Mentorship sessions for MITEF Saudi Startup competition conclude in Dammam

The mentorship sessions of the third MITEF Saudi Startup competition are being held in Jeddah, Riyadh and Dammam.
Updated 19 February 2018
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Mentorship sessions for MITEF Saudi Startup competition conclude in Dammam

The mentorship sessions of the third MITEF Saudi Startup competition conclude today in Dammam at the Aramco Center for Entrepreneurship.
In partnership with Olou, the permanent partner for guidance and consulting, the mentorship program focuses on a range of topics pertinent to any individual or company seeking to begin a business.
Each team has been provided with mentors and guides specializing in all aspects of entrepreneurship who cover topics including the art of brainstorming, how to design business models, customer discovery, and marketing and financing. Entrepreneurs also study unique business models and inspiring entrepreneurship stories.
The first session was in Riyadh and hosted by Dulani Business Center, one of the key Social Development Bank programs, supporting and advising the 45 teams who have qualified for the first stage of the competition. Following the Riyadh leg of the orientation, the program moved on to the Abdul Latif Jameel Center for Continuous Learning in Jeddah.
The 45 teams qualifying in three categories — Ideas, Startups, and Social Enterprise — will face the second round of judging later this month when the 27 finalists will be announced. The winners will be announced on March 3 in Riyadh at a function in honor of Majid bin Abdullah Al-Qassabi, minister of commerce and investment.


Emirates NBD opens branch in Alkhobar

Updated 20 September 2018
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Emirates NBD opens branch in Alkhobar

Emirates NBD, a banking group in the Middle East, has expanded its presence in the Kingdom with the opening of its first branch in Alkhobar in the Eastern Province. Emirates NBD now covers three key regions in Saudi Arabia with a presence in Riyadh, Jeddah and Alkhobar. 

As Saudi Arabia progresses plans for economic reform, in line with its Vision 2030, Emirates NBD’s presence builds on the growing economic and trade ties between Saudi Arabia and the UAE. Following the establishment of the Saudi-Emirati Coordination Council, the UAE and Saudi Arabia recently announced The Strategy of Resolve, a joint vision for economic development through 44 joint strategic projects within a five-year time frame. 

UAE-based Emirates NBD is the first non-Saudi bank with a significant branch network across the Kingdom. The bank offers retail, private, business and wholesale banking across its network of three full-fledged branches in the Kingdom, in addition to corporate finance advisory, project and syndicated finance through Emirates NBD Capital KSA, the bank’s investment banking arm.

Emirates NBD also operates in Egypt, India, Singapore, and the UK with representative offices in China and Indonesia. 

“Our presence in Saudi is integral to Emirates NBD’s growth strategy as we continue to explore opportunities in the GCC region’s largest and most dynamic economy,” said Hesham Abdulla Al-Qassim, vice chairman and managing director of Emirates NBD. 

“Saudi Arabia is in the midst of a landmark economic transformation and we look forward to continuing to support Saudi individuals and businesses looking for a trusted banking partner.” 

Emirates NBD recently renewed its partnership with the Kingdom’s Kafalah Program, which aims to promote financing to small and medium enterprises (SMEs) within the country.

Loai Abduljawad, CEO of Emirates NBD KSA, said: “Emirates NBD’s expanded network strengthens our offering to individuals and corporates in Saudi Arabia looking to invest and trade across the MENA region and beyond. Our superior value proposition, built on the bank’s unique ‘high tech + high touch’ philosophy of offering customers a modern banking experience complemented by personalized advisory services, will enable us to strengthen customer acquisition in the Kingdom as we continue to support the country’s long-term growth and development goals, as outlined in Saudi Vision 2030.” 

Emirates NBD is a leading banking group in the region. As of June 30, 2018, its total assets were 477.5 billion dirhams, ($130 billion). The group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 percent of all financial transactions and requests conducted outside of its branches. The bank was declared the “Most Innovative Financial Services Organization of the Year” at the 2017 BAI Global Innovation Awards.