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Day 1| September 2006 |
| 12:00 - 17:00 |
Registration |
| 19:00 - 20:00 |
VIP Reception |
| 20:00 - 21:00 |
Opening Ceremony |
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Guest Keynote Speaker - International Dignitary
Guest Keynote Speaker -Regional Dignitary
Guest Keynote Speaker - UAE Dignitary
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| 21:00 - 23:00 |
VIP Gala Banquet |
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Day 2 | September 2006 |
| 08:00 - 08:55 |
Morning Coffee |
| 09:00 - 09:55 |
Keynote Session: Transparency in Securities Markets |
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Within all sectors be they financial markets, financial services providers, or companies, there is a growing awareness that global capital mandates an environment that is open, transparent and encourages accountability. Improving transparency and reducing potential conflicts of interest within securities markets will radically affect how these markets’ operations will be structured and governed and how services will be provided.
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| 10:00 - 10: 55 |
Corporate Governance Codes |
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Regulatory authorities must push companies to articulate and publish clear governance frameworks they intend to implement. Corporate Governance Codes are a manifestation of the securities markets’ commitment to ensure that financial institutions operate to the highest standards of regulation and professionalism. |
| 11:00 - 11:55 |
International Standards and Best Practices |
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The application and implementation of international financial best practices will help foster the integration of local markets into the global financial system. This also includes implementing the Basel II conventions, and international accounting and auditing standards..
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| 12:00 - 12:55 |
Education and Awareness |
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Due to speculative portfolio flows and the lack of investment acumen and opportunities, there is a clear need to educate and train traders and investors, and provide them with the necessary training tools, skills, knowledge, strategies, psychology and trading discipline geared to transform individuals into innovative and experienced investors and traders. |
| 13:00 - 14:00 |
Lunch |
| 14:00 - 15:55 |
Concurrent Sessions |
Track A |
Track B |
| 14:00 - 14:55 |
Hedging -
The Slow Rise of Risk Management |
Foreign / International Investors and Traders
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The concepts of market risk management and hedging were until fairly recently almost unheard of in Middle Eastern markets. Now, the markets are certainly gearing up for an increased demand for derivatives, structured products and other exotics. Implementing Basel II conventions will also bring about greater risk management norms. |
Should GCC listed companies be more open to foreign shareholders? Should GCC exchanges be more open to foreign/international traders? According to the IMF, ‘Well-functioning equity markets would benefit from a broader participation of domestic enterprises as well as foreign investors’. |
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Track A |
Track B |
| 15:00 - 15:55 |
IPO’s, Privatization, and Equity Markets |
Investment InfrastructureHow to Bolster Investment in the GCC? |
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According to the IMF, the GCC countries have small, but growing, domestic equity markets. In the future, these markets would be called upon to play a more active role in resource mobilization and increased equity financing for the private sector. In fact, this would be a key element for the success of privatization programs in many of the GCC countries, which, in turn, would contribute to their efficiency by increasing their size and depth. |
The development of integrated equity markets in the GCC region would require greater coordination of regulatory and supervisory frameworks and an easier flow of capital between the countries (IMF). Countries and markets must address the need for compatible frameworks that are informed by key laws and regulations, such as bankruptcy laws, company laws and acts, foreign investment laws, incentives and protection, property ownership, labor laws and regulations, and taxation and duties. The goal is not necessarily to have one market but to unify the procedures and make the rules and regulations as comparable as possible. |
| 16:00 - 15:15 |
Coffee Break |
| 16:15 - 17:00 |
High Liquidity and High Oil Prices - Its Impact on Regional Financial Markets |
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The trend of higher oil prices has resulted in higher revenues and more government spending offen on highly embarking on ambitious projects, and thus adding to regional activities with expansionary fiscal policies. Regional markets are enjoying very high liquidity. Investors are relocating from international markets to domestic markets and are always on the lookout for new investments in these markets. What are the effects of these trends on the securities markets? |
| 17:00 - 17:45 |
Debate: An Equity Market Bubble? “What goes up must come down?”
Stability and Growth in the Securities Markets |
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Almost all Arab and GCC stock markets did well in the last two years. However, investors were abruptly reminded several times in 2005 that markets may go down as well as up. ‘Market corrections’ wiped out huge chunks of various markets’ values, while other markets have shown an almost uninterrupted downward trajectory. Most markets look jittery every now and then, with a growing suspicion among investors that the exuberant party witnessed by many of the Gulf markets so far may already be over. Hence the debate will focus on how GCC securities markets can counter these symptoms, promote long-term stability and growth in the market and economy, and maintain investor confidence. |
| 18:00 |
End of Conference |
