Under the patronage of Hamdan Bin Rashid Al Maktoum, Emirates Institute for Banking and Financial Studies hosts the 18th International Conference on Banking Institutes

Under the patronage of His Highness Hamdan Bin Rashid Al Maktoum, deputy ruler of Dubai and minister of finance, Emirates Institute for Banking and Financial Studies has organized the 18th International Conference on Banking Institutes under the theme "Changes at banking institutions over three decades" during the period of 3rd-5th of March, 2009 at Al Bustan Rotana-Dubai, where a large number of ministers, professionals and experts from (30) countries participated.

His Excellency Ahmed Humaid Al Tayer, chairman of the board of directors of the institute, has emphasized that patronage of the conference on the part of His Highness Hamdan Bin Rashid Al Maktoum, deputy ruler of Dubai and minister of finance would confirm the interest and support of His Highness for the sake of promotion and progress of banking, financial and educational institutions in the UAE. He has also extended his heartfelt thanks and appreciation to His Highness for patronage of the conference and promoting of intellect and man.

Furthermore, His Excellency Ahmed Humaid Al Tayer has also stated that this conference is the first of its type that is organized by the institute on the level of the Middle East and Arab countries. This conference dealt with the banking and financial situation and role of the banking institutions on the international level. He has also touched upon the key strategies on human resources management and development of effective teams in talents management and the current situation of the Islamic banking sector.

In addition, he has also added that the conference is characterized by the vital issues it presented and its good timing as well. In fact, it was held amidst a global financial crisis that directly affected the financial and banking sector on the local and international level. This conference represents a unique forum for the business and finance sector in the UAE, the Gulf and the entire region for the purpose of communication, meeting each other and exchange of ideas and expertise with elite of world bankers and experts. This would help diversify, widen and benefit from knowledge, and expertise. He has also said that having the conference held in Dubai has also added more significance for what Dubai represents, as it is a safe host of local, Arab and international banks and an important investment and commercial hub for the region and the world as well.

On his part, Jamal Al Jasmi, General Manager of Emirates Institute for Banking and Financial Studies pointed out that holding the 18th Conference on Banking Institutes comes as part of the continued efforts made by the Emirates Institute for Banking and Financial Studies. The ultimate objective of such conference is to discuss horizons, aspirations and situation of banking sector and financial and banking institutions on the local, regional and international level including any developments whether on the level of the current situation or in the future as well as any local or international changes facing the banking and financial sector.

Furthermore, Al Jasmi has also stated that timing of the conference has gained further importance, especially amidst the global financial crisis that emerged in September of 2008. This crisis started from the USA with the beginning of mortgage crisis and the failure of the large financial and banking institutions in the USA, which rapidly developed into a global credit crisis. Such credit crisis caused critical contraction and drop in the area of international trade, failures of a number of international banks and stocks indexes around the globe, which created the problem of cash shortage.

About the objectives of the conference, Al Jasmi pointed out that the conference is aimed at analyzing the changes in the banking and financial sector during the last three decades, and underlying effects on the financial and banking institutions as well as exploring success strategies that can be implemented and used at banking institutions. He has also stated that some of the key advantages for organizing this conference is the great sponsorship provided by (20) banking and financial institutions. This would confirm their participation in and support for this key event, representing official sponsors including HSBC, NBD, Commercial Bank of Dubai, MashreqBank, Emirates Islamic Bank, Noor Islamic Bank, Dubai Islamic Bank, National Bank of Abu Dhabi, Lloyds Bank, Standard Chartered Bank, National Union Bank, Mawared Finance Company, Al Ansari Exchange Company, Rida Al Ansari Exchange Company, Oman Insurance Company and International Leadership Financial Center from Singapore.

As for the conference program, Jamal Al Jasmi, General Manager, made it clear that day one, corresponding to 3rd of March, 2009 included registration, guests and participants reception ceremony, where it was held at Al Bustan Rotana from 6:00 pm till 10:00 pm. Activities of this conference started officially on Wednesday, 4th of March, 2009 by the opening session. At this session, His Excellency governor of the UAE Central Bank, Sultan Bin Nasser Al Suweidi, delivered a speech on this occasion in addition to a speech delivered by His Excellency Ahmed Humaid Al Tayer, chairman of the board of directors of the institute and the main speech to be delivered by professor Newel from Michoacán University.

This conference lasted for two days through several sessions that dealt with a number of themes on change in banking industry, capabilities resulting from merge of banks, modern issues in Islamic banks and practical strategies in addition to effect of leadership on transformation of banking institutions. Moreover, the conference participants also discussed human resources management strategies and developing effective teams in talent management. The conference closed by a presentation made by the country hosting the conference in 2011 in Al Bahamas.

He has pointed out that the conference will be attended by elite of international experts in the area of banking and finance; the most prominent of whom are Dr. Belen, the CEO of SMR Group from Malaysia, Mr. Samuel Lam, president and consultant director of Asian association from Singapore, Mr. Rick Pander, the CEO of Emirates NBD and Dr. Taha Al Tayeb Ahmed, Deputy General Manager of Badr Islamic Bank.

Al Jasmi has also emphasized that one of the major issued to be dealt with the conference is human resources management, where he pointed out that the new challenges on globalization, rapid internationalization of financial system, occurrence of great progress in the area of technology in addition to the global financial crisis. This increased speed of international innovations and reinforced common links and connection. This has also created complications in the work environment and competition. The financial crisis that recently happened demonstrated that even the financial systems in the advanced countries and economies can be exposed to financial failure.

This matter requires new skills and ability to manage such new challenges. In reality, it would be necessary to get talents that are not only capable of seizing new opportunities, but they should be also able to deal with the high level of prediction and transfer through vehement circumstances. We also need to have a clear vision and understanding of future trends, chalk out the strategic tendencies and adapt to the changes in continuity of competitiveness. This shall be the source of inspiration for their ability to adjustment to the new environment to ensure the ability to compete others in the long term.

Above all, Al Jasmi has also stated that success of the financial and banking institutions in the future will increasingly depend on attraction and retention of the best competencies and skills, which shall become more pressing. In fact, availability of talents shall become a pivotal factor in identification of the ability of the organization that requires the necessary skills and expertise not only on the strategic and managerial level, but also on the technological and executive level. Successful organizations shall be the ones that would give high priority to continue reinforcing the human capital.

Therefore, it would serve the interest of banking and financial institutions operating in the country to enhance the professional efficiency of staff. In this connection, organizations can of course "attract the talents" from the market. However, the most attractive option is to build and develop talents from within the same organization.

Finally, he has extended thanks to all participants, conference sponsors and everybody who contributed to its support.

Al Jasmi: I would like to thank all those who contributed to supporting the conference