Abdul Latif Jameel Finance launches ‘Cash Jameel’ for SMEs

Abdul Latif Jameel Finance launches ‘Cash Jameel’ for SMEs
Short Url
Updated 13 January 2022

Abdul Latif Jameel Finance launches ‘Cash Jameel’ for SMEs

Abdul Latif Jameel Finance launches ‘Cash Jameel’ for SMEs

RIYADH: Abdul Latif Jameel Finance has launched its latest product, Cash Jameel, targeting small and medium enterprises as an Islamic Tawarruq product.

The introduction of Cash Jameel is part of the company’s strategy to diversify its financial products and serve a larger segment of its customers and meet their needs.

The genesis of this product comes on the back of the launch of various products by the company within the financial services sector, including financing for cars, heavy equipment, as well as productive and consumer assets. 

Abdul Latif Jameel Finance prioritizes the burgeoning small and medium enterprise sector and understands the importance of supporting it as a means of driving forward the development and advancement of the nation’s economy.

The company collaborates with the Small and Medium Enterprises Authority and the “Kafalah” program to support this important sector. 

Small and medium enterprises may apply via the company website: www.aljfinance.com


Masar Destination, Future Investment Initiative Foundation Strategic Partner, participates in New York ‘PRIORITY’ Summit

Richard Attias, CEO, FII Intitute
Richard Attias, CEO, FII Intitute
Updated 25 September 2022

Masar Destination, Future Investment Initiative Foundation Strategic Partner, participates in New York ‘PRIORITY’ Summit

Richard Attias, CEO, FII Intitute

Umm Al-Qura for Development and Construction Company, owner and developer of Masar, the SR100 billion ($26.6 billion) upcoming destination in Makkah, participated in a summit organized by the Future Investment Initiative Institute in New York on Sept. 22. The “Priority” summit took place on the sidelines of the 77th session of the UN General Assembly.

Masar’s participation comes in line with its eagerness to effectively contribute to the institute’s work and to highlight priorities of people from all walks of life — leaders, CEOs, academics, investors and more. The summit mainly discussed the highest priority for each segment of society as the world goes through extraordinary social, economic and geopolitical changes.

Masar aims to achieve its strategic objectives in terms of environmental social governance practices by implementing the highest standards of sustainable growth and investment. The destination aims to support various development and economic initiatives, which in return will make a positive impact on humanity and achieve a better vision for the future of investments.

Masar is the strategic partner of the Future Investment Initiative Institute, which is gearing up to host the sixth edition of the FII conference in Riyadh from Oct. 25-27, under the theme “Investing in Humanity: Enabling a New Global Order.” The FII represents a platform targeting influential business leaders locally and globally and focuses on topics related to the economic future of the world and other key areas. The conference is a key opportunity for investment cooperation between national and international institutions in various sectors.


Saudi artificial intelligence summit attracts global talents

Saudi artificial intelligence summit attracts global talents
Updated 25 September 2022

Saudi artificial intelligence summit attracts global talents

Saudi artificial intelligence summit attracts global talents

A group of artificial intelligence graduate students from several prestigious international universities concluded their participation in the second edition of the Global AI Summit, which concluded last week in Riyadh. The students also visited Masmak Palace in the center of Riyadh to be briefed on the history of the capital.

The students represented six countries, joined by several Saudi scholarship students in the same specialization. Their participation came within the knowledge exchange initiative launched by the Saudi Data and Artificial Intelligence Authority, which hosted 19 male and female students of different nationalities including the US, the UK, India, Jordan, Algeria, South Korea and Nigeria. These students study at international universities and institutes, including the Sorbonne University in Paris, Oxford University, University College London, Durham University, Nottingham University, Sussex University in the UK, the Massachusetts Institute of Technology in the US, and King’s College London.

Through this initiative, SDAIA aimed to attract global capabilities in AI and enhance the role of distinguished youths, based on the Kingdom’s Vision 2030 and its aspirations to enable them to lead the future of AI in the Kingdom, the region and the world.

SDAIA President Dr. Abdullah Al-Ghamdi said that the knowledge exchange initiative was designed to achieve several benefits, including engaging visiting students in knowledge exchange dialogues to explore opportunities for future cooperation, and introducing them to the Kingdom’s efforts in pioneering data and AI in a journey that Saudi students will lead with their peers from international universities.

