Business & Money | Monday 27 June, 2016 2:25 pm |

The upcoming 4th Annual Saudi Trade Finance (STF) Summit, organized by Dubai based QnA International has cemented its position as the premier gathering to discuss financial regulations, strategies and services development and trends shaping the economy and the business landscape in the Kingdom. The STF Summit is gearing up to be held in Jeddah, Saudi Arabia in November 2016. Previously, The STF Summit was held in Riyadh for three consecutive years. 

 

A by-invite only exclusive event continues to feature key stakeholders including: government and regulatory authorities, financial institutions, technology providers, trade credit insurers, consulting and advisory firms along with finance professionals from mid and large enterprises.  The platform is set to focus on enabling opportunities in the diversification of non-oil based economic development and services that will fuel growth in line with Vision 2030 for creating a thriving economy.

 

Banque Saudi Fransi, a platinum sponsor at the 2015 edition of the STF Summit has yet again confirmed its platinum sponsorship for the upcoming edition in November. Speaking on the importance of the Summit and the reasons for sponsorship, Mr. Anjum Noman Mirza, Head—Trade Finance Sales and Solutions Department, Corporate Banking Group, Banque Saudi Fransi, said, “Saudi Arabia is a large global trading partner, and the trade business is a dominant contributor to the country’s GDP. However, as global trade and markets evolve continuously, appropriate trade related solutions catered to clients through new concepts, products, and solutions need to be provided. But, the knowledge of these new methods is lacking in Saudi Arabia and the Middle East region. Our platinum sponsorship of the STF Summit is guided by our desire to help in the dissemination of knowledge.’’

 

Trade is an integral part of economies and businesses around the world and trade finance is an important tool for the smooth flow of international trade. “Trade finance provides the best medium and tool for businesses to venture into new markets. By using banks to provide the trade finance products and services to mitigate various risks associated with their new ventures, organizations can tap into new and diverse markets. In today’s world the quick cross-border trade solutions are a necessity. Trade finance conferences such as the STF Summit can increase awareness of the latest developments in this important field,’’ emphasized Mr. Mirza. 

 

Over the years, the STF Summit has created a firm reputation and strong foothold as Saudi Arabia’s premier and only trade finance gathering, making it a flagship event for the top 150 CFOs and other decision makers involved in trade finance from different industries in Saudi Arabia. At the Summit in November, there will be a shift in focus as the organizers move towards a platform of exchanging ideas on market trends, current situations and disruptions in trade finance transactions.

 

Explaining the need for focusing on trade finance in this manner, Sidh N.C, Director, QnA International, said, “Now that the Summit is in its fourth year, it has become a regular and well-attended event for those in trade finance. In the context of the global economy and forecasts for trade in the future. It is 

prudent for us to discuss the current outlook and emphasise on the diversification of the economy and the role of financial institutions in the Kingdom’s vision to achieve sustainable growth.” He further reaffirmed that “The platform will focus on how to implement and execute the ideation created from the summit.”

 

While echoing these sentiments, Mr. Mirza added, “Trade remains the core medium of business. Liquidity for corporates as well as lending institutions will be a major player in the economic conditions in 2016. The government’s effort to raise liquidity will be a key factor for the sustainability of its various development endeavours.” In general, there exists a liquidity gap in the region, which has hindered the progress of various businesses but especially SMEs. 

 

“Trade Finance is one of the best solutions for raising working capital. It has also become the first choice for financial institutions during economic downturns as most trade transactions ascertain short term maturities offering better liquidity management, are self-liquidating in nature, carry lower risk for the lender, and helps clients focus on their core business,” continued Mr. Mirza on the effects of trade finance for business operations. 

 

The STF Summit will bring together experts and decision makers ranging from C-level executives to senior professionals from finance departments across industries over a two-day period. The STF Summit will be held from 15-16 November 2016 in Jeddah, Saudi Arabia.