• April 26, 2024

Month: November 2021

Posted on

The Minister of Defense concludes an official visit to the Kingdom of Saudi Arabia

Baghdad Minister of Defense Jumaa Inad Saadoun, at the head of a high-ranking military delegation, concluded an official visit to the Kingdom of Saudi Arabia, which came in response to the invitation of Crown Prince and Minister of Defense Prince Muhammad bin Salman bin Abdulaziz. The Minister held fruitful meetings with Saudi leaders, through which he discussed ways to develop bilateral relations and joint cooperation between the two brotherly countries.

Within the agenda of his visit, the Minister of Defense, accompanied by the commanders of the ground forces and the air force, and a number of senior leaders of the ministry, inspected the Saudi Advanced Electronics Company, King Salman bin Abdulaziz Center for Relief and Humanitarian Works, and the Saudi Military Industries Company.

The Minister also held a number of meetings with those in charge of them to serve the activation of joint cooperation in various military fields between the two brotherly countries.

 

Source: National Iraqi News Agency

Posted on

Minister of Education meets with Director of Education Sector of OECD and Tunisian Minister of Education

Paris, The Minister of Education Dr. Hamad bin Muhammad Al Al-Sheikh met at the organization’s headquarters in Paris last night, with the Director of the Education Sector of the Organization for Economic Cooperation and Development (OECD), as part of the Kingdom’s delegation’s participation in the meetings of the General Conference of the United Nations Educational, Scientific and Cultural Organization “UNESCO” headed by Prince Badr bin Abdullah bin Farhan Minister of Culture, Chairman of the National Committee for Education, Culture and Science.
During the meeting, they discussed the Kingdom’s readiness for international tests, and the efforts made by the Ministry of Education to contribute to raising the Kingdom’s indicators through those tests, as well as the Ministry of Education’s plan to develop educational curricula and tracks, in addition to discussing prospects for cooperation between the organization and the Ministry of Education.

 

Source: Saudi Press Agency

Posted on

15th Islamic Financial Services Summit Discusses Financial Technologies, Their Implications on Islamic Finance

Jeddah, The 15th summit of the Islamic Financial Services Board (IFSB), organized by the Saudi Central Bank between November 9 and 11 in Jeddah, discussed financial technologies and means to develop the Islamic financial services market with the participation of several experts in financial institutions.
The session was held under the theme “Financial Technologies and Islamic Financial Services: Market Developments and Effective Organizational Approaches” and was moderated by President and CEO of the Malaysia-based International Center for Education in Islamic Finance Dr. Mohammed Azmi Omar, where speakers included Executive Director of International Shariah Research Academy and Securities Commission in Malaysia Sharifatul Hanizah, Chairman of Financial Services Authority (Otoritas Jasa Keuangan) in Indonesia Wimboh Santoso, CEO and Secretary of the Board of Directors of the International Islamic Financial Market Ijlal El-Alawi, and CEO of Marble Capital Ltd Akeem Shina Oyewale.
Dr. Mohammad Azmi said: “The volume of financial transformations for Islamic financial services in 2020 was estimated at USD 400 billion, which means that the financial technology contributes to a very big share. Despite that, it still represents a low percentage of only 0.7% from the international financial technology, and is expected to grow by more than USD 100 billion in 2025. Consequently, the Islamic financial technology will have a big market share.”
He noted that the Kingdom of Saudi Arabia, the UAE, Malaysia and Indonesia have the biggest share of this market, in addition to having some countries that enjoy a proper environment, pointing out that there are nine categories of the financial technology in the Islamic world, which are: alternative finance, market, capital, digital assets, payment, donation support, purposes, asset administration, takaful, finance, Zakat and Awqaf (endowments).
Meanwhile, Sharifatul Hanizah said that the financial technology empowered 4,000 companies in Malaysia that reached a high level of digital assets, noting that work is currently ongoing to develop this sector through organization and legislation, where the organizational legislative program was launched for the first time in the Islamic market and is expected to have a good impact this year.
For his part, Wimboh Santoso said: “We have a special model for risk management and evaluation, and we play the role of moderator among financial institutions and supervise the income processes and accredit the central authority for businesses.”
“In 2016, we embarked on drafting laws and now we are better and bigger and started to receive several benefits, which made us aspire to be the best in the international market,” he added.
El-Alawi highlighted the importance of having reference standards in all branches of the financial technology regarding murabaha, noting that agreements were signed with six international institutions to develop these standards.

