middle East," he said. He said the forum aims to put in perspective the recent developments and prospects in the oil market, the domestic economic challenges in Saudi Arabia, the United Arab Emirates, Egypt, Lebanon and Syria. It will also highlight important financial market challenges.
"The program is unique given the outstanding group of presenters who are coming to Riyadh for this very special event." Abdulnaser said.
The meeting will start with a set of overviews by IIF experts on the critical challenges confronting the global economy. Experts will discuss the latest IIF forecasts for the global economy and review how the markets are coping with the recent turmoil that was triggered by the US subprime mortgage crisis.
In addition, IIF Asia-Pacific Department Director Gregory Fager will discuss the continuing Chinese economic boom and its implications for the global economy and the Middle East.
Special keynote addresses are to be given by His Excellency Mohammad Al Sabban, Deputy Oil Minister, Saudi Arabia; Gerd Haeusler, Vice Chairman of Lazard Frères and a former senior official at the International Monetary Fund; and by Mr. Richard Gnodde, Chief Executive Officer of Goldman Sachs International.
A panel will also discuss economic prospects for Middle East and North African countries.