ABK gold sponsor of Kuwait Financial Forum

Al-Ahli Bank of Kuwait (ABK) recently announced the Bank’s gold sponsorship of the Kuwait Financial Forum, whereby Michel Accad, ABK Group CEO and Somnath Menon, Group COO will be panelists at the event. The Forum will be held under the patronage of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah on 4 & 5 April 2017, at the Sheraton Hotel-Kuwait.

Organized by the Kuwait Banking Association, in collaboration with Al-Iktissad Wal-Aamal Group, the Kuwait Financial Forum addresses new economic conditions, most importantly the falling oil prices and the entry of government budgets in the deficit phase. It also touches on the increasing signs of continued international economic slowdown and the increasing challenges of compliance with international laws and regulations related to fighting money laundering, terrorism financing, tax evasion and corruption.

Michel Accad will be speaking during the ‘Outlook of Gulf Banking Industry’ session. The session will address six major topics, namely; ‘Challenges of the banking industry in an environment of slow growth’, ‘Declining government and tight liquidity’, ‘Challenges and opportunities of economic reform’, ‘How can a bank face the risks of declining assets quality and rising NPLs?’, ‘Prospects of banks mergers in the Gulf’ and last but not least, ‘Future of foreign banks in the Gulf markets’.

Somnath will be speaking during the session entitled ‘GCC banks in the Era of Digital Transformation’. The session will address four main areas, which are ‘Global trends and developments in digital banking’, ‘GCC banks digital strategies’, ‘Impact of electronic services and digital platform son services, cost structure and customers’ and‘ The rising threat of cyber security ’.

ABK is keen to contribute to the development of the banking sector, by sharing its expertise and knowhow, and by participating in discussion forums that yield in effective solutions that add value on a national and regional level.