A major banking conference titled "2009 - Crossroads for Trade and Technology", opens in Dubai today with a challenging agenda to finalise the revision of international rules for demand guarantees.
Organised by the International Chamber of Commerce at the Dubai Chamber of Commerce and Industry, the three-day event will be attended by more than 500 delegates.
The topics of discussion are anti-money laundering regulatory initiatives and forfeiting.
The delegates will also analyse a major ICC study on turmoil in the trade fin-ance markets, "Rethinking Trade 2009".
This study, based on the results of a survey held last month, is expected to form the basis of a case for preferential treatment of short-term trade finance transactions by global regulators.
"The world financial community's eyes are on Dubai as this major ICC Banking Commission Conference opens in the emirate today. The delegates, who will be finalising the revision of URDG, will come out with a series of recommendations on reducing the effects of the current financial situation," said Hamad Buamim, Director General of the Dubai Chamber.
This prestigious annual event, which was held in Athens last year, comes as part of the Dubai Chamber's mission to represent, support and protect the interests of the business community in Dubai and will help promote Dubai as an international business hub.
He said that it is the Chamber's top priority to facilitate business, especially in adverse situations.
Source: Gulf News
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