Honoring Indonesia at Janadriyah ‘confirms close ties with Saudi Arabia’

The ambassador said “Saunesia” is a new term in the diplomatic world derived from the words Saudi Arabia and Indonesia. (Supplied)
Updated 23 October 2018

Honoring Indonesia at Janadriyah ‘confirms close ties with Saudi Arabia’

  • King Salman will patronize the opening ceremony of the 33rd Janadriyah festival on Dec. 31

RIYADH: Saudi Arabia and Indonesia share “very close” relations, and having been invited to be “guest of honor” country at the forthcoming 33rd Janadriyah festival only confirms the strong relations between the two countries, said Indonesian Ambassador Agus Maftuh Abegebriel.
Speaking on his country’s selection for Saudi Arabia’s national heritage and culture festival, Abegebriel, who is also his country’s permanent representative in the Organization of Islamic Cooperation, thanked King Salman and Crown Prince Mohammed bin Salman for the invitation.
The ambassador said “Saunesia” is a new term in the diplomatic world derived from the words Saudi Arabia and Indonesia.
“Today is Saunesia time, which means we are in the golden period of our bilateral relations, as reflected by the exchange of visits at the highest level,” said Abegebriel.
President Joko Widodo visited Saudi Arabia in 2015 and 2017, and King Salman visited Indonesia in March 2017, he said, adding that the two leaders have committed to enhancing bilateral relations into a more comprehensive and strategic cooperation.
“Both countries have signed a memorandum of understanding on cultural cooperation in March 2017, and Indonesia’s participation in Janadriyah is a follow-up of the MoU,” he said. “We are very delighted to have this opportunity to showcase our diverse culture and heritage in our special pavilion during the event.”
He said Indonesia will also promote its world-class tourism destinations as well as its high-quality products to the public in Saudi Arabia.
“By enhancing cultural relations, we are promoting more people-to-people contact so both sides will have a better mutual understanding," he said.
“I look forward to welcoming members of the royal family, government officials, the business community and Saudi people, as well as diplomatic corps and people from other countries at the Indonesian pavilion during the Janadriyah festival.”
King Salman will patronize the opening ceremony of the 33rd Janadriyah festival on Dec. 31. The 18-day event, named after the village on the northern outskirts of Riyadh where it is held annually to celebrate symbols of the Saudi identity, is organized by the Ministry of National Guard.
Guest of honor countries in recent years have included India at Janadriyah 32, Egypt at Janadriyah 31, Germany at Janadriyah 30 and the UAE at Janadriyah 29.


Fraud alert over cryptocurrency falsely linked to Saudi Arabia

Updated 21 August 2019

Fraud alert over cryptocurrency falsely linked to Saudi Arabia

  • The website of a cryptocurrency company is promoting what it calls the CryptoRiyal and SmartRiyal
  • The Singapore-based company uses the Saudi emblem of two crossed swords and a palm tree

JEDDAH: Fraudsters are trying to lure victims into investing in a “virtual currency” with false claims that it is linked to the Saudi riyal and will be used to finance key projects, the Saudi Ministry of Finance warned on Tuesday.

The website of a cryptocurrency company in Singapore is promoting what it calls the CryptoRiyal and SmartRiyal, using the Saudi emblem of two crossed swords and a palm tree. Its “ultimate goal” is to finance NEOM, the smart city and tourist destination being built in the north of the Kingdom, the company claims.

“Any use of the KSA name, national currency or national emblem by any entity for virtual or digital currencies marketing will be subject to legal action by the competent authorities in the Kingdom,” the ministry said on Tuesday.

The fraudsters were exploiting ignorance of how virtual currencies work, cryptocurrency expert Dr. Assad Rizq told Arab News.

“A lot of tricks can be played,” he said. “Some of these companies are not regulated, they have no assets, and even their prospectus is sometimes copied from other projects.

“They hype and pump their project so the price goes up. Inexpert investors, afraid of missing out, jump in, which spikes the price even higher. Then the owners sell up and make tons of money.

“Cryptocurrencies are a risky investment for two reasons. First, the sector is not yet fully regulated and a lot of projects use fake names and identities, such as countries’ names or flags, to manipulate investors.

“Second, you have to do your homework, learn about the technology. And if you still want to invest, consider your country’s rules and regulations.”