Thursday 14 / November / 2024
Muscat: In a significant step for Oman’s financial sector, Future Event Media & Productions, in collaboration with AW Holding INT’L, organised the nation’s first-ever conference titled “The First Credit & Collection Summit Oman: Navigating Credit Excellence”,
focused on credit management and debt collection.
Held at the Movenpick Hotel Muscat under the patronage of His Highness Sayyid Mohammed bin Salem Al Said, the event brought together leading financial experts, banking professionals, debt collectors, attorneys, and corporate leaders from Oman and the broader GCC.
The conference aimed to highlight the critical importance of integrating effective credit management and debt collection strategies into business operations to strengthen economic resilience.
The event kicked off with an opening address from Ayman Al Wadi, Group Executive Chairman of AW Holding INT’L, who outlined the conference’s objectives and provided historical context on the debt collection industry’s positive impact on the economy.
He emphasised the importance of adopting robust credit management strategies for the long-term success of businesses. Following the opening remarks, a ceremonial honouring of VIP guests, sponsors, and speakers took place, recognising the contributions of key participants in the event’s success.
The conference featured two main streams of sessions designed to address various aspects of credit management, debt collection, and the role of technology in shaping the future of financial practices.
The first stream focused on “Credit management and debt collection strategies”, with sessions exploring themes like economic security, credit insurance, and cross-border debt management.
The sessions covered vital topics such as “Economic Security: Protecting Assets Locally and Internationally,” “The Latest Solutions in Credit Insurance and Debt Management,” and insights into extending and collecting credit in both amicable and legal ways.
The speakers included Sheikh Khalil Al Harthy, CEO of Credit Oman, who shared valuable insights on local and international credit management practices. Ahmed K. Al Balushi, Director of Claims and Recoveries at Credit Oman, provided expertise on debt recovery strategies, while Stefan Cohrs, Senior Vice President at EOS Group, highlighted best practices in international debt collection.
Dured Manie Al Sadoun, Managing Director at S Law Firm, also spoke on legal frameworks for debt collection, and Ayman Al Wadi discussed the evolving role of debt collection in supporting economic growth.
The second stream was tailored for “banking and corporate sector professionals”, offering discussions on managing banking debt portfolios and maximising credit opportunities to boost Omani industries and GCC sectors.
Notable sessions included “Promising Credit Opportunities to Maximise Omani Industry and Various Sectors in the GCC,” and “Effective Strategies for Managing Banking Debt Portfolios.”
Panelists in this stream included Wesam Al Ammari, Head of Collection at Al Futtaim Automotive, who shared insights into managing collections within large corporations. Amit Budholiya, Head of Credit at Al Hashar Group, and Rayomand Palkhiwala, CFO of Bahrain Aluminum Extrusion, discussed strategies for optimising credit in the corporate sector.
Mohamed Jawad, CFO of Oman Qatar Insurance, also participated, providing an overview of how credit management can benefit the insurance sector.
The session on banking debt portfolios was moderated by Jihad Al Balushi, senior banking professional, and included key figures such as Errol Pereira, Head of Credit at Bank Muscat; Younis Al Sulaimi, Head of Collection at Alizz Islamic Bank; Talal Al Balushi, Senior VP and Head of Collection at Sohar Bank; and Fateh Muhammad, Head of Credit Risk Review at an Investment Bank, who all shared their expertise on effective debt portfolio management.
A networking lunch allowed attendees to engage in further discussions, exchange ideas, and foster collaborations.
The event also featured interviews with key speakers and industry leaders, offering deeper insights into the future of credit management, particularly the increasing integration of AI and technology in streamlining debt collection processes.
Organisers also announced the dates for the next edition, further emphasising the importance of evolving financial strategies in line with Oman’s Vision 2040.
