Arab Investors Add Asian Countries To Their Radar Screens

Arab Asian Financial Forum declares the oil boom and excessive cash as the main reasons behind the Arab invasion of the Asian continent

The 2nd Annual Summit of the Arab Asian Financial Forum (AAFF) was held in Kuala Lumpur on September 5 and 6, 2007. Many important issues pertaining to Arab world developments in Banking, Finance, Trade, Investment, and Potential Synergistic Opportunities in Arab Asian regions were discussed during the two days event. The summit was attended by leading economists, bankers, and business leaders from Arab and Asian regions. “I must congratulate Cedar Hills Event Management Co. and its team for putting up a first class and very professional program”, commented Gurmit S. Sidhu, Managing Director of Abundance Venture Capital.

At Kuala Lumpur, The Arab Asian Financial Forum Organizing Committee has selected new members of the board of The Arab Asian Financial Forums: Mustafa Ebrahim Al-Saleh, CEO, Deputy Chairman & Managing Director of Adeem Investment Company and Yassir Albaharna, CEO of Arab Insurance Group (Arig).

At an award ceremony that took place on the first day, Mustafa Ebrahim Saleh won the prestigious Arab Asian Financial Distinction Award. The award underlines Saleh’s financial expertise which has allowed Adeem to be awarded for best innovative Islamic financing structure and for structuring the first convertible sukuk.

Arab Asian Financial Excellence Awards were given to: Nida'a Al-Momin, Senior Vice President, Wealth Management of Adeem Investment Company; Yassir Albaharna, CEO of Arab Insurance Group (Arig); Sheikh Abdulaziz M. Al-Abdulkader, Owner of AMA Group of Companies and Chairman of Osool Capital; Mohammed Ebrahim Mohammed, Acting Chief Executive Officer of Bahrain Islamic Bank and Dr. Salah Addeen A. Qader M. Saeed, Executive Director, Credit and Risk Management, received the award on his behalf; Salah Nooruddin, Chief Executive Officer of Investate Realty and the award was received on his behalf by Abdulla Alhamid, Executive Director, Business Development; Sayyid Nassir Bin Salim Al Busaidi, Director / President (General Ins.) of Oman United Insurance Co.

Arab Asian Financial Recognition Awards were given to: K. Salman Younis, Board member and M.D. Kuwait Finance House (Malaysia) & Kuwait Finance House Regional Head for Asia-Pacific; Fouad Hayel Saeed, Managing Director of Pacific Inter-Link; Mohamed A. Buqais, Chief Executive Officer of Sorooh Investment Company; Faisal Alshowaikh, Chief Executive Officer of Asian Finance Bank; Mohammed Hassan Al Theeb, Chief Executive Officer of Salalah Free Zone Company and Dhafer Alqahtani, Co-CEO & CIO of Arbah Capital.

The summit tackled wide ranging issues such as synergistic opportunities in the Arab Asian region towards trade, investment and finance, Islamic banking developments in the Arab world, Islamic banking developments in the Asian region, Real estate finance and development, insurance, and economic integration perspectives. At this year’s 2nd summit, His Excellency Osama Saleh, Chairman, Mortgage Finance Authority of Egypt, welcomed the gathering and dwelled upon the need to have stronger ties for overall prosperity of the entire region. He was optimistic that the discussions addressed many key issues of relevance in both regions.

Unlike previous regional financial and investment conferences, the 2nd Annual Arab Asian Financial Forum introduced for the first time a new and important topic: ‘Alternative and Renewable Energy, its financing requirements and important role in preserving the region’s oil reserves, reducing CO2 emissions and global warming.’

The 2nd Annual Summit of the Arab Asian Financial Forum was supported by big names, including Adeem Investments Co. as a diamond sponsor, Investate and Bahrain Islamic Bank as gold sponsors and its Executive Director - Credit & Risk Management, Dr. Salah Addeen Saeed, talked about “Developing Financial Products in Islamic Banks in Bahrain”. Others names include Intaj as a silver sponsor. Capital Management House, Osool Capital, Sorooh Investment Company, Trust International Insurance and Reinsurance Co., and Tadhamon Int’l Islamic Bank were bronze sponsors. Side sponsors included Qatar General Insurance and Reinsurance Company, Asian Finance Bank, Reef, and Gulf Takaful Insurance Company.