FERG meet mulls potential ties with Dubai Cares

Dubai / Emirates Business

The Foreign Exchange and Remittance Group (FERG) — comprising businesses engaged in money exchange and remittances — held its scheduled Midyear General Meeting (MGM) at the Shangri La Hotel, Dubai.
The MGM was an occasion for FERG members to network and exchange views while participating in setting the organisation’s strategy and agenda for the latter half of 2016.
During his welcome speech, FERG Chairman Osama Al Rahma conveyed his tribute to the members’ efforts in creating a robust remittance and exchange industry in the UAE. “I would like to thank all FERG members for supporting the organisation. I would also like to highlight FERG’s strong role in setting best practices in areas of anti-money laundering and anti-fraud diligence while liaising with regulators and central banks worldwide. While market turbulence is adding an element of economic uncertainty, the UAE is still a global hub for outward remittances to Asia and the Arab world. I am very confident that the remittance and exchange industry will grow strongly as we pace towards 2020,” he said.
The meeting agenda included a presentation by Dubai Cares represented by Amal Al Redha, Director of Fundraising, who introduced Dubai Cares’ local and global initiatives, and laid out a framework for potential collaboration with FERG.
The schedule also included a compelling speech by private equity investor, advisor and lecturer Dr. Gordian Gaeta, who was invited as a special guest to deliver his incisive analysis on market movements. Dr. Gaeta has decades of banking experience in global financial hubs such as Geneva, London, Zurich, Buenos Aires and Vienna. He lectures frequently at universities around the world and also heads his own private academy. His speech focused on the economic challenges and engendered risks in accordance with the global economic forecast.
“All FERG events add value to members, and our MGM is no different. While Amal Al Redha helped show members what FERG could accomplish from a CSR point of view by relying on Dubai Cares’ expertise, Dr. Gaeta’s fascinating lecture delivered an analysis of the challenges ahead as we navigate the current global financial climate. FERG believes in giving members access to resources that they otherwise might not be able to avail,” added Al Rahma.
Event proceedings included a Q&A session where members were apprised of FERG’s accomplishments in the previous months, and goals for the latter half of the year. FERG Vice Chairman, Sudhir Kumar Shetty delivered closing remarks and a vote of thanks to round off official proceedings before dinner.