Tawreeq Holdings, the pioneer in Sharia compliant Supply Chain Finance (SCF), and the Arab Union for Industrial Exports Development (AUIED) successfully conclude the first co-organizer edition of the Arab Trade and SCF Conference series, held on the 4th and 5th of September at the Intercontinental City Stars Hotel in Cairo. The conference was held under the auspices of the Prime Minister of Egypt, H.E. Engineer Sherif Ismail, the Head of Council of Ministers and the League of Arab States.
The conference was initiated by speeches from Ambassador Abdel Moneim Mohammed Mahmoud, the AUIED Secretary General, and Mr. Haitham Al Refaie, Chief Executive Officer of Tawreeq Holdings. Opening ceremony speakers included Dr. Alaa Ezz, Secretary-General of the General Federation of Egyptian Chambers of Commerce, Engineer Galal Abdel Fattah, Head of the Egyptian Epla Group and Chairman of AUIED, Dr. Mary Imam, Deputy Secretary General of the Council of Arab Economic Unity and last and not least, Major General Ismail Jaber, Head of the General Authority for Industrial Development in Egypt, on behalf of Tarek Qabil, Minister of Trade and Industry of Egypt, who was unable to attend due to his travel abroad in accompaniment to the President.
The event brought together senior officials, regional and international bank representatives, businessmen, and experts from MENA region with a participation of around 300 delegates. The conference provided a platform to share best practices, discuss policies and assess current issues and solutions in the trade industry, where top decision makers, industry experts and policy makers can network and exchange knowledge and expertise to promote stronger trade for overall economic growth in the region.
With the limelight on intra and international Arab trade, the two-day conference focused on the need to increase inter-Arab trade with the unification of legislation and laws in Arab countries to increase the availability and use of alternate financing tools to support trade development. In elaboration, the discussions stressed on the need to provide innovative funding solutions for the supply chain to serve manufacturers and suppliers.
Tawreeq Holdings spoke on the lack of solutions in the market to serve the financial need of the supply chain, especially for Small and Medium sized Enterprises (SMEs) who in particular, lack access to finance. The group emphasized on how its world’s first innovative and comprehensive Sharia compliant SCF solutions can bridge the gap between the banking sector and businesses, providing them access to much needed finance with its unique and customized underlying structure.
The conference further on discussed on the development of non-banking instruments such as securitization and factoring solutions that provide necessary liquidity to serve the financial ecosystem for trade development and expansion.
Tawreeq Holdings is thankful to all the participants who attended the first edition of the Arab Trade and SCF Conference and looks forward to meeting with them again in the next engaging edition of the conference. The Group will continue its role as an ambassador in sharing the industry’s knowledge on SCF as well as creating a more efficient financial ecosystem to fuel business growth and in turn support trade and regional economic growth.