Greenstone gets license to promote financial products

Greenstone gets license to promote financial products
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Alex Gemici, chairman of Greenstone Equity Partners.
Greenstone gets license to promote financial products
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Omar Al-Gharabally, president and partner of Greenstone Equity Partners.
Updated 16 June 2019

Greenstone gets license to promote financial products

Greenstone gets license to promote financial products

Greenstone Equity Partners, the largest fund placement firm in the Middle East, has become the first firm of its kind to obtain a license to promote financial products and foreign securities by the UAE’s Securities and Commodities Authority (SCA).
The SCA has granted Greenstone’s UAE subsidiary, Greenstone Equity Partners Financial Products Promotion L.L.C., a license to perform the activities of financial product and foreign securities promotion.
Under the new license, Greenstone will be able to carry out fund placement activities for its clients by registering funds with the SCA and providing international and local investment options for institutional and noninstitutional investors in the UAE.
“Securing this prestigious license marks a significant landmark in the growth story of Greenstone, cementing us as the leading placement firm for capital raising in the Middle East,” said Alex Gemici, chairman of Greenstone Equity Partners.
Omar Al-Gharabally, president and partner of Greenstone Equity Partners, said: “This license is an important cornerstone of Greenstone’s vision to be ‘within 30 minutes driving distance of every investor we cover,’ which we feel is the only effective way to establish the most productive relationships with our investors.”


‘KAUST Challenge’ seeks tech ideas for Hajj & Umrah

Updated 03 December 2020

‘KAUST Challenge’ seeks tech ideas for Hajj & Umrah

‘KAUST Challenge’ seeks tech ideas for Hajj & Umrah

King Abdullah University of Science and Technology (KAUST) has launched a new campaign to catalyze research, innovation, economic development and social prosperity in Saudi Arabia through new crowdsourcing initiatives that challenge local and international talents to identify ideas and solutions that advance the Kingdom’s national priorities and support Vision 2030. With the “KAUST Challenge,” the university is seeking to develop and support bold science, technology, and engineering initiatives that aim to transform the lives of Saudis and develop Saudi talents.

“We wish to draw on the participative power of crowdsourcing to solve problems faced in the Kingdom and the world with the KAUST Challenge,” said Najah Ashry, vice president for strategic national advancement at KAUST. “The speed, flexibility and scalability of crowdsourcing will bring us new science-based ideas and solutions that can be further developed through deep collaboration with players in the Kingdom’s research-development-innovation ecosystem.”

The focus of the inaugural 2020 edition of the KAUST Challenge is on improving the Hajj and Umrah experience for pilgrims from all over the world and on advancing efforts to make Makkah a smart city. The KAUST Challenge will play an active role in advancing one of the Kingdom’s national priorities of better serving the increasing number of Hajj and Umrah pilgrims and improving their experiences in the two holy cities. It will identify and support science- and technology-based ideas and solutions that can move quickly into the market for SR1 million ($266,000) in cash and other prizes. The challenge spans three themes: Healthcare, to increase preventative measures to ensure health and well-being for all pilgrims, a concern augmented by the ongoing COVID-19 pandemic; mobility to ensure adequate availability and access to public and private transportation; and crowd management, to enhance infrastructure to meet capacity requirements for large crowds.

To gather valuable inputs from this challenge, KAUST is targeting a wide group of national and international participants to submit their ideas and solutions, including startups (growth stage startups or scaleups with solutions proven by the market), innovators (seed startups and IP-holders with ideas or solutions yet to be fully market tasted), and general public (students, academics, entrepreneurs and individuals in society).

“Advances in high technology can assist in solving the challenges that Hajj and Umrah pilgrims face. We know that people here in Saudi Arabia and across the world have great solutions to contribute,” said Ashry. “We are excited to receive their submissions and to offer our neighbors in Makkah creative and unique ideas that we hope will serve all pilgrims.

Submission to the KAUST Challenge is now open and will run until Jan. 5, 2021 with a virtual final event that will take place on an immersive platform at the end of February 2021, where the three best ideas, one for each theme, will be selected by a panel of qualified judges and one grand prize will be awarded.