Saudi team visiting Dhaka to formalize recruitment process

Updated 02 February 2015

Saudi team visiting Dhaka to formalize recruitment process

A special delegation from the Saudi Labor Ministry which was commissioned on Sunday in a royal decree issued last week will shortly leave for Dhaka to work out the details for the recruitment of Bangladesh manpower, the Bangladesh Embassy announced here on Sunday.
The royal decree announced lifting of the 2008 ban on manpower recruitment from Bangladesh. The skilled workers, both males and females, will be given visas for employment in the Kingdom and children with valid resident cards who have reached 18 years of age will be allowed to transfer their sponsorship to new sponsors under the current labor regulations.
Bangladesh Minister for Expatriates’ Welfare and Overseas Employment Khandker Mosharraf Hossain recently led a seven-member delegation to the Kingdom where he was assured by Labor Minister Adel Fakeih that the ban would be lifted soon.
Fakeih thanked the Custodian of the Two Holy Mosques King Salman for allowing the recruitment of skilled workers from labor exporting countries to meet the labor requirement. The Saudi delegation comprising senior labor officials will assist and advise the officials in Dhaka as to the type of orientation programs to be conducted for the prospective workers from that country.
Fakeih said the labor recruitment from Bangladesh has been resumed on the assurance by the Dhaka government that qualified and skilled workers will be sent for employment to the Kingdom.
Bangladesh Ambassador Mohamed Shahidul Islam in Riyadh welcomed the decision and said, “The re-launch of the recruitment of manpower from Bangladesh will ensure that the labor relations of the two countries will be further strengthened.” He said the opening of the Saudi labor market for Bangladesh was a huge success in diplomatic terms for the South Asian country.
It’s a “major milestone in the diplomatic relations between the two countries,” the envoy said.
Islam said that his government has given a deadline for its nationals to obtain their Machine Readable Passport (MRP) by 2015. Following the announcement, more than 2,000 Bangladeshis line up at their embassy daily to get their machine readable passports.
To cope with the rush, he said the mission has requested all embassy officials to help its consular department to expedite the work.
There are some 1.5 million Bangladesh expatriates in the Kingdom and they all have to get their documents processed, he noted.
He recalled that around 750,000 Bangladeshi migrant workers benefited from an amnesty for illegal workers by the Saudi authorities earlier. Of the beneficiaries, about 400,000 undocumented workers’ passports were renewed and issued while around 350,000 workers, who were at risk of becoming undocumented, were able to change their professions.
In addition to the consular services offered in Riyadh, the Bangladesh Embassy also outsourced its consular services in Jubail, Al-Ahsa, Dammam, Al-Jouf, Sakaka and Al-Qassim.
The Jeddah Consulate further offers consular services in Khamis Mushayt, Jazan, Najran, Tabuk, Yanbu, Al-Baha and Madinah.
Around 100,000 pilgrims come for Haj annually and a large number of Umrah pilgrims also come from Dhaka throughout the year.

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.”