Who’s Who: Hassan Al-Jeshi, CEO of an asset management firm Malaz Capital

Who’s Who: Hassan Al-Jeshi, CEO of an asset management firm Malaz Capital
Hassan Al-Jeshi
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Updated 12 August 2022

Who’s Who: Hassan Al-Jeshi, CEO of an asset management firm Malaz Capital

Who’s Who: Hassan Al-Jeshi, CEO of an asset management firm Malaz Capital

Hassan Al-Jeshi was appointed CEO of Malaz Capital in July this year.

Malaz Capital is an asset management firm operating under the regulations of the Capital Market Authority of Saudi Arabia.

The company obtained its CMA license in 2010, and is authorized to carry out asset management, dealing as principal and custody services in the Kingdom.

Prior to joining Malaz Capital, Al-Jeshi held several leadership positions in leading investment institutions and a group of national and international banks, including head of equity capital markets at Saudi National Bank Capital in 2021, the investment arm of SNB.

He worked at Samba Financial Group, holding two different positions including assistant general manager from 2017, and head of investment banking from 2020 at Samba Capital, the group’s investment arm.

From 2013-17, Al-Jeshi worked as group head of corporate finance at Alistithmar Capital, the investment arm of The Saudi Investment Bank.

In 2012, he worked in energy and infrastructure investment banking at Taylor-DeJongh, Washington, DC.

Al-Jeshi has extensive professional experience in the field of investment and capital markets locally, regionally, and internationally, where he has led through his positions multiple landmark and significant investment transactions.

At Samba he managed and oversaw the full cycle of investment banking deal-related activities, including deal origination, client management, building financial models, performing valuation, transaction structuring, and preparing to offer documents, reviewing transaction agreements and more.

Al-Jeshi holds a bachelor’s degree in finance from King Fahd University of Petroleum and Minerals which he received in 2005, and in 2013 he earned a master’s degree in finance from George Washington University in the US.


Three sentenced to 18 years in jail for money laundering in Saudi Arabia

Three sentenced to 18 years in jail for money laundering in Saudi Arabia
Updated 01 December 2022

Three sentenced to 18 years in jail for money laundering in Saudi Arabia

Three sentenced to 18 years in jail for money laundering in Saudi Arabia
  • The Saudi citizens had issued commercial registers for several entities and opened bank accounts

RIYADH: Two Saudi citizens and one resident have been sentenced to 18 years in jail and fined $133,000 for money laundering, the Saudi Public Prosecution said on Thursday.

Police investigations earlier revealed that the Saudi citizens had issued commercial registers for several entities and opened bank accounts.

The citizens then handed the resident the commercial registers and the bank accounts, through which they made financial transactions and transferred huge sums of money outside the Kingdom, reported the Saudi Press Agency (SPA).

The Public Prosecution said funds were generated through “illegal” means as the accused used the commercial registers as a cover to transfer the money abroad.

The court ruled confiscating a similar value of the funds transferred abroad and the proceeds of the crimes.

The resident will be deported after serving his jail term, read the Public Prosecution statement.


UNESCO adds Saudi Khawlani coffee, Camel Heda’a to intangible cultural heritage list

UNESCO adds Saudi Khawlani coffee, Camel Heda’a to intangible cultural heritage list
Updated 01 December 2022

UNESCO adds Saudi Khawlani coffee, Camel Heda’a to intangible cultural heritage list

UNESCO adds Saudi Khawlani coffee, Camel Heda’a to intangible cultural heritage list
  • 11 of Kingdom’s historical practices, items recognized
  • Arabic music, art, dance registered with world body

RIYADH: UNESCO on Wednesday added Saudi Khawlani coffee, and the skills and knowledge associated with its cultivation, and Camel Heda’a to this year’s Representative List of the Intangible Cultural Heritage of Humanity, the Saudi Press Agency reported.

The decision was taken in Morocco during the annual meeting of the UN’s Intergovernmental Committee for the Safeguarding of Intangible Cultural Heritage.

The Kingdom, in cooperation with Oman and the UAE, led the joint application to register Camel Heda’a, which is an oral tradition where herders communicate with their animals. The communication includes guiding camels to safety during sandstorms, instructing them to open their mouths to feed and having them drop onto their knees to be mounted.

The registration of Saudi Khawlani coffee involved the efforts of several bodies including the Heritage Commission, Ministry of Culture, the National Committee for Education, Science and Culture, the Permanent Saudi Delegation to UNESCO, the Culinary Authority, and the Saudi Society for the Preservation of Heritage.

