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FCI Launch MENA Regional Committee
FCI Launch MENA Regional Committee
3 April 2024

Driving Excellence: The Launch of FCI's MENA Regional Committee, Empowering Trade Finance

In light of the rapidly changing landscape of the trade finance industry, FCI has decided to start establishing a regional committee structure. This strategic move is designed to address the diverse needs of our members more effectively and adapt to evolving market dynamics.

The first regional committee has been established in the United Arab Emirates as the Regional Committee for MENA.

We are proud to have the UAE and Saudi Arabia, two of the large economies of the region, as pioneer members in establishing our MENA regional committee. Known for being key global trade hubs with large contributions to the trade finance sector in the MENA region, their market dynamics, progressive policies, and strategic geographical connectivity are valuable components of our regional framework. Our aim is to shortly include Qatar, Bahrain, Kuwait, and Oman in our committee to integrate insights and expertise from these key regional markets. Together, we will unlock growth potential within these markets and set a benchmark for excellence and innovation in trade finance across the entire MENA region.

The committee's primary objective is to provide centralised support and promote collaboration among regions for the exchange of ideas, best practices, and digitalisation. Collaboration with policymakers and stakeholders worldwide will advance Trade Finance and promote industry best practices through educational initiatives.

Collaborating closely with policymakers and stakeholders worldwide, we aim to advance Trade Finance and champion best industry practices through educational initiatives.

In addition to establishing the MENA regional committee, the focus is on the significant trade finance dynamics in the UAE and Saudi Arabia. These regions have immense growth potential due to their strategic locations, progressive policies, and market dynamics. These regions' trade networks and global connectivity facilitate trade flows, attract investments, and promote economic prosperity. Integrating insights and expertise from these key markets will harness their growth potential and drive innovation in trade finance.

Furthermore, we uphold financial stability, prevent financial crime, and ensure regulatory compliance and ethical conduct within our region. The committee's goal is to provide centralised support and foster collaboration among regions, enabling the exchange of ideas and best practices.

The committee upholds financial stability, prevents financial crime, and ensures regulatory compliance and ethical conduct within the region. Mr. Reda Esat Reda Ezzat, Senior Vice President and Head of Structured Trade Finance in Global Transaction Banking at Mashreq Bank, has been appointed as the Chairman of the MENA Regional Committee, bringing experience and expertise to lead effectively.

The committee consists of FCI members and representatives from major banks in the region, facilitating diverse perspectives and expertise to develop innovative solutions and best practices in trade finance across the MENA region. Collaboration with industry stakeholders will drive innovation and excellence in trade finance with the guidance and strategic direction of the FCI MENA committee.

We are eager to utilise the guidance and strategic direction the FCI MENA committee will provide as we collaborate with key industry stakeholders to propel innovation and excellence in trade finance.

The committee members are:

  • Mr. Reda EZZAT, Senior Vice President, Head of Structured Trade Finance, Global Transaction Banking at Mashreqbank PSC
  • Mr. Zulqarnain JAVAID, CEO at HAIFIN, UAE
  • Mr. Ahmad IZHAR, Director at Standard Chartered Bank, UAE
  • Mr. Mritunjay SINGH, Lead Trade Products at Abu Dhabi Commercial Bank, UAE
  • Mr. Sivakumar KURIYAKKATTIL, Head of Open Account Trade Solutions at First Abu Dhabi Bank, UAE
  • Mr. Santosh ATTERY, Product Development – Structured & Core Trade Global Trade and Receivables Finance at Saudi Awwal Bank, Saudi Arabia
  • Mr. Ameet PARANJAPE, Group Senior Vice President of Treasury at DP World

Discover more

  • Learn more about this committee by clicking here.
  • You can meet the committee in Seoul from 9 to 13 June at the FCI 56th Annual Meeting. Find out more about the Annual Meeting here.