Reception on the sidelines of annual meetings of IMF and World Bank
KUWAIT: An official delegation from the National Bank of Kuwait (NBK) attended the Kuwait Banking Association reception held on Friday in Washington, D.C. on the sidelines of the 2019 Annual Meetings of The Boards of Governors of the World Bank and the International Monetary Fund (IMF) that took place during the week of October 14-20.
The reception, held in the Four Seasons Hotel, brought together Governor of the Central Bank of Kuwait (CBK), Dr Mohammad Al-Hashel; Managing Director at Kuwait Investment Authority (KIA), Farouk A Bastaki; the Kuwaiti Ambassador in Washington, Sheikh Salem Abdullah Al-Jaber Al-Sabah, in addition to a number of senior bankers, investors and policy makers.
This event presents guests with an opportunity to meet regional and international decision makers to hear about the latest financial and banking developments in both Kuwait and wider region.
The delegation was headed by NBK Group Chief Executive Officer, Issam Al-Sager; Deputy Group Chief Executive Officer, Shaikha Al-Bahar; CEO - International Banking Group, Georges Richani; and General Manager at National Bank of Kuwait - New York, Marwan Isbaih.
Delegates attending the World Bank and the IMF meetings include central bank governors and ministers of finance and development. The guest list also includes private sector senior officials in addition to representatives of the civil society and academic scholars. Participants get together to discuss key international issues including the world economic outlook, poverty eradication, and economic development.
Events include meetings of the Development Committee, the International Monetary and Financial Committee, the Group of Ten, the Group of Twenty-Four, the Group of Thirty and various other constituencies. The International Monetary and Financial Affairs Committee is scheduled to discuss the world economic performance as well as future trends and provide an update on the international financial markets and the risks impacting performance, in addition to discussing key polices to mitigate such risks. This year's annual meetings discussed several important topics including the global economic outlook report, in addition to shedding light on Fintech innovators as drivers of inclusive economies and catalyzing environmental, social and governance investment.
Other key topics of discussion include integrated solar energy plans, unleashing the potential of women entrepreneurs through finance and markets as well as the international development association's role in comprehensive development.
The annual meetings bring together a large number of officials from member countries, providing opportunities for formal and informal discussions.
A number of seminars are held on the sidelines of the meetings, in addition to the Per Jacobsson Lecture on international finance, which is sponsored by a foundation set up in honor of the IMF's third Managing Director. NBK is keen to attend global forums and international conferences to stay updated of the latest global developments, activities and events on global economy, international development and the financial system.