Kuwait Financial Forum Discusses Recovery From Worldwide Recession

KUWAIT CITY, Nov. 3, 2010 /PRNewswire-USNewswire/ -- The second Kuwait Financial Forum was held this week under the patronage of His Highness the Prime Minister Sheikh Nasser Al-Mohammad Al-Ahmad Al-Jaber Al-Sabah.  The Forum, organized by Al-Iktissad Wal-Aamal group in cooperation with the Central Bank of Kuwait and Kuwait Banking Association, explored ways to recover from the global economic crisis.

Chairman of Kuwait Banking Association Hamad Al-Marzouq said the timing of the event was meant to offer perspective and analysis for the recession that has taken place during the last two years.

"The fluctuating growth rates and the soaring unemployment rates particularly in the western countries provide evidence to the fact that the world economy is still fragile and that the recent economic crisis was similar to the Great Depression of 1930s," Al-Marzouq told the audience.

The two-day forum built on the success of the first forum held last year, bringing together a number of Arab ministers, senior leaders in the finance and banking industry, senior economists, and executives of many banks and financial institutions in the Arab world.  Leaders of international banks active in the region were also involved in the summit.

Participants covered a number of topics during the convocation, including future rebuilding during the international financial crisis; the Arab economies during the economic recovery; new regulations and the role of central banks; challenges facing Arab banks from the economic slowdown, the liquidity shortage, and the decline in asset values; and the financing shortfall and its expected effect on future projects and business activity in the region.

This has been issued by Al Madar. For more information, visit http://www.almadar-kw.com/

SOURCE Al Madar