Author: OBG Admin

Sheikh Ahmad Duaij Jaber Al Sabah-Chairman-Commercial Bank of Kuwait

Greater certainty: New rules to ease access to credit and strengthen creditors’ enforcement rights

Posted OBG AdminPosted in Uncategorized

  Recent legal developments in the kingdom have been marked by the reform of the pledge regime introduced by Law No. 21-18 relating to security over moveable assets, which entered into force on April 22, 2019. In a effort to ensure better access to financing for companies, the reform broadened the guarantees they are able to give to their creditors, in particular real estate security interests. It also adapted the pledges regime to existing practices and introduced certain new mechanisms relating to pledging. Covered Areas First, Law No. 21-18 extended the areas of pledges, which now cover all property, whether real or personal property, or

Mohammed El Etreby-Chairman-Banque Misr

Breath of fresh air: Investors turn to green bonds to finance clean energy and sustainable construction projects

Posted OBG AdminPosted in Uncategorized

  As businesses and governments worldwide seek to finance the vast investments required for projects to combat climate change and make the global economic model more environmentally sustainable, green bonds have become a popular capital market vehicle. The products are typically structured like a corporate or sovereign bond and asset-linked, but are used to raise money exclusively for sustainable climate and environmental projects. Interest in the environmental, social and corporate governance agenda has also been an important driver of the segment’s expansion. As of early

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

By the book: Market matures with new sharia-compliant offerings

Posted OBG AdminPosted in Uncategorized

  In the years since Morocco introduced sharia-compliant financial services in early 2017, local players have grown significantly and cultivated a strong market with diversified offerings, including various banking products, Islamic bonds (sukuk) and Islamic insurance (takaful). “Islamic banks, takaful companies, the regulator and other stakeholders are working closely to complete the Islamic financial services ecosystem and strengthen the tools available,” Fouad Harraze, managing director of Al Akhdar Bank, told OBG. “There is now a more defined framework that will facilitate swift maturation and lead to major achievements in the future, especially given the strong demand we have noticed in the retail and small business

Amin Al Husseini-CEO-Oman Arab Bank

Key player: Morocco has made significant progress in strengthening both regional and global partnerships

Posted OBG AdminPosted in Uncategorized

  In recent years Morocco’s foreign policy objectives have focused on spearheading intra-African cooperation, combating extremism and positioning itself at the centre of Europe-Africa relations. On these three and other fronts, the kingdom made notable progress in 2019. EU Partnership Trade relations between Morocco and the EU – the kingdom’s main commercial partner – improved in early 2019 after the EU gave final approval to a new fisheries agreement. In March 2019 the Council of the EU, the upper house of the European legislature, adopted

George Richani-CEO-Al Ahli Bank of Kuwait

Digital education: Public and private sector actors leverage local human resources

Posted OBG AdminPosted in Uncategorized

With a young, English-speaking workforce that benefits from solid higher education and technical training infrastructure, Trinidad and Tobago is well positioned to advertise its human resources to potential investors. According to data compiled by T&T’s Central Statistical Office, in the second quarter of 2019 an estimated 37% of the population was aged 24 or younger, pointing to considerable potential to equip the next generation to meet the demands of an increasingly tech-focused labour market. Already, around 400 students graduate each year from local universities with degrees related to ICT. With T&T putting itself in a position to become a regional centre for business process outsourcing,

Éric N’guessan-Managing Partner-EY Côte d’Ivoire

Dual approach: Unique island offerings require distinct promotion methods

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In 2017 the government dissolved the Tourism Development Company and formed two new organisations in its place: the Tobago Tourism Agency (TTA) and the Tourism Trinidad Destination Management Company Limited (TTL). The bodies were established to promote each island as its own independent tourist destination, with Trinidad focusing on meetings, incentives, conferences and exhibitions (MICE) visitors, and Tobago targeting the leisure market. However, the two agencies have been somewhat slow to establish their own brand and campaigns following the reorganisation, impeding progress towards the government’s vision of diversifying the economy through sustainable tourism. Sector Objectives The Vision 2030 strategic development plan outlines the objective of

Éric N’guessan-Managing Partner-EY Côte d’Ivoire

Appetite for growth: The medicinal cannabis and chocolate segments show promise as agriculture targets much-needed foreign exchange

Posted OBG AdminPosted in Uncategorized

Alongside tourism and financial services, agro-industry is an area that holds significant potential for diversification and growth in Trinidad and Tobago’s economy. With a rich tradition of agricultural production and a climate that facilitates the cultivation of a number of cocoa hybrids, the sector has long been earmarked as a potential driver of growth. Furthermore, both raw and processed agricultural exports represent a vital source of much-needed foreign exchange. Current State Agriculture contributes less than 1% to GDP but employs 3% of the population. Flooding

George Richani-CEO-Al Ahli Bank of Kuwait

Safe harbour: The country looks to position itself as a regional centre for liquefied natural gas bunkering amid more stringent environmental rules on shipping fuel

Posted OBG AdminPosted in Uncategorized

In recent years Trinidad and Tobago’s maritime industry has witnessed changes that are sending ripples around the globe. New regulations, new technologies and changing trade volumes are altering the game, and several indicators show the country stands to benefit. A report released in August 2019 by investment firm First Citizens Research & Analytics outlined how T&T is well placed to capitalise on recent changes. On January 1, 2020 new International Maritime Organisation rules came into effect aimed at reducing sulphur oxide emissions. These regulations prohibit

Emmanuel Macron-President of France

Better together: Authorities plan for the introduction of a new regional currency

Posted OBG AdminPosted in Uncategorized

  When the country’s central bank, the Bank of Ghana (BoG), was first granted the independence to set interest rates in 2002, it faced a turbulent economic scenario, in which the level of inflation had pushed past the 60% mark. Since that time the authority has wielded its rate-setting power to control inflation in the interests of society and the economy, each year establishing a target corridor that it deems to be suitable for this purpose. The seven members of its Monetary Policy Committee have tackled a relatively high inflation environment for much of the past decade, with the headline rate traversing a corridor of

Emmanuel Macron-President of France

Game-changer: New trade deal lays the groundwork for acceleration of integration and intra-continental trade in Africa

Posted OBG AdminPosted in Uncategorized

  Although trade flows among African states remain below their potential, an ambitious project is under way to accelerate economic integration and significantly expand intra-continental trade. Spearheaded by the African Union (AU), the African Continental Free Trade Area (AfCFTA) agreement was signed in March 2018 and aims to substantially reduce both tariff and non-tariff barriers to trade. As of December 2019 the AfCFTA had the backing of 54 out of the 55 member states of the AU. Major Deal The agreement stands to make the