Dubai World Trade Centre (DWTC) is proud to announce the launch of MEFX - The Middle East International Banking, Financial Technology & Services Exhibition, to be held on the 15th - 17th April 2008 at the Dubai International Convention and Exhibition Centre.
Inspired by the rapid growth of the banking industry in the region, MEFX is positioned as the leading Middle East, Africa and South Asia (MEASA) exhibition focusing on banking and financial products, services, applications, technology and solutions developed for banking institutions, corporations, investment and brokerage houses, securities/mortgage providers and other financial institutions.
With total IT expenditure by Middle East banks in 2006 estimated at $1.4 billion, as the region continues its strong growth and as a steady flow of new entrants entering the market, MEFX provides the essential sourcing and procurement platform for the industry.
Strong demand for IT products by Middle East's Financial Sector
-
Total spending on IT by Middle East banks in 2006 is estimated at USD1.4 billion. The sector is growing by 12%-15% per annum. According to IDC, banks in the Gulf represent the largest single vertical in terms of overall IT investments
-
GCC banks spend an average of 4.29% of their revenues on IT
-
IT Security spend in the GCC grew by 38% to USD153.2 million in 2006. The banking sector comprises the biggest market for security products
-
Business continuity projects are taking centre stage at most financial institutions. Mid-sized banks are reported to be spending up to USD30 million each to establish back-up facilities as part of their business continuity initiatives
-
Middle Eastern banks currently account for 30% of the regional storage software demand
-
Banks across the region are investing heavily in acquiring ATM fraud prevention (FDI) solutions
-
One-third of the region's top 100 banks are currently planning or in the midst of upgrading their core banking systems, and replace mainframe legacy systems, which in many instances, are 25-30 years old
-
Demand for CRM applications in the UAE alone is estimated to increase to USD90 million by 2008. With most major banks implementing CRM strategies, the financial sector will be a key driver of the expanding CRM market
Sources: Arabian Banking & Finance, Arabian Business, Banker Middle East, Business Intelligence Middle East, Financial Times, Gartner, IDC, IMF, Madar Research, Reuters, UN World Investment Report, World Bank, World Economic Forum
MEFX is the ideal platform to showcase your products and solutions to the region's top decision makers. Book your stand now !!
VISIT MEFX AT STAND AW-1 (AL WASL-CONCOURSE 1)
GITEX TECHNOLOGY WEEK, 8 TO 12 SEPTEMBER 2007, Dubai. |
