Union of Arab Banks has inaugurated today the Arab Banking Conference which is organized in collaboration with Federation of Egyptian Banks, General Authority for Investment and Free Zones and International Finance Corporation to discuss the possible methods for supporting and financing small and medium enterprises (SMEs). The conference is convened in Cairo for two days under the slogan of "small and medium enterprises: The Arab economic strategic choice". The conference is attended by the top of banking institutions and businessmen in the Arab world, including: Tarek Amer, chairman of Federation of Egyptian Banks and chairman of National Bank of Egypt; Wissam Fattouh, secretary general of Union of Arab Banks; Mohamed Ashmawy, chairman of United Bank; Fathy El-Seabaey, chairman of Housing and Development Bank; Hany Seif El-Nasr, Chairman of Arab Investment Bank ; Hassan Abdel Megid, managing director of Arab Banking Corporation, Mohamed El-Atreby, chairman of Egyptian Arab Land Bank; Mohamed Ozalb, chairman of BLOM Bank and some of the Arab banks' presidents. More than 250 Arab bankers are participating in the conference which will be convened amid the social and political transitions Arab countries is witnessing and its repercussions on the Arab economies. Amid these circumstances, the role of SMEs to boost Arab economies is increasing. SMEs represent more than 90% of the majority of the world economies, in addition to providing between 40% to 80% employment opportunities and contribute of more than 85% to the GDP in many countries around the world. The SMEs are considered the effective strategic economic choice for the advancement of these countries' economies to face the negative implications imposed by the financial crises globally as well as the social and political instabilities regionally. The conference is discussing the different ways of developing and financing SMEs by developing the legislative system so that the promising sector can innovate, develop and compete locally and internationally, in addition to raise economic growth. Union of Arab Banks highlights the role of SMEs as a strategic economic choice and discusses the current role of SMEs in the Arab world and the role of the banking sector, and local, regional and international organizations in supporting and developing these SMEs for the benefit of the Arab world economies. The conference will discuss in two days the current situation of SMEs in the Arab region (obstacles and solutions), the role of the Arab banking sector and the international financial institutions in supporting and financing SMEs, Arab and International experiences in SMEs, the role of SMEs in backing Arab economies and the unconventional mechanisms for financing SMEs. The conference will be attended by institutions concerned with SMEs; including presidents of banks and financing institutions, executive directors of civil society organizations, development partners, representatives of investment agencies, representatives of private sector, chambers of commerce and industry, investors interested in expanding their relations, international institutions, and regional and international development funds and banks.