He said that the SDAIA aims through the initiative to build qualitative partnerships that support its efforts in data and AI and help attract global capabilities to the Kingdom. Al-Ghamdi added that the initiative contributes to activating the distinguished role of Saudi youth and engaging them in a real dialogue that develops their leadership spirit and shows their knowledge capabilities. “This will enhance the Kingdom’s position in data and AI as the initiative provides the opportunity to exchange knowledge and explore opportunities for future cooperation through a constructive dialogue that brings together Saudi youth and foreign graduate students,” he said.

The second edition of the Global AI Summit was held under the patronage of Crown Prince Mohammed bin Salman, deputy prime minister and chairman of the SDAIA.

The event took place at the King Abdulaziz Conference Center in Riyadh from Sept. 13-15. The three-day summit featured 200 speakers who lead data and AI policy reform in 70 countries, with the participation of more than 3,000 attendees from across the world.


stc leadership congratulates King Salman, Crown Prince on N-Day

stc leadership congratulates King Salman, Crown Prince on N-Day
Updated 25 September 2022

stc leadership congratulates King Salman, Crown Prince on N-Day

stc leadership congratulates King Salman, Crown Prince on N-Day

Prince Mohammed bin Khalid Al-Abdullah Al-Faisal, chairman of stc, and Olayan bin Mohammed Alwetaid, chief executive of stc Group, congratulated King Salman, Crown Prince Mohammed bin Salman and the Saudi people, on the occasion of the 92nd National Day.

The stc chairman said: “The 92nd National Day anniversary comes as we continue the march toward progress and development, moving forward to achieve the ambitions and goals set by our wise leadership under Vision 2030.”

He added: “The great and diverse achievements we see today across different areas in the Kingdom of Saudi Arabia are the absolute proof that the march started by the Kingdom’s Vision 2030 is steadily moving forward toward building our great nation with the help of Saudi hands.

“The huge digital leaps reflect the Kingdom’s accomplishments and have given the Kingdom a solid digital infrastructure that has enabled it to face crises and ensure business continuity across various fields. These changes resulted in an increasing demand for digital services, which helped accelerate digital transformation as one of the pillars of the Kingdom’s Vision 2030 and a key driver of development in the digital economy.

“The core of stc’s mission is constantly focused on innovation and development of digital solutions to establish its local and regional leadership as well as its global reputation, in addition to playing a pivotal role as one of the leading digital enablers in the Kingdom and the region.”

Prince Mohammed bin Khalid expressed appreciation for the wise leadership for their support and interest in uplifting the ICT sector while enhancing the digital transformation process and consolidating the position of the Kingdom as the largest and fastest growing digital economy in the Middle East and North Africa.

Meanwhile, stc Group CEO Alwetaid said: “The ICT sector contributes to the growth of the digital economy in the Kingdom at an unprecedented pace. During H1 of 2022, stc Group investments reached SR5 billion ($1.3 billion). This helped establish the Kingdom’s position as one of the world’s largest economies.”

He said that the stc Group will continue its strategy to expand and grow in nontraditional ways by building strategic partnerships, establishing specialized technology companies and making acquisitions as part of its efforts to achieve its vision of growth, while relying on the group’s modern infrastructure and technologies.

“During this year, we have concluded several partnerships with a number of international companies, including an agreement to localize data centers and train Saudi talents with Huawei, an agreement to enhance 5G networks with Ericsson, develop areas of innovation with Microsoft and other agreements aimed at developing technological fields in the Kingdom. We also launched the Saudi Cloud Computing Company in partnership with Alibaba Cloud and established Saudi Arabia’s SITE and SCAI.”

Furthermore, we announced an IoT company in partnership with the Public Investment Fund and launched an initiative to establish a major digital center — MENA Hub — for the Middle East and North Africa region. Moreover, our investments in submarine cables, adopted initiatives, had a sustainable impact on society, the economy and the environment. The InspireU incubator supports entrepreneurs in their technology startups, reaching 75 projects till date, with a market value today exceeding hundreds of millions in addition to 15 new projects in the ninth batch,” Alwetaid said.

“We are pleased with our achievements as a culmination of our ongoing contributions to the growth and prosperity of the ICT sector,” he said.


