RIYADH: The increasing need for expert trade and cash management solutions by the private sector across the Middle East during the current world economic turmoil is the core theme running through an important new book that has now been launched in Saudi Arabia. It is published jointly by SABB and its global associate HSBC.
The launch of the Guide to Cash, Supply Chain and Treasury Management in the Middle East 2009 was celebrated at a gathering of financial and economic experts from the public and private sectors in the region and corporate customers of SABB at The Intercontinental Hotel, Riyadh.
The 232-page book includes 32 detailed essays and case studies by a wide range of international authorities as well as SABB and HSBC specialists covering the full spectrum of cash management, supply chain and treasury issues that corporations trading within and outside of the Kingdom and the region need to consider. In addition, the economic situations and relevant regulatory regimes of countries across the Middle East are analyzed and discussed. “There is growing recognition in Saudi Arabia and the region that management of cash flow, of payments and of multitudes of currencies can radically affect a company’s profitability,” Adel Al-Nasser, deputy managing director of SABB, told the launch gathering.
“But in these times of economic uncertainty, when margins are being reduced to the minimum, when currencies fluctuate wildly from day to day or even minute to minute, the expert and efficient use of these management tools can sometimes even be essential to the survival of a business, whether small or large,” he added.
Abdulaziz Al-Helaissi, area general manager, Central Province, commented, “This book will help guide CEOs and financial managers through the complexities of the various processes involved, including Shariah-compliant options. We have tried to anticipate the problems that may arise in 2009 and look forward to readers coming forward to share their experiences in next year’s Guide so that we can all continue to learn.”
