Saudi Arabia launches women’s accountancy program

Saudi Arabia launches women’s accountancy program
1 / 2
Dr. Majid bin Abdullah Al-Qasabi. (SPA)
Saudi Arabia launches women’s accountancy program
2 / 2
The program will enhance women’s role in improving the profession and help achieve the goals of Vision 2030. (SPA)
Short Url
Updated 09 March 2021

Saudi Arabia launches women’s accountancy program

Saudi Arabia launches women’s accountancy program
  • Al-Qasabi says initiative will help achieve Vision 2030 goals

RIYADH: A program to encourage Saudi women to join the accounting profession was launched on Monday by Saudi Commerce Minister Dr. Majid bin Abdullah Al-Qasabi.

The program is organized by the Saudi Organization for Certified Public Accountants (SOCPA).
Minister of Human Resources and Social Development Ahmed Al-Rajhi was also present at the launch event.
Describing the accounting profession as the “backbone of any company,” Al-Qasabi said the industry is “instrumental” in the national economy.
The program includes training, qualification, entrepreneurship and employment streams. It is part of Saudi government efforts to empower women and increase their participation in the national economy.
“Women today have strong will, determination and ambition to succeed in all fields, especially accounting, which requires precision, analysis and vitality. Saudi women possess all these qualities,” Al-Qasabi said.
“The program will enhance women’s role in improving the profession and help achieve the goals of Vision 2030.”
The minister said that there are 140 SOCPA-certified female accountants in the Kingdom. He added that SOCPA has cooperated with Saudi universities to help more than 10,000 accounting students benefit from programs and initiatives.
SOCPA Secretary-General Dr. Ahmed Al-Maghamis told Arab News that the organization will sign multiple agreements with the private sector to help promote accounting as a profession for Saudis.
He said that SOCPA aims to fill 20,000 auditing and accounting jobs by 2022.
The new women’s accounting program also doubles up as an initiative to increase the number of Saudi accountants and enable economic sectors to receive better access accounting and auditing services, he added.

HIGHLIGHTS

• The program includes training, qualification, entrepreneurship and employment streams.

• It is organized by the Saudi Organization for Certified Public Accountants.

“The program aims to develop the skills of Saudi women and allow them to participate in SOCPA council and committees,” Al-Maghamis said.
SOCPA is also working to establish a center to support small and medium enterprises. The women’s program includes several initiatives, such as a volunteer club and accounting leaderships, the empowerment platform and the women’s council, he said.
Dr. Ghuraibah Al-Twaiher, chairperson of the Future Women Society, said that promoting women and helping them achieve professional success is necessary for future economic growth.
“Vision 2030 recognizes the key role of women in the development process and calls for greater participation of women to build a vital society,” she said.
In line with the Future Women Society’s mission to enhance women’s integrated economic value locally and internationally, the society recently signed an agreement with the Saudi Financials Association (SFA), Al-Twaiher said.
“The society aims to enable, develop and empower women’s career and professional skills. The SFA increases public awareness of the financial and accounting industries and also contributes to the development of a national cadre that is specialized in finance and accounting,” she added.
Al-Twaiher said the memorandum of understanding with the SFA includes joint cooperation in organizing and implementing awareness campaigns..
As part of this, the two organizations will design training programs for women interested in the fields of accounting and finance.
Razan Al-Sehaibani, a certified accountant, said that women are naturally suited to accounting. She added that she chose the profession because she had the capabilities to be an active member in society and contribute to building the national economy.
She praised the future of the accounting industry as “promising,” adding that the addition of more women accountants will benefit the field.


The Future of AlUla Depends on a Sustainable Growth Model

The Future of AlUla Depends on a Sustainable Growth Model
Updated 1 min 56 sec ago

The Future of AlUla Depends on a Sustainable Growth Model

The Future of AlUla Depends on a Sustainable Growth Model
  • First AlUla “Crossroads” panel concludes that Saudi Arabia’s accelerated aims to diversify the economy must marry the nation’s heritage with sustainable business models
  • The panel sought to address how the Kingdom could achieve its divergent goals of decarbonizing and diversifying the economy and creating a wider scope of employment opportunities

Saudi Arabia’s economy has long been defined by fossil fuels. However, the Gulf nation, which has some of the largest oil reserves in the world, has made the decisive step towards a sustainable future. In a bid to diversify its economy, Saudi Arabia is placing increased emphasis on integrated sustainability — which incorporates social, economic, and environmental dimensions and is grounded in principles of a circular economy — is at the forefront of all major developments in the Kingdom.

