Michael H. Williams, General Manager of the International Bank of Qatar (IBQ) and a number of IBQ's clients will be attending a regional economic symposium organized by the National Bank of Kuwait (NBK) who are shareholders of IBQ. NBK which is also responsible for the management of IBQ will be holding a symposium entitled; "Leveraging the GCC Boom: A View towards ASIA' in Kuwait, on Saturday the 18th of November 2006.
Held under the patronage of Kuwait's Prime Minister Sheikh Nasser Al-Mohammad Al-Ahmad Al-Sabah, the symposium aims to highlight the opportunities available for the GCC to use the surpluses generated by the current boom wisely, to tackle challenges that have held back growth in the past, and invest for the future. It will focus on Asia, past, present and future, to draw lessons from its transformation and development, and gain a better understanding of how the global landscape is changing.
The Minister Mentor Mr. Lee Kuan Yew, former Prime Minister of Singapore, will give the keynote speech on the Singapore story and its ascendancy from third world to first.
Commenting on this important event, Chairman of NBK's Board of Directors, Mr. Mohamed Abdul Rahman Al-Baher said, "Mr. Lee Kuan Yew, who is visiting the State of Kuwait for the first time at the invitation of NBK currently advises the Government of Singapore in his capacity as Minister Mentor after spending over thirty years as the first Prime Minister in an indication that he is an indispensable leader"
"NBK's interest in hosting this prominent figure is mainly due to the distinguished and historic position he enjoys as well as the valuable lessons to be learnt by many countries in the Arab world and worldwide from the bright example of Singapore," added Al-Baher.
Thanks to the wise and prudential policies of Mr. Kuan, Singapore had become one of the major financial markets that comprise more than 700 foreign companies (institutions), 60 foreign banks in addition to a flourishing stock market that absorb US$ 60 billion – worth currency exchange transactions.
A major testimony of Mr. Lee's extraordinary leadership is that he succeeded during his 30 years tenure as a Prime Minister in pushing Singapore per capita share of the GDP from below US$ 400 per annum at the time of assuming power to approximately US$ 22.000 per annum.
About International Bank of Qatar (IBQ)
IBQ, previously known as the Grindlays Qatar Bank is one of the oldest Bank's in Qatar and celebrates 50 years of banking in 2006. Previously, it was a member of the ANZ Grindlays banking group. The Standard Chartered group acquired the bank in 2000 and in 2003 sold its % stake to local shareholders, which made the bank fully locally owned and independently managed.
In 2004, National Bank of Kuwait acquired 20% stake in the Grindlays Qatar Bank, and assumed management responsibility. At the same time the name was changed to the International Bank of Qatar.
