First SWIFT Regional Conference in the Middle East to be held in Dubai

Bankers in the Middle East will have an opportunity to get updated on the latest technologies driving the global banking and financial industry, at SWIFT: Evolution of Middle Eastern Banking the new realities, a three-day Middle East regional conference from December 16 to 18, 2003.

The conference, organized with the help of Eastern Networks, a leading leading IT solution provider in the region and SWIFT regional Business and Service Partner, will focus on banks' readiness for their migration to IP-based platforms either directly or through a managed Service Bureau as well as the latest developments in financial messaging systems.

As with other regional conferences, the conference agenda continues to advance critical dialogue by picking up on the dynamic changes taking place in the global financial industry and the world economy in general with special emphasis on the region's needs.

The starting point for this dialogue is twofold: the increasing importance for the industry to provide value to its customers, as well as the continued pressure for it to maintain cost control in the current economic climate. These challenges are reflected in the conference theme 'New realities'. The conference in Dubai will help define these new realities and shape the debate over how our financial community should address them.

"The SWIFT regional conference in the Middle East has been devised as an ideal forum for addressing all the issues that will help banks and financial institutions to update themselves on latest technologies," said Hazem Mulhim, CEO, Eastern Networks. "One of the objectives of the specialized conference is to develop a systematic roadmap for transition to IP-based platforms and transactions. The conference provides SWIFT an opportunity to speak directly to the banks from across the Middle East. Several partners have come on board, ensuring that participants will receive a well rounded picture of current banking technologies," Mulhim added.

An estimated 150 banks are expected to participate in the conference, which will be addressed by senior-level executives from SWIFT including Johan Kestens, Head, New Business Development, SWIFT and David Pryce, Head of Sales, Commercial Sales and Support, SWIFT; as well as key figures from the banking and financial communities from the Middle East, Pakistan, Turkey and Europe who have gone through the same changes or are contemplating it in the future.

"The Middle Eastern banking sector, although very advanced, certainly needs to catch up with the fast-paced developments taking place in the financial sector globally." said Mr. Pryce. "We are pleased to welcome the financial community to the first SWIFT Regional Conference in the Middle East which will enable top banking and financial personnel in the region to discuss operational and strategic issues of mutual concern and to discover how SWIFT can help develop local value through international insight."

The event will be divided into four plenaries, each devoted to financial messaging; operational, credit and settlement risk; the progress of banks' migration to SWIFTNet and the consequences of non-compliance and payment mechanisms of tomorrow.

The conference will begin with a welcome note by David Pryce and introduction of the key speakers and follow with a brief presentation on SWIFT's product portfolio and activities in the region.

The second day of the conference will focus on the defining operational excellence and will feature two sessions followed by interactive workshops for all participants. Johan Kestens, head of new business development and member of the executive group for SWIFT, will provide an update on SWIFT's strategy and its activities in developing a portfolio of alliances and services to satisfy the messaging needs of the e-world. The second session of the day will broach the topic of how to stay in business by addressing the issues of risk by deploying adequate contingencies for mission-critical systems as well as Disaster Recovery Solutions that can safeguard banks' operations in the event of unforeseen contingencies.

The third day of the conference will concentrate on defining the value of SWIFT and the starting session will discuss SWIFTNet evolution and how financial institutions can benefit from this. The next session and the last one of the conference will broach the subject of Settlement risk and how the transition to tomorrow's payment mechanisms will be done.

The conference will also feature workshops on various technical topics that are integral to e-commerce, such as IP connectivity, SWIFT Education, Trade Finance Dematerialisation, SWIFTNet Migration, Securities, TrustAct and e-commerce, Middleware and Service Bureau.

This Regional Conference will provide banks with a unique forum to debate the strategic issues that affect the global financial industry and SWIFT's role in it. It also offers them the opportunity to network with their peers - the senior executives who shape the future of our industry.