This includes AlUla, the ancient valley in Saudi Arabia’s Madinah region that covers a landmass of over 22,500 square meters and is being transformed into an “open-air museum” to showcase its 200,000 years of human history to the world under the Journey Through Time Masterplan, the vision for AlUla unveiled by Crown Prince Mohammed bin Salman, chairman of the board of directors of the Royal Commission for AlUla.

At the core of the masterplan, which was unveiled on April 7, is integrated sustainability, the subject of the first panel staged by the Royal Commission of AlUla’s as part of its “Crossroads: Intellectual Panel Program.”

Aptly titled “At the Crossroads: People and Planet: Can AlUla Unlock a Sustainable Future?” Moderated by Dr. Maliha Hashmi, executive director of health, wellbeing and biotech at NEOM, Saudi Arabia’s planned cross-border city in the Tabuk region, panelists included businessman and entrepreneur Alejandro Agag; former Italian Prime Minister Matteo Renzi; architect and leader in sustainable design William McDonough; James Hardcastle, director of the International Union for the Conservation of Nature (IUCN) Green List; Carlos Duarte, a biological oceanographer; and Gérard Mestrallet, executive chairman of Afalula, the French agency for Alula Development.

The panel sought to address how the Kingdom could achieve its divergent goals of decarbonizing and diversifying the economy, creating a wider scope of employment opportunities, and bolstering Saudi Arabia’s social and economic contribution to the global community in the most efficient and sustainable way possible. For example, the Kingdom has recently taken initial steps to reduce Saudi Arabia’s emissions by planting 10 billion trees and generating half its energy from renewables by 2030.

“They all have relationships that interact, and the important thing is to see this whole set of issues as a kind of ecosystems and organisms,” said McDonough, adding: “Everything kind of affects everything else and the benefits are tremendous. The recognition of multiplier effects is a key part of it, we find the economics work really beautifully and soon as you start to realize there are benefits coming from lots of directions.”

Sustainability is a vital part of any business, declared Agag, the CEO of Formula E, the single-seater motorsport championship that only uses electric cars. His business and entertainment model continues to prioritize sustainability.

“I think now the difficulty is not to make sustainability and business compatible, the difficulty is to do a business without having a sustainability angle in your business,” he said. “When we started Formula E 10 years ago and launched the first race in Beijing in 2014, everybody thought that Formula E would crash and burn.”

He added: “All the motorsport world had this consensus. My old-time partner and at the time CEO of Formula 1 Bernie Ecclestone told me that an electrical championship would never make it to the first race. But we did.”

Agag explained how the championship now has support from world’s major manufacturers. It has strong revenues, big sponsors, and continuous growth — all because it promotes electric cars. “And we did it at a time in 2014 when electric cars were not as available as now,” added Agag.

How does a nation push social and economic sustainability, particularly in respect to resurrecting ancient sites such as AlUla? Renzi, who contributed greatly to the revitalization of the sites of Pompei and Matera in Italy, transforming them into vibrant cultural and touristic destinations, agreed with Agag, stating that it is “impossible to do business without sustainability.”

He said: “The same is true for culture and tourism,” adding: “Pompei and Matera are very exciting examples. Pompei was one of the most amazing places around the world but in the last 20 to 50 years, Italy lost the momentum to invest in a new narrative for Pompei. Our government decided to involve the EU and Pompei pre-pandemic achieved its maximum number of visitors.”

The same is true for Matera, a rocky outcrop in the region of Basilicata, in southern Italy, which now houses museums such as the Casa Grotta di Vico Solitario, he continued.

“Matera became the capital of culture in Europe after a long period in which people thought of Matera as a place of ruin and disaster,” explained Renzi.

“What is the strategy? What is the secret?” posed Renzi. “In my view it is exactly what has been decided by the Royal Commission for AlUla: Use a great place, one of the capitals of the past, and transform it into a place for the future.”

What can we draw from 200,000 years of human history at AlUla to reimagine sustainability, challenge conventional wisdom, and draw inspiration from ancient ingenuity? Moreover, Hashmi posed, how does Saudi Arabia bring communities on board and balance the interests of protecting natural landscapes against urbanization and the needs of growing communities?

