Good morning distinguished guests, ladies and gentlemen,

Thank you to Giam and Deloittes for hosting this event and for Giam's kind introduction.

In reference to leaders of innovation, I, like many of you are aware of many companies and individuals who have been successful in gaining profitable contracts in a wide range of business activities extending from landscape gardening to property maintenance services, supply of a wide range of seeds, golf course design, office maintenance, real estate distribution techniques and service related enterprises which develop comprehensive standards for building codes and regulations.

The increased number of Australians working in the UAE, particularly working in the finance sector (some of whom are our former Arab Bank Australia staff) and in the hospitality industry has increased the demand and awareness for a significant range of Australian products as demonstrated in the latest trade figures between Australia and the United Arab Emirates.

Australian's exports to the UAE totals $3.06 billion. Australian's imports from the UAE totals $2.14 billion.

It is appropriate here to note the support that ABA and our parent company, Arab Bank Plc which has a significant retail and corporate presence in the UAE for many years, have given to the Australia exporters and importers. We have done this directly with our customer s and through the support we provide the AACC and Austrade.

For some years now the Middle East and the UAE in particular have received increased prominence in the local Australian market amongst business men and corporations. Underlying growth in these economies has not doubt been supported by increased revenue from the oil boom, population growth, particularly among the young, and though the western orientation in infrastructure and Government.

Arab Bank Australia is the only financial institution from the Middle East countries operating in Australia. We have held a full banking licence since 1994, maintained a retail and commercial banking presence in Sydney and Melbourne and have contributed significantly to assisting Migrants set up in Australia as well as assisting importers and exporters in particular with their trade in the Middle East markets through our parent bank Arab Bank plc with whom I am sure you are all aware of their strength and integrity. The value proposition that our customers have found to be beneficial in dealing with Arab Bank Australia and the Arab Bank group can be summarised as follows:

We have people on the ground (in practically every Middle East and North African country) who know the local environment very well and are genuine in having their customers' vested interests and well being protected.

The Arab Bank group's top priority is integrity and brand. This has been so since the first day of formation in 1930 and as such, the name carries enormous prestige when you are dealing with us.

Given our long and reputed presence in these economies we have significant knowledge and up to date awareness of current market trends and major business initiatives in the countries with which we operate.

In view of the above we can help leaders of innovation with networking, facilitating, government influence and the safety and peace of mind of knowing that you have a bank with a key purpose of helping customers grow so that we too can continue to grow.

Thank you for the opportunity to talk with you today.

< Back to Events and Community Initiatives