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Vol : 10Stay up to date with the latest news about NCBNo : 18

NCB HOSTS THE IPFA MIDDLE EAST CONFERENCE

Tuesday, 16 July, 2013

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​With the attendance of business leaders under the title " Saudi Arabia, a Compelling & Unique Opportunity!"

The National Commercial Bank (NCB) has recently hosted an international important economic event in Riyadh; it is the International Project Finance Association (IPFA) Conference entitled “Saudi Arabia, a Compelling & Unique Opportunity”.

A select group of audience which included high officials, businessmen, and a number of executives of large public & private sector companies in the region participated in the conference, which was co-sponsored and hosted by NCB.


“It is our pleasure to host such important economic event in cooperation with IPFA to gather the IPFA’s high officials with business leaders in the region. This is the first time this event is organized in partnership with NCB in the KSA.

NCB organizing such events reflects the Bank’s vision to promote the industrial and financial knowledge and raising awareness of the economic issues to enhance the efficiency of business community,“said AlSharif Khalid Al Ghalib, Corporate Sector Head of NCB, who confirmed that the IPFA conference is a good chance to exchange views and opinions and keeping up to date in the fields of financing large industrial and infrastructure projects.

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He added: “”Choosing Riyadh as a place for this conference has a very important indication, as Riyadh is one of the biggest economies and the distinct political capitals in the Middle East region”.

The conference started with the welcome address by Sikander Zaman, Head of Specialized Finance Group, NCB, and Jeffrey Barratt, senior partner at Norton Rose and a member of IPFA Board.Then two key note speeches were delivered. In the first speech, Khalid Al Rowais, CFO of Ma’aden shared with audience the leading role Ma’aden is playing in the metals and mining sector in the Kingdom. In the second speech, Engineer Alaa Samman, Director of GACA informed the audience of the current and planned developments of bringing Saudi Airports at par with global standards.

The event also organized two panel discussions. The first panel was chaired by Mansoor Durrani, Head of Project Finance, NCB and consisted of Engineer Alaa Samman, Director of GACA, Dr Waleed Youssef, Director of TAV Airports, Turkey and Jeffrey Barratt, a Partner at the international law firm Norton Rose. This panel discussed various aspects of structuring and financing PPP and Infrastructure projects and the way forward in the Kingdom.​​

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The second panel was chaired by Jason Peers, Deputy CEO of Dutco Natural Resources and consisted of Rajit Nanda, CFO of ACWA Power, Shibeer Ahmed, a Partner at international law firm White & Case and Mario Salameh, Head of Project Finance at HSBC. This panel discussed prospects and various aspects of structuring and financing Alternate Energy Projects including Renewable and Solar power in Saudi Arabia.

AlSharif Khalid Al Ghalib, Corporate Sector Head of NCB made closing remarks. He outlined the leading role NCB’s project finance has played in the development of Saudi economy in general and Islamically structured projects in particular.

Prominent among the audience were British Ambassador in Saudi Arabia, Michael O’Neill, senior representatives of Saudi Aramco, Sabic, SEC, Ma’aden. ACWA Power, Al Rajhi, GE, Siemens, El Seif Group, Natpet, Astad, HCM Engineering, Marubeni, Qatar Petroleum, Deloitte and a number of other corporates, law firms and consultancies.

International Project Finance Association (IPFA) is the flagship association of international project finance professionals. It organizes such events across the world.It aims at financing projects and raising awareness on the importance of project financing to the economic development and infrastructure. It also promotes communication and dialogue between public and private sector to provide up-to-date information on best practices, industrial trends and new developments that can be immediately applied to the projects through meetings, conferences and work sessions.

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