Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank (EDB), has called on the local and regional banking community to increase access to corporate finance and accelerate the UAE’s economic recovery.
Speaking on the opening day of Bonds, Loans & Sukuk Middle East 2022, which took place at Madinat Jumeirah, Dubai, Al Naqbi highlighted the role of financial markets in driving growth and innovation, and explained how EDB’s tailored, flexible financing solutions, with a focus on developmental impact, is delivering tangible benefits to the national economy, according to media reports.
Bonds, Loans & Sukuk Middle East Bonds hosted 70-plus speakers, 550-plus sovereign, corporate and financial institution borrowers and 200-plus investors and lenders – with 93 percent of the attendees at director level or above.
Al Naqbi also underlined the challenge both large corporates and SMEs continue to face in securing the finance they require to expand their businesses, and restated EDB’s commitment to forging partnerships to mobilise capital in support of the UAE’s economic diversification and industrial transformation agenda.
“What our economy needs now is long-term, sustainable and future-proof growth. And we in the credit business have the power – and the responsibility – to ensure our corporations, our SMEs and our start-ups have access to the finance needed to fuel it,” Al Naqbi said.
“Our mission at Bonds, Loans & Sukuk Middle East is to demonstrate our readiness to work alongside financial institutions, government bodies and development agencies to offer direct and indirect financing to companies in priority sectors. It’s this network of partners that enables us to identify the right clients and projects and move quickly to bring their development plans to reality – and accelerate our impact on the UAE economy,” he said.
Held over two days, Bonds, Loans & Sukuk Middle East is the region’s largest gathering for the corporate and investment banking industry.