Treasury Verdict Middle East

Mar 26th 2014 | Middle East and Africa

INTRODUCTION

Treasury Verdict is the electronic voting and panel discussion held at EuroFinance events worldwide. This report is based on the votes of corporate treasury professionals, bankers and other vendors and advisers who attended EuroFinance’s 12th annual conference on Trade, Treasury & Cash Management in the Middle East, held in Dubai, on 25 and 26 March 2014.

Commentary was provided by these panellists:
• Torben Winther, Region Treasurer, Middle East, India & Africa, ABB, UAE
• Giuseppe Matassi, Chief Financial Officer, ETA Facilities Management, UAE
• Asif Raza, Head of Corporate Banking, MENA, J.P. Morgan, UAE
• Chris Robinson, Director, TransactionBanking.com, UK (Conference chair)

Key findings
• Almost eight in every 10 treasury and finance professionals in the Middle East (78%) feel more confident about their business’ prospects in the next year. This means that treasurers in the region are the most optimistic when compared to their peers in India (66%), China (60%), Southern Africa (58%), Brazil (55%) and Europe (38%). [Question 1, see Global Context below]

• Treasurers in the Middle East are far less confident in the prospects for the global economy over the next 12 months than they are about their own businesses. Some 39% say that they feel more confident about global economic prospects for the next year, while 37% feel less confident. Around a quarter of those questioned (24%) feel the global economy is in for more of the same. [Question 2]

• Over half of treasury and finance professionals in the Middle East (56%) are actively seeking ways of diversifying their funding sources. The remaining 44% are not. [Question 7]

• Six out of every 10 treasurers in the Middle East (60%) say that cyber-security is a big concern for their company. [Question 10]

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