Conference on challenges in sukuk markets

Updated 15 November 2016
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Conference on challenges in sukuk markets

The Sukuk Conference organized by the Capital Market Authority (CMA) in collaboration with the World Bank, will be held on Dec. 6.
It will discuss the role of debt markets in supporting the economic growth in addition to other several topics discussed in five sessions. Government officials and representatives from the World Bank and the private sector, as well as economists and financial partners in the capital market will participate in the conference.
The conference sessions will include topics such as: Elements of sukuk markets, dynamics of sukuk markets, establishment of an effective environment for sukuk market, regulatory issues and governance in the sukuk market, and the role of debt markets in economic growth.
The CMA pointed out that the conference aims to achieve its strategic objectives, which include deepening the capital market and encouraging the issuance of debt instruments, in addition to promoting the economic development of the Kingdom within the 2030 Vision.
Furthermore, the CMA is working hard to develop the debt instruments market in the Kingdom due to its importance in national economy, and being a major support to the funding of development projects.
As the introduction of the debt instruments market and its continues flourish depends on a combination of success elements associated with the CMA and third parties, this would require coordination with those parties and they all need to agree on the importance of sukuk and debt instruments market in the future as a main financing source to support commercial banks.


Global Leadership Awards feature three Saudi winners

Sofana Dahlan, founder of Tashkeil; Malaysian Consul General Dato Mohammed Ali bin Selamat; Saudi media and political analyst Khaled Almaeena; Khashoggi Holding Group Vice Chairman Hassan Khashoggi and Mohamed Rafeeq, CEO, My Events International Saudi Arabia, at the event in Jeddah recently. (Photo/Supplied)
Updated 16 min 5 sec ago
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Global Leadership Awards feature three Saudi winners

The 8th Global Leadership Awards (GLA), which took place in Kuala Lumpur recently, for the first time had winners from Saudi Arabia in two different categories and Saudi media and political analyst Khaled Almaeena as the Lifetime Achievement Award winner.

Almaeena hosted the Malaysian Consul General Dato Mohammed Ali bin Selamat, and the two winners of the GLA, Sofana Dahlan and Hassan Khashoggi, along with Mohamed Rafeeq, CEO of My Events International Saudi Arabia, at his office in Jeddah.

Welcoming the guests, Rafeeq said: “When we disclosed the news of GLA Secretariat’s selection of Khaled Almaeena for the Lifetime Achievement Award for his achievements in media, expatriates’ welfare and women empowerment in the region, he just had one thing to say. I would also like to see some Saudi young men and women recognized at the GLA.”

Almaeena nominated a number of Saudis who have excelled in various fields, including two Saudis who won the GLA in different categories.

Recipient of the “Leadership Excellence in Social Entrepreneurship” award, Sofana Dahlan is a well-known lawyer, social entrepreneur and among the first three Saudi female lawyers practicing in the Kingdom. She is the first Saudi female senior economic policymaker and the founder of Tashkeil, a social enterprise that promotes creative entrepreneurs.

Hassan Khashoggi, who won the “Young Entrepreneur of the Year” award, is vice chairman of the Khashoggi Holding Group, which was established in 2010. It is a leading private holding that invests in products, services and solutions for the energy and power sectors. It also invests in medical sectors, food, aviation and financial services for the real estate sector.

The event was organized by The Leaders International, a high-profile business magazine and is endorsed by American Leadership Development Association (ALDA), a US-based NGO which showcases leadership at large.

Achievements in more than 30 categories are recognized and honored with a unique award. The winners are selected by high-profile judges from all parts of the world. The event seeks to honor leaders for their exemplary contributions to global growth in economic and leadership development.

Since both the winners could not attend the event in Kuala Lumpur, My Events International Saudi Arabia had arranged for the trophies to be handed over to them by Malaysian Consul General Mohammed Ali bin Selamat in Jeddah.

The consul general told the award winners: “We hope that you attain further excellence in your respective fields. I hope this promotion of bilateral relations between Saudi Arabia and Malaysia will flourish in the future.”

Khashoggi said: “Hopefully, for future GLA events, we will have more awareness of Saudi talent that is hidden in the Kingdom and we will recognize and reward them. Thank you, Dr. Khaled Almaeena and the My Events team for this honor.”

Dahlan said: “This award is a very important bridge between Saudi Arabia and Malaysia because it not only recognizes our achievement but also opens a dialogue and creates awareness about what is really happening in Saudi Arabia beyond the news.

“It is very important that through these kinds of awards and events, we are able to bring nations together and change negative perceptions.”

Almaeena congratulated the winners and said: “These are two very fine young people making a change. Where many do their work in the limelight, they are making a change quietly. We have always recognized people from the West and it is time to look toward the East too. There is so much talent here.”