Date: 24 Mar 2022
Thursday, 24 March 2022; 1:00pm UAE Time
The end of 2021 marked a long-awaited market event following which the London Interbank Offered Rate (“LIBOR”) ceased to be published as a representative benchmark for financial products across a number of currencies. USD LIBOR is still being published until 30 June 2023, however, this is for legacy use only. Many loan market participants across the globe have spent considerable resources in preparing for the end of LIBOR, but a huge amount of work remains to be done in the MENA region. The transition from LIBOR to alternative risk-free rates (RFRs) has an impact on all financial and non-financial institutions and presents the market with significant challenges.
The target date for complete cessation of LIBOR references remains 30 June 2023. Organisations need to understand their existing exposure and take action if they have not already done so.
The Loan Market Association (“LMA”) is an authoritative trade association covering EMEA and a leading voice on LIBOR transition in the loan market. Al Tamimi & Company is partnering with the LMA to host a joint webinar on global and regional trends relating to LIBOR transition. This will be followed by a Q&A session involving a panel of key MENA market participants who will discuss LIBOR transition in the region, offering insights as to how their organisations are dealing with the cessation of LIBOR.
To help steer the discussion and to provide valuable insights, we would greatly appreciate that you fill in the questionnaire regarding your readiness for the transition away from LIBOR. The results of the survey are anonymous and will be discussed throughout the webinar. Click on the RSVP to submit your responses.
For any enquiries, please email email@example.com.