Financial Sector Conference kicks off Wednesday in Riyadh

It follows last year’s Future Investment Initiative (FII) and the National Industrial Development and Logistics Program events, held at the same venue. (AN photo/Ziyad Alarfaj)
Updated 24 April 2019
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Financial Sector Conference kicks off Wednesday in Riyadh

  • Thousands have signed up for the two-day event including ministers and top policy makers

Thousands of delegates are expected to attend a two-day finance event in Riyadh, which starts on Wednesday under the patronage of King Salman.

The Financial Sector Conference is being held by the Ministry of Finance and Saudi Arabian Monetary Authority (SAMA).

Organizers of the event at the Ritz-Carlton conference hall in Riyadh said informally that some 3,400 attendees had signed up for the two-day showcase of the Kingdom’s financial industry, and that more were registering at an impressive rate.

Delegates include ministers from the finance, economy and strategic ministries, as well as top policymakers from capital markets, investment and insurance industries.

It follows last year’s Future Investment Initiative (FII) and the National Industrial Development and Logistics Program events, held at the same venue.

The event will involve the presence of the Saudi Real Estate Refinance Company (SRC), which is seen as a key to providing more affordable housing in the Kingdom and boosting home  ownership by citizens.

SRC, a subsidiary of Saudi Arabia’s sovereign Public Investment Fund, aims to issue up to SR4 billion ($1.07 billion) of long-term sukuk — or Islamic bonds — this year, its chief executive said on Tuesday.

“Our strategy is clearly to tap the market twice this year,” Fabrice Susini said. “We are really looking at probably issuing something between ... 2 and 4 billion riyals that we may be issuing in two tranches.”

 


Pilgrims' city in Al-Jouf's Abu Ajram receives pilgrims from Iraq

Updated 19 July 2019
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Pilgrims' city in Al-Jouf's Abu Ajram receives pilgrims from Iraq

JEDDAH: The pilgrims’ city in Abu Ajram, Al-Jouf governorate continues to receive Hajj pilgrims arriving from neighbouring countries via border crossings.
The pilgrims’ city receives on average about 2,000 pilgrims who cross into the Kingdom from Iraq via the Arar border crossing that will officially open in October, Saudi Press Agency reported.
The pilgrims are provided with all the services that they need in the city.
The city received 1974 pilgrims on Friday and they were received by scouts from Al-Jouf who helped to transport the elderly and the sick