Riyad Bank becomes first Saudi bank to introduce Mastercard Digital Enablement Service

The Mastercard Digital Enablement Service (MDES) is a platform that supports the management, generation and provisioning of digital payment credentials into mobile devices to enable simpler and more secure digital payment experiences.
Updated 27 December 2017
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Riyad Bank becomes first Saudi bank to introduce Mastercard Digital Enablement Service

Riyad Bank, one of the largest financial institutions in Saudi Arabia, announced the launch of the Mastercard Digital Enablement Service (MDES), becoming the first local bank to offer the new global digital payment service in the Kingdom.
The Mastercard Digital Enablement Service (MDES) is a platform that supports the management, generation and provisioning of digital payment credentials into mobile devices to enable simpler and more secure digital payment experiences.
With shopping becoming an increasingly multi-channel process, MDES is making purchasing even faster, simpler and more secure. After adding their card details to the Riyad Bank wallet application on their smartphone, consumers no longer need to pull out their card at checkout: They simply tap on a contactless-enabled POS terminal and enter their password to complete the payment. MDES optimizes in-store checkout experience, making everyday payments hassle-free. This kind of simplicity is fundamental to the growth of electronic payments.
“The digital revolution we are currently witnessing, augmented by the increased growth in e-commerce and the proliferation of smartphones and tablets, means that any connected device has the potential to become a commerce device. As our global digital payment service goes live in Saudi with Riyad Bank, Mastercard cardholders as well as merchants in Saudi will enjoy the benefits of safety, security and convenience,” said Khalid Elgibali, division president for Middle East and North Africa, Mastercard.
MDES guarantees the highest possible standards of security and privacy. It offers the bank’s cardholders a variety of services and the ability to make transactions and manage their cards via a mobile banking application. The reliability and security of transactions offered by Riyad Bank, along with the global MDES, now ensure maximum security for payments made via smartphones and credit or prepaid cards issued by Riyad Bank, anywhere and anytime.
MDES enables retailers to offer a fast, simple shopping experience, thereby reducing queues and time at checkout.
Saudi consumers will now be able to use the service when shopping from many types of Android devices while the retailers using contactless POS terminals will be able to offer fast and secure payments to international customers.
Riyadh Al-Zahrani, executive vice president, Retail Banking, Riyad Bank, said: “Riyad Bank has always been at the forefront of innovation in the banking and payments space. The launch of MDES is another example of providing cutting-edge payments solutions to our customers. Now, they can pay using their mobile phones, and will not need to carry cash or plastic cards.”


Role of Indian engineers in KSA lauded at IEF meet

Updated 17 July 2019
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Role of Indian engineers in KSA lauded at IEF meet

Indian Engineers Forum (IEF) Jeddah Chapter recently held its 13th annual general meeting at Hotel Ramada Continental.

Ambassador of India to Saudi Arabia Dr. Ausaf Sayeed graced the event as chief guest and Consul General of India Noor Rahman Sheikh was guest of honor. IEF President Mohammed Sayeeduddin presided over the function.

Expressing appreciation for the activities of the forum, Ambassador Dr. Sayeed recalled its foundation in 2016 during his tenure as consul general of India in Jeddah.

He lauded Sayeeduddin, Amir Khan, Shuja Sheriff and other members and engineers for the activities of the forum and their contribution to the development of Saudi Arabia. Dr. Sayeed highlighted scarcity of water as an acute problem in the world in general and in India in particular. He shared his experience of interacting with engineers in the US, who developed a water condensation machine to extract water from humid air.

Consul General Noor Rahman Sheikh applauded IEF for its services to the engineering community in Saudi Arabia. He highlighted how the excellence of Indian engineers in each sector has impacted society. 

“Our zeal to be the best in whatever we do was demonstrated during last year’s Hajj. The mobile app developed by the Consul General of India is going to help the 200,000 pilgrims expected to come this year,” he said.

Amir Khan, founder and chairman of IEF, said IEF provides a platform for networking, career advancement, community service, and technology exchange. He urged Indian engineers to play a vital role in the development of Saudi Arabia, which he said would help strengthen the relations between India and the Kingdom.

Sayeeduddin thanked Dr. Sayeed for his support in the foundation of IEF. He announced that, having served as founding president for the last 13 years, he is now stepping down and the new president, unanimously elected, will be Khan Mustafa.

Nadeem Ahmed Ali, executive member of IEF, delivered a presentation on digital disruption.

Syed Nasir Khursheed, IEF general secretary, conducted the program.

Indian real estate advisory firm/ institutional channel partner 360 Realtors LLP participated in the event and were the main sponsors. A presentation covering major construction, residential and commercial projects in India was made by S. K. Vivek Kumar, head of international sales, 360 Realtors. Amit Hariyal also delivered a presentation on residential projects across the Indian cities of Bangalore, Chennai, Hyderabad and Pune. 

Abdul Rahman, general manager of TA Infra Projects, expressed happiness to be part of the IEF.

Khader Memon made a presentation titled “Special Investment Plan.”

The chief guest, guest of honor and sponsors were presented mementoes as a token of appreciation by the IEF president and executive committee. This was followed by the release of the annual magazine of the forum, Spectrum 2019, edited by Muazzam Sayeed.

A lively session of quiz was conducted by Munnawar Amafh. 

The event was attended by a number of guests from across the Kingdom, including Abdul Haseeb Hazari, Danish Ghafoor, Siadat Ali Khan, Shameem Kausar and Ahmed Omais.

The program started with a recitation of the Holy Qur’an by Talha Khan. Ashraf Nawaz Qureshi, IEF treasurer, welcomed the guests.

IEF Vice President Abu Bakar Sherkhan introduced the chief guest while Mohammed Shoebuddin, IEF chief coordinator, presented a vote of thanks.