With 30 new outlets in 2022, Al-Borg solidifies position in KSA

With 30 new outlets in 2022, Al-Borg solidifies position in KSA
Updated 25 September 2022

With 30 new outlets in 2022, Al-Borg solidifies position in KSA

With 30 new outlets in 2022, Al-Borg solidifies position in KSA

Al-Borg Diagnostics, the largest chain of private laboratories in the field of medical diagnostics and consultations in the GCC, has further strengthened its position in Saudi Arabia by opening 30 new branches in 2022, bringing the total to 72 outlets across all regions and governorates of the Kingdom. The expansion of Al-Borg Diagnostics stems from its keenness to raise the level of health services in line with the Kingdom’s Vision 2030, which focuses a large part of its efforts on this important sector.
The company recently announced a range of packages and offers — suitable for all needs and budgets — to mark the 92nd Saudi National Day.
Dr. Saeed Al-Amoudi, CEO of Al-Borg Diagnostics, said: “On the happy occasion of the National Day, we congratulate the government of the Custodian of the Two Holy Mosques under the leadership of King Salman and Crown Prince Mohammed bin Salman, the Saudi people and residents. We renew our commitment to raising the level of quality of life and improving health services to protect our future generations, as a positive contribution to achieving Vision 2030.

FASTFACT

Established in 1998, when it opened its first laboratory in Jeddah, Al-Borg Diagnostics managed to expand to all major cities in the Kingdom by the year 2004.

“Al-Borg Diagnostics will continue to strengthen its position as the largest medical laboratories in the Kingdom of Saudi Arabia and benefit from its reputation as a pioneering company in this field that provides unprecedented services and meets the increasing demand for clinical diagnostics services.”

We renew our commitment to raising the level of the quality of life and improving health services to protect our future generations, as a positive contribution to achieving Vision 2030, says
Dr. Saeed Al-Amoudi CEO of Al-Borg Diagnostics

Al-Amoudi added: “We are making our efforts according to the plan set for more than 20 years, aiming to lead in the field of diagnostic and advisory services, in order to raise the level of medical services provided to our valued customers and increase the patients’ confidence in Al-Borg Diagnostics and its partners.”
Established in 1998, when it opened its first laboratory in Jeddah, Al-Borg Diagnostics managed to expand to all major cities in the Kingdom by the year 2004.
Today, it provides a range of laboratory services and medical consultations to millions of people every year, using the latest state-of-the-art devices that are characterized by their accuracy and speed of results. The company conducts more than 16.3 million tests per year and has 83 international accreditations. Moreover, it has established the first private molecular genetics unit in the private medical diagnostics industry in the Kingdom.

 


Hyundai and Murouj collaborate for a green future

Senior management officials from both sides at the partnership signing ceremony.
Senior management officials from both sides at the partnership signing ceremony.
Updated 25 September 2022

Hyundai and Murouj collaborate for a green future

Senior management officials from both sides at the partnership signing ceremony.
  • As part of the Saudi Green initiative, Hyundai and Murouj aim to contribute to environmental protection, energy transformation and sustainability programs to achieve the common goal of a green future

Hyundai Motor Company and its three distributors in the Kingdom — Wallan Trading, Almajdouie Motors and Mohamed Yousuf Naghi Motors Co. — have partnered with the Vegetation Cover Development Foundation, known as Murouj, for a new sustainable project that includes the planting of 10,000 mangrove trees across Saudi Arabia. The campaign reflects the far-reaching impact of Hyundai’s sustainability initiative “Continue” on its community, aiming to further give back to the Kingdom, Hyundai’s biggest market in the MENA region.
As part of the Saudi Green initiative, Hyundai and Murouj aim to contribute to environmental protection, energy transformation and sustainability programs to achieve the common goal of a green future. This shared responsibility is dedicated to expanding the knowledge of the general public on the importance and vital role sustainability initiatives play toward a future fit for the next generation.

NUMBER

100,000

mangrove trees will be planted across Saudi Arabia as part of the partnership between Hyundai Motor Company, represented by its three Saudi distributors, and Murouj.

“This campaign revolves around one key message — ‘Do More for Less Emission’ — which encourages the idea of taking more sustainable steps and decisions to create less environmental footprints and help the planet heal from the negative consequences of wrong and harmful practices that have dominated the last few decades,” said Hyoung Jung Im, vice president of Hyundai Motor Company.
Murouj will be responsible for the implementation and management of green lands under the project.
The campaign aims to serve as a starting point for many more collaborative projects of Hyundai in the MENA region, aiming to carry on the brand’s vision and commitment to sustainability.
Established in 1967, Hyundai Motor Company is present in more than 200 countries with over 120,000 employees dedicated to tackling real-world mobility challenges around the globe. Based on the brand vision “Progress for Humanity,” Hyundai is accelerating its transformation into a smart mobility solution provider. In pursuit of a sustainable future for the world, Hyundai will continue its efforts to introduce zero-emission vehicles equipped with industry-leading hydrogen fuel cell and EV technologies.