 

Source: Saudi Press Agency

Posted on

KSrelief Participates in “Regional Consultations on the Global Compact on Refugees for the Arab Region” in Cairo

Cairo, King Salman Humanitarian Aid and Relief Centre (KSrelief) in Cairo yesterday participated virtually in Regional Consultations on the Global Compact on Refugees for the Arab Region, which was organized by the Arab League in cooperation with United Nations High Commissioner for Refugees (UNHCR). Director of Urgent Relief Department at KSrelief Fahd bin Ayed Al-Osseimi represented the center in the presence of representatives of international humanitarian institutions, academic institutions and stakeholders.
Al-Osseimi said that the Kingdom of Saudi Arabia offers various humanitarian assistance to the needy in the brotherly and friendly countries that suffer from crises and humanitarian catastrophes, out of its belief and vision of being an effective member in the international community, where its relief, humanitarian and development aid covered many developing countries, where its charitable efforts are still ongoing with humanitarian assistance.
He also referred to the Kingdom of Saudi Arabia’s top pillars in supporting refugees, such as assisting the needy in the world and helping achieve the Sustainable Development Goals in developing countries, offering assistance neutrally away from any non-humanitarian or non-developmental motives, applying all followed international standards in relief, humanitarian and development programs, thanks to the high levels of professionalism and efficiency of workers in the humanitarian, development and relief sector, and guaranteeing the delivery of assistance to its beneficiaries and not to be used for other purposes.
He added that total Saudi assistance offered to refugees and displaced people around the world over the past two decades exceeded USD 17 billion, of which USD 1 billion was allocated to the UN and international organizations, while the total number of projects dedicated to refugees outside the Kingdom of Saudi Arabia between 1992 and 2021 reached 305 schemes with a total value of USD 963,233,000 that benefited 10 countries, including Syria, Palestine, Yemen, Bosnia and Herzegovina, and Afghanistan, covering the sectors of food and agricultural security, shelter, health, early recovery, education, water, environmental sanitation, security and protection, among others.
He also pointed out that the total support offered to UNRWA since its establishment exceeded USD 1 billion, while the Saudi support to UNHCR exceeded USD 300 million, referring to the Kingdom of Saudi Arabia’s support and participation in many conferences on supporting refugees and displaced people.
The director also noted that the Kingdom of Saudi Arabia has also contributed to supporting countries hosting refugees around the world and offering development support to the infrastructure sectors in host countries to help alleviate the host burdens, pointing out that the Kingdom of Saudi Arabia is the third biggest country in the world in terms of hosting migrants, where the number totaled 13 million migrants in 2020, which equals 37% of the total population.
He also spoke about visitors (refugees) in the Kingdom of Saudi Arabia, whose total number stands at 1,095,000 people from the Yemeni, Syrian and Rohingya, who were given residency inside the Kingdom of Saudi Arabia until the improvement of conditions in their respective countries or they travel to other countries, noting that the Kingdom of Saudi Arabia allows them to receive health and educational services for free and is keen for their integration in the society throughout their stay in all regions of the Kingdom of Saudi Arabia without putting them in refugee camps and allow them job opportunities.

 

Source: Saudi Press Agency

Posted on

19 Trademarks Launch Several Toys for First Time in Riyadh Toy Festival

Riyadh, The Riyadh Toy Festival will be kicked off tomorrow under the theme “Explore, Play, and Shop”, which is one of the top festivals of the Riyadh Season 2021, and will include new toys that are available for the first time for its visitors.
The festival is characterized by attracting top entertainment activities in one place over 10 consecutive days between November 12 and 21, where individuals, families and children are given the chance to explore, play and shop in the presence of 19 international trademarks that will launch new toys for the first time, in addition to the presence of other trademarks.
The festival provides a diversified group of safe entertainment activities that are made by the top renowned international trademarks, in addition to offering shows and discounts on hundreds of toys that made the festival a family destination.
It is also among the events of the Riyadh Front zone, which is one of the entertainment zones of the 2021 Riyadh Season, which attracted the top international trademarks specialized in toys that suit all tastes and hold several surprises, such as international toys that are displayed for the first time and attract all ages in the middle of interactive activities with international characters that are loved by children.

 

Source: Saudi Press Agency

Posted on

Winter Wonderland Circus Amazes Audience with Thrilling Acrobatic Shows

Riyadh, Winter Wonderland Circus is one of the biggest shows that attracts audience in the 2021 Riyadh Season.
The circus includes several breathtaking shows for the audience, where its spaces change into courses for motorcycles or ropes that performers come down from.
The audience also interacted with the comedian clowns and enjoyed breathtaking shows of fire arrows, before they felt even more amazed with the movements of agility and flying by the performers who moved from one place to another with an astonishing professionalism in conjunction with world music and colorful lights.
The circus tent is one of the miscellaneous events at the Riyadh Winter Wonderland zone with its various activities that include Dream Land Carnival, Snow Forest, Magic Toy Box, Tales of Terror, Winter Fair, and Wonder Road.

 

Source: Saudi Press Agency

Recent Post