FINANCE - Middle Eastern lenders discuss union

'We hope that the outcome of this conference will leave concrete milestones and a timeline for us to integrate the financial systems,' says Faris Sharaf, the Jordanian Central Bank governor.

Turkish Central Bank Gov. Durmuş Yılmaz called on Turkish lenders to invest in the Middle East to grow their businesses, while making a significant contribution to the banking systems of the region’s countries in the meantime.

Speaking on the first day of the “ShamGen Banking” meeting, an event hosted by Turkey’s Central Bank to discuss opportunities among Turkey, Syria, Lebanon and Jordan, Yılmaz said Turkey paved the way for cooperation for the entire region with its policy of “zero problems with neighbors.” (full story)

EVENTS - CONFERENCES - Enhancing Shamgen banking - Turkey, Syria, Lebanon and Jordan (March 28-29, 2011)

Venue : Conrad Hotel Istanbul

Languages : simultaneous English, Arab and Turkish

Info : http://www.tkbb.org.tr/download/SHAMGEN2011.pdf

29 March 2011, Tuesday - Conrad Hotel, Ballroom

09:00 - 09:15 Keynote Speech: Islamic Banking prospects for future cooperation

                      Mr. Raed. H. Charafeddine, First Vice-Governor, Banque Du Liban

09:15 –10:15 Fifth Session: Islamic Banking practices in ShamGen countries

                      Chairman: Mr. Osman Akyuz, General Secretary of the Participation Banks Association of Turkey

                      Mr. Mahmoud AbuShamma , CEO International Islamic Liquidity Management

Corporation , Kuala Lampur

                      Dr. Muhammad Halabi, CEO Al Baraka Bank Syria

ECONOMY - Arab economies face import onslaught

ANKARA: Turkey and its Arab neighbors are due to enter into a free-trade area (FTA) agreement early next year, a pact both sides see as politically beneficial. But closer trade ties have already begun causing economic disruptions in Syria and could threaten the other Arab partners as Turkey's industrial juggernaut gains freer access to their markets.

Since the two sides have eased trade barriers, including a bilateral FTA signed in 2005, Syria has been hit by an onslaught of exports from neighboring Turkey. Turkish exports to Syria have quadrupled in the five years and in 2009, Syria ran a $756 million trade deficit with Turkey.