Alinma Bank hosts Shariah standards hearing session

Updated 27 October 2014

Alinma Bank hosts Shariah standards hearing session

Under the sponsorship of Alinma Bank, the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) held its Shariah standards hearing session in Riyadh. Participating in the event were Shariah-finance professionals from Alinma Bank, AAOIFI and other financial and research institutions from Saudi Arabia and abroad. Attendees discussed, debated and made comments on draft policies related to deposit and repurchase agreements.
Alinma Bank organized the event as part of its ongoing effort to support research and specialized study in the field of Islamic banking. The meeting was the first time AAOIFI held for its Shariah standards hearing session outside Bahrain, and the move to Saudi Arabia represented an attempt on AAOIFI’s part to expand its activities, effectiveness, and cooperation at the regional and international levels.
AAOIFI strives to develop the Islamic finance industry and to establish standards that will benefit and protect consumers through the faithful application of Shariah-compliance across all aspects of financial transactions.


Future Hospitality Summit eyes tourism recovery

Updated 28 September 2020

Future Hospitality Summit eyes tourism recovery

Future Hospitality Summit, a hybrid virtual conference to explore big ideas and tackle the challenges facing the hospitality industry, is set to take place live from Riyadh and around the world, on Oct. 26 and 27. It is organized by the Saudi Ministry of Tourism and the G20 Saudi Secretariat, as part of the International Conferences’ Programme, honoring the G20 Saudi presidency year 2020.

The event, which promises to be one of the most impactful gatherings of the world’s hospitality community, will be delivered on Bench Digital’s tried-and-tested digital event platform, providing an immersive live experience, including a virtual exhibition, one-to-one video networking, and integrated chat features for all participants.

A comprehensive three-pillar program has been developed in collaboration with industry creators, innovators and mentors, with particular focus on understanding the new landscape, collaborating and assessing opportunities, and innovating to recreate the industry’s future. Arne Sorenson, president and CEO, Marriott International; Arnold Donald, CEO, Carnival Corporation; Gloria Guevara, CEO and president, WTTC; Jerry Inzerillo, CEO, Diriyah Gate Development Authority; and Anita Mendiratta, special advisory to the secretary general, UNWTO; are lined up as featured speakers, along with over 100 other speakers and thousands of attendees.

“As a country that is at the forefront of the tourism sector’s response and recovery plans through the G20 presidency, Saudi Arabia is leading the conversation on the future of tourism and will provide an international platform to bring the industry together at the Future Hospitality Summit. Together, we will map out the rebuilding of the tourism and travel sector and strategically plan a sustainable future for stakeholders at every level,” said Mahmoud Abdulhadi, deputy minister for investment at the Saudi Ministry of Tourism.

Jonathan Worsley, chairman and founder of Bench Digital, added: “During this difficult time, it is vital that hospitality professionals across the globe come together as a community to work toward the recovery of our industry. Future Hospitality Summit will not only provide a powerful platform to network virtually, showcase best practice and demonstrate thought leadership, but it will also prove invaluable in ensuring that the industry emerges stronger as a whole from these unprecedented challenges.”

Empowering tomorrow’s workforce and attracting talent into the hospitality sector — imperative factors in sustaining the industry — will be two of the key focus points of the hybrid summit. Developing a skilled workforce is paramount in order to quickly evolve and keep pace with the demand being created from the hospitality sector. In Saudi Arabia, for example, 253 new hotels are coming online by 2030. Consequently, Future Hospitality Summit is a forum to engage with the hospitality workforce of the future and promote the sector as an attractive career path.