NBK delegation to attend IMF and World Bank meetings in Turkey
Economics 9/26/2009 12:05:00 PM
KUWAIT, Sept 26 (KUNA) -- Representatives from the Kuwait's leading bank in capital, National Bank of Kuwait (NBK) will attend the World Bank and International Monetary Fund 2009 Annual Meetings scheduled in Istanbul, Turkey between October 6-7, read a statement by the bank on Saturday.
The delegation will be headed by NBK Group Chief Executive Officer Ibrahim Dabdoub, NBK CEO Isam Al Sager and senior members of the bank. Such forums provide a good opportunity to familiarize participants with the achievements of the State of Kuwait and the role played by the private sector in furthering the process of development, particularly the significant role shouldered by the major banks in supporting and enhancing development initiatives in the region, added the statement.Dabdoub will chair the Emerging Markets Advisory Council (EMAC) of the Institute of International Finance (IIF) that will convene to consider the critical global economic and financial market challenges with particular relevance to emerging market economies.
The Council will discuss key issues of global financial regulatory reform, especially as these may affect emerging markets, taking note of the recent enlargement of the membership of the Basel Committee and the Financial Stability Board.The EMAC, which held its inaugural meeting in January 2009, comprises 34 heads of leading financial institutions headquartered in 22 emerging market countries.
It is designed to play a key advisory role to the IIF's Board of Directors, and to help inform the priorities and the work program of the Institute.It has been established in recognition of the growing roles that financial institutions headquartered in the emerging markets are playing in global finance and the need for their voice to be heard even more strongly within the IIF in particular, and in the global financial community more generally.
NBK has the largest Arab and international branch network, with solid presence in countries such as Jordan, Lebanon, Qatar, Bahrain, Saudi Arabia, UAE, Egypt, and Turkey in addition to other metropolitan centers such as London, Paris, Geneva, New York, China and Singapore.
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