SABB received a plaque from Dar Al-Hekma College for girls in Jeddah during the inauguration of its “Banking and Finance Section” as a token of appreciation for the bank’s role in sponsoring and supporting the first program in the Kingdom to train Saudi women in the field of financial management and banking, which falls within the framework of SABB’s community service programs. Adel Al-Nasser, SABB’s deputy managing director, said, “The bank’s initiatives in sponsoring and supporting these programs ensure its commitment toward its national and social duties.” SABB has shown keen interest in developing its community service programs by initiating new ones, in addition to the previous sponsorship by the bank. They include SABB’s Scholarship Program to obtain an MBA degree from Britain and the sponsorship of KFUPM Chair-in-Finance, as well as the continuous support to charitable societies i.e. The School Bag Program for the Riyadh Orphans Charitable Society “INSAN.”
SAGIA
Saudi Arabia General Authority (SAGIA) unveiled a world class customer management system called Asaleeb or “methods” in Arabic for the global investment community to issue its licenses online from Feb. 15. SAGIA Governor Amr Al-Dabbagh told newsmen yesterday that the new system, the first of its kind in the Middle East, will take SAGIA to the doorstep of foreign investors. The new system will enable world bankers, multinational executives, lawyers, analysts and government officials to exchange information in real time via the Internet.
NCB
The National Commercial Bank (NCB) participated in the recently held symposium in the field of letters of credit held by Arab Banking Union in Alexandria. Abdul Rahman Addas, NCB head of corporate sector, said the NCB management is keen on the participation of concerned responsible staff in the symposium that deals with various topics related with external trade. Ali Abdullah BaMinif, NCB adviser for the Commerce Service Center Department, who represented NCB at the symposium, said the symposium aims at getting updated with international policies for letters of credit and following up exerted efforts by concerned world authorities.
HUMMER
Aljomaih Automotive Company invited Hummer customers in Jeddah to ride and drive their own Hummers at the launch of the HUB (Hummer Base). The HUB is an outdoor activities-oriented club formed for and managed by Hummer owners. The HUB’s mission is to explore the outdoors in a safe and environmentally-friendly fashion and its activities will include planned outings, camping trips, desert challenges, treasure hunts, and much more.
SUNSET HILLS
As construction work on its Bahrain Lagoon venture gathers pace, UAE real estate developer Abu Dhabi Investment House has announced its next ambitious project in Bahrain — Sunset Hills at Al-Areen. Valued at more than $100 million, the mixed-use venture will be home to a mix of residential and commercial facilities — luxury villas, town houses, terraced apartments, and apartment blocks for shops and residences. Scheduled completion of the project is set for 2009.