Red Sea Mall supports productive families

Abdullah Al-Tawi, head of Labor Ministry in Makkah region, left, shakes hands with Mohammed Alasiri, marketing manager at the Red Sea Mall. (Photo/Supplied)
Updated 10 September 2018
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Red Sea Mall supports productive families

Under the supervision of the Ministry of Labor in the Makkah region, Red Sea Mall recently handed over the keys to the kiosks that were set up as outlets inside the mall, to productive families. So far, the center’s retail outlets have been used by eight productive families within a month. 

The initiative, spearheaded by Red Sea Mall in collaboration with the Jeddah Chamber of Commerce and Industry (JCCI), was launched under the slogan “Sinaati Biyadai” in February 2016 to emphasize the importance of handmade labor and promote its development. Over 200 families have benefited from the initiative over the past two years.

The Ministry of Labor and Social Development in Jeddah has been awarding many families enrolled in social security the opportunity to sell their handmade products at Red Sea Mall. The scheduled working days are three to four days for every two families per week, during which the products will be showcased.

Aidrous Al-Bar, executive member of Red Sea Markets Limited Company, owning company of Red Sea Mall, said: “The success of the initiative over the past two years has played a significant role in attracting more families over the years. This year we have collaborated with the Ministry of Labor and Social Development, which is overseeing the process of communicating with families registered for social security. We are very pleased with this pioneering step, especially because the project will hugely benefit those who are in need of such opportunities, specifically the families enrolled in social security.”

He added: “Red Sea Mall welcomes the productive families who are directed to us by the Ministry of Labor and Social Development, and we are helping them overcome obstacles so that the process of benefiting from the initiative will proceed as planned. 

“Our pioneering experience, together with cooperation with the Ministry of Labor and Social Development, and the Jeddah Chamber of Commerce and Industry, is aimed at guaranteeing the entry of productive families into the labor market among the small and medium enterprises. The initiative has played a major role in the entry of many families into the labor market during 2016-2017. We are very optimistic about it and will continue to work and contribute toward the achievement of the National Transformation Program 2020, and we will spare no effort to do so.”

This initiative is also one of the activities supporting the retail sector, which has entered a new stage since the launch of Saudi Vision 2030, providing investment opportunities in many sectors, especially those specializing in entertainment.


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.