Saudi Arabia gives $50m to Sri Lanka for medical faculty

Saudi Arabia gives $50m to Sri Lanka for medical faculty
Updated 19 September 2019

Saudi Arabia gives $50m to Sri Lanka for medical faculty

Saudi Arabia gives $50m to Sri Lanka for medical faculty

COLOMBO: Saudi Arabia provided a concessional loa3eeeillion) to Sri Lanka on Wednesday to establish a fully equipped faculty of medicine at the Sabaragamuwa University at Ratnapura.

The agreement was signed between vice chairman and managing director of the Saudi Fund for Development (SFD), Dr. Khaled Sulaiman Al-Khudairy, and secretary to the Ministry of Finance, Dr. R.H.S. Samaratunga, in the presence of the Saudi Ambassador in Colombo Abdulnasser Al-Harthy.

Following the signing ceremony at the Ministry of Finance in Colombo, Samaratunge said that the Saudi funding would help to contribute to the government policy of augmenting opportunities for higher education in medicine in Sri Lanka.

The funds will be used to construct infrastructure facilities and to provide undergraduates with state-of-the-art teaching and learning facilities (laboratory and other equipment) that will help provide them with a world-class medical education.

FASTFACT

 

The Muslim World League recently donated $5 million during Secretary-General Dr. Mohammed bin Abdulkarim Al-Issa’s visit to Sri Lanka to help the victims of the Easter Sunday bomb blasts.

Al-Harthy said that this is one of the several projects that is funded by the Saudi Fund for Development. The SFD has given SR1.4 billion to Sri Lanka as soft loans and grants since the 1980s, he said.

“We hope to help Sri Lanka not only in education; we will consider more such facilities in health, roads, irrigation, community development and agricultural sectors,” Al-Harthy said. 

Last year, the SFD granted two concessional loans worth $73 million to Sri Lanka for its higher education and water resource management sectors.

The SFD provided $28 million for the Wayamba University Township Development Project, which is being implemented by the Ministry of Higher Education and Highways. This project is designed to develop the academic facilities and infrastructure of the university as well as support the livelihoods of people who live in the area around it. The SFD also provided a concessional loan of $45 million to implement the Left Bank Development Project in Kaluganga.

The Muslim World League recently donated $5 million during Secretary-General Dr. Mohammed bin Abdulkarim Al-Issa’s visit to Sri Lanka to help the victims of the Easter Sunday bomb blasts.


Fraudsters up their game, posing as bank officials on the phone in Saudi Arabia

Fraudsters up their game, posing as bank officials on the phone in Saudi Arabia
Vishing that occurs during a telephone call aims to provoke fear in the victim so that customers will be more susceptible to giving out personal, financial, or security details. (shutterstock)
Updated 18 January 2021

Fraudsters up their game, posing as bank officials on the phone in Saudi Arabia

Fraudsters up their game, posing as bank officials on the phone in Saudi Arabia
  • The Saudi Central Bank has warned bank customers, both citizens and expatriates, not to fall victim to financial frauds being perpetrated by scammers

JEDDAH: Fraudsters have developed a new scam, contacting residents in Saudi Arabia and pretending to be bank staffers requesting customer details.
A number of Arab News staff have received such calls in recent weeks. One caller spoke Urdu while two other callers posing as senior officials from the headquarters of the bank spoke in English and Arabic with a local accent.
They used phone numbers that appeared to be local numbers but upon calling back, the lines failed to connect.
The racketeers collect phone numbers of customers and ring them up, saying that their bank account or ATM card requires immediate updating. The scammers use the information provided to gain access to their bank accounts.
Speaking to Arab News, Talat Zaki Hafiz, secretary-general of the Media and Banking Awareness Committee of Saudi banks, said: “Saudi banks represented by the Media and Banking Awareness Committee have repeatedly warned bank customers not to react to stray phone calls of any kind coming from unknown sources that ask to update their banking record or personal information.” He further confirmed that banks do not request such information through phone calls or SMS messages.
Mohammed Khurram Khan, a professor of cybersecurity at the King Saud University in Riyadh, told Arab News: “Phishing, an online scam which targets users through emails where individuals are encouraged to click on a link that takes them to fraudulent sites, was troubling people. Now it’s a different kind of scam known as ‘vishing,’ over-the-phone phishing, where scammers persuade users to share their banking information by impersonating a bank official.”

HIGHLIGHT

The racketeers collect phone numbers of customers and ring them up, saying that their bank account or ATM card requires immediate updating. The scammers use the information provided to gain access to their bank accounts.

Vishing that occurs during a telephone call aims to provoke fear in the victim so that customers will be more susceptible to giving out personal, financial, or security details.
Sharing his experience Zafar Hasan, an e-learning consultant in Riyadh, said: “I received a call from someone on an unknown mobile number who introduced himself as a bank employee and told me that my ATM card was going to be blocked. It required an immediate update so I should give my Iqama number (residence permit number) and sixteen-digit ATM card number. I felt something was fishy, so I told him that I would go personally to the bank to update the card.”
The Saudi Central Bank (SAMA) has warned bank customers, both citizens and expatriates, not to fall victim to financial frauds being perpetrated by scammers.
SAMA called on bank customers to take information only from the official channels of the bodies regulating the Kingdom’s financial and investment sectors and inform the competent security authorities about such fraudulent attempts.