Moody’s to organise conference on credit risk in the Middle East

The conference will focus on the role of ratings in the Middle East, in particular in terms of the growing phenomenon of Islamic finance, the changes in the region’s sovereign ratings, and the rating outlook for banks in the Middle East, among other topics.

“Middle Eastern capital markets have grown dramatically in recent years, leading to an increase in the demand for ratings,” says Frederic Drevon, Senior Managing Director for Moody’s in Europe, the Middle East and Africa (EMEA). “Moody’s can provide independent and transparent global risk benchmarks that allow global investors to participate with confidence in the Middle East,” adds Drevon.

A major theme of the conference will be the rapid development of Islamic finance, which has resulted in very complex transactions. “In this context, Moody’s can play a valuable role in providing international investors with a clearer understanding of the nature of Islamic banking and the credit risks relating to ‘Sukuk’ securities,” says Khalid Howladar, Vice-President — Senior Analyst in Moody’s EMEA Structured Finance Group, who will speak on this issue at the conference.

On a related topic, Mardig Haladjian, a senior member of Moody’s banking group and General Manager of Moody’s Limassol office, will present a comparison of the risks in Islamic and conventional banking, highlighting the differences between the two systems from Moody’s perspective.