SIMAH hosts LEI ‘Meet the Market’ Forum

Updated 08 February 2018
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SIMAH hosts LEI ‘Meet the Market’ Forum

Saudi Credit Bureau (SIMAH), the first licensed credit bureau in the Kingdom, hosted a Legal Entity Identifier (LEI) “Meet the Market” Forum recently, under the auspices of the vice governor of the Saudi Arabian Monetary Authority (SAMA), Saleh Al-Furaih.
LEI is a 20-digit, alpha-numeric code based on the ISO 17442 standard developed by the International Organization for Standardization (ISO). It enables clear and unique identification of legal entities participating in financial transactions.
SIMAH’s forum came as part of the Annual International Meeting of the Legal Entity Identifier Regulatory Oversight Committee (LEI ROC) and the Global Legal Entity Identifier Foundation (GLEIF). The forum was attended by officials and representatives of banking and finance sectors, LEI ROC, GLIEF and other Local Operating Units (LOUs).
GLIEF officially accredited SIMAH last September to act as a full LOU. SIMAH Business launched its non-profit Moa’rif service to identify legally independent entities and companies. Moa’rif enables companies to comply with various reporting requirements, while at the same time enhancing transparency. It helps measure and monitor systemic cross-border payment transfer risk, enables regulators globally to more accurately obtain a view on risk to the financial system, helps individual firms more effectively measure and manage counter-party exposure through a common view of legal entities across the organization, and promotes coordination. Moa’rif has so far issued 191 identifiers.
GLIEF was established by the Financial Stability Forum (FSB) in June 2014 as a not-for-profit organization to support the implementation and use of LEIs, and is overseen by ROC LEI. ROC LEI is a group of 71 public authorities and 19 observers from more than 50 countries established in January 2013 to coordinate and oversee a worldwide framework of legal entity identification, the Global LEI System.
SIMAH Business is designed to provide credit information to all companies and institutions operating on the Saudi market, representing their financial solvency. This allows members to study the credit behaviors of its commercial clients and to assess credit risk in order to make sound decisions.


Ford’s tips to stay cool and calm on a road trip

Updated 18 August 2018
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Ford’s tips to stay cool and calm on a road trip

Be it a regular two-day weekend, or an extended staycation a few hours away by car, it is hard to beat the excitement of hitting the open road on your way to invaluable family time.

Of course, any extraordinary journey often requires perfect planning and prior preparations, and at the height of summer, keeping cool under the conditions is often easier said than done. To be as comfortable and as confidently primed as possible for your short-term sojourn, Ford has listed out some tips for a ride in the summer:

Late night departure: While not always possible, postponing your departure until after the sun sets will dramatically reduce the heat inside your cabin. Ford has available lighting technology that can make night-time driving less stressful, like Dynamic LED Headlights and Auto High Beam Control, which detects oncoming vehicles and automatically switches to dipped beams until the vehicle has passed.

Visionary visor: The slide-on rod sun visor can easily keep that blindingly bright sun glare out of your eyes, keeping you invariably more comfortable.

Too cool for school: Ahead of your road trip, be sure to pick up a cool bag or a cool box to store your bottles of water, or perhaps to maintain the level of freshness of some fruit slices. The air conditioning system will keep you from overheating externally.

Life’s a breeze: Before you hit the road, ensure your AC is topped up with the necessary gas to keep the cabin nice and cool. Proper maintenance of your car’s air conditioning has several benefits: It saves money, reduces the amount of chlorofluorocarbons (CFCs) in the atmosphere, and increases the life of your vehicle’s air conditioning system.

Chilling sounds: The 12-speaker B&O Play premium audio system by Harman available in Ford vehicles has been perfected by acoustic engineers for a sound even audiophiles will appreciate. 

Stay the course: SYNC 3, Ford’s next generation of voice-activated technology, with both Apple CarPlay and Android Auto capability, has a new, easy-to-use design and features. The easy-to-read color LCD touchscreen displays phone, audio and navigation functions. 

Be prepared: It is a great idea to be prepared for any crisis by putting together an emergency kit. Things to include in the kit are jumper cables, a flashlight, stretch cords, water bag, knife, tire inflator, first-aid kit, PVC tape, plastic gloves, non-perishable food, flares, and a blanket.