Third Party Event

05 Sep 2018 - 06 Sep 2018

Industry veterans headlining CRS 2018 include: H.E. Ahmed Abdullah Al Alsheikh, Deputy Governor – Supervision, Saudi Arabian Monetary Authority; Majed Essa Ahmed Al Ajeel, Chairman, Kuwait Banking Association & Burgan Bank; Manoj Chawla, General Manager – Risk, Emirates NBD; John Iossifidis, CEO, Noor Bank; Bharat Manwani, Head of Loan Management Unit, HSBC Bank Middle East Limited; Naveed Kamal, Managing Director, Citi Bank N.A.; and Ravi Murthy, CFO, Arabtec Construction, among others.

IFRS-9, implemented from January 2018, requires banks worldwide to set aside provisions for expected loan loss. Thus, a challenging period is ahead for banks as they work to adhere to the new regulation and operate with lower amounts of capital. This regulation comes in the midst of pressure from growing NPLs. On the other side of the coin are corporates that default on loan repayments and resort to financial restructurings with lenders, which range banks, mezzanine financiers and investors. Piling debts and loan defaults have become commonplace in the region’s contracting, real estate, insurance and energy sectors.

As the region’s first conference addressing two high-stakes areas, CRS 2018 aims to facilitate dialogue between banks, corporates, regulators, and legal and advisory firms to optimize debt restructuring for businesses while establishing effective NPL strategy for banks.

Features of CRS 2018 include keynote addresses on effective management of distressed assets; a high-profile CEO debate on resolving the GCC’s issue of accumulating bad debt; panel discussions focused on effective debt restructuring, mergers and acquisitions, IFRS-9 and trends in consolidation; and case studies “Analyzing major credit failures in the Middle East”.

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