Khawlani coffee is one of the most luxurious and famous types in the world and has been cultivated in the south of the Kingdom for more than eight centuries. It is associated with the customs, poetry and songs of the people of the region.

With these new additions, Saudi Arabia has now registered 11 cultural elements with UNESCO including the Majlis, Arabic coffee, the Najdi Ardah dance, the flute, falconry, the Asiri cat, the palm tree, the Sadu weaving craft and Arabic calligraphy.

This registration forms part of Saudi Arabia’s Vision 2030 that aims to document the nation’s rich heritage for future generations locally and abroad.


Saudi Program delivers 150 homes in Yemen

Saudi Program delivers 150 homes in Yemen
Updated 01 December 2022

Saudi Program delivers 150 homes in Yemen

Saudi Program delivers 150 homes in Yemen
  • The project also included the repair of 600 homes, benefiting over 4,000 beneficiaries in Aden

RIYADH: The Saudi Program for the Development and Reconstruction of Yemen (SDRPY) delivered 150 homes in Aden, Yemen, to improve the living conditions of low-income families.

The new residences were part of the ‘adequate housing’ project, carried out in partnership United Nations Human Settlements Program (UN-HABITAT) and Alwaleed Philanthropies, reported the Saudi Press Agency (SPA).

The project also included the repair of 600 homes, benefiting over 4,000 beneficiaries in Aden.

It also provided vocational training for Yemeni construction workers in electricity, solar energy, photography, and painting, and upskilled 40 engineers in advanced geographical information systems, construction project management, specialized procurement and project cost calculation, and technical and economic feasibility studies.

Engineers from the Ministry of Public Works and Roads have also been trained in project management, according to SPA.

Ahmed Medkhali, SDRPY director in Aden, said the project was part of Saudi Arabia’s intensified effort to rehabilitate damaged homes and build safe residences that provide proper living conditions for the Yemeni people.


Saudi defense ministry, Spain’s Navantia sign combat ships agreement

Saudi defense ministry, Spain’s Navantia sign combat ships agreement
Updated 01 December 2022

Saudi defense ministry, Spain’s Navantia sign combat ships agreement

Saudi defense ministry, Spain’s Navantia sign combat ships agreement

RIYADH: Saudi Arabia’s defense ministry and Saudi General Authority for Military Industries signed an agreement with Spain’s Navantia company to acquire and build a number of multi-mission combat ships for the Royal Saudi Naval Forces, the Saudi Press Agency reported on Thursday.

The Kingdom’s Defense Minister Prince Khaled bin Salman and Spain’s Minister of Industry, Commerce, and Tourism María Reyes Maroto attended the agreement’s signing ceremony.

Prince Khaled said on Twitter that this agreement falls within Crown Prince Mohammed bin Salman’s vision to strengthen the capabilities of the Saudi defense ministry.

“This MOU represents the latest effort to fulfill the vision of HRH the Crown Prince and Prime Minister to localize our military industry and empower and strengthen the capabilities of the ministry of defense, which will help provide security for our country and region,” he said.

The agreement aims to raise the level of readiness of the Royal Saudi Naval Forces to enhance maritime security in the region, protect the Kingdom’s vital and strategic interests, and support defense ministry’s  operational and tactical goals.

According to the agreement, Navantia will localize up to 100% of naval shipbuilding, integration of combat systems, and ship maintenance, in line with Saudi Vision 2030 objectives.

It also focuses on integrating combat systems into new ships, engineering and designing systems and hardware, and developing software.

Testing, systems verification, prototyping, simulation, as well as logistical support and training program design will also be within the scope of the agreement.


KSRelief chief meets UN assistant secretary-general for humanitarian affairs

KSRelief chief meets UN assistant secretary-general for humanitarian affairs
Updated 01 December 2022

KSRelief chief meets UN assistant secretary-general for humanitarian affairs

KSRelief chief meets UN assistant secretary-general for humanitarian affairs

RIYADH: Dr. Abdullah Al-Rabeeah, the adviser at the Saudi Royal Court and general supervisor of the King Salman Humanitarian Aid and Relief Center, on Wednesday met with UN Assistant Secretary-General for Humanitarian Affairs Joyce Msuya, in the capital, Riyadh, the Saudi Press Agency reported.

During the meeting, they discussed a number of issues of common interest related to relief and humanitarian affairs.

Msuya praised the Kingdom’s effective and influential international humanitarian role, noting the efforts of KSrelief in alleviating the suffering of refugees and needy groups around the world.