2nd Annual Financial Restructuring MENA Conference Unveils In Abu Dhabi

The second Annual Financial Restructuring MENA Conference recently commenced at the Abu Dhabi Global Market (ADGM) premises, marking a significant gathering of industry experts to discuss the future of financial restructuring within the region. The event was inaugurated with a keynote speech by Hamad Sayeh Al Mazrouei, the Chief Executive Officer of the Registration Authority at ADGM. Al Mazrouei highlighted Abu Dhabi's critical role in enhancing the financial restructuring sector, aiming to provide businesses with the necessary tools to overcome challenges and grasp opportunities for continuous growth and stability.

The conference shed light on the UAE’s new bankruptcy law, evaluated the sufficiency of regional insolvency frameworks, and reviewed advancements in MENA's restructuring arena. Abullah Mogheerah, Secretary-General of Bankruptcy Commission Saudi Arabia ‘EISAR,’ underscored the significant influence of Saudi Arabia's Bankruptcy Law in revitalizing the market and encouraging economic growth. He pointed out that this law is instrumental in improving the country's financial landscape's resilience and attracting private and foreign investments.

Discussions during the event also covered the macroeconomic environment, global trends affecting MENA economies, and the resilience of regional banks amidst a global increase in debt. A particular focus was placed on managing non-performing loans (NPLs) and preserving asset quality. The conference provided a platform for renowned restructuring practitioners worldwide to share insights on proactive strategies for overcoming various challenges in corporate restructuring.

The first day concluded with panels dedicated to achieving successful business turnarounds in scenarios of high leverage and considerations for selling aggregated NPL portfolios in the region. The event attracted a diverse group of attendees, including policymakers, large corporations, lenders, restructuring advisories, asset managers, law firms, and hedge funds, highlighting its importance as a key gathering for stakeholders in the financial restructuring space.

With inputs from WAM