G20 financial inclusion meeting explores technology to bridge gap

Saudi Arabia will host the G20 summit in November.
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Updated 27 January 2020
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G20 financial inclusion meeting explores technology to bridge gap

  • The G20 GPFI seminar was a one-day event that brought together speakers and attendees from G20 members and non-G20 countries

RIYADH: Financial inclusion and its potential for unlocking economic opportunities and enabling development was on the agenda for a G20 meeting held recently in Riyadh.

According to The Global Findex Database 2017, there are about 1.7 billion unbanked adults worldwide. Those excluded from financial services are disproportionately young people and women. In addition, the SME financing gap is estimated to be $4.5 trillion.
The first G20 Global Partnership for Financial Inclusion (GPFI) meeting was preceded by a seminar on the same subject.
There remain challenges in the field of financial inclusion despite significant progress over the past decade, according to a press statement about the meeting. The G20 GPFI is exploring how technological advancements can help bridge the gap in the number of young people and women with no access to banking services.
The G20 GPFI seminar was a one-day event that brought together speakers and attendees from G20 members and non-G20 countries, international organizations, nongovernmental organizations, multilateral development banks, standard-setting bodies, as well as regional and international regulators, and private sector stakeholders.

FASTFACT

According to The Global Findex Database 2017, there are about 1.7 billion unbanked adults worldwide. Those excluded from financial services are disproportionately young people and women. In addition, the SME financing gap is estimated to be $4.5 trillion.

In his opening remarks the Saudi co-chair of the G20 GPFI, Haitham Al-Ghulaiga, said: “The focus in 2020 will be to harness digital and innovative technologies to advance financial inclusion of youth, women and SMEs to unleash their full potential and contribution to economic growth in both advanced and emerging markets.”
Following the seminar, the Saudi G20 presidency presented its priorities and work program for the GPFI meeting, which focused on three areas: Advancing digital financial inclusion of youth, empowering women through digital financial inclusion, and promoting digital and innovative SME financing.
Saudi Arabia will host the G20 summit in November.


Muslim World League chief meets Pope Francis in Vatican City

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Muslim World League chief meets Pope Francis in Vatican City

  • During his visit to Italy, Al-Issa received an honorary fellowship in post-doctoral law studies from the University of Bologna

RIYADH: Dr. Mohammed bin Abdulkarim Al-Issa, secretary-general of the Muslim World League, met Pope Francis, the leader of the Catholic Church, in the Vatican to discuss mutual cooperation and shared interests.

During his visit to Italy, Al-Issa received an honorary fellowship in post-doctoral law studies from the University of Bologna.

The ceremony was attended by the university’s president, the law faculty’s dean, academics, and religious leaders from both Islamic and Catholic communities.

The honor recognized Al-Issa’s efforts in advancing the goals of the UN Charter, promoting peace, reducing cultural tensions, and fostering mutual understanding and collaboration among communities.

The MWL chief emphasized that the reasons for awarding him the post-doctoral fellowship in law from one of the most prestigious Western universities “reflect our Islamic values, which we must clarify to everyone.”

As part of his visit, Al-Issa launched the Islamic Studies and Arabic Language Award at the Catholic University of Milan.

The event was attended by high-level Vatican officials, marking the launch of a groundbreaking initiative to promote the teaching of the Arabic language and Islamic studies in Europe.

Islamic leaders described the award as a long-awaited step on an influential platform within Christian communities. The award includes categories that clarify Islamic concepts and promote the beauty and importance of the Arabic language.


Saudi wildlife center releases 66 endangered animals in King Khalid Royal Reserve

Updated 5 min 30 sec ago
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Saudi wildlife center releases 66 endangered animals in King Khalid Royal Reserve

  • 40 rhim gazelles, 10 Arabian oryx, 10 houbara bustards and 6 idmi gazelles released as part of wider initiative to enhance biodiversity and restore ecological balance
  • Solar-powered tracking devices fitted to some of the animals to monitor patterns of movement, behaviors and how they adapt to their environment 

RIYADH: The National Center for Wildlife has released 66 endangered native animals into the King Khalid Royal Reserve in Al-Thumamah region of northeastern Riyadh.

Forty rhim gazelles, 10 Arabian oryx, 10 houbara bustards and six idmi gazelles were released as part of a wider ongoing initiative, in partnership with the Imam Abdulaziz bin Mohammed Royal Reserve Development Authority, that aims to enhance biodiversity, restore ecological balance, promote sustainability, and support eco-tourism in the reserve, the Saudi Press Agency reported.

