JEDDAH, 3 June 2008 — SABB has recently participated in the 20th training course held by the Saudi Arabia Monetary Authority (SAMA) to brief the judges of the Ministry of Justice and the Court of Grievances in the Kingdom on money laundering, terrorism funding and financial crimes. SABB’s participation in this course underlines its commitment to the community and its extensive efforts to fight money-laundering crimes, which adversely affect national and global economies. Mohammed Bin Ibrahim Al-Obaid, head of Compliance Department at SABB, represented the bank in this event, where a comprehensive presentation on money laundering in the Kingdom was given to the judges to provide them with specialized knowledge on money laundering and terrorism financing activities as well as on combating financial crimes. The judges were given the latest and essential information, directives and practices to promote their skills and abilities in this field on national and international levels.
Jordan Signs Deal for $332m Rail Project
AMMAN, 3 June 2008 — The Jordanian government has signed an agreement with a coalition of Spanish and Kuwaiti firms for building a light rail system between Amman and the city of Zarqa at a cost of $332 million, an official statement said here yesterday. The deal provides for the construction of a dual-track 26-kilometer railway between Amman and the city of Zarqa on the basis of the Build, Operate and Transfer (BOT) formula for 30 years. The consortium is led by the renowned Spanish engineering and consulting group, INECO-TIFSA, informed sources said. The Spanish-Kuwaiti consortium replaces a Pakistani-Chinese coalition which signed a similar agreement with the Amman government in May last year for implementing the project but the deal was terminated by Jordan in March this year for “legal reasons.” (Abdul Jalil Mustafa)
Computex Taipei Opens Today
JEDDAH, 3 June 2008 — The annual gala of global ICT, also known as the Taipei Int’l Information Technology Show, kicks off today in the South Korean capital and runs to June 7, according to a press release issued here yesterday. Heading into its 28th year, Asia’s largest event is setting new records again with its exhibition scale expanding by 53 percent and the number of participating manufacturers increasing by 28 percent. Computex Taipei has been growing together with the IT industry in Taiwan.