Muscat: In a significant milestone for Oman's financial sector, Future Event Media & Productions, in collaboration with AW Holding INT’L, organized the inaugural conference titled “The First Credit & Collection Summit Oman: Navigating Credit Excellence,” which was centered around the themes of credit management and debt collection.
Hosted at the prestigious Movenpick Hotel in Muscat, under the esteemed patronage of His Highness Sayyid Mohammed bin Salem Al Said, the event convened a distinguished panel of financial experts, banking professionals, debt collectors, attorneys, and corporate leaders from both Oman and the wider Gulf Cooperation Council (GCC) region.
The primary objective of the conference was to underscore the paramount importance of integrating effective credit management and debt collection strategies into business operations to fortify economic resilience.
The proceedings commenced with an opening address by Ayman Al Wadi, the Group Executive Chairman of AW Holding INT’L, who delineated the conference's objectives and provided historical context regarding the positive impact of the debt collection industry on the economy.
He emphasized the necessity of adopting robust credit management strategies for the sustained success of businesses. Following the opening remarks, a ceremonial recognition of VIP guests, sponsors, and speakers was conducted, acknowledging the significant contributions of these individuals to the success of the event.
The conference featured two primary streams of sessions, each designed to delve into various dimensions of credit management, debt collection, and the influence of technology on the future of financial practices.
The first stream was dedicated to “Credit Management and Debt Collection Strategies,” with sessions exploring a range of topics including economic security, credit insurance, and the management of cross-border debt.
These sessions addressed critical issues such as “Economic Security: Protecting Assets Locally and Internationally,” “The Latest Solutions in Credit Insurance and Debt Management,” and insights into the extension and collection of credit in both amicable and legal manners.
Among the distinguished speakers were Sheikh Khalil Al Harthy, CEO of Credit Oman, who imparted valuable insights into local and international credit management practices. Ahmed K. Al Balushi, Director of Claims and Recoveries at Credit Oman, offered his expertise on debt recovery strategies, while Stefan Cohrs, Senior Vice President at EOS Group, highlighted exemplary practices in international debt collection.
Dured Manie Al Sadoun, Managing Director at S Law Firm, also contributed to the discourse on legal frameworks for debt collection, and Ayman Al Wadi discussed the evolving role of debt collection in fostering economic growth.
The second stream was specifically tailored for professionals in the banking and corporate sectors, providing a platform for discussions on managing banking debt portfolios and leveraging credit opportunities to enhance Omani industries and various sectors within the GCC.
Notable sessions included “Promising Credit Opportunities to Maximize Omani Industry and Various Sectors in the GCC,” and “Effective Strategies for Managing Banking Debt Portfolios.”
Panelists in this session comprised esteemed professionals, including Wesam Al Ammari, the Head of Collection at Al Futtaim Automotive, who imparted his expertise on the management of collections within the context of large corporations. Amit Budholiya, the Head of Credit at Al Hashar Group, and Rayomand Palkhiwala, the CFO of Bahrain Aluminum Extrusion, engaged in a dialogue on strategies aimed at optimizing credit within the corporate landscape.
Mohamed Jawad, the CFO of Oman Qatar Insurance, also contributed to the discussion, offering a comprehensive overview of the advantages that effective credit management can bring to the insurance industry.
The segment on banking debt portfolios was facilitated by Jihad Al Balushi, a distinguished banking professional, and featured notable participants such as Errol Pereira, the Head of Credit at Bank Muscat; Younis Al Sulaimi, the Head of Collection at Alizz Islamic Bank; Talal Al Balushi, the Senior VP and Head of Collection at Sohar Bank; and Fateh Muhammad, the Head of Credit Risk Review at an Investment Bank, who collectively shared their insights on the best practices for managing debt portfolios.
A networking lunch was incorporated into the event, providing attendees with an opportunity to engage in further discussions, exchange ideas, and cultivate collaborations.
The event also included interviews with key speakers and industry leaders, offering a more profound understanding of the future trends in credit management, particularly the increasing role of artificial intelligence and technology in the optimization of debt collection processes.
The organizers also announced the forthcoming dates for the next edition of the event, underscoring the significance of adapting financial strategies to align with Oman’s Vision 2040.