Hardcastle agreed that business cannot be done today without a sustainable approach.

“You cannot do nature conservation and protection without communities from that place,” he said. “With IUCN we’ve set up alongside our global members 160 countries and 20,000 scientists who have come together and discussed what makes nature conservation effective, especially in areas like Sharaan, AlUla, and other places in Saudi Arabia.

“The overwhelming response is that the places that are effective are where you have had full engagement from the outset with the communities who live and breathe the air who do not see these places as wild but see them as part of their heritage.”

As Saudi Arabia moves into its next chapter of growth, what this panel underlined was the crucial balance that must be struck between maintaining the country’s heritage and ancient past, using its local communities and employing sustainable practices in all areas of business and development.


Saudi Arabia confirms 11 COVID-19 deaths, 1,055 new cases

Saudi Arabia confirms 11 COVID-19 deaths, 1,055 new cases
Updated 35 min 17 sec ago

Saudi Arabia confirms 11 COVID-19 deaths, 1,055 new cases

Saudi Arabia confirms 11 COVID-19 deaths, 1,055 new cases
  • The Kingdom said 1,086 patients recovered in past 24 hours
  • The highest number of cases were recorded in Riyadh with 468

RIYADH: Saudi Arabia recorded 11 new COVID-19 related deaths on Monday, raising the total number of fatalities to 6,869.
The Ministry of Health confirmed 1,055 new confirmed cases reported in the Kingdom in the previous 24 hours, meaning 409,093 people have now contracted the disease. 
Of the total number of cases, 9,776 remain active and 1,182 in critical condition.

According to the ministry, the highest number of cases were recorded in the capital Riyadh with 468, followed by Makkah with 206, the Eastern Province with 166, Madinah recorded 41, and Asir confirmed 35 cases.
The ministry also announced that 1,086 patients had recovered from COVID-19, bringing the total number of recoveries in the Kingdom to 392,448.
The ministry renewed its call on the public to adhere to the measures and abide by instructions.
The coronavirus pandemic has affected over 144 million people globally and the death toll has reached around 3.07 million.


King Salman leads Saudi delegation at US-hosted leaders’ virtual summit on climate

King Salman speaking at the virtual summit. (Photo: Bandar Galoud)
King Salman speaking at the virtual summit. (Photo: Bandar Galoud)
Updated 4 min 59 sec ago

King Salman leads Saudi delegation at US-hosted leaders’ virtual summit on climate

King Salman speaking at the virtual summit. (Photo: Bandar Galoud)
  • The King’s participation reaffirms Saudi’s commitment to face climate change
  • The virtual summit will be live streamed for public viewing

DUBAI: King Salman led Saudi Arabia’s delegation to the virtual Leaders Summit on Climate being hosted by the US on Thursday.

American President Joe Biden’s invitation to 40 world leaders for climate talks, which happens on April 22 and 23, follows on his announcement shortly after his January inauguration that he would convene a leaders summit to galvanize efforts by the major economies to tackle the climate crisis.

The virtual summit will be live streamed for public viewing, the White House website has announced.

The King’s participation reaffirmed Saudi’s commitment to face climate change and is an extension of the earlier announced Green Saudi Arabia and Green Middle East initiatives, SPA reported.


New envoy to Sweden Einas Al-Shahwan becomes Saudi Arabia’s 3rd female ambassador

New envoy to Sweden Einas Al-Shahwan becomes Saudi Arabia’s 3rd female ambassador
Updated 22 April 2021

New envoy to Sweden Einas Al-Shahwan becomes Saudi Arabia’s 3rd female ambassador

New envoy to Sweden Einas Al-Shahwan becomes Saudi Arabia’s 3rd female ambassador

RIYADH: Einas Al-Shahwan, the Kingdom’s ambassador-designate to Sweden, has become Saudi Arabia’s 3rd female ambassador.
During a virtual meeting with King Salman and Crown Prince Mohammed bin Salman, Al-Shahwan was among a number of newly appointed ambassadors taking their oath.

The oaths were taken in front of King Salman and Crown Prince Mohammed bin Salman. (SPA)

The ceremony was also attended by Prince Faisal bin Farhan, Saudi Arabia’s foreign minister.

Princess Reema bint Bandar bin Sultan became the first female ambassador when she was named the Saudi envoy to the US in 2019. 
In Oct. 2020, Amal Al-Mouallami was appointed as Saudi ambassador to Norway.

