Doha, Qatar: The Middle East and North Africa (MENA) Forum on insovancy cicked off today under the theme "Preserving Value Through Efficient Restructuring and Exit: Best Practices and Innovative Policies in Insolvency". The two-day forum is organized by the Ministry of Commerce and Industry (MOCI) in cooperation with the World Bank Group and INSOL International.

The opening session was attended by representatives from government and private entities in Qatar, as well as a select group of officials, experts, and specialists from various countries in the region and around the world.

The session featured speeches by representatives of the organizing bodies, who addressed the importance of developing insolvency and restructuring systems, strengthening regional cooperation to exchange expertise, and adopting international best practices in this field.

The first day featured a series of panel discussions and workshops where participants reviewed the experiences of several countries in developing legislation and implementation procedures in the field of insolvency, and discussed the most prominent current challenges in the region.

The sessions also addressed the latest practices related to improving the efficiency of bankruptcy proceedings, including electronic case management applications that contribute to expediting and enhancing the efficiency of these procedures.

The sessions also discussed ways to develop restructuring practices in the Middle East and North Africa region, encouraging company management and stakeholders to utilize the restructuring options available under insolvency laws, including legal incentives, and overcoming the stigma associated with bankruptcy and building a corporate culture of restructuring, thus contributing to business continuity and sustainability.

The forum program includes specialized sessions and workshops addressing the importance of building the capacity of professionals in the field of bankruptcy through the establishment of an effective regulatory framework encompassing licensing and supervision, in addition to building the necessary skills to enhance their knowledge and expertise in handling restructuring and liquidation cases.

The program also addresses the role of technology and artificial intelligence in enhancing the efficiency of legal and regulatory practices in this field. It includes a session discussing the relationship between government contract laws and insolvency laws, and a workshop on preventive insolvency tools and procedures, covering advanced restructuring strategies implemented globally, including early warning systems and pre-insolvency preventive frameworks.

The Forum aims to foster high-level dialogue between private sector actors, policymakers, academia, and the judiciary on insolvency, creditor rights, and restructuring law in MENA; establish a forum for sharing experience and knowledge among international bodies, countries, and experts; and promote insolvency and restructuring reform in MENA and encourage the establishment of an annual forum to stimulate discussion and learning among policymakers and professionals across the region.

It also aims to discuss the latest developments and practices in insolvency and restructuring, exchange experiences on developing legal and regulatory frameworks that support business sustainability and enhance confidence in the investment environment, and disseminate knowledge of best practices and innovative policies in this field.

This is the second edition of the forum, which was established in 2023 by the World Bank Group and INSOL International, to serve as a regional platform for the exchange of knowledge and experiences in the field of insolvency and restructuring.

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