STEAM challenge develops sustainable solutions for KSA

Students with backgrounds in science, technology, engineering, art and mathematics (STEAM) were selected for the STEAM challenge.
Updated 06 February 2017
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STEAM challenge develops sustainable solutions for KSA

More than 150 university students from across Jeddah participated in a three-day innovation challenge and came up with solutions to address major real-world challenges that impact Saudi Arabia and the broader Middle East region.
The event, held Jan. 19-21, was led by the KAUST Entrepreneurship Center in coordination with leaders and subject matter experts from The Dow Chemical Company (Dow) in the Middle East and Europe. Students from King Abdullah University of Science & Technology (KAUST), King Abdul-Aziz University, University of Business and Technology (UBT), University of Jeddah, Effat University, Umm Al-Qura University and Dar Al-Hekma University participated in the event.
Students with backgrounds in science, technology, engineering, art and mathematics (STEAM) were selected for the STEAM challenge. With four to six members on each team, a total of 30 teams were formed with students from different universities and with different majors so that they could benefit from the diversity of their backgrounds and perspectives.
The winning team came up with a proposal to improve energy efficiency in the Kingdom utilizing state-of-the-art technologies by Dow, coupled with relevant incentives and education to the public. A key feature is a digital platform that connects the government, property owners, construction companies and insulation manufacturers to promote insulation of residential homes. The first runners-up developed a solution to increase shelf life and maintain quality of fish and fish packaging. The second runners-up presented a proposal on how to improve energy efficiency at homes in the Kingdom.
Chuck Swartz, president of Dow Saudi Arabia, said: “The themes of the STEAM challenges are designed to align closely to Saudi Vision 2030, Dow’s 2025 sustainability goals, and the strategic objectives of Dow in Saudi Arabia. We are truly impressed with the passion and creativity of the students as well as the solutions proposed by them. I want to thank the students for their dedication and participation and the KAUST and Dow teams for their outstanding effort in putting the event together.”
“I was particularly pleased to see the high level of energy and enthusiasm from the participating students. This, coupled with the excellent and strong support and engagement from Dow, one of KAUST’s founding strategic partners, proved to be an extremely effective way to tap into the imagination and creativity of this diverse group,” said Tristan Walker, vice president for KAUST Innovation & Economic Development.


ICD, BBI launch global private sector platform

The agreement was signed by Ayman Sejiny, CEO of ICD, and Amer Bukvic, CEO of BBI, on Wednesday at the ICD’s headquarters in Jeddah.
Updated 19 May 2019
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ICD, BBI launch global private sector platform

The Islamic Corporation for the Development of the Private Sector (ICD) and Bosna Bank International (BBI) signed a memorandum of understanding on May 16 in Jeddah. The MoU is related to a new initiative — the Global Platform for Private Sector — where the two institutions and community of like-minded financial entities can collaborate on business opportunities, exchanging market intelligence and laying a foundation for actual financial transactions within the member countries and across borders.
The signing ceremony took place in ICD’s headquarters in Jeddah and the document was signed by Ayman Sejiny, CEO of ICD, and Amer Bukvic, CEO of BBI.
Sejiny said: “ICD takes the lead in launching such a platform network to demonstrate productive applications of fintech in modern global business affairs, to help reduce financial transaction costs for its member banks, leasing companies and micro-finance institutions and to upgrade the advisory services that ICD offers to its partners across the Islamic developmental network.”
Bukvic added: “We welcome the initiative and we’re happy to be among the first entities to sign the MoU with ICD. Such a platform would open opportunities for Bosnia and Herzegovina, BBI bank and other partners once implemented, and will most certainly facilitate investment across borders. This will extend our efforts already expressed by organizing international events in the capital of Bosnia and Herzegovina, such as the Sarajevo Business Forum and the Sarajevo Halal Fair.”

 

Bosna Bank International (BBI) d.d. Sarajevo is the first bank, both in Bosnia-Herzegovina and Southeast Europe, to operate in accordance with Islamic finance principles. BBI offers several types of financial services to retail and corporate clients through its business based on ethical principles and partnership. Shariah compliance is ensured by the BBI Shariah board with members of this board being prestigious local and international experts.
The Global Platform for Private Sector will be a cloud-based, next-generation, full-featured networking and fulfillment platform hosted by ICD for the benefit of its network of 88 financial institutions and 12 leasing companies worldwide. One major goal of this online platform is the sharing of investment, advisory, sukuk, financing and other deals in an environment of common Islamic values.
ICD is a multilateral development financial institution and is part of the Islamic Development Bank (IsDB) Group. It was established in November 1999 to support the economic development of its member countries through the provision of finance for private sector projects, promoting competition and entrepreneurship, providing advisory services to the governments and private companies and encouraging cross-border investments.
ICD has an authorized capital of $4 billion. Currently, the shareholders of ICD are the IsDB, 54 Islamic countries and five public financial institutions.

Decoder

The Global Platform for Private Sector will be a cloud-based, next-generation, full-featured networking and fulfillment platform hosted by ICD for the benefit of its network of 88 financial institutions and 12 leasing companies worldwide.