Global Trade Review’s Middle East Trade Finance Week 2014 took place in Jumeirah Emirates Towers, Dubai from 25 to 27 February 2014. The event incorporated the 11th Annual Middle East Trade & Export Finance Conference alongside various stream sessions, roundtable discussions, workshops and networking events. The conference was attended by various market participants and trade finance professionals including, regional and local banks, credit insurance providers, commodity traders and financiers, large and medium sized exporters and multilateral credit agencies.
Partner Mamoon Khan from Al Tamimi’s Banking and Finance team participated as a panelist in a discussion related to the legal and regulatory aspects of trade finance in the GCC and the greater MENA region and was titled ‘Changing priorities: Has there been a shift in mindset on the issues of risk, regulation and compliance’. Mamoon discussed the issues faced by trade financiers and banks in dealing with the regulatory aspects of the products offered in the region particularly the conflict between the regulatory treatment of such trade finance products (under Basel II and III) and their status under the municipal laws of the GCC and the greater MENA region. Mamoon also discussed the increased KYC and compliance requirements faced by banks and financial institutions in dealing with cross border export finance transactions in the region. The panellists included industrial experts from a leading bank, multilateral bank, credit insurer, compliance specialist and a leading regional corporate.