STC hailed as success story in privatization in KSA

High-level government officials visited the STC section of the conference and were briefed on the digital services.
Updated 30 April 2019

STC hailed as success story in privatization in KSA

The Saudi Telecom Company (STC) contributed a total of SR168 billion ($44.80 billion) to the Kingdom’s GDP from 2000 to the end of 2018, according to STC’s 2018 annual report. The amount comprises government fees paid to the state in addition to the state’s share of annual profits.

The annual report, which was launched last week at the Financial Sector Conference in Riyadh, revealed that STC has maintained its pivotal role in achieving the objectives of Saudi Vision 2030 and National Transformation Program 2020 by enabling digital transformation in the public and private sectors and investing in digitizing the economy in line with its ambitious strategy DARE, which completed its first year — 2018 — with remarkable success.

Speakers at the two-day finance event singled out STC, now in its 20th year, as an inspiring success story of privatizing government institutions in Saudi Arabia. The Saudi Telecom Company was the Ministry of Post, Phone, and Telegraph until 1998, before rebranding to STC in 2008.

Minister of Finance Mohammed Al-Jadaan, Minister of Housing Majid Al-Hogail and SAMA Chairman Dr. Ahmed Abdulkarim Alkholifey visited the STC section of the conference and were briefed on the digital solutions and services offered by the company, in particular through digital platforms such as STC Pay. Khalid bin Abdulaziz Al-Falih, who headed the supervisory committee, awarded STC with a shield for its support of the conference. The award was accepted by Mohammad bin Rashid Aba Al-Khail, director general of corporate communication.

Bupa Arabia supports the underprivileged & orphans

Updated 24 min 16 sec ago

Bupa Arabia supports the underprivileged & orphans

Bupa Arabia for Cooperative Insurance has partnered with the Ministry of Human Resources and Social Development to distribute 3,000 food baskets among underprivileged families, which are registered with the ministry’s Social Welfare and Family Welfare Agency. The initiative comes in line with the spirit of Ramadan, a month of giving, and in response to the COVID-19 outbreak.

This year, orphans who are covered under Bupa Arabia’s free health insurance program will help in preparing and distributing the baskets to inculcate a sense of giving among them.

Dr. Abdullah Al-Wahaibi, undersecretary at the Social Welfare and Family Welfare Agency, hailed Bupa Arabia’s move to involve orphans in preparing and distributing baskets under the supervision of the agency, saying: “This is a caring gesture from Bupa Arabia, and it promotes a sense of belonging among orphans while cultivating the principles of giving, communication and closeness between them and society.”

He added that the initiative supports what the company has been offering orphans for years. More than 2,600 orphans, living in more than 47 homes across the Kingdom, benefit from Bupa Arabia’s free health insurance program. The program includes divorced orphans and widows who live with their children in social care homes.

Loay Hisham Nazer, chairman of Bupa Arabia, said: “The orphans will be joining hands to assemble and distribute baskets to the families in an attempt to get a sense of the pride of giving during the holy month. We’ve also extended this to our employees, who collectively prepared 411 food baskets. We hope that we make a real and positive impact through this initiative.”

Bupa Arabia was the first company to offer free health insurance for residents of “Dar Al-Rafeef” in 2011. Three years later, in 2014, the program expanded to cover all orphans residing in shelters supervised by the Ministry of Human Resources and Social Development.

“We believe that in order to play a proactive role in society, we need to provide more than just health insurance; we should aim to become the health care partner for every orphan in Saudi Arabia. Therefore, we would like them to know that we are always by their side,” Nazer said, adding that the orphans receive special treatment and the same services that are given to some VIP clients.

The free health insurance program offers a range of quality services, including a designated hotline to receive calls and provide immediate assistance. Bupa Arabia also developed an integrated program that enables doctors to visit beneficiaries periodically for checkups, and regularly organizes health education workshops to raise awareness. The program is approved by the Cooperative Health Insurance Council and covers all treatments, including plastic surgery, dermatology, and even cases that are not covered by regular health insurance.