The Institute of Chartered Accountant of India Bahrain Chapter

GCC Regional Conference 2010 Global Financial Markets:The Road Ahead January 14-15, 2010 The Diplomat Radisson Blu Hotel, Kingdom of Bahrain

GCC Regional Conference 2010

Global Financial Markets: The Road Ahead January 14-15, 2010 • The Diplomat Raddisson Blu Hotel, Bahrain

“The basic economic resource is no longer capital, nor natural resources, nor labour; it is and will be knowledge.”

Peter Drucker.

2009 has been a tough year for the financial markets. As the world economy begins to show signs of recovery, financial experts

have shifted gears in determining key rising markets and the effects of the fiscal stimulus by governments and how they can

identyfy new, growing trends. Proper investment is not an easy process. It requires a systematic approach. It needs foresight. It

needs planning. Through the ICAI’s Regional GCC Conference, experts will identify the benefits in identifying key financial markets

and the outlook that 2010 holds for the global economy.

World Stock Markets – An Overview

The stock markets have become a buzzword in the modern world. In fact, the stock market

mechanism has a pervasive impact on so many across the globe – irrespective of their education,

occupation or financial background. Gone are the days when stock markets were restricted only

to those few people who were market savvy. With the advent of computerized networking and

internet technology, trading in shares and derivatives has become accesible to all investor.

The Global Financial meltdown had its effect in the Asian markets too. The Indian stock market,

which was cruising at more than 20,000 points before the crisis, plunged into a low of 8,000 in the

thick of the crisis. However, it has slowly and steadily recouped itself and is back and doing well at

more than 17,000 points towards the end of 2009. Similarly, the Shanghai stock exchange, which

was an all-time high of 6,124 points on October 2007, slipped by 65% to reach an all time low

during the financial crisis. The GCC markets have equally suffered. However, stock markets have

now started to show signs of recovery.

World Commodity Market: An Overview

Ever since the subprime crisis global equity and bond markets have been headed south. The forex markets have also seen uncertainty due to dollar volatility and weakness. The commodity markets have moved out of sync and moved up as other assets depreciated. This is true for several ranges of commodities.

There are specific reasons for the high price of particular commodities. Base metals such as copper, energy (crude oil, natural gas) and bullion (gold and silver) have traditionally been the biggest constituents of the commodity futures trading. The UN body, UNCTAD has quoted NCDEX as the third largest exchange trading in agricultural futures in the world.

Bahrain: Regional Financial Hub

Comparing Bahrain to other Asian economies, Bahrain too has been regarded as one of the best-

regulated financial centres in the Middle East and is the region’s financial capital for over four

decades. The Financial services industry has more then 400 licensed financial institutions which

contributes about 27.6% of Bahrain’s GDP. These institutions are supervised and monitored by

the Central Bank of Bahrain (CBB). The CBB is considered to be one of the finest regulators in the

Arab World and has been promoting the highest standards of corporate governance, regulation,

dynamism, license management and operational efficiency. Bahrain has several major investors,

entrepreneurs, high net-worth individuals and business houses who are keen on promoting

Bahrain’s Vision 2030 Master Plan.

Objective of the Conference

Considering the statistics above and recent trends and historical data about the world stock markets,

the following questions need to be asked:

• Is the worst over? Whether Investors have rediscovered some appetite for risk. Are rising

stock market sustainable?

• Role and effect of Fiscal Stimulus: Fiscal policies and plans, being drafted by various

economies and regulators, have resulted in stimulating the global economy, thus reducing

the depth of the downturn and fueling recovery.

• Green Shoots: What are the signs of recovery?

• Strategies for investors: Developed markets or emerging market? Defensive or growth

stocks? Invest or book profits?

The ICAI Bahrain has taken the initiative to give us an opportunity to learn from astute and

experience investors in India and the Middle East who understand the markets. ICAI Bahrain is

planning to listen to the words of wisdom of these prodigies during the GCC Regional Conference

– 2010, which is scheduled to be held on January 14-15, 2010, at The Diplomat Radisson Blu

Hotel, Manama. This would be a landmark event in the Kingdom of Bahrain wherein the stage

would be shared by so many great personalities. This would indeed be a great opportunity for

several prospective corporate houses that are looking forward to establishing their representative

offices in investor-friendly Bahrain. This conference would also provide an opportunity to enhance

business ties between Bahrain and India.