“This release is a significant step toward maintaining ecological systems and promoting biodiversity,” said Mohammed Qurban, the CEO of the wildlife center.

The stated aim of organization is to become a global leader in wildlife protection, by focusing on breeding endangered species and reintroducing them into natural ecosystems in line with international conservation standards.

Qurban said the center is dedicated to conducting research on endangered species and monitoring biodiversity in protected areas using advanced technologies that track animal populations and collect data that is critical in efforts to address conservation challenges and opportunities.

Talal Al-Harigi, CEO of the development authority, said solar-powered tracking devices have been fitted to some of the released animals. These will enable researchers to monitor them via satellite to gain valuable insights into their patterns of movement, behaviors and how they adapt to their environment.

The initiative also helps to support efforts to restore ecological balance and increase vegetation cover in the reserve, which essential to help species adapt to natural habitats, he added.


City governor launches $160m first phase of Madinah Gate project

Updated 41 min 41 sec ago
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City governor launches $160m first phase of Madinah Gate project

  • Development will comprise apartments, hotel, retail units, bus station

MADINAH: Madinah governor Prince Salman bin Sultan bin Abdulaziz on Monday launched the $160 million first phase of the Madinah Gate project.

The mixed-use development will comprise a 325-bedroom DoubleTree by Hilton hotel, 80 shops, 44 restaurants, apartments, recreational facilities and a bus station, the Saudi Press Agency reported.

It will also have a direct connection to the Haramain High-Speed Railway, which links Madinah with Makkah.

Madinah Gate — the first two phases of which will span 37,000 sq. meters — is being developed as a collaboration between Saudi Arabia Railways and developer Knowledge Economic City Co., with support from the city’s authorities.

Amin Shaker, chairman of the development company, said the project — its first in southern Madinah — would help strengthen the city’s status as a global visitor destination.


New partnership set to drive Kingdom’s architecture industry

Updated 23 December 2024
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New partnership set to drive Kingdom’s architecture industry

  • Deal will help promote local talent, foster innovation

RIYADH: The Architecture and Design Commission has signed a strategic partnership with contracting firm Nesma & Partners to promote the Kingdom’s architecture and design industry.

The commission’s CEO Sumayah Al-Solaiman and Nesma’s Managing Director Rami Al-Turki on Monday signed a memorandum of understanding to establish a framework for collaboration in professional development and industry innovation.

The partnership aims to prepare a new generation of Saudi professionals to compete on the world stage and reinforce the Kingdom’s position as a regional hub for architecture and design excellence.

“The initiative aims to empower architects and designers to develop their skills and enhance their capabilities, creating an environment that nurtures Saudi talent while fostering innovation and creativity in the sector,” Al-Solaiman said.

It would also help to advance the commission’s mission to forge strategic alliances with industry leaders, she said.

Under the deal, the two sides will cooperate in areas such as industry best practice, knowledge exchange and professional workshops. It will also involve the joint sponsorship of competitions, awards and conferences.

“As a leading Saudi contractor, we are committed to providing training and creating employment opportunities for Saudi architects,” Al-Turki said.

“Our strategic partnership with the commission reflects our values of innovation, excellence and social responsibility.”

The initiative aligns with Saudi Vision 2030’s goals for sector development, focusing on building a sustainable ecosystem for architecture and design professionals.

The commission emphasized its commitment to advancing scientific research and creating an integrated environment that supports the sector’s creative community.


Kuwait’s deputy prime minister visits Saudi National Cybersecurity Authority

Updated 23 December 2024
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Kuwait’s deputy prime minister visits Saudi National Cybersecurity Authority

  • Visit focused on enhancing cooperation between Kingdom and Kuwait in cybersecurity sector

RIYADH: Kuwait’s deputy prime minister visited the National Cybersecurity Authority headquarters in Riyadh on Monday, accompanied by an official delegation, the Saudi Press Agency reported.

Sheikh Fahd bin Yousef Saud Al-Sabah, who is also Minister of Defense and Minister of Interior, was received by Musaed bin Mohammed Al-Aiban, Minister of State, Member of the Council of Ministers, and Chairman of the NCA Board of Directors.

The visit focused on enhancing cooperation between Saudi Arabia and Kuwait in the field of cybersecurity.

Discussions centered on strengthening measures to safeguard cyberspace and protect the vital interests of both nations, SPA added.