Dubai International Financial Centre extends full support for MEFX for the second successive year

Secure and cutting-edge technology is one of the most critical components of the global financial industry, says DIFC Authority CEO Al Awar

The Dubai International Financial Centre (DIFC) has once again shown its commitment towards the development and adoption of technologically superior platforms for the regional financial industry by extending its full support for the Middle East International Banking, Financial Technology and Services Exhibition and Conference (MEFX), for the second successive year.

The inaugural show was unveiled last year as the brainchild of the Dubai International Convention and Exhibition Centre (DICEC) and the DIFC. Like last year’s event, the MEFX will be held during the region’s greatest technological event, GITEX TECHNOLOGY WEEK, which will run at the DICEC from October 18-22, 2009.

The MEFX addresses the needs of the financial industry with a wide and varied product range that includes the latest technology for asset and wealth management, auditing, banking and financial software and hardware, business process outsourcing, cards and payments, consultancy, data provision, enterprise applications insurance, corporate banking, investment and Islamic banking and project financing solutions and ratings agencies and recruitment and training applications.

The event drawn top executives from the regional banking and financial institutions as well as the vendors of leading edge financial solutions. The welcome address presented by Abdulla Mohammed Al Awar, Chief Executive Officer of the DIFC Authority.

“Secure and cutting-edge technological platforms are one of the most critical components of the global and regional financial industry in today’s globalised and highly technology-oriented world,” Al Awar said.
“The banking industry has been built on trust and confidence and in today’s world of cyberspace and hackers and technologically advanced criminals, it is essential to combine the bedrock of essential security, operational efficiency and user friendliness, to be able to retain the trust of the public and the clients, he pointed out.

“The co-operation between the IT and the financial industry goes back to the days when the IT industry was seen as a Greenfield industry and required the support of the financial industry in face of general investor hesitation.

“Today, the financial industry is being paid back multi-fold,” said Al Awar.

“MEFX is one of the premier platforms where this nexus is apparent, alive and rewarding and we, at the DIFC, are glad to be part of its birth and its continuing success,” said the Al Awar.

“Dubai World Trade Centre is pleased to welcome DIFC as a key partner at this year’s GITEX TECHNOLOGY WEEK,” said Helal Saeed Almarri, CEO, Dubai World Trade Centre. “The banking industry is increasingly relying on technology to help consolidate and innovate their business and GITEX TECHNOLOGY WEEK allows for the convergence of these two industries at an important time.”

DIFC is supporting MEFX as part of its objective of promoting financial business events that showcase new products, technologies and initiatives that can drive industry development.

This year’s MEFX will provide an invaluable opportunity for the region’s decision-makers to debate and discuss the latest innovations and developments that will drive the industry’s future. The event also offers the region’s financial institutions an invaluable opportunity to ensure that all their infrastructure investments are based on a thorough understanding of the latest technological advancements.

MEFX also provides regional industry professionals the opportunity to share ideas and best practices with professionals in other markets. By creating a forum for financial technology vendors and industry professionals from around the world to share knowledge, MEFX supports DIFC’s objective of strengthening industry linkages between the region and other key markets.