ICD to develop Islamic finance in Uzbekistan

The agreement was signed during ICD’s official visit to Uzbekistan.
Updated 17 June 2019

ICD to develop Islamic finance in Uzbekistan

The Islamic Corporation for the Development of the Private Sector (ICD) signed an agreement to assist Kapitalbank, a private commercial bank in Uzbekistan, with technical advisory services for the establishment of a new Islamic banking window.
The agreement was signed during ICD’s official visit to Uzbekistan as part of its mandate to explore development opportunities in the member countries and strengthen ICD’s advisory footprint in central Asia, especially in Uzbekistan.
ICD will assist Kapitalbank in areas of Shariah, accounting, information technology, marketing and communication, HR and legal aspects combined with an on-site extensive theoretical training and supported by on-job training in Islamic banks.
Ayman Sejiny, CEO of ICD, said: “We are happy to sign the agreement to support Kapitalbank and share our expertise through the Islamic Financial Institution Program, developed for and with our partners to advise and assist in developing and reinforcing the Islamic finance industry in the member countries.”
Oleg Kim, acting chairman of the management board, representing Kapitalbank, said: “We believe that the launching of the Islamic window in the bank will allow mobilizing funds of the population who, because of their religious beliefs, did not use traditional banking services. In addition, legal entities will receive access to Shariah-compliant funding. So through Islamic banking, financial inclusion can be promoted and bring a larger pool of savings in the local and global economy.”


Yesser spurs excellence in digital governance

Updated 13 August 2020

Yesser spurs excellence in digital governance

With the bold Vision 2030 reform blueprint galvanizing all aspects of its digital journey, Saudi Arabia has seen radical changes in the way government entities operate and services are delivered to people over the past few years. Since its establishment in 2005, Saudi Arabia’s electronic government program, Yesser, has been at the forefront of developing robust information and communications technology infrastructure and integrating digital technologies into all areas of administration.

Yesser CEO Ali bin Nasser Al-Asiri said the online platform has enabled government agencies to simplify and improve processes of their operations, increase the quality of services, and deliver services not only in a secure, cost-effective, and sustainable manner but also in accordance with the aspirations of the beneficiaries.

“More importantly, the availability of these systems has made shared government data more easily accessible for all entities and enhanced communication between them. As a result, the decision-making processes have become more effective and efficient,” he said.

The Vision 2030 agenda envisages “an ambitious nation effectively governed.” Working toward realizing this goal, Yesser has focused on providing the latest technical solutions to governmental agencies, programs, and organizations to raise the productivity and efficiency of the public sector. These solutions have revolutionized the system of service development and delivery in the Kingdom’s public sector.

For instance, the Unified National Platform “gov.sa” is a reliable portal for more than 900 government electronic services and includes information on 250 government agencies in the Kingdom, whereas the National Contact Center (Amer) is aimed at facilitating e-government transactions for the public by providing support services and addressing inquiries about 345 services offered by more than 40 government agencies associated with the center. Meanwhile, the Government Service Bus (GSB) facilitates the integration and exchange of shared government data between government agencies for safe and timely online delivery of services.

Yesser’s initiatives were also instrumental in ensuring the continuity of public sector services when various measures taken by the government to curb the spread of COVID-19 posed significant operational challenges. Besides helping activate remote working for government agencies, the entity introduced many initiatives, such as the launch of a guide for telework, benefiting 94 percent of the government agencies in the Kingdom. Yesser also collaborated with various ministries and authorities to facilitate the return of Saudi citizens stranded outside the Kingdom due to border shutdowns and air travel suspension.

Yesser was established by the Ministry of Communications and Information Technology (MCIT) in 2005 in conjunction with the Ministry of Finance and the Communication and Information Technology Commission, in response to a royal decree directing MCIT to formulate a plan for providing government services and transactions electronically.