Below is a complete list of the new appointments:

The ambassador-designate to the Republic of Portugal, Prince Saud bin Abdul Mohsen bin Abdulaziz;
the ambassador-designate to Sweden Einas bint Ahmed Al-Shahwan;
the ambassador-designate to the Sultanate of Oman, Abdullah bin Saud Al-Anzi;
the ambassador-designate to the Czech Republic, Abdullah bin Mutaab Al-Rasheed;
the ambassador-designate to the Republic of Korea, Sami bin Muhammad Al-Sadhan;
the ambassador-designate to Turkmenistan, Saeed bin Othman Suwaied;
the ambassador-designate to the United Republic of the Comoros, Atallah bin Zayed bin Zayed;
the ambassador-designate to the Republic of Tajikistan Walid bin Abdulrahman al-Rashidan;
the ambassador-designate to the Kyrgyz Republic Ibrahim bin Radi Al-Radi;
the ambassador-designate to the Republic of Albania, Faisal bin Ghazi Hafzi;
the ambassador-designate to the Republic of Kenya Khalid bin Abdullah Al Salman;
the ambassador-designate to the Islamic Republic of Afghanistan Faisal bin Talq Al-Baqami;
the ambassador-designate to the Republic of Cuba Faisal bin Falah Al-Harbi;
the ambassador-designate to the Republic of Chad Amer Bin Ali Al-Shahri;
the ambassador-designate to the Republic of Burkina Faso Fahd bin Abdulrahman Al-Dossary.

The oaths were taken in front of King Salman and Crown Prince Mohammed bin Salman. (SPA)

Saudi Cruise partners with MSC Cruises for winter season

Saudi Cruise partners with MSC Cruises for winter season
Updated 22 April 2021

Saudi Cruise partners with MSC Cruises for winter season

Saudi Cruise partners with MSC Cruises for winter season
  • The two companies are aiming to host 170,000 cruise guests this winter

JEDDAH: Saudi Cruise Co., owned by the Public Investment Fund, signed a joint agreement on Wednesday with MSC Cruises to launch its trips in the Red Sea and the Arabian Gulf during the upcoming winter season.
The announcement came during a meeting between Fawaz Farooqui, interim CEO of the Red Sea Cruise Co., and Pierfrancesco Vago, executive chairman of MSC Cruises, in Riyadh to sign the framework agreement to mark the start of the new partnership.
The two companies are aiming to host 170,000 cruise guests this winter.
Under the agreement, the MSC Magnifica will sail in the Red Sea from Jeddah on several seven-day trips from Nov. 13 through March 26. These trips will offer passengers access to a selection of ports and destinations on the coasts of the Red Sea. A weekly stopover will be included at Al-Wajh Port, which will connect passengers with AlUla, a UNESCO World Heritage site.
The city of Jeddah is preparing for the first Formula 1 race hosted by the Kingdom on Dec. 5. These trips will provide an opportunity for some passengers of the MSC Magnifica to enjoy this global sports event in conjunction with their trips aboard the cruise.
MSC Magnifica will visit Dammam on a weekly basis from Dec. 2 through March 24, as part of its winter program in the Arabian Gulf. This trip will allow passengers to visit the Al-Ahsa Oasis, another UNESCO World Heritage site in the Kingdom, in addition to many exciting destinations and attractions in the region.
Farooqui said his company is keen to establish a long-term partnership, which will increase the number of cruises coming to Saudi Arabia in the future.
“The Kingdom has a lot to offer to its visitors, and the new cooperation will open the doors for travelers from all over the world to be among the first to have the opportunity to explore the rich Saudi heritage and hospitality,” he said.
Farooqui also said these trips will diversify the Saudi economy and increase the country’s GDP. In addition, the cruises will provide employment opportunities in the fields of port business, tourism and entertainment in the selected destinations to nearby communities.
By the year 2035, the company aims to create 50,000 direct and indirect job opportunities through the newly established cruise sector.
Vago said he wants his company to place Saudi Arabia on the global cruise map and make it a major tourist destination.
“We look forward to providing new experiences for tourists from within and outside the Kingdom, enabling them to discover the beauty of untouched islands, the picturesque beaches along the Saudi coasts, in addition to the historical and heritage sites scattered in many tourist destinations,” he said.