EUROMONEY and The DIFC Open Annual Conference "Managing Superabundant Liquidity"Press Release30 Nov 2006 12:37 pm
INAUGURATED BY THE DIFC GOVERNOR AND HOSTED BY THE DIFC
Euromoney and the Dubai International Financial Centre (DIFC) today opened their annual conference, “Managing Superabundant Liquidity”,as part of the inaugural DIFC Week. The conference will explore the opportunities presented by superabundant regional liquidity, the causes of this phenomenon and the risks associated with it. It will also look at where this liquidity is invested, what regional investors are seeking and the role of investment banks.
The enormous amounts of liquidity currently flowing into the GCC bring several benefits and opportunities to the region’s economy, but also a number of potential threats. One of the DIFC’s primary ambitions is to manage and maintain this liquidity within the region to minimise these threats through a variety of initiatives and enterprises, such as the Dubai International Financial Exchange (DIFX).
His Excellency Dr Omar Bin Sulaiman, Governor of Dubai International Financial Centre said today: “The issue of superabundant liquidity is a most timely one, on both a regional and international level. Decision-makers and managers of the fast-growing financial services institutions in the region are being forced to address this phenomenon, while policy-makers and organisations around the world are watching these developments with keen interest. The decisions taken now will have a long-term impact over future economic growth and go a long way toward shaping the region’s emerging financial services sector. It is very important for the local economy, regional and international investors that the liquidity flows are invested wisely and that they contribute to our legacy of growth and development in the region.”
The high price of energy and growth in global demand, particularly from Asia, has fuelled huge opportunities for the MENA region. The conference will explore how secure these opportunities are and why this trend is now different from that of the previous bull run of the 1980’s. The speakers and panel will also discuss the causes and risks associated with such a reservoir of liquidity and what role the DIFC should play in channelling capital into high yield investments. In addition, the conference will study the role of investment banks in the region, discussing their contribution to the development of the region and how their role will develop over the coming years.
Panellists will further explore where the region’s liquidity is being invested and what investors in the region are actually looking for, as well as how new institutions intend to combine global investment with local economic development.
The conference will be hosted by His Excellency Dr Omar Bin Sulaiman, Governor of Dubai International Financial Centre (DIFC). Other key note speakers will include
- David Eldon, Chairman of the Board of Directors, DIFC Authority;
- Brad Setser, Head of Global Research and Senior Economist, Roubini Global Economics;
- David Hodgkinson, Group Chief Operating Officer, HSBC;
- Richard Meddings, Group Executive Director, Standard Chartered;