T & M EVENTSCOM has been appointed as the conference organizer for the 27th General Arab Insurance Federation (GAIF) Conference that is taking place with the support of prime minister, Sheikh Khalifa ibn Salman Al-Khalifa in Bahrain from Feb. 26-28, 2008. The theme of the conference is “Toward a more integrated Arab insurance market.” An official signing ceremony took place between the officials of GAIF and T & M EVENTSCOM for organizing the biennial event, which is expected to draw over 1,000 delegates across the Arab insurance industry, in addition to international insurance professionals. Sameer Al-Wazzan, chairman of the GAIF steering committee, said: “Bahrain has the pleasure of hosting, once again, a conference which is integral to the region’s insurance industry as a whole. As a deep-rooted financial hub for the Middle East, Bahrain has increasingly become the centrifugal force behind the region’s insurance industry innovations.”
NCB
The National Commercial Bank (NCB) recently signed three contracts with several car dealers in the Kingdom to facilitate car purchases through AlAhli car leasing program. The agreements were signed with Haji Husein Alireza who will pay the first installment on behalf of the customer who wants to buy a Mercury or Mazda, Mohamed Yousuf Naghi who will provide Hyundai without any first installment and Zahid Tractor who will offer a Volvo or a Renault free of administrative charges, without first installment and with additional free service and maintenance. Yasser Kashkash, NCB’s lease lending head, said that the agreements would add greater value to the program, especially to customers seeking to buy cars for the first time, or second or third cars. A great advantage of the program is that it is Shariah-compliant and warranty is for the duration of the leasing period, which is up to five years.
SHAMIL BANK
Shamil Bank, a major Bahrain-based commercial and investment bank, on Tuesday announced the launch of the 100 percent capital protected Shamil Navigator Modaraba (Navigator or the Modaraba), an innovative, Shariah-compliant investment product that gives investors an exposure to the best returns achieved on a basket of global equities and commodities. The subscription is open for one month only, which closes on June 28. As a sign of confidence in the product, Shamil Bank will co-invest, from its own funds, an additional 10 percent of the total capital raised in the Class A investment pool at the close of the subscription period. The Navigator is a three-year structured product with 100 percent capital protection, which provides exposure to two profiles of diversified assets comprising global Islamic equities as well as commodities, Ahmad Tayara, head of investment banking at Shamil Bank said.
SAUDI READYMIX
Saudi Readymix, a manufacturer and supplier of ready-mixed concrete and related products in Saudi Arabia, has announced plans to equip its fleet of truck mixers and mobile pumps with an advanced GPS tracking system. The company will thus become the first ready-mixed concrete company in the Kingdom to integrate this technology in its operations allowing it to remotely track and manage its fleet more efficiently. Mohammed Abu Zaid, Saudi Readymix’s production and maintenance director, said: “Time is critical when it comes to the delivery process of ready-mixed concrete because as time passes the properties of fresh concrete change quickly causing it to become unusable within a few hours. Integrating GPS technology into our operations gives us greater control over this issue by allowing us to utilize our fleet in the most efficient manner possible.” The system will be installed in its entire mobile fleet.
IMPACT BBDO
Impact BBDO Jeddah, an advertising agency of the BBDO Worldwide Network, last week brought home two major awards won at the ninth international food and beverage creative excellence awards (FAB) held in London. Impact BBDO’s execution, called “Vitamins,” for Goody Honey was submitted in the press category under the baking and sweet foods classification for which it won the FAB gold award. It was also selected for the “FABulous Award” (Grand Prix) among all FAB winners in the press category, beating agencies from Europe, North America and Asia. The different classifications of FAB awards are retailers, confectionery and snacks, pet foods, savory foods, baking and sweet foods, health foods and dairy products. “We are extremely proud, as it is the first time any creative agency from the Middle East has scored that high in an international creative award forum” said Aboud Shami, group managing director of Impact BBDO, Saudi Arabia.
