Union of Arab Banks congratulates Arab Chamber in Hong Kong, on the success in its first year.

March 14, 2008 - PRLog -- Union of Arab Banks (UAB), Secretary General Dr. Fouad Shaker expresses “I would like to gain this opportunity to congratulate you on the enormous success that the chamber has achieved during its first year in Hong Kong …” to Lord Edwin E. Hitti, President of The Arab Chamber of Commerce and Industry, in Hong Kong.

Dr. Fouad Shaker expresses “I would like to gain this opportunity to congratulate you on the enormous success that the chamber has achieved during its first year in Hong Kong and to express our deep belief in the importance of the Arab Chamber as a fundamental pillar in reengineering not only the financial sector in the Arab world but also the whole economic community towards faster and more adequate integration into the international economy.

The Union of Arab Banks was formed on March 13, 1974, fostering cooperation between Arab banks; developing of Arab financial business, and enhancing the financing role of Arab banks in the Arab region. UAB comprises today more than (300) Arab financial and banking institutions representing the major and biggest Arab banks. This makes the Union the largest banking and financial consortium in the region and the true representative of the Arab banking community. The members of the Union consist of two categories: The First category combines active members and includes all Arab banking, financial, and investment institutions and joint Arab foreign banking institutions. And the second category combines observer members and includes Arab central banks, Arab banking associations and joint Arab-Foreign financial institutions in which the Arab share is less than 51% but more than 25%.

Dr. Fouad Shaker adds “Moreover, I would like to express UAB’s keenness and interest in maintaining and enhancing the channels of communication with your good-self for further potential cooperation. I hope we will have the opportunity to meet in the near future for discussing the possibility of cooperation between UAB, as a professional banking-training organization and your highly-esteemed organization”.

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The Arab Chamber of Commerce & Industry (ARABCCI) was established in 2006 as a non-profit organization in accordance with the Hong Kong Societies Ordinance, independent of any Government with the sole purpose of promoting commercial ties between Hong Kong, China and the Arab World.

Website: www.arabcci.org