GIB launches trial phase of retail banking services

Updated 08 July 2014

GIB launches trial phase of retail banking services

Gulf International Bank BSC (GIB) has initiated its trial phase for retail banking services to Saudi customers under the meem brandname.
The bank will provide services to the retail banking sector “using a bold and innovative approach focused on technology” and will provide a suite of non-traditional products that are considered a new addition to the Saudi banking sector, which is set to propel the bank into a new era.
In developing its retail services for specific customers, GIB adopted the co-creation concept with a large target customer base using various social media channels over the last three years to contribute to the shaping of meem’s identity, as well as defining the bank’s product offering throughout the establishment phase. This co-creation experience is considered the first of its kind in the banking sector globally.
Meem is a registered trademark and an independent brand, offering a suite of innovative Shariah-compliant non-traditional banking services that are approved by the Saudi Arabian Monetary Agency (SAMA) and target a technophile customer base.
Initially, meem network comprises service centers in the three main cities — Riyadh, Jeddah and Dhahran — and is managed by GIB’s Saudi head office in Dhahran.
Yahya Alyahya, GIB CEO, stated that the launch of "meem" comes in response to the needs of a wide array of customers who want a new breed of banking services.
“By launching meem, we are enabling customers to benefit from a range of banking services that are both simple and flexible by availing effective solutions, which create a smooth and holistic banking experience.”
Gulf International Bank (GIB) offers a range of financial products and services that meet the needs of its customers, including investment banking services, asset management, financial market products, initial public and private offerings, sukuk and bonds issuance, and Shariah-compliant financial services.

360-degree mentoring to boost Saudi social enterprise sector

Updated 23 May 2019

360-degree mentoring to boost Saudi social enterprise sector

The King Khalid Foundation (KKF) and Mowgli Mentoring have collaborated to strengthen the growing social enterprise sector in the Kingdom through the provision of 360-degree mentoring, which will support the personal and professional development of social entrepreneurs. The EMCC-accredited mentoring organization is working to built the capacity of Saudi mentors by instilling best mentoring practices and sharing experiences from its 10-year work around the world.

Globally, the concept of social entrepreneurship is increasingly gaining momentum and positive attention as it combines commerce with social good, allowing entrepreneurs to go beyond profit to positively impact communities and societies. Supporting these entrepreneurs, therefore, is in line with the KKF’s vision, which is to have a Saudi society with equal opportunities.

The KKF’s collaboration with Mowgli resulted in the creation of the Athar (Impact) Mentoring Program.

This program aims to build and increase the capacity of Saudi mentors, and equip them with the necessary tools to be able to provide mentorship, support and guidance to social entrepreneurs in the Kingdom. Matching mentors with social entrepreneurs and managing their mentorship relationships is a key benefit of the program.

To commence the mentoring program, Mowgli recently delivered a four-day workshop in the KKF premises in Riyadh. Fourteen professionals and business leaders received training to be 360-degree mentors before being matched with 14 social entrepreneurs. Both groups were provided with the guidelines to build solid foundations for their 1-2-1 mentoring relationships. In addition, the matched pairs will be supported over a duration of six months, during which structured on-going support will be provided to ensure that trust-based and impactful mentoring relationships are developed.

Mowgli Mentoring’s CEO Kathleen Bury said: “We see this program supporting the three themes on which the Kingdom’s Vision 2030 was built upon: Developing a vibrant society, a thriving economy and an ambitious nation. By supporting social entrepreneurs, we’re working toward achieving the Kingdom’s economic aspirations of increasing SME GDP contribution by 20–30 percent by 2030. We are, therefore, excited to be back in Saudi Arabia and are honored to be working with the King Khalid Foundation in delivering this program, and building Saudi Arabia’s mentoring capacity to sustainably support change-makers and their surrounding ecosystems for years to come.”

The key to developing entrepreneurship and fostering economic development lies in having a well-balanced ecosystem with equal investment in four key pillars: Environment (schooling, parenting), finance (working capital, debt and equity financing), infrastructure (incubators, accelerators, utilities and sound legal frameworks) and human capital development (mentoring, skills and knowledge development). Mowgli supports the latter and has successfully delivered more than 110 mentoring programs across the Middle East, North Africa and sub-Saharan Africa.