Arab customs union by 2015 commended

Arab customs union by 2015 commended
Updated 29 January 2013

Arab customs union by 2015 commended

Arab customs union by 2015 commended

Saleh Al Khaliwi, director general of the Saudi Arabian Department of Customs (SADC), expressed his confidence in the outputs of the third Arab Economic and Social Development Summit, especially the recommendations issued regarding the establishment of an Arab Customs Union by 2015.
In an open talk with a local newspaper, Al Khaliwi explained the intricate nature of the Riyadh summit, including the challenges of forming a unified customs union. He reassured that the Arab leaders were keen on successfully implementing the Arab Customs Union on its planned date, pointing out that a special committee will regularly follow up.
On the other hand, Al Khaliwi denied the entry of contaminated Chinese chairs into the Kingdom, indicating that the Saudi Customs did not record the entry of any radioactive goods. “There are modern devices available at all key customs ports that detect radioactive materials,” Al Khaliwi reassured.
Regarding the entry of counterfeit goods, he explained that the Saudi Customs is cooperating with consulting firms and specialized laboratories to detect fake products imported into the Kingdom. He also confirmed that the Batha border between the UAE and Saudi Arabia is not suffering from a congestion of trucks, because the Saudi Customs took the necessary measures and established a new customs yard. Despite the notable increase in customs’ activity in the Batha border, as the number of import containers reached 4,000 trucks, work is running smoothly. According to Al Khaliwi this a testament to the great efforts and modern procedures be used to enable the borders to withstand such an enormous capacity of trucks on a daily basis.
The Saudi Customs have created a solid infrastructure and established an orderly system, which includes a specialized courtyard for the imported shipments coming into the Kingdom and a separate courtyard for transit shipments.
Regarding the most important achievements of the SADC last year, Al Khaliwi said they have reached a record revenue, exceeding SR 22 billion in 2012, in addition to the great achievements in combating counterfeit goods and seizing illegal goods.
With regards to the third Arab customs forum, which will be launched in Mar. 3, Al Khaliwi said that preparations are underway, highlighting that the second forum was a success on the local and regional levels.
Meanwhile, the Saudi Customs celebrated International Customs Day (ICD) at its headquarters in the capital, under the slogan “Innovation for Customs Progress”, which the World Customs Organization (WCO) coined to encourage novelty in the field.
Commenting on the ICD celebration, Al Khaliwi said that slogan chosen for this year resonates deeply with the Saudi Customs, because it encourages customs officers to develop a sense of innovation.
“The WCO slogan invites us as management to work on innovation and sends the right message to customs officers to participate in this integral process as well,” he added.
During the ICD celebration, the winners of the Certificate of Merit in the public and private sectors were announced, which is issued jointly by the WCO and the Saudi Customs. In addition, selected Saudi Customs employees were honored for excellence.

Yazeed Al-Humied, head of Local Holdings Investments at the Saudi Public Investment Fund

Yazeed Al-Humied
Yazeed Al-Humied
Updated 15 January 2021

Yazeed Al-Humied, head of Local Holdings Investments at the Saudi Public Investment Fund

Yazeed Al-Humied

Yazeed Al-Humied is the newly appointed head of Local Holdings Investments at the Saudi Public Investment Fund (PIF).

From October 2016 until December 2020, he was the PIF’s chief of staff, managing the fund’s relationships and creating strategic partnerships locally and internationally.

He also managed internal institutional and investment projects to ensure they were completed on time and met quality standards and developed a governance model for PIF portfolio companies while monitoring their performance.

On top of his new role, Al-Humied will contribute to the PIF as a member of various permanent committees including those responsible for management, and portfolio company nomination.

In addition, he sits as chairman of the National Security Services Co., vice chairman of both the Samba Financial Group and the Saudi Stock Exchange (Tadawul), and is a board member of Saudia airline, the Saudi Civil Aviation Holding Co., and Saudi low-cost carrier flyadeal.

Al-Humied joined PIF as an adviser to the fund’s governor in 2015. In his one-year advisory role, he was responsible for the restructuring, strategy crafting, and posting of PIF’s reallocation to the Saudi Council of Economic and Development Affairs.

He started his career in 2004 with multinational professional services company PricewaterhouseCoopers and four years later joined the Capital Market Authority (CMA) where he headed mergers and acquisitions.

Al-Humied gained a bachelor’s degree in accounting from Riyadh’s King Saud University in 2004 and he is also an alumnus of the London Business School’s corporate finance modular program.