SABB
SABB participated in the 22nd seminar on money laundering, terrorism financing and financial crimes held by Saudi Arabian Monetary Agency (SAMA) for the judges of the Ministry of Justice and the Bureau of Grievances recently. Mohammed Al-Obaid, head of compliance at SABB, represented the bank at the 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 taken through the latest information, directives and practices in order to further develop their skills and abilities in this field on national and international levels. The presentation also detailed the procedures, controls and systems adopted by commercial banks to detect movement of money from suspicious sources and the methods adopted by money launderers to carry out such operations. Al-Obaid said: “SABB’s involvement in the seminar underlines the bank’s commitment to the community and its extensive efforts to fight financial crime, which is adversely affecting national and global economies.” SABB’s contribution included counseling the judges on the responsibilities and duties of commercial banks and staff as provided for in the Anti-Money Laundering Act, and the general revised rules formulated by SAMA in December 2008 to combat money laundering and terrorism financing.
RedTag
RedTag, a new family fashion and home store, opened its doors at the Abdul Latif Plaza, Sitteen Street, Jeddah, yesterday. This is the fifth RedTag to open its doors in the Western Province. RedTag is a new concept store by Jazirat S’maa Fashion Co. Ltd., a member of Faisal Al-Suwaiket Group of Companies. “RedTag is a value retailer with an entire range of fashion and homeware for the value conscious family,” the company said. The layout of the new 32,000 square foot store has been designed to meet the latest retailing standards and includes a coffee shop where customers can enjoy a free cup of coffee while they’re shopping. The new RedTag fashion range includes value offers for the entire family from the newborn baby range to adult men’s and ladies casual and smart wear. The homeware departments include bedroom, bathroom, dining and home decor, “all of which means that RedTag takes care of everything when it comes to your family’s fashion and homeware needs.” With the full support of the Jazirat S’maa Fashion Co. Ltd., the purchasing muscle behind it, the RedTag is able to bring its customers “unbeatable quality at very affordable prices” across their entire range. The new store opening celebrations include lots of gifts and great offers in every department. Besides, every customer who purchases during this opening period will receive an entry to a draw to win SR10, 000 worth of shopping vouchers, plus many other prizes.
Mobily
Mobily’s latest corporate product, the “Corporate Bulk DATA Sim,” aims to offer data-only services that make it easier for corporations and businesses to conduct their business and keep their staff connected through multiple channels and at competitive rates. The new SIM offers many benefits, such as SMS, MMS, 3G and Internet services, both in GPRS and EDGE modes. Mobily launched the new SIM out of its commitment to cater to the business sector with sophisticated products and services that fulfill the needs of corporations, businesses and institutions at competitive rates. The most recent promotion on Mobily’s Internet service was on the new Mobily Connect modem, type ZTE MF628, the world’s smallest HSDPA modem. Mobily was the first operator in the Middle East to offer this modem, and at the lowest price. Also, Mobily facilitated ways to serve the business sector by opening several channels to communicate, such as the e-mail [email protected], and the hotline 1101 for business clients. Suliman Al-Zahrani, deputy director corporate sales at Mobily, said: “Mobily always aims to take initiatives in offering new and sophisticated services to the business sector.”
CSR
Companies in Qatar are looking to actively enhance their Corporate Social Responsibility (CSR) strategies in the light of current global economic situation, according to the organizers of Qatar’s first major conference on the issue. While some business groups internationally are reducing their support for charitable and community activities because of economic pressures, many Qatar-based companies are moving in the opposite direction, providing higher levels of community engagement to reassure the people of Qatar and enable the nation’s ongoing growth and development. This high level of community support reflects the traditions and practices of local businesses, say the organizers. Besides hosting international speakers on CSR, the CSR Conference, to be held under the patronage of Minister of Business and Trade Sheikh Fahad bin Jassim bin Mohamed Al-Abdulrahman Al-Thani aims to provide a platform to showcase the progressive policies of many of Qatar’s leading companies to the world. The CSR approach of Qtel, which is the sponsor, has been so effective in Qatar that it is increasingly exporting this approach across its international operations in the Middle East, Africa and Asia.
AFW
Arabian Fashion World (AFW), a one-day fashion showcase, will be held on April 6, in association with the Arab British Chamber of Commerce (ABCC) and will feature five Arab designers that include Amina Al-Jassim of Saudi Arabia, Abed Mahfouz of Lebanon, Rabia Z of the UAE, Samira Haddouchi of Morocco and British-Jordanian Omar Kashoura. The Arab fashion industry is a fast emerging global business with highly talented designers such as Elie Saab taking the world stage. On April 6, the five designers will stage a fashion show produced by Lesley Goring at InerContinental’s ballroom with up to 20 Arab fashion accessory companies taking stands and displaying their creations from jewelry, handbags to cosmetics. There will be an invited audience of 400 guests that will include ambassadors, celebrities, British and Arab media, fashion buyers and VIPs. The organizers intend to make AFW a three-day annual event at InterContinental London Park Lane from 2010. AFW is in partnership with Arab British Chamber of Commerce. The role of ABCC, whose headquarters are in London, is to promote trade and business between Britain and the Arab nations. Dr. Afnan Al-Shuaiby, secretary general and chief executive of the ABCC, will open AFW.