Saudi Credit Bureau (SIMAH), the leading credit bureau in MENA region, becomes the Supporting Partner for the 2nd Annual Corporate Restructuring Summit (CRS 2019), which takes place on September 11–12 2019 at the Address Dubai Mall in Dubai, UAE.
Addressing the theme of "Emergence of New Alliances: Managing Debt & Non-Performing Loans", the summit's vision is to facilitate an enabling environment to address the key challenges associated with financial restructuring of corporate debts, effective management of non-performing assets and enabling capital adequacy and profitability through exploring mergers & acquisitions.
" SIMAH is glad to be the supporting partner of CRS 2019 for the first time. SIMAH becomes an essential element of the financial infrastructure that facilitates access to finance. Financial sector development unleashes the productive power of enterprises and facilitates inclusion of the informal sector in the formal economy" SIMAH's CEO Swaied Alzahrani points out.
Alzahrani clarifies that access to savings and credit in rural areas allows farmers to smooth consumption and often survive the unpredictable risks of droughts and natural disasters. Obtaining a loan to send children to school helps a family create better lives for their children and reduces the need for harmful child labor. "Having long-term financing to build a proper home is the direct result of a complex interplay of different financial intermediaries within the right financial infrastructure and regulatory framework. Financial institutions play a central role in extending financial services within an economy" Alzahrani adds.
CRS 2019 aims at promoting ease of doing business in the emerging economies of MENA through adequate financial restructuring laws and solutions; managing business resilience, continuity & contingency through strategic corporate restructuring; facilitating dialogue between banks, multi-national corporations facing insolvency and other parties involved in syndicated loans' workout to enable financial restructuring; facilitating establishment of successful loan sales' market & NPL servicing platform in the MENA and minimizing risk exposure and driving profitability in tightening market conditions by analyzing M&A opportunities in the financial sector.
Adding to the ongoing wave of regulatory reforms in GCC's financial sector, Saudi Arabia and Bahrain introduced their respective bankruptcy laws in 2018, encouraging corporate reorganization over liquidation. In Saudi Arabia, with the National Transformation Programme 2020 and Vision 2030 setting the stage for major transformation with the aim of optimizing the Kingdom's business & investment climate, the Bankruptcy Law was introduced as part of Saudi Arabia's regulatory reforms with the aim of further strengthening the Kingdom's business environment.
Key Features at CRS 2019 include: Keynote Addresses on bolstering economic growth in the MENA by fostering a conducive environment for doing business & transaction forecasts for MENA 2021; Exclusive CEO's Panel analyzing some of MENA's biggest workouts; Regulators Panel on driving economic growth via FDIs, M&As and minimizing bad debt portfolios; Key Panels focused on mergers, acquisitions and divestiture, distressed investing and NPL servicing platforms, managing NPL portfolios and driving down regional average & more.
The summit is expected to draw participation from over 300 prominent banks, corporates, legal-advisory firms, hedge funds, investment banks and debt restructuring specialists from across the MENA onto one platform by spearheading actionable debate, impactful change and high-level outcomes