Saeed Haider
Saudi Gazette
THE 8th Saudi Money Expo Al-Khobar concluded Saturday with large number of experts from currency, bullion and oil markets expressing total confidence in Saudi economy and its consistent growth in all sectors.
The declining oil price was not seen by these experts as any hindrance to the growth in the region in general and in Saudi Arabia in particular.
A conference held simultaneously with the exhibition was opened by Prince Saif Al-Islam Bin Saud in which a large number of speakers from banks, investment companies, brokerage, oil and gas sector presented their views on the current economic condition in the region and their forecasts.
The Expo was organized by "Stay Connected" in cooperation with the East Economic Consultancy. Al-Awsat Expo is held every year. Last year it was held in Riyadh.
Most speakers emphasized on the need of understanding the currency market and to educate investors on the skills of identifying good and bad investments. They also focused on the awareness regarding rules and regulations related to investments in each country in the region.
Some of the speakers urged for simplification of regulations by regulatory authorities. Mohamed Al Shmeishry, in his presentation, focused on the specialties and effects of money markets as well as methods of dealing with multiple currency investment.
Giving example of the US dollar, euro and yen, he clarified the nature of each currency and its points of strengths and weaknesses as well as economic and financial factors affecting these currencies.
Fadi Mehdi, represented Saxo Bank of Denmark which operates through its branch inn Abu Dhabi. Speaking to Saudi Gazette, he highlighted the strength of Saudi economy and its unprecedented growth despite decline in oil prices and expected a “very positive response” from the Saudi investors.
Saxo Bank deals in currencies, stocks, CFDC, future contracts, bonds, exchange-traded products and forex. Saxo Bank, in its presentation, noted the growing interest in foreign exchange options trading from self- directed investors based in Saudi Arabia who are becoming increasingly aware of the potential of these products as a way to hedge their portfolio and create unique opportunities to benefit from the market.
