Fintech PR
Economic Cities and Special Zones Authority Makes Milestone Transport and Logistics Announcements at the Global Logistics Forum
- New Eligibility Criteria Certificates for Tharawat Alqata Industries Company and Automotive Solution Company for Logistic Services (MASARAT Mobility Park) to operate in KAEC Special Economic Zone demonstrate growth in the automotive and logistics clusters.
- Major agreement sealed with Saudi Post (SPL) that will enhance logistics services within Special Economic Zones and create benefits for businesses investing.
RIYADH, Saudi Arabia, Oct. 14, 2024 /PRNewswire/ — The Economic Cities and Special Zones Authority (ECZA) today revealed three significant announcements to coincide with the inaugural Global Logistics Forum (GLF).
Reshaping the global map of logistics, GLF marked a key moment for ECZA to award two new Eligibility Criteria Certificates, along with the confirmation of a partnership with Saudi Post (SPL) that will enhance logistics services for investors across Saudi Arabia’s Special Economic Zones (SEZs).
The Eligibility Criteria Certificates, which have been issued to Tharawat Alqata Industries Company and to Automotive Solution Company for Logistic Services (MASARAT Mobility Park) will see both companies set up facilities in King Abdullah Economic City Special Economic Zone (KAEC SEZ).
These certificates, and the investment they will enable, demonstrate the continued growth of the automotive cluster in KAEC SEZ. Investors in the cluster, a priority growth sector for ECZA and Saudi Arabia, include leading automotive brands such as Lucid, Ceer, Hyundai and Pirelli. It is expected that these keystone automotive businesses will contribute at least US$8 billion annually to Saudi Arabia’s GDP by 2034, creating thousands of jobs in the process.
ECZA’s new partnership with SPL is the first of multiple strategic partnerships ECZA has sealed with other public sector entities in Saudi Arabia. The partnership with SPL will lead to the development of a new addressing system that will ease the conduct of business for investors within SEZs. Additionally, the partnership will lead to the creation of bespoke incentives for businesses in SEZs.
Commenting on these major announcements, ECZA Secretary General, Nabil Khojah, said: “Since the launch of the four new Special Economic Zones in 2023, ECZA has been working tirelessly to secure new investment into the zones and to more closely integrate with our government partners.
“The announcements ECZA has made here at the Global Logistics Forum are demonstrations of the business and cluster transformation ECZA is accelerating. These two new Eligibility Criteria Certificates will bring investment into KAEC SEZ’s automotive cluster, a priority sector for ECZA and the Kingdom.
“The partnership between Saudi Post and ECZA will enhance logistics operations within SEZs, streamlining services and enhancing the already attractive proposition for investors looking to do business in Saudi Arabia’s SEZs.”
Saudi Arabia’s SEZs, which were launched in 2023, are strategically located, with KAEC SEZ and Jazan SEZ along the Red Sea, and Ras Al-Khair SEZ on the Arabian Gulf, acting as a unique gateway between three continents. This allows companies to set up operational bases across different SEZs in the Kingdom, facilitating resilient supply chains and access to new markets.
ECZA continues to work to grow foreign investment into the SEZs, contributing to the creation of A Thriving Economy, a key pillar of Saudi Vision 2030.
View original content:https://www.prnewswire.co.uk/news-releases/economic-cities-and-special-zones-authority-makes-milestone-transport-and-logistics-announcements-at-the-global-logistics-forum-302275596.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
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
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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
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
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
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/
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View original content:https://www.prnewswire.co.uk/news-releases/qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech-wahed-302314778.html
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.
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View original content:https://www.prnewswire.co.uk/news-releases/chinas-aima-brand-electric-motorbike-is-now-in-bangladesh-302314773.html
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