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Sharjah Chamber Hosts Seminar To Help Local Businesses Expand Investment Portfolio Amid Global Financial Crisis


Event showcases importance of using investment tools to strengthen efforts in developing national economy










The Sharjah Chamber of Commerce and Industry (SCCI) hosted a seminar aimed at helping local businesses expand their current investment portfolios by utilizing newer investment tools and keeping track of the UAE stock market. The event, which was entitled ‘Financial Market Prospects Following the Impact of the Global Financial Crisis,’ was held in cooperation with the Abu Dhabi Financial Services (ADFS). The seminar is part of the local chamber’s strategic thrust towards the promotion and adoption of best practices and high standards to help strengthen the Emirate’s business community and bring Sharjah one step closer towards its goal of achieving total sustainable development.

Present during the event were Ahmed Mohammed Al Midfa, Chairman of SCCI; Mohammed Ali Al Serkal and Mohammed Salim Al Musharrekh, board members; Hussein Mohammed Al Mahmoudi, Director General of SCCI; Mohammed Ahmed Amin, Assistant Director General of Economic and International Affairs, SCCI; SCCI officials and board members, banking and financial sectors representatives from Sharjah and the rest of the UAE.

The seminar, which complements the strong commitment of SCCI and the ADFS to help Sharjah’s business community, advised participants on how to tap into potential market opportunities amid the current financial crisis that has managed to affect all industries worldwide. Participants were introduced to strategic solutions that included keeping track of the latest updates on the UAE stock market; making use of investment tools to expand business portfolios; aiming to reach sustained development and joining in the unified effort to strengthen the business community’s role in supporting the national economy.

Mohammed Ahmed Amin, Assistant Director General of Economic and International Affairs, SCCI, said, “This seminar aims to tackle an important and critical topic in today’s business community, which is how to develop and expand your business amid the global financial crisis. Discussions held during the seminar tried to identify what lies ahead for the UAE economy by analyzing the current financial and investment environment and the present regulations, procedures and legislation involved in doing business in the UAE. The financial crisis has had an adverse impact on various economic sectors, especially on the real estate industry and the banking and finance segment. The UAE however, has managed to minimize the effects of the crisis on the national economy by implementing effective policies like leveraging available resources and growth potentials and providing support to the private sector. The SCCI has organized this event to help support the government’s efforts to develop an integrated mechanism that aims to promote economic recovery and improve investor confidence.”

“Moreover, the chamber actively promotes the need to be aware of the changes in today’s local, regional and global markets. Being well informed of current market trends, news and developments, allows the SCCI to introduce and implement strategic initiatives that can help the local business community to face economic challenges and expand their businesses. Today’s seminar, which is being held in partnership with the ADFS and the National Bank of Abu Dhabi (NBAD), sought to discuss key developments and forecasts in the UAE financial market; actively promote the use of investment tools to help strengthen business and investment portfolios and encourage the private sector to reinforce their business ties with both the government and the banking and finance sectors to achieve more development,” Mohammed Amin added.

The ADFS lauded the SCCI and their continuing efforts to introduce and implement programs and initiatives that promote the adoption of best practices and high quality standards, which has helped in the efforts to package Sharjah and the UAE as prime business and investment destinations in the Middle East region.

Ziyad Dabbas said, “We are pleased to partner with the SCCI in helping organize this seminar. The event has served as an important platform for local businesses to discuss pertinent topics and issues in the UAE financial market. It has also allowed us to promote the use of investment tools as a means to help improve and expand investment portfolios and promote a culture of quality and excellence in today’s private sector. Rest assured, we will continue to work closely with the SCCI in its commitment to launch and implement joint initiatives, seminars and workshops that aim to serve the business sector and support the economic growth in the long run.”

The seminar, which featured a panel of experts and leaders in the field of business, finance and development, tackled the performance of the UAE stock market during the global financial crisis and the strategic moves that have helped the UAE recover from the economic slowdown.

Abu Dhabi Financial Services, a company wholly owned by National Bank of Abu Dhabi, provides brokerage services in the field of foreign and local stock exchange, as well as trading of goods and managing initial public underwritings. The company currently holds the major share of brokerage market in the UAE. Ayman Samawi discussed the different investment tools that are being offered by NBAD and the ADFS to corporate and individual investors, while Raed Abu Nahla talked about the Asset Management Group of the NBAD and Adib Dakkash showcased the concept and services currently being offered by the private banking sector. The discussions were followed by a networking session between the participants and the main speakers.

Since its establishment in 1970, the SCCI has strategically organized and conducted meetings, seminars and workshops with the Emirate’s different industries and sectors as part of its vision to aid in the efforts to develop Sharjah. Under its various programs and initiatives, the chamber aims to showcase Sharjah’s unique features and advantages as an ideal site for business and tourism opportunities and help in strengthening the Emirates economic development—bringing it one step closer towards its goal of achieving total sustainable development.
 

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