The prestigious Abu Dhabi Global Market was the venue for the recent 2nd Annual Financial Restructuring MENA Conference. This gathering of financial experts and industry leaders was centered around discussions on the region’s changing financial environment and the increasing occurrence of corporate insolvencies.
Opening the event, Hamad Sayeh Al Mazrouei, the Chief Executive Officer of the Registration Authority at Abu Dhabi Global Market, highlighted Abu Dhabi’s influential role in advancing the sector of financial restructuring. He stated, Abu Dhabi is at the forefront of fostering a robust environment for financial restructuring. Through strategic initiatives and partnerships, we are empowering businesses to navigate challenges and seize opportunities, ensuring sustained growth and stability in the region.
Attendees engaged in sessions that scrutinized UAE’s new bankruptcy regulations, evaluated the sufficiency of insolvency frameworks in the region, and reflected on the progress and future directions within the MENA restructuring arena.
Abullah Mogheerah, Secretary General of Bankruptcy Commission Saudi Arabia ‘EISAR,’ passionately spoke about the transformative effects of Saudi Arabia’s Bankruptcy Law, expressing that the law is instrumental in reinforcing the country’s financial resilience and in promoting economic dynamism, particularly in attracting foreign investments.
The conference’s industry sessions included a deep dive into the macroeconomic landscape, global trends, and their repercussions on MENA economies. Discussions also revolved around the resilience of regional banks, the handling of non-performing loans (NPLs), and the maintenance of asset quality. The sessions featured esteemed restructuring professionals who shared their insights, emphasizing the importance of proactive strategies and addressing strategic, organizational, and cultural hurdles.
The first day wrapped up with panel discussions on achieving business turnarounds in debt-heavy scenarios and the considerations involved in the sale of aggregated NPL portfolios in the region.
The initial day of the conference saw attendance from a diverse group of stakeholders including policymakers, large-scale corporations, lenders, restructuring advisors, asset managers, legal firms, and hedge funds, among others.