SAGIA classifies Sadara as strategic

Updated 21 June 2015
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SAGIA classifies Sadara as strategic

Sadara Chemical Company (Sadara) has been classified as strategic by the Saudi Arabian General Investment Authority (SAGIA), the governmental entity established to oversee investment affairs in the Kingdom of Saudi Arabia. This puts Sadara in the highest classification category achievable under SAGIA’s current investment rankings.
This classification of Sadara’s investment status is in recognition of its commitment to enhancing the value of its investments in the petrochemical and chemical sectors of Saudi Arabia. This is also recognition of Sadara’s success in bringing associated investments into the Kingdom, providing significant employment opportunities for Saudi nationals, and driving further development of the industry or associated industries, according to SAGIA.
“We are pleased to have achieved the highest ranking with SAGIA and their recognition of Sadara’s positive impact on the Saudi economy,” said Ziad Al-Labban, CEO of Sadara. “We are driven by the support tendered to us by our stakeholders, Saudi Aramco and The Dow Chemical Company, and are committed to continuing to contribute to the enhancement and strengthening of the Kingdom’s value creation opportunities.”
“I would also like to thank SAGIA for its support of Sadara and its active role in helping the project achieve the successes it has to date,” Al-Labban added.
The evaluation criteria included a detailed appraisal of various aspects of Sadara and its business. This includes the transfer and localization of technological knowledge, diversification of the Kingdom’s economy, increasing exports and decreasing imports; developing local human resources, reinforcing and boosting the economic competitiveness of local products in both domestic and international markets, and encouraging balanced development of the various regions of the Kingdom.


Bank Aljazira launches Noor Innovation Program

Updated 10 December 2018
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Bank Aljazira launches Noor Innovation Program

Bank Aljazira has launched the “Bank Aljazira Noor Innovation Program” under the umbrella of the Fintech Saudi initiative.

The program, aligned with Saudi Vision 2030, was launched on Wednesday at the Jeddah Hilton hotel. 

It aims to foster the financial technology system in the Kingdom in order to make the country a leading center of financial technology that embraces a thriving and liable system and covers banks, investors, companies, universities and state institutions, thereby contributing to the fostering of financial inclusiveness and increase of digital financial business.

The launch ceremony was attended by executives from Bank Aljazira and Fintech Saudi, public and private sector officials and experts and specialists in the financial technology field.

“The launch of this financial technology challenge by Bank Aljazira aims to foster the bank’s position as a leader in digital banking services field in the Kingdom. 

“It also reflects the bank’s responsibility to the community,,” a press release said.