Alinma Enayah Endowment Fund launched in Riyadh

The launch ceremony was attended by Riyadh Gov. Prince Faisal bin Bandar and Abdulmohsen Al-Fares, CEO of Al-Alinma Bank.
Updated 26 May 2019
0

Alinma Enayah Endowment Fund launched in Riyadh

Riyadh Gov. Prince Faisal bin Bandar launched the Alinma Enayah Endowment Fund at the Charitable Health Society For Patient Care (Enayah) headquarters in Riyadh.
The fund is a public open-end endowment fund, endowed for the benefit of charitable health society Enayah.
Abdulmohsen Al-Fares, CEO of Al-Alinma Bank, said: “We enjoy royal encouragement for all our initiatives that aim at developing investment tools and enhancing the role of civil society organizations in serving the community. The patronage of his highness the governor of Riyadh is a form of continuous support for one of our pilot projects serving the community in the Kingdom.”
Al-Fares thanked Enayah’s chairman, members of the board of directors and the organization’s staff comprising volunteer doctors for their outstanding efforts in the treatment of patients and the needy.
“The fund aims to enhance the developmental role of private endowments by participating in supporting health care, and increasing and investing the fund assets in order to achieve social solidarity and benefit both the endowment disbursement channels and the endowed asset,” said Mazen Fawaz Baghdadi, acting CEO of Alinma Investment Company. The fund manager will work to invest the fund assets, which include cash, real estates, securities, and more, with a view to achieve capital return and distribute a specified return rate annually and continuously on the fund specified disbursement channels of health and medical services through Enayah, where the charity is committed to spend the fund returns on a number of health and medical fields.
Alinma Investment Company is the investment arm of Alinma Bank, a company licensed by the Capital Market Authority. (No. 37-09134) offering a range of investment products and services.


SABB becomes ICAEW authorized training employer

Updated 14 min 41 sec ago
0

SABB becomes ICAEW authorized training employer

The Saudi British Bank (SABB) has joined forces with Institute of Chartered Accountants in England & Wales (ICAEW) to become the first bank in the Kingdom to be an ICAEW authorized training employer. The partnership will help SABB attract and retain talented individuals by offering ICAEW’s ACA qualification.

The new partnership is part of the SABB’s strategy to become a best-in-class international finance organization, but most importantly by supporting the Saudi Vision 2030. By providing Saudi nationals access to internationally recognized qualifications and training, supporting development of their skills and abilities, SABB aims to help them achieve a better future that matches their qualifications and ambitions.

Matthew Pearce, chief financial officer at SABB, said: “By partnering with a world-leading accountancy and finance organization that maintains the highest professional standards, SABB is very proud to become the first bank in the Kingdom to be an authorized training employer with ICAEW. This partnership aligns with SABB’s vision and strategy to be internationally connected while developing Saudi nationals and supporting Vision 2030.”

Completing the ACA qualification enables professionals to use the title “ICAEW Chartered Accountant.” 

Michael Armstrong FCA, ICAEW regional director, Middle East, Africa and South Asia, said: “ICAEW works with employers to support the professional development of their teams. In Saudi Arabia, ICAEW works alongside the national profession to complement the important national accountancy qualification and equip finance talent with the broad range of technical knowledge and professional skills they need to make a great contribution to their organizations. 

“As an authorized training employer, SABB will be able to prepare employees for the internationally recognized ACA qualification. Throughout the world, our training partners benefit from being able to attract the best talent and develop the next generation of business leaders. Our partnership with SABB underscores its commitment to remain at the forefront of the fast-paced banking industry and contribute to the growth of Saudi Arabia’s financial services industry.”