Tom Koczwara

Director, Debt Management
Department of Finance, Government of Sharjah

Tom Koczwara


Tom joined the Government of Sharjah, in the UAE, to set up its Debt Management Office in 2012. The DMO has obtained international credit ratings for the Emirate and ventured into the debt capital markets for the first time in 2014 with a $750 million issuance in Shariah-compliant sukuk format. As well as managing the Government’s own debt portfolio, the DMO oversees the borrowing activities of 19 Government-related entities, with an objective of ensuring long-term fiscal sustainability.

Sharjah, one of seven semi-autonomous members that make up the United Arab Emirates, was assigned its first sovereign credit rating by Standard & Poor’s and Moody’s – a move that has helped strengthen its investment profile and paves the way for future debt sales.

Tom previously worked at HM Treasury, the UK’s finance and economics ministry, where he was responsible for capital funding allocations as the government turned from fiscal stimulus to consolidation in 2010, following the financial crisis. Tom has also worked with consultancy PwC, helping public sector clients in the Middle East with various policy and strategy challenges. He enjoys the countryside, crosswords and cycling.

HM Treasury is the government’s economic and finance ministry, maintaining control over public spending, setting the direction of the UK’s economic policy and working to achieve strong and sustainable economic growth. Their objectives are too:

1. Place the public finances on a sustainable footing

2. Ensure the stability of the macro-economic environment and financial system, enabling strong, sustainable and balanced growth

Speaker at these events:

Project, ECA & Structured Finance Middle East & Africa 2020

Project, ECA & Structured Finance Middle East & Africa 2019

Bonds, Loans & Sukuk Middle East 2019