An expert panel of renowned banking experts and technology specialists - during their participation at Sharjah FDI Forum which concluded on Tuesday - stressed that the financial system of countries plays a key role in stimulating economic development by channeling funds and providing financing opportunities for agents and investors who re-operate them in productive sectors
SHARJAH, (Pakistan Point News - 13th Nov, 2019) An expert panel of renowned banking experts and technology specialists - during their participation at Sharjah FDI Forum which concluded on Tuesday - stressed that the financial system of countries plays a key role in stimulating economic development by channeling funds and providing financing opportunities for agents and investors who re-operate them in productive sectors.
A panel discussion, titled ‘Raising Funds to Accelerate Corporate Sustainable Growth’, which was organised by Dubai Financial Market, DFM, discussed what appeals to an investor or large-scale investment fund looking to invest, whether in a well-established or growing company, and also offered practical tips on what companies can do to increase their investment appeal.
Andres Tarbuck, Head of Capital Markets, Al Tamimi and Company; Fahima Abdul Razzaq Al Bastaki, Executive Vice President, Head of Business Development at Dubai Financial Market; Saeed Mansoor Al Awar, Managing Director, middle East Region, Rothschild & Co.; and Asar Mashkoor, Managing Director Investment Banking at Emirates NBD Capital, participated in the panel.
Al Awar said that Initial Public Offering, IPO, is one of the sustainable ways to provide capital to companies so that they can continue to grow in the future through the use of these financial returns for development.
He added, "IPO is definitely a good route to provide a sustainable avenue to raise funds in the future, and an important aspect of an IPO is corporate governance and sustainability. Once the company is listed, and you need more money, you can always float a rights issue. It can keep on growing and use that avenue of funding to fund your future growth."
Venture capital and private equity are viable funding options, said Asar Mashkoor, taking the example of GEMS education which took private equity in 2007.
He said, "There are a lot of criteria to be fulfilled for an IPO, which is why many companies go for private financing from the equity side. Depending on the size of the business, you can go to one of the large private equity groups."
For her part, Al Bastaki, said when Dubai Financial Market started the IPO programme in 2009, they had targeted 40 companies, the majority of which were family businesses, for listing. Many of them could not float IPOs because they were just not ready for it.
"Corporate governance was an issue. Which is why DFM is building on the sustainable development plan, as envisioned by the wise UAE leadership. We have been working with a lot of family businesses. Some of the regulations have been changed to cater to family businesses through the 2016 amendments to the company law regarding equity state and stock options. We expect the listings to increase in the future."
Another panel titled ‘The Future of Technology (Digital Revolution, Artificial Intelligence, Robotics, Drones, Latest Innovation)’ was moderated by Billy Fitzherbert, Middle East Regional Editor, Oxford Business Group, sought answers to questions on how emerging technologies will be the gamechanger in determining who wins or loses in the new global digital order; and how these disruptions can boost Sharjah and UAE’s FDI and competitiveness.
Mohamed Abdel Razek, Regional CIO of Standard Chartered Bank Africa and Middle East; Osama Al Zoubi, Chief Technology Officer at Cisco Middle East; Ghada Abdelkader, VP, CE-Invests, Crescent Enterprises; Amer Mdanat, Huawei Global Director, Smart Cities; and Sibu Siddique, Vice President - Customer Success for MEA & Turkey, GE Digital, were the panel’s speakers.
