RIYADH: Bank fraud is low in the Kingdom compared to rising rates in other countries, Saudi Banks, the nation’s association of bankers, said on Thursday.
While money transfer fraud, ATM and online banking fraud have become a worldwide threat, prudent banking measures meant the country had one of the world’s least-registered rates of financial fraud, a Saudi Banks spokesman said.
Talat Zaki Hafiz, the secretary-general of the media and banking awareness committee for Saudi Banks, was speaking at the launch in Riyadh of the ninth public awareness campaign, “Mo_Alaina”, about the risks of financial and banking fraud.
“This campaign is basically aimed at educating the public about the techniques of banking fraud, how to deal with it and avoid it by being cautious while using an ATM or making online transactions,” he said.
“In doing this we are not trying to scare people, but just alerting them to banking fraud. We have had some cases reported in the Kingdom which we need to avoid, for example an unknown person asking to transfer money to an unidentified account saying he has no account.”
“If you take the number of total transactions taking place on a daily or a yearly basis, the number in the Kingdom is in the acceptable range, especially if you compare it to the global standard,” he said.
Hafiz said that financial fraud was on the rise and had become a costly burden to the world economy. In 2016, financial fraud cost companies around the world 5 percent of their annual revenue — $6.3 billion annually.
Ibrahim Saad Abu Muti, head of the banking information and awareness-raising team at Saudi Banks, said that this year’s campaign will deal with fake and unlicensed investments.
Saudi Arabia ‘has one of world’s lowest bank fraud rates’
Saudi Arabia ‘has one of world’s lowest bank fraud rates’
34th Saudi Build Exhibition opens in Riyadh
- Event features more than 600 exhibitors from 31 countries
- Show provides ‘insights into the future of the industry,’ exhibitor says
RIYADH: More than 600 companies from 31 countries are taking part in this year’s Saudi Build Exhibition, which opened on Monday in the Saudi capital.
The largest platform for the construction industry in the region, the event runs until Thursday at the Riyadh International Convention and Exhibition Center. It was officially opened by Deputy Minister of Municipalities and Housing Ehab Ghazi Al-Hashani, who visited several of exhibitors to see for himself some of the latest innovations in the sector.
Prince Saud bin Turki Al-Faisal, chairman of Riyadh Exhibitions Co. which organized the exhibition, thanked Al-Hashani for his support and said that this year’s show — its 34th edition — would contribute to the Kingdom’s ambitions to build a diverse and sustainable economy.
He also highlighted the latest techniques being used in the industry that align with the ministry’s strategy and wider objectives of Vision 2030.
The Saudi Build Exhibition was first held in 1981 and is now an annual event. It is the longest-running building and construction exhibition and summit in the region. This year’s show coincides with a high point in the Kingdom’s construction industry, including the development of major projects for Expo 2030.
Among the products and technologies on show are sustainable building materials, smart city solutions, energy-efficient building systems, the latest equipment and machinery, and water and waste management solutions.
Mohamed El-Toukhy of Al-Zamil Group, which is one of the exhibitors, told Arab News: “It is a big platform for us working in this sector and a good opportunity for networking as it provides a valuable platform for local and international companies to showcase their products and services, network with industry professionals and explore new business opportunities.
“It also offers a unique opportunity for visitors to learn about the latest trends and innovations in the construction sector and gain insights into the future of the industry.”
Saudi interior minister launches digital transformation project to boost Kingdom’s security capabilities
- Prince Abdulaziz visited the Special Forces Command for Security and Protection in Riyadh to oversee the progress of operations
RIYADH: A new digital transformation project aimed at advancing the Kingdom’s security capabilities was inaugurated on Monday by Saudi Minister of Interior Prince Abdulaziz bin Saud bin Nayef bin Abdulaziz.
Prince Abdulaziz visited the Special Forces Command for Security and Protection in Riyadh to oversee the progress of operations and launch the new initiative.
Commander of the Special Forces for Security and Protection Marine Maj. Gen. Mansour bin Nasser Al-Fayez presented an overview of the project, which involves the development of 12 administrative systems designed to streamline processes and improve operational efficiency, the Saudi Press Agency reported.
Command and control centers will be enhanced with artificial intelligence technologies to support strategic operations, SPA added.
Prince Abdulaziz was also briefed on the deployment of “smart patrols,” which are outfitted with the latest tracking and monitoring equipment, security documentation tools, and drones to enhance field operations.
These high-tech patrols aim to bolster the forces’ ability to respond rapidly and efficiently to various security needs.
Prince Abdulaziz was joined on the visit by several officials including his deputy Nasser bin Abdulaziz Al-Daoud and Maj. Gen. Shaya bin Salem Al-Wadani, director-general of the Saudi Border Guards.
Saudi Crown Prince congratulates Tunisian president on re-election, discusses relations
RIYADH: Saudi Crown Prince Mohammed bin Salman held a phone call with Tunisian President Kais Saied on Monday to discuss relations between the Kingdom of Saudi Arabia and the Tunisian Republic, focusing on enhancing cooperation across multiple sectors.
During the conversation, Prince Mohammed extended his congratulations to Saied on his recent re-election for a second term, reaffirming the Kingdom’s support and well-wishes for continued success.
President Saied won a resounding 90 percent of the vote in last month’s election, according to Tunisia’s electoral commission.
The two leaders reviewed opportunities to expand collaboration in areas that benefit both nations, underscoring the “strong and brotherly relationship between Saudi Arabia and Tunisia,” Saudi Press Agency reported.
