Unlocking Financial Potential: Insights From Annual Financial Restructuring MENA Conference

As the 2nd Annual Financial Restructuring MENA Conference kicked off at the Abu Dhabi Global Market (ADGM) building, industry leaders explored strategies for navigating the region’s evolving financial landscape, addressing rising corporate insolvencies.

The conference kickstarted with keynote address by Hamad Sayeh Al Mazrouei, Chief Executive Officer of the Registration Authority at the Abu Dhabi Global Market. He emphasized on Abu Dhabi’s pivotal role in unlocking the potential of the financial restructuring sector, stating, “Abu Dhabi is at the forefront of fostering a robust environment for financial restructuring. Through strategic initiatives and partnerships, we are empowering businesses to navigate challenges and seize opportunities, ensuring sustained growth and stability in the region.”

The sessions focused on UAE’s new bankruptcy law, assessing the adequacy of regional insolvency regimes and took stock of the progress made in MENA’s restructuring space so far and the path forward. 

Abullah Mogheerah, Secretary General of Bankruptcy Commission Saudi Arabia ‘EISAR,’ fervently emphasized the transformative impact of Saudi Arabia’s Bankruptcy Law. He said, “Our unwavering commitment is a catalyst for market reintegration, providing entities with the tools to harness the full potential of the bankruptcy law. In doing so, we are not just bolstering the resilience of Saudi Arabia’s financial landscape; we are actively fostering economic vitality. This pioneering law stands as a cornerstone, elevating the competitiveness of our economy and amplifying the allure of private investments, with a particular emphasis on attracting foreign investors to partake in our nation’s prosperity.”

The industry sessions delved into assessing the macro economy, global trends, and their impact on MENA’s economies and explored the region’s banks’ resilience in successfully navigating the rising global debt wave, with a focus on effectively managing NPLs and maintaining asset quality. The sessions further scrutinized progress in MENA’s corporate restructuring landscape and delved into high-profile insolvencies, and featured globally renowned restructuring practitioners, offering valuable insights. Presentations focused on emphasizing proactive strategies and the need for strong efforts in overcoming strategic, organizational, and cultural challenges. 

Day one of the conference concluded with panels focusing on achieving successful turnarounds in highly leveraged situations and addressing considerations for sales of aggregated NPL portfolio in the region. 

The first day of the 2nd Annual Financial Restructuring MENA Conference was attended by policymakers, large corporates, lenders, restructuring advisories, asset managers, law firms and hedge funds among other key stakeholders.