Global economy to top agenda at ICC Banking Commission meeting in Qatar
Source: BI-ME , Author: Posted by BI-ME staff
Posted: Mon February 20, 2012 11:01 am

QATAR. The International Chamber of Commerce (ICC), in association with diamond sponsor Qatar National Bank (QNB), will host its biannual ICC Banking Commission Meeting in Doha, Qatar on 25-29 March 2012, with some 400 banking leaders and executives from 50 countries expected to attend. 

This year’s event, entitled “Reframing the Future of Trade Finance”, is designed to take stock of the current volatile economic climate, and will feature recent ICC market intelligence on trade finance, as well as discussions on ICC works-in-progress, such as the International Standard Banking Practice revision, the drafting of Bank Payment Obligation and forfaiting rules and a review of Basel III. A special Arbitration and Banking Summit will be held on the final day.

The meetings will also include consultations with heads of global trade from major international banks on ICC’s G20 policy input.

Part of a series of regional consultations led by the ICC G20 Advisory Group around the world, the experts at the Doha meeting will help to frame business positions on stimulating jobs and growth, ahead of the upcoming G20 Summit in Mexico. Since its creation in May 2011, the G20 Advisory Group has been leading the development of ICC policy input to the G20 process in areas including: trade and investment, financial regulation, anti-corruption, the international monetary system, commodity price volatility and green growth.

“Twice a year the ICC Banking Commission meeting brings together bankers, business leaders, finance experts and government officials to encourage dialogue, make policy recommendations, and develop rules to improve trade finance,” said Kah Chye Tan, Chair of the ICC Banking Commission.

“Market conditions going into 2012 are grim. Bankers and traders are facing eroding confidence in volatile markets,” Mr Tan added. “The ICC Banking Commission has carefully selected a world-class line-up of leading experts in trade and finance to help decipher today’s mixed economic messages.”

This year’s meeting will also feature a special focus on the Middle East & North African Region (MENA), and on Qatar in particular – one of the fastest growing economies in the world.

“Despite the global economy, it is an exciting time to do business in Qatar, thanks to the opportunities created by massive public and private investment in various industry sectors,” said His Excellency Sheikh Khalifa bin Jassim bin Mohammad Al-Thani, Chair of ICC Qatar.

“It is important to highlight the concrete business opportunities this affords and indeed the path of change across the whole MENA region,” H.E Sheikh Khalifa said.

International speakers and panelists at the Doha meeting include Neil Esho of the Basel Committee on Banking Supervision, and Akshay Randeva, Director Strategic Development of Qatar Financial Center, as well as representatives from The World Bank, International Finance Corporation, European Bank for Reconstruction and Development, Asian Development Bank and International Monetary Fund.

The five-day event will take place at La Cigale Hotel, Doha.

About the ICC Banking Commission
The ICC Banking Commission is a leading global rule-making body for the trade finance industry. The Banking Commission is known for producing universally accepted rules and guidelines for documentary credits, documentary collections, bank-to-bank reimbursements and bank guarantees. ICC’s voluntary market-based approaches have often been praised for leveling the playing field in trade finance practices. The ICC Banking Commission is also a unique forum where business and policy makers work together to address the global challenges of trade and finance. The Banking Commission is at the forefront of efforts to understand and to help business respond to new developments and concerns in the regulatory sphere, such as the Basel regime, anti-money laundering and the challenges of facilitating international trade finance across boundaries, in particular in the developing world.

About the International Chamber of Commerce (ICC)
The International Chamber of Commerce is the largest, most representative business organization in the world. Its hundreds of thousands of member companies in over 120 countries have interests spanning every sector of private enterprise.
A world network of national committees keeps the ICC International Secretariat in Paris informed about national and regional business priorities. More than 2,000 experts drawn from ICC’s member companies feed their knowledge and experience into crafting the ICC stance on specific business issues.
The United Nations, the World Trade Organization, the G20 and many other intergovernmental bodies, both international and regional, are kept in touch with the views of international business through ICC.

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