Fintech PR
South Korea’s NIPA launches Korea IT Cooperation Centre UAE at Dubai Internet City to nurture globally impactful innovation
- Korea IT Cooperation Centre UAE, NIPA’s first hub in the Middle East, launched on sidelines of GITEX Global to nurture connections between Korean entrepreneurs and regional innovators
- Spanning more than 6,500 sq.ft., the centre at the region’s leading tech hub will unlock the goals of Dubai Economic Agenda ‘D33’ and the UAE-Korea CEPA deal
DUBAI, UAE, Oct. 17, 2024 /PRNewswire/ — The National IT Industry Promotion Agency (NIPA), backed by the Government of South Korea, has announced the launch of its Korea IT Cooperation Centre UAE (KICC UAE) regional office at Dubai Internet City on the sidelines of GITEX Global 2024, held at Dubai World Trade Centre on 14-18 October.
Reaffirming Dubai’s proposition as a globally vital business gateway, KICC UAE’s launch builds on the South Korean agency’s memorandum of understanding (MoU) agreed during the 2023 edition of GITEX Global with Dubai Internet City, the region’s leading technology hub. The launch in Dubai marks NIPA’s first centre in the Middle East and represents the sixth hub in its global network, which covers Silicon Valley, Singapore, India, Hanoi, and Ho Chi Minh City.
The regional office at Dubai Internet City, one of TECOM Group PJSC’s 10 sector-specific business districts in Dubai and the Knowledge Partner of GITEX Global 2024, will foster collaborative entrepreneurship and talent development initiatives by connecting Korean tech businesses and investors with regional innovators, inventors, and investors.
KICC UAE will assist Korean technology companies seeking expansion into the Middle East by establishing strategic relationships with key government entities and industry partners. The inauguration at Dubai Internet City was attended by Vice Minister Kang Do-hyun of the Korean Ministry of Science and ICT; Abdulla Belhoul, CEO of TECOM Group PJSC; and Ammar Al Malik, Executive Vice President of Commercial at TECOM Group PJSC and Managing Director of Dubai Internet City in the presence of senior officials and industry partners.
Commenting on the inauguration, Vice Minister Kang Do-hyun of the Korean Ministry of Science and ICT said: “The establishment of the first KICC centre in the Middle East, here in Dubai, UAE holds significant meaning. It stands as a concrete and impactful milestone in the digital sector, following the reaffirmation of bilateral cooperation during President Yoon Suk-yeol’s state visit to the UAE in January.”
Sung-Wook Hur, President of NIPA, said: “The launch of KICC UAE at Dubai Internet City marks a significant milestone in our commitment to fostering a thriving global innovation ecosystem. It will connect Korean entrepreneurs and enterprises with their UAE counterparts and leverage Dubai’s strategic location and thriving business environment. Our Dubai Internet City address will be a hub for innovators to collaborate on groundbreaking solutions with the potential to not only benefit the UAE and South Korea, but also make a lasting impact on the global stage.”
“Securing the global future will irrefutably require collaborative innovation given the pace of the tech industry’s evolution, and NIPA’s centre at Dubai Internet City is a window into a future shaped by such cooperation,” said Ammar Al Malik, Executive Vice President of Commercial at TECOM Group and Managing Director of Dubai Internet City. “KICC UAE underscores our district’s pivotal role as a platform for enterprises and entrepreneurs, ensuring talent development through new opportunities, partnerships, and markets. We welcome partners like KICC UAE in our endeavour to create a lasting impact through tech innovation and contribute to the global knowledge economy, as envisioned by the Dubai Economic Agenda ‘D33’.”
Spanning 6,535 sq.ft., the facility features seven private offices, 18 co-working spaces and meeting rooms, and a dedicated showroom to host around 100 employees and visitors, with a calendar of four key events planned during 2025. Seven resident companies, including Wrtn Technologies, DeepNoid, CoreMovement, Genians, Mobiltech, Weeds Korea, and Angelswing will be established at the KICC UAE, in addition to Esol Information & Communications and PineC&I, which will use the hub’s shared office spaces.
These companies are set to begin efforts to expand into the Middle Eastern market with KICC UAE, which will provide industry data and insights to facilitate the participation of Korean technology companies and professionals in the region through Dubai Internet City’s ecosystem.
Dubai Internet City’s cooperation with KICC UAE strengthens bilateral ties between the UAE and Korea, which in May 2024 signed a Comprehensive Economic Partnership Agreement (CEPA) to nurture constructive economic cooperation between both countries, building on their non-oil bilateral trade of AED 19.4 billion in 2023. The UAE-Korea CEPA contributes to the UAE’s vision to double its non-oil foreign trade to AED 4 trillion by 2031.
Dubai Internet City has led region’s digital transformation strategy for more than two decades, serving as a platform for more than 3,500 customers, including Fortune 500s and SMEs such as Google, 3M, Microsoft, and Careem, in addition to 29,000 of the world’s brightest tech professionals.
Dubai Internet City is part of TECOM Group’s portfolio of sector-specific business districts, which also includes Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Knowledge Park, Dubai International Academic City, Dubai Science Park, Dubai Industrial City, Dubai Outsource City, and Dubai Design District (d3).
About TECOM Group PJSC
TECOM Group has been developing strategic, sector-focused business districts across the emirate of Dubai since 1999. TECOM Group is well-positioned to continue playing an integral role in cementing Dubai’s status as a global business and talent hub.
The TECOM Group portfolio consists of 10 business districts catering to 6 vital knowledge-based economic sectors, including design, education, manufacturing, media, science, and technology. The Group provides a varied and tailor-made leasing portfolio – which includes offices, co-working spaces, warehouses, and land – to over 11,000 customers and more than 124,000 professionals.
TECOM Group offers additional value-added services to deliver a competitive and attractive environment for businesses and entrepreneurs to thrive in and to facilitate engagement between the districts’ community members. Government and corporate services are made available through an integrated smart services platform, “axs”, which enhances ease of doing business and provides community members with a seamless experience.
TECOM Group also provides industry specialised facilities, including media production studios, laboratories, and higher education campuses. in5, its enabling platform for entrepreneurs and start-ups, offers innovation centres supporting tech, media, and design start-ups and SMEs. Its future-focused co-working spaces D/Quarters deliver stimulating work environments for tenants, and the “Go Freelance” package serves freelance talents.
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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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