What’s in store for you?

Value Addition

This conference will be of value to all those who:

• Indulge in financial markets

• Needs to understand the impact of the financial crisis on markets

• Comprehend the effect of corrective and regulatory measures on the markets

• Learn from the stalwarts, the tricks and nuances of the global and Asian markets

Networking

You will have the opportunity to meet up with the eminent dignitaries from various leading:

• Regulatory bodies and institutions

• Renowned professionals from diversified industries

CPE Hours

BCICAI has applied for 12 CPE hours Credit

The conference will also prove to be a great ground to share knowledge, discuss real-time issues

with experienced professionals and gain advantage of the collective experience all our eminent

speakers and delegates.

Conference Chairperson

CA Uttam Prakash Agarwal President, The Institute of Chartered Accountants of India

CA Agarwal is a member of the National Advisory Committee on Accounting Standards constituted by the Ministry

of Corporate Affairs, Government of India. He is alos a member of the Audit Advisory Board and the Government

Accounting Standards Advisory Board – both constituted by the Comptroller and Auditor General of India. He

is a member on the Committee on Internal Audit constituted by the Office of Controller General of Accounts,

Government of India.

Guest of Honour

Dignitary from Central Bank of Bahrain or Bahrain Stock Exchange

Chief Guest

Mr. R. BandyopadhyaySecretary, Ministry of Corporate Affairs, Government of India

Mr. R. Bandyopadhyay is the Secretary in the Ministry of Corporate Affairs, Goverment of India. An IAS officer of

1974 batch, he has worked in various capacities in the spheres of Planning & Programme implementation, Energy,

Power, Communication & IT, Commerce and Industry. Before joining the Ministry of Corporate Affairs, he was the

Secretary, Ministry of Heavy Industries & Public Enterprises.

Dignitaries and Key Note Speakers – Day One

Mr. C B Bhave*Chairman, SEBIMr. C. B. Bhave is chairman of the Securities and Exchange Board of India (SEBI).

He was appointed in February 2008 for a period of three years. He was SEBI’s

senior executive director from 1992-1996, following which he became Chairman

and Managing Director of the then newly created National Securities Depository

Limited (NSDL).

Ms. Usha Thorat*Deputy Governor, RBIMs. Usha Thorat is Deputy Governor and Director of Reserve Bank Of India. She

serves as a Director of National Bank for Agriculture and Rural Development. Her

responsibilities cover currency management, rural banking, micro finance and

financial inclusion, regulation/supervision of cooperative banks, customer service

and internal audit/inspection. She is the Chairperson of the Bharatiya Reserve Bank

Note Mudran Private Limited (BRBNMPL), which manages two of the four currency

note printing presses in the country.

CA Keki M. Mistry*Managing Director, HDFC Bank, Ltd.

Mr. Keki Mistry is Managing Director of HDFC Bank Ltd and has been with HDFC for

over 20 years. Mr. Keki Mistry holds a Bachelor of Commerce degree in Advanced

Accountancy and Auditing and is also a Chartered Accountant. He has also worked

as a consultant for the Mauritius Housing Company and Asian Development Bank.

Mr. Mistry is Vice Chairman & Managing Director of Housing Development Finance

Corporation Limited and Chairman of GRUH Finance Limited.

