Wow, SIBOS, the 20+ year brainchild of SWIFT is upon us again!
There is no event that excites me like SIBOS. I have been to 11 of the last 13 SIBOS's and sad to say that I will be missing this years in Dubai. There are so many expectations for SIBOS and this year is no exception. Top of my list is the Bank Payment Obligation
(BPO) which in a historic trade event was given financial standing with the passing of the ICC Banking Commission vote approving the Uniform Rules for the BPO. I say historic as this is the birthing of a new trade instrument.
Dubai is such an excellent location for SIBOS and the changes that I have seen in Dubai are amazing. The first time I was in Dubai was 1985 and the funny thing then was most people preferred to live in Sharaj, and not Dubai. Of course that has changed as
has the old Dubai airport which was a bit less pretty when I flew in. (http://www.dubaiasitusedtobe.com/pages/galleries/p7hg_img_7/fullsize/airport_1960s_fs.jpg)
The amazing change and continued expansion of Dubai Airport is brilliant. Dubai has been a center of trading activity for centuries and has reinvented itself as the central transportation hub between Europe and Asia. Additionally, it is a tourist destination
for people everywhere as just the name, Dubai, inspires wonderment.
Let me end for now by saying hello to all of my friends at SIBOS. To my SIBOS friends who I only get to see each year at SIBOS. Expect to see me next year...
Tomorrow the Golden Age of Trade -
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