Alliance Francaise opens new center at Jeddah’s Hayy Jameel
- Learning language ‘builds understanding,’ French ambassador to Kingdom says
- New facility joins others in Riyadh and Alkhobar
JEDDAH: Alliance Francaise, the international institute and cultural center for the French language, on Sunday celebrated the grand opening of its new branch in Hayy Jameel, Jeddah.
The event was attended by various personalities and diplomats and included speeches from French Ambassador to Saudi Arabia Patrick Maisonnave, French Consul General Mohammed Nehad, Art Jameel founder Fady Jameel and Alliance Francaise President Zahir Al-Monajed.
“Learning a language, especially in today’s world, demonstrates a genuine curiosity and openness to other cultures. It fosters dialogue, builds understanding and ultimately contributes to a more peaceful global dynamic,” Maisonnave told Arab News.
“Through centers like Alliance Francaise, we can create partnerships beyond language such as in business, art and beyond to show the world that the French language is both accessible and enriching.”
Maisonnave said Alliance Francaise now operated in more than 150 countries and that its goal was to foster interest in the French language as a cultural bridge to connect societies.
Jameel said: “We are delighted that Alliance Francaise is joining Hayy Jameel to make a significant contribution to the cultural community here. In recent years, we have witnessed and proudly supported the growth of Saudi-French cultural ties.
“Our French partners have been instrumental in enhancing the Saudi art scene in the Kingdom and we look forward to further developing this relationship.”
Nehad said: “We chose Hayy Jameel as our new home because it’s a vibrant and cultural hub, which makes it an ideal place to reach more Saudi students and expand our activities.
“Our mission here in Jeddah is, first and foremost, to teach French to both Saudi and international students and to foster a creative atmosphere with activities in art, cinema and drawing.”
He described Alliance Francaise as “our cultural partner” and said several new initiatives were being considered, including a 48-hour film challenge and collaborative digital art projects.
“As the cooler season approaches, we view this as an ideal opportunity to roll out a variety of creative activities, from cinema and music to collaborations with French artists in Saudi Arabia,” he said.
Larry Lamartiniere, managing director of the Jeddah branch of Alliance Francaise said: “This is not just a language center, we aim to ensure that culture plays a significant role in our promotion of the French language. Relocating to Hayy Jameel was an ideal decision.”
The new location would allow the organization to screen French films at the independent Hayy Cinema and engage in art and culinary collaborations, he said.
Lamartiniere also noted the center’s close ties with the French Embassy and Consulate.
“Every cultural initiative organized by the officials includes Alliance Francaise as a partner,” he said.
The center currently has about 80 students per session and offers classes for various ages and proficiency levels, as well as weekly cultural workshops, storytelling and craft projects for children.
Lamartiniere said that a new session of classes would start later this month covering language, digital art, music and painting.
“Now that many people are fluent in English, they’re turning their curiosity to other languages. French remains one of the top languages globally and many Saudis want to learn it before traveling to France,” he said.
Treasure trove unveiled at Jewels of the World in Riyadh
- The event will run until Nov. 6, and features brands showing watches, necklaces, rings, earrings, as well as a range of pieces incorporating diamond, gold, and silver
RIYADH: Everything that glitters could be gold at the Jewels of the World exhibition in Riyadh, where top local and international jewelry designers are displaying their latest pieces to entice the region’s clientele.
The event, inaugurated by Karim Al-Anzi, president of the National Committee for Precious Metals and Gemstones, will run until Nov. 6, and features brands showing watches, necklaces, rings, earrings, as well as a range of pieces incorporating diamond, gold, and silver.
The opening night drew crowds of jewelry enthusiasts eager to meet top designers and trendsetters in the industry.
The Jewels of the World is an exclusive boutique event “celebrating the elegant craftmanship of these distinctive pieces,” according to Nader Freiha, the organizer of the exhibition.
Saudi Arabia is making major strides toward solidifying its status as a global hub for many industries by hosting various events, he told Arab News.
The exhibition “gathers prominent talent from around the world to showcase their creativity and amazing designs,” he added.
“We are excited to celebrate our 10th jewelry and watches exhibition in the Kingdom, having started this journey in 2016,” Freiha said. “To mark this special occasion, we’ve created 10 unique AI-generated paintings, each reflecting one of the past editions we’ve held. You can view all 10 paintings on display as we commemorate this milestone.”
One of the exhibition highlights is designer Karen Suen’s display featuring a necklace crafted with about 80 carats of emeralds and diamonds.
The Jewels of the World exhibition features more than 60 jewelry brands from around the world whose collections reflect various styles, from contemporary to one-of-a-kind designs. With their diamond, gold and other precious gemstones, the intricate and innovative craftmanship on display is captivating guests.
Atef Nsouli, chairman of Nsouli Jewelry, noted a significant upward trend in jewelry design, with both local and regional markets showing great promise. He said that the Saudi community has a sophisticated taste for jewelry and diamonds, actively seeking the best pieces while keenly following the latest fashion trends and high-quality craftsmanship.
Nsouli expressed optimism about the sector’s future, emphasizing that quality lies at the forefront of competitiveness among manufacturers and retailers.
Rashid Al-Emadi, executive director of Qatar’s Blue Diamond Group, commented on the continuous evolution of the jewelry sector within the Qatari group to meet the needs of connoisseurs in the Gulf country and the region.
He said people in GCC countries have developed a deep understanding of jewelry, including its types and the precision involved in its production, adding that the regional audience has a refined sense of style and knows exactly what to wear for any occasion.
Al-Emadi also noted that the Saudi market is experiencing intense competition, particularly when it comes to innovative design.
