ICD, BBI launch global private sector platform

The agreement was signed by Ayman Sejiny, CEO of ICD, and Amer Bukvic, CEO of BBI, on Wednesday at the ICD’s headquarters in Jeddah.
Updated 23 May 2019
0

ICD, BBI launch global private sector platform

The Islamic Corporation for the Development of the Private Sector (ICD) and Bosna Bank International (BBI) signed a memorandum of understanding on May 16 in Jeddah. The MoU is related to a new initiative — the Global Platform for Private Sector — where the two institutions and community of like-minded financial entities can collaborate on business opportunities, exchanging market intelligence and laying a foundation for actual financial transactions within the member countries and across borders.
The signing ceremony took place in ICD’s headquarters in Jeddah and the document was signed by Ayman Sejiny, CEO of ICD, and Amer Bukvic, CEO of BBI.
Sejiny said: “ICD takes the lead in launching such a platform network to demonstrate productive applications of fintech in modern global business affairs, to help reduce financial transaction costs for its member banks, leasing companies and micro-finance institutions and to upgrade the advisory services that ICD offers to its partners across the Islamic developmental network.”
Bukvic added: “We welcome the initiative and we’re happy to be among the first entities to sign the MoU with ICD. Such a platform would open opportunities for Bosnia and Herzegovina, BBI bank and other partners once implemented, and will most certainly facilitate investment across borders. This will extend our efforts already expressed by organizing international events in the capital of Bosnia and Herzegovina, such as the Sarajevo Business Forum and the Sarajevo Halal Fair.”

 

Bosna Bank International (BBI) d.d. Sarajevo is the first bank, both in Bosnia-Herzegovina and Southeast Europe, to operate in accordance with Islamic finance principles. BBI offers several types of financial services to retail and corporate clients through its business based on ethical principles and partnership. Shariah compliance is ensured by the BBI Shariah board with members of this board being prestigious local and international experts.
The Global Platform for Private Sector will be a cloud-based, next-generation, full-featured networking and fulfillment platform hosted by ICD for the benefit of its network of 88 financial institutions and 12 leasing companies worldwide. One major goal of this online platform is the sharing of investment, advisory, sukuk, financing and other deals in an environment of common Islamic values.
ICD is a multilateral development financial institution and is part of the Islamic Development Bank (IsDB) Group. It was established in November 1999 to support the economic development of its member countries through the provision of finance for private sector projects, promoting competition and entrepreneurship, providing advisory services to the governments and private companies and encouraging cross-border investments.
ICD has an authorized capital of $4 billion. Currently, the shareholders of ICD are the IsDB, 54 Islamic countries and five public financial institutions.

Decoder

The Global Platform for Private Sector explained

A cloud-based, next-generation, full-featured networking and fulfillment platform hosted by ICD for the benefit of its network of 88 financial institutions and 12 leasing companies worldwide.


Deal to create largest Arab digital marketing network

Updated 17 June 2019
0

Deal to create largest Arab digital marketing network

ArabClicks, a performance-based e-marketing platform, has signed a joint strategic cooperation agreement with Basma Media, developer of omnesmedia.com. The two parties aim to build effective relationships and foster business connections between publishers and social media influencers on the one hand, and various e-commerce platforms operating in the Arab world on the other, thus laying the foundation stone for the largest digital marketing network in the Arab region.

The agreement was signed by ArabClicks Co-founder and CEO Mauro Romano, and Nasser Al-Sarami, CEO of Basma Media, at the latter’s headquarters in Dubai Media City.

According to the agreement, Basma Media will work with various publishers, media professionals and social media influencers in the Arab world to familiarize them with the mechanism employed by ArabClicks and then connect them to the platform. The intent is to benefit from the media content provided by these publishers to promote commodities and products marketed across Arab e-commerce platforms such as Noon, Namshi, Sivvi, Java, eBay and Tajawal, and benefit from sales commissions.

Romano said: “We are delighted to partner with Basma Media to reach out to the largest segment of media professionals and influencers in the Arab world. Through the partnership, we seek to capitalize on the exponential growth of e-commerce which has become a key business sector in the Middle East, where ArabClicks is supporting and assisting various businesses in enhancing their market share of the steadily growing electronic sales in the region.”

Al-Sarami said: “Over the past two years, we have been working at Basma Media to strengthen the omnesmedia.com platform with as many databases as possible for the benefit of media organizations and influencers. Today, the platform incorporates a database of more than 10,000 influencers and around 35,000 geographically diversified influential media people, in addition to 3,000 freelance gifted innovators working in various media production fields as well as 23,000 titles for various media products representing seven different types of mass media covering 35 countries all over the world, a record which makes us one of the key and largest media references on the Arab and international levels. And that’s the reason it would be easy for ArabClicks to deliver its message through omnesmedia.com in a successful way to the benefit of all parties concerned, including influencers and publishers as well as brands, rights holders and e-commerce platforms.”

Romano added: “With its innovative marketing tools based on transforming web content into a potential source of revenue, ArabClicks provides assistance to e-commerce companies to enhance their reach to various segments of society and to grow in the Middle East market, therefore, helping publishers do business and make easy money through web links, seamlessly and without introducing any changes to the published content or disturbing site users in any way.”