Gulf Will Be Primary World Financial Center

I have been telling you that The Gulf will emerge as the next big world financial center. With all the financial chaos going on in the USA and other parts of the globe right now it becomes clear to me that the new financial powerhouses of the world will be:

> The Gulf
> China
> India

This is where the growth is! As I stated in a previous post, the new mantra in the world of high finance is:

'Dubai, Shanghai, Mumbai....or Goodbye!'

So true.

And just look at some of the major Financial Mega Projects being built in The Gulf:

> Dubai International Financial Centre,
> Business Bay,
> Dubai Multi Commodities Centre,
> Bahrain Financial Harbour,
> RAK Financial City,
> King Abdullah Economic City,
> Barwa Financial District.

I was therefore quite delighted when I received an invitation to the Derivatives in the Middle East Conference to be held at Raffles Dubai, October 28-29, 2008. Here is a brief intro to the conference from Euromoney Seminars, the conference's creator:

'Derivatives and structured products in the Middle East are on the verge of an explosion. As GCC-based banks become more actively involved in global markets, the need for derivatives to hedge their exposure is categorical to the future growth of their business. Couple all this with the unprecedented growth of Islamic finance and the development of shari’ah compliant derivatives and structured products, the opportunities in the Middle East for derivatives bankers are unrivalled to anywhere else in the world.'

Here are some of the important issues that will be addressed at the conference:

> Assessing the liquidity of local derivatives markets with offshore markets – a practical comparison of sophistications across GCC markets.

> What derivatives trades are being approved by local regulators?

> What derivatives are permissible under shari’ah?

> How are asset managers and hedge funds employing derivatives to manage Islamic assets?

> What is the appetite for structured products and derivative-based investments amongst private bankers and high net-worth (HNW) individuals?

Here are some of the forums that will be given at the conference:

- Igniting the GCC’s equity derivatives boom – how are international investors using derivatives to tap into the region’s economic escalation?

- Setting standards within the framework of shari’ah – what are the ethical issues with Islamic derivatives?

- What risks are Islamic financial institutions exposed to and how are they being mitigated?

- Listed derivatives in the Middle East – a regional and international context.

- Managing a shari’ah compliant treasury – how are derivatives used by Islamic institutions to manage asset and liability risk?

- Demystifying Islamic derivatives – a practical comparison of cash flows in conventional swaps to shari’ah compliant structures.

More and more conferences like this are coming to The Gulf for one reason only-- the world fully understands that the The Gulf is becoming one of the most important financial centers on the planet!

This link takes you to the Derivatives in the Middle East Conference website:

http://www.euromoneyseminars.com/EventDetails/0/703/Derivatives-in-the-Middle-East-Conference.html