* Confrimation awaited

January 14, 2010 De-risking of Financial Markets - Perspective and Approach4.30 PM 5.30 PM Registration and Welcome 5.30 PM 6.00 PM Inauguration 5.30 PM 9.00 PM Key Note Speeches 9.00 PM Onwards Indian Folk Dance & Dinner

January 15, 2010Towards a Mature Financial Market – Global Perspective on Equity Cult and Commodities9.00 AM 1.00 PM Key Note Speeches

1.00 PM 2.00 PM Lunch

2.00 PM 5:30 PM Key Note Speeches

5:30 PM 6:00 PM Valedictory Session

Key Note Speakers – Day Two

CA Anand Rathi

Founder & Chairman, Anand Rathi Investment BankPrior to establishing his own company, Mr. Rathi headed Indian Rayon & Industries,

as Senior President. He has held a series of responsible positions with the Birla group

and was also instrumental in setting up of Birla Global Finance. In his 40 years of being

in the corporate world, Mr. Rathi has held several key positions on various regulatory

and professional boards, including, President, Bombay Stock Exchange (BSE), and

Member, Central Council of Institute of Chartered Accountants (ICAI).

Mr. Anthony C. Mallis

Chief Executive Officer of SICOHe is a CEO of Securities & Investment Company (SICO), a Bahrain based investment

bank. Anthony has over 30 years’ international banking experience. Prior to joining

SICO he was a partner in a London-based private equity firm focusing on the Middle

East. Mr. Mallis has held senior positions at Credit Suisse Asset Management and

its predecessor CSFB Investment Management as a Director responsible for Global

Marketing, he was also Head of Institutional and Government clients for the Arab

World at Bankers Trust Company, where he was responsible for leading a number of

investment banking transactions in the Gulf Region. He also worked with Gulf

International Bank and Citibank in Bahrain, London and Riyadh. He is a board

member of ABQ Zawya and until recently was a Board member of the Bahrain

Bankers Association. He holds a Bachelor’s degree in Business Administration from

the American University of Beirut, and has attended the Stanford Business School’s

Stanford Executive Program”.

CA Bharat Shah

CEO & Managing Director, ASK Investment CA Bharat Shah is CEO and Managing Director of ASK investment. He is C.A., C.W.A.,

MBA (IIM Cal) and has total experience of 22 years of which last 18 years have been

spent on work related to capital markets while the remaining period is in the area of

corporate finance and accounts. Prior to the present role he has worked for 8 years

as CIO (Chief Investment Officer) of Birla Sun Life AMC Ltd., Mumbai.

CA Shivkumar Goel

Managing Director, Bonanza Financial Services Being the Founder Director of Bonanza, he has been handling IT &

risk initiatives since inception. Formerly, designated as the CEO of SRF

Finance Limited, Delhi; Mr. Shivkumar Goel had also spearheaded the IT

committee of the Delhi Stock Exchange. A CA & CS with more than 30 years

of experience, he recently was nominated as the executive committee

member of Depository Participants Association of India. He is currently a

functional member with Association of National Exchanges Members of India.

CA Arnav Pandya

Certified financial planner and columnistCA Arnav Pandya is Chartered Accountants, MBA from IIM Bangalore and certified

financial planner. He is regular columnist and contributor on financial topics for

publications like Hindustan Times, Business Standard, and Economic Times. He led

the research team in the Economic Times Intelligence Group during 2001-2006. He

started columns like “The Buck Starts Here” and “Odds on Eve” in The Economic

Times. He is author of content for 10 educational CDs on various areas of personal

finance.

Conference Hosted by:

Executive Committee ofInstitute of Chartered Accountants of India - Bahrain Chapter

Position Name Telephone Email

Chairman CA Alok Gupta 39528050 alokbahrain@gmail.com

Vice-Chairman CA Shaukat Lokhandwala 39850739 shaukat33@gmail.com

Secretary CA CA Gopalakrishnan 39224238 gopalakrishnanca@hotmail.com

Jt. Secretary CA TD Balraj 39944907 balrajtd@gmail.com

Treasurer CA Sanjay Gupta 39415356 sgupta_trc@yahoo.com

Member CA Rajeev Jain 36685678 rajeev.jain@citi.com

Member CA Ruchir Shah 36686104 ruchir.shah@americanexpress.com.bh

Member CA Mukta Kulkarni 17222470 muktakulkarni@kpmg.com

Member CA Nitin Mahajan 39784087 nitinmahajanca@rediffmail.com

Event Managed by: