FIMBank Senior Officer addresses Union of Arab Bank Conference in Libya

05.06.2007

Mag. Nassif A. Chehab, Senior Vice President, Head Financial Institution of FIMBank plc, the Maltese Trade Finance Bank, was invited to speak at a conference in Libya organized by the Union of Arab Banks and sponsored by the Central Bank of Libya, entitled “the Experience of Foreign Banks in the Arab Region”.

Over the past decades, several foreign banks have created or developed a presence in Arab markers. Such presence has varied in proportion to the degree of opened and economic, financial and banking liberalization in Arab countries. The roles of these banks have differed from one country to another, according to the existing business opportunities.

Mag. Chehab spoke about FIMBank’s experience and its activities in Trade Finance in general, and forfaiting and factoring and stressed on the advantages of integrating foreign banks in the local economies of emerging markets.  He highlighted the advantages of globalization and the importance of financial cooperation given the right criteria.

This conference was attended by leaders of the banking industry in the region under the auspices of the Governor of the Central Bank of Libya.  Working papers were presented by senior representatives of government, banks, and financial and economic experts.

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