During 2023, the deterioration of economic output and the escalation of interest rates will result in more trying circumstances for the finance houses. The effects will be particularly phenomenal in North America and Europe, where governments will provide assistance. Asia will also experience a challenging environment, although the impact will be less severe. The present capital market crunch will impede a broad array of loss-making technology firms that aimed to overtake established companies in banking, payments, and other areas. Finance houses globally will confront more arduous conditions in 2023 in a setting marked by slowing economic growth, soaring prices, unevenly increasing interest rates, and escalating international political tensions. MENA region, particularly GCC have significantly enhanced their resilience over the past decade by fortifying their capital and liquidity positions and divesting from non-core activities and markets. While stakeholders are skeptical due to public oversights disasters such as Abraj Capital, we are there to support the regulator, the shareholder, and the Board to steer the enterprise clear of such blackholes.
We have worked with the financial industry to embrace the impacts and devise responses to their operational models. We are well versed with the frameworks of capital and financial markets such as Central Banks, and Capital Market Authorities of GCC countries, ADGM and DIFC in the UAE and SAMA in Saudi Arabia, and have supported the NBFCs in the areas of Basel framework, prudential compliance, core operating systems, credit and operational risk and internal audit, AML/CFT, and expert secondments. Partnering with AJMS Group will ensure that your risks are spotted before hand and addressed fiercely and comprehensively.