Jeddah- The National Commercial Bank (NCB) has lately sponsored the International Arab Bank Summit for 2005 (IABS) which held on 23rd-24th of June in Frankfurt, Germany. The convention is titled “Europe-Arab Economic Discussion”. It is organized by the Union of Arab Banks in cooperation with the International Banking Forum.

Sheikh Abdulla Bahamdan, Chairman & Managing Director of NCB, stated that the sponsorship of this banking event is initiated by the banks upper management awareness of the importance of these economic activities in establishing mutual understanding, developing Arab and European economic relations and its future prospects. He added that the convention will provide a hospitable ground for bank officials to exchange experiences and perspectives with many participating economists, experts and authorities. Arab Ministers of Finance and Economy, Arab Central Banking Managers, International and Arab Banking Leaders and the Assistant General Secretary of Banking Supervisory Council will also participate in the convention.

In addition to the German Minister of Finance of the state of Hesse, the member of the executive committee of the Central European Bank, the member of the Executive Committee of the Central German Bank, the Frankfurt City Mayor, representatives of international establishments and organizations. The work schedule of the convention includes discussion forums to exchange ideas on the most important changes and challenges facing the financial and banking sectors in financial establishments and the future vision of the financial sector in the world’s nations amidst the international economic developments.