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Dubai to host Sibos in 2013

The event, which will be held for the first time in the Middle East, was announced by Shaikh Ahmed bin Saeed Al Maktoum, Chairman of the Supreme Fiscal Committee, President of Dubai Civil Aviation Authority and CEO and Chairman of the Emirates Group, at a news conference on Tuesday. Sibos Dubai will be held at the Dubai World Trade Centre.

For more than 30 years the Society for Worldwide Interbank Financial Telecommunication (SWIFT) has organised Sibos — which is recognised as the industry’s premier gathering of financial strategists and service providers, with a strong influence on banking trends and shaping the future of the finance industry.

Làzaro Campos, CEO of SWIFT, the financial co-operative responsible for organising Sibos, said: “We chose Dubai as the location for Sibos 2013 in response to its burgeoning financial sector and ever increasing knowledge based economy. SWIFT opened its Dubai office five years ago to cater to the growing finance and banking industry and we see great commercial potential in this market.”

Joining Shaikh Ahmed at the news conference, Ahmad Al Tayer, Governor of DIFC; Hamad Buamin, Director-General of Dubai Chamber of Commerce and Industry; Helal Saeed Almarri, CEO, Dubai World Trade Centre and Abdulla Mohammed Al Awar, CEO of DIFC Authority, described the decision to name Dubai as the venue for the 2013 edition as a coup for the Emirate and an endorsement of its global financial presence.

Al Tayer said, “For Sibos 2013 to select the Middle East as its destination for the first time is a credit to the region’s ongoing commitment to the financial services sector. For Dubai, it is a testament to its importance within the region and on the global stage as a hub for business. Transparency, best practice, innovation and highly developed investment strategies have placed Dubai as one of the premier banking markets and the arrival of Sibos will lend even further weight to this progress.”

Sibos organiser SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 9,500 banking organisations, securities institutions and corporate customers in 209 countries, exchanging millions of standardized financial messages every day.

Every year Sibos brings together influential leaders from financial institutions, market infrastructures, multinational corporations and technology partners to do business and shape the future of the financial industry. This year it will be held in Toronto, Canada, from September 19-23.

Hamad Buamim said, “We wholeheartedly welcome and support the Sibos Dubai conference, which is testament to our city’s pioneering status as the Middle East’s leading financial hub. As a pillar of the economy, Dubai’s financial sector is robust and has shown strength during the past period, due in part to its competitiveness, being made up of local, Islamic and international banking institutions. Organising this prestigious conference comes at the right time as the sector continues to see growth and will help seal Dubai’s rank among other global financial capitals.”

Almarri added: “Sibos is an important gathering of the financial world’s leaders and it is a great privilege for Dubai to host such distinguished guests. The unceasing efforts of Dubai’s financial institutions have made the city a highly attractive proposition for international investors and acted as a commercial ambassador for the region as a whole. We are looking forward to welcoming Sibos exhibitors, visitors and delegates, and showcasing the best facilities, professionalism and hospitality the city has to offer.”

abdulbasit@khaleejtimes.com