May 23, 2012
Partners from the firm’s Middle East practice participated in a prominent conference focused on “Strengthening the Debt Capital Markets in the Arab World.” The symposium was held in Abu Dhabi and was jointly organized by The Arab Monetary Fund (AMF), The International Monetary Fund (IMF), The World Bank and European Bank for Reconstruction and Development (EBRD), the Organization for Economic Cooperation and Development (OECD) and The Gulf Bond and Sukuk Association (GBSA).
The conference was attended by finance ministers, central bank officials and market regulators from 15 Arab countries.
Bryant Edwards, a partner in Latham’s Middle East practice and one of foremost leaders in the capital markets field, moderated the panel “Developing Corporate Bond Markets: The Arab World and Other International Experience.” Edwards said: “Dynamic companies in the Arab world will increasingly turn to international debt capital markets for growth capital as regional banks find it more difficult to provide funding at below market rates.” Edwards serves on the Steering Committee of the Gulf Bond and Sukuk Association.
Kai Schneider, Head of Latham’s Investment Funds Practice in the Middle East and a partner in its Dubai office, participated in the panel “Who is Missing From the Buy-Side in the Arab World?” Schneider commented: “With all of the wealth generated in this region, the Arab world countries should have a stronger buy-side community. There is no reason why the Middle East should not be able to replicate the success of cities such as Singapore and Hong Kong in attracting leading asset managers.” Schneider is also Chair of the Regulatory Committee of the Gulf Bond and Sukuk Association.
Mohammed Al-Sheikh, Managing Partner of Latham’s office in Riyadh, chaired the panel “How Has the Sukuk Market Evolved Since the Financial Crisis?” Al-Sheikh said: “It is gratifying to see the surge this year in sukuk offerings—not only in Saudi Arabia, but in other Arab countries as well, including Dubai’s very successful recent sovereign sukuk.”
Contacts:
Bryant Edwards, Chair of Middle East Practice, +971.4.704.6300, bryant.edwards@lw.com
Kai Schneider, Chair of Investment Funds Practice in the Middle East and Africa, +971.4.704.6300, kai.schneider@lw.com
Mohammed Al-Sheikh, Office Managing Partner in Riyadh and Co-Chair of the Islamic Finance Practice, +966.1.207.2500, mohammed.al-sheikh@lw.com