Bank Aljazira launches Noor Innovation Program

The program, aligned with Saudi Vision 2030, was launched on Wednesday at the Jeddah Hilton hotel.
Updated 10 December 2018
0

Bank Aljazira launches Noor Innovation Program

Bank Aljazira has launched the “Bank Aljazira Noor Innovation Program” under the umbrella of the Fintech Saudi initiative.

The program, aligned with Saudi Vision 2030, was launched on Wednesday at the Jeddah Hilton hotel. 

It aims to foster the financial technology system in the Kingdom in order to make the country a leading center of financial technology that embraces a thriving and liable system and covers banks, investors, companies, universities and state institutions, thereby contributing to the fostering of financial inclusiveness and increase of digital financial business.

The launch ceremony was attended by executives from Bank Aljazira and Fintech Saudi, public and private sector officials and experts and specialists in the financial technology field.

“The launch of this financial technology challenge by Bank Aljazira aims to foster the bank’s position as a leader in digital banking services field in the Kingdom. 

“It also reflects the bank’s responsibility to the community,,” a press release said.


King Abdullah Port throughput up by 36%

The number of vessels received by the port increased to 911 vessels, a 12 percent increase compared to 820 vessels in 2017.
Updated 21 January 2019
0

King Abdullah Port throughput up by 36%

The annual throughput of King Abdullah Port increased to 2,301,595 TEUs by the end of 2018, an increase of more than 36 percent compared to 2017. This maintains its position as the second largest port in the Kingdom in terms of container handling. 

Since its inception in the last quarter of 2013 the number of containers handled by the port has reached 7,227,859 TEUs. The port’s management stated that the annual increase in throughput was primarily achieved in conjunction with an 8 percent increase in imports and exports compared to 2017.

King Abdullah Port CEO Rayan Qutub said: “King Abdullah Port constitutes a real success story in public-private sector partnerships in light of the increasingly outstanding figures it achieves year after year. The port has become the leading driver in the maritime shipping and logistics services sector in terms of building knowledge, launching initiatives and supporting various activities in this sector.”

He added: “King Abdullah Port aspires to support the Kingdom’s economic development and enhance its competitiveness by increasing the efficiency of logistics services and supporting trade movement between the Kingdom and the rest of the world in line with Vision 2030. The latter would occur through the provision of state-of-the-art infrastructure and advanced logistics services to become a landmark on the maritime and logistics services map in the Kingdom and the region.”

Referring back to the 2018 results, Qutub said: “We achieved a record 50 percent increase in container handling in the first half of 2018, and we are moving forward with our development plans to provide best practices in the fields of port development and operation as well as supporting logistical services. This will increase the Kingdom’s competitive advantage on the logistics services index, and in turn effectively contribute to achieving the logistical objectives of the Kingdom’s Vision 2030.” 

The results achieved by King Abdullah Port in 2018 include an increase in transshipment volume reaching 1,847,569 TEUs, which is a 44 percent increase compared to 2017. Meanwhile, the number of vessels received by the port increased to 911 vessels, a 12 percent increase compared to 820 vessels in 2017. 

The port features state-of-the-art facilities including 18-meter water berths, which are the deepest in the world, and the world’s largest and most advanced cranes, which employ the latest technology and feature a 65-ton lifting capacity as well as a handling capacity of 25 containers. Such facilities enable the port to serve giant container vessels now and in the future.