Kuwait Financial Forum Discusses Recovery From Worldwide Recession

By Al Madar, PRNE
Tuesday, November 2, 2010

KUWAIT CITY, November 3, 2010 - The second Kuwait Financial Forum was held this week under the patronage
of His Highness the Prime Minister Sheikh Nasser Al-Mohammad Al-Ahmad
Al-Jaber Al-Sabah (www.pm.gov.kw/index.asp). The Forum, organized by
Al-Iktissad Wal-Aamal group in cooperation with the Central Bank of Kuwait
and Kuwait Banking Association, explored ways to recover from the global
economic crisis.

Chairman of Kuwait Banking Association Hamad Al-Marzouq said the timing
of the event was meant to offer perspective and analysis for the recession
that has taken place during the last two years.

"The fluctuating growth rates and the soaring unemployment rates
particularly in the western countries provide evidence to the fact that the
world economy is still fragile and that the recent economic crisis was
similar to the Great Depression of 1930s," Al-Marzouq told the audience.

The two-day forum
(www.kuwaittimes.net/read_news.php?newsid=NzkzNjYzNzQ0) built on the
success of the first forum held last year, bringing together a number of Arab
ministers, senior leaders in the finance and banking industry, senior
economists, and executives of many banks and financial institutions in the
Arab world. Leaders of international banks active in the region were also
involved in the summit.

Participants covered a number of topics during the convocation, including
future rebuilding during the international financial crisis; the Arab
economies during the economic recovery; new regulations and the role of
central banks; challenges facing Arab banks from the economic slowdown, the
liquidity shortage, and the decline in asset values; and the financing
shortfall and its expected effect on future projects and business activity in
the region.

This has been issued by Al Madar. For more information, visit

Hani Megahed, +965-2266-6008

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