Fintech PR

Colombia leaded several topics at the WTO Ministerial Conference in Abu Dhabi

Published

9 months ago

March 8, 2024

MADRID, March 8, 2024 /PRNewswire/ — At the World Trade Organization’s Thirteenth Ministerial Conference Colombia was a part of several highly relevant deliberations.

For example, the country played a key role in securing the extension of the moratorium preventing the “Non-Violation and Situation Complaints” under the Agreement on Trade-Related Aspects of Intellectual Property Rights, which was extended until the next Ministerial Conference in 2026.

This extension means that none of the WTO’s 164 member countries can make complaints against those who uphold measures defending their citizens’ wellbeing in terms of rights granted in the field of intellectual property, even if it reduces benefits for the complaining country.

Minister of Trade, Industry, and Tourism Germán Umaña Mendoza was in charge of making this request. Minister Umaña Mendoza said that “although the results of the Ministerial Conference are bittersweet and highlight current challenges related to multilateralism, this extension of the moratorium is an important step forward.”

Likewise, Colombia led the declaration issued by 69 developing countries that expressed inconformity regarding the TRIPS Agreement on intellectual property, which was not reviewed in this Ministerial Conference in order to make concessions in favor of human health, life, and biodiversity and not examined in relation to the Convention on Biological Diversity and the protection of traditional knowledge and folklore.

Minister Umaña Mendoza expressed his inconformity because the topic of the environment was only tangentially addressed at the Ministerial Conference. Therefore, Colombia and several other countries signed a declaration calling on WTO members to have greater transparency with respect to environmental measures.

As for the Declaration of Ministers—and in response to the lack of consensus to include the possibility of suspending the application and implementation of intellectual property rights for medicines, vaccines, and health technologies—Colombia and other countries requested the inclusion of a section regarding the response to future pandemics, which was granted.

As a result, this urges the WTO to review and take advantage of all the lessons learned and the challenges experienced during the COVID-19 pandemic in order to employ effective and rapid solutions in the event of future pandemics.

While highlighting the aforementioned agreements, Minister Umaña reiterated that the progress made during the 13th Ministerial Conference was not ideal, because other issues relevant to global trade were postponed until the 2026 Ministerial Conference.

As for industrial policies (including subsidies), there was no ministerial consensus to begin reviewing them at the global level, despite Colombia and other countries’ great interest in this topic. This is due to the WTO’s narrow definition of subsidies, which currently limits discussions on the new forms of market distortion that we are witnessing.

In the end, the Minister pointed out, “We managed to reach a consensus regarding some points of interest for Colombia, while other important points were postponed to the 2026 Ministerial Conference. However, at the multilateral level, the reality is that results are more negative than positive, urging a more in-depth review of the WTO’s structure and content.”

View original content:https://www.prnewswire.co.uk/news-releases/colombia-leaded-several-topics-at-the-wto-ministerial-conference-in-abu-dhabi-302084068.html

Fintech PR

Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region

Published

1 hour ago

November 24, 2024

CISION (PR Newswire)

wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.

On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”

Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.

His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.

As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.

Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

Photo – https://mma.prnewswire.com/media/2566076/Wahed_MENA_Khalid_Al_Jassim.jpg

View original content:https://www.prnewswire.co.uk/news-releases/wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region-302314779.html

Fintech PR

Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed

Published

1 hour ago

November 24, 2024

CISION (PR Newswire)

qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech,-wahed

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.

Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.

Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.

Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”

About Wahed

For more information, visit: www.wahed.com

About Qatar Development Bank

Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.

For more information, visit: https://www.qdb.qa/

Photo – https://mma.prnewswire.com/media/2566075/Qatar_Development_Bank_Announcement.jpg

View original content:https://www.prnewswire.co.uk/news-releases/qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech-wahed-302314778.html

Fintech PR

China’s AIMA brand electric motorbike is now in Bangladesh

Published

14 hours ago

November 23, 2024

CISION (PR Newswire)

DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.

In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.

Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.

AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.