Leaders— AL ROUAD ROUNDTABLE—10:32am

Posted on | November 16, 2008 | 1 Comment

From the start Saudi Arabian banking is being cheered because of the extreme oversight and the fact that there has been a constant eye on the process.

120% of deposits in Saudi Banks are deployed domestically.

External segment of the balance sheet is below 11%. Exposure is small.

Consumer debt is small?  Hmmm… this is odd when you look at other places like the UAE.

Check the Saudi Arabian Monetary Agency for data.

John Sfakianakis suggests that the region is well placed!

Last year the conversation is devaluation of the dollar peg, now we are imagining a fall of inflation, gloomy is not helpful in this region given what is happening.

1. take stock

2.look at bubbles

3. reorganise

SPEND LOCALLY! GCC GROWTH 2009 TO BE OVER 4% THIS IS MUCH BETTER THAN THE US.

Sameer Al Ansari, came to Dubai as an accountant.

“everyone knows about Dubai as a success story”

“what now?”

Dubai’s debt is manageable FROM A REGIONAL CONTEXT.

Dubai has strong fundamentals.

Fadi Ghandour

It is time to settle the role of business and society and how business conducts itself!

Business is not only responsible to the shareholder!

Government and business must accept their responsibility from a stakeholder perspective.

Corporate and social responsibility are very important and not acted upon!

Is our education working?

Youth keeps stability and makes business where is the entrepreneur training.

Youth bulge or youth asset?

Ahmad Abdulkarim Julfar said we need to admit we have a crisis.

Opportunity can come from this crisis IF THE ORGANISATION IS AWAKE.

But this is also the time to attract and retain talent.

Keep investing and more… now is the time for the next phase when the crisis is over.

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Is it possible that the Middle East is too optimistic about the situation.

“beware of the half empty glass approach” “deal with the contagion winds, we do not have the wall Street crisis”

Saudi advocates a counter cyclical investment approach.

Why is Dubai debt manageable? 50 billion-70 billion dollars Dubai debt to GDP 1 to 1 ( usa 3times, 300%)

Do we want to invest right now? Not at DIC. We are heading to a deep recession, 1-3 years.

Time to be conservative! It is very difficult to raise funds.

This is the time for the region! Money, brains know how are here to score big globally in the next 18 months.

Companies need to show leadership today… run a tight ship!

But we also need to keep our eyes on the future! And the question has to be are the old school business models set up to promote and provoke this kind of thinking?  I don’t think so.

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Moderated By: Nadine Hani

Sameer Al Ansari
Executive Chairman and Chief Executive Officer
Dubai International Capital LLC

Fadi Ghandour
Founder and CEO, ARAMEX International

Dr. Muhammad Sulaiman Al-Jasser
Vice Governor
Saudi Arabian Monetary Agency
Riyadh – Saudi Arabia.

Ahmad Abdulkarim Julfar,
Chief Operating Officer, Etisalat

John Sfakianakis
Group Chief Economist & General Manager, Saudi British Bank

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