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damana.com/saicohealth DAMANA is a registered trademark for Saudi Arabian Insurance Company B.S.C. (c) CONTENTS

February 2021

COVER INTERVIEW ENERGY 32|Brazil Electricity Pricing Reform Creates New Opportunities for 11 | Driving Excellence through GCC Investors Agility INSURANCE 34 |Healthcare and Life Sciences Deal Activity Will Be Robust MANAGEMENT AND FINANCE in 2021 36 |GlobeMed Egypt Announces 22 | The Race For A COVID-19 New Cancer Bulletin Vaccine 38 | Alaa Al-Zuhairi wins the 24 | Signing of MoU Between Insurance Man Award for ICD and SQB Securities, 2021 in the Middle East and Uzbekistan North Africa

26 | Doha Bank Announces 40 | A workshop on Micro- the Launch of Doha Bank Insurance in Cooperation with Easy Pay Wallet Interview: Naji Moukadam, Managing Director and CEO at the Micro-Insurance Network Lyst Technologies 42 | Social Responsibility and the Role of the Insurance and Reinsurance Industry in Supporting the Goals of Social Responsibility to Achieve Sustainable Development

46 | Change in Guard at SALAMA Signals New Growth Plans

48|SALAMA Wins ‘Takaful Specialist of the Year’ Award 2021 MAIN STORY

50 | What Does The Future Hold Ghosts town: A street is empty of cars during a lockdown aimed at For Kuwait Infrastructure curbing the spread of the coronavirus, in Beirut Sector? INFORMATION INDUSTRY 58 |China’s Automotive Industry Intensifies Electrification Efforts, Sustainability a Key Focus

ICD helps private sector businesses to finance projects 30 | News From Around The by providing a wide range of Sharia compliant services World 54 | Middle East Markets QUICK NEWS 56 | First Look on Lebanon 8 | Middle East Scan 60 | Middle East Event 28 | Market Brief Calendar 62 | What’s New? The Insurance Man Award for 2021: Alaa Al-Zuhairi wins the Insurance Man Award for 2021 in the Middle East and North Africa

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4 w BUSINESS LIFE FEBRUARY 2021 BUSINESS LIFE FEBRUARY 2021 w 5 EDITORIAL Show Me the Vaccines Publisher and Editor in Chief Afaf Issa Covid-fighting vaccines are in circulation but are in Responsible Manager short supply Afaf Issa

Contributors Mona Sahli Marwan Hakim

Photographer Raji K.

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On the web: www.businesslife.net The US gets ready: Navy Seaman Milan Torres, a hospitalman, prepares a dose of the COVID-19 vaccine to be administered to a patient, Walter Reed National Military Medical Center, Bethesda, Md., Dec. 14, 2020. (DoD photo by Lisa Ferdinando)

hile the New Year brought From 1918 to 1920, the Spanish flu took with it hopes for an end to the lives of up to 100 million people. That the global pandemic, it is now number pales in comparison to the second W increasingly clear that having plague that took the lives of twice as many vaccines approved does not equate to having people. Clearly time makes us forget the vaccines administered to those who need it importance of being prepared for global most. Most of the world is on the same boat pandemics. Covid-19 has already taken the for now, from the most advanced economies lives of more than 2 million people and the to the poorest nations. Rolling out a vaccina- number is still rising. Will we be ready the tion program is by no means a small feat. next time around? I hate to be a cynic but However, if the richest countries are having most governments react to public demands trouble getting their populations vaccinated rather than anticipate them. Pandemic it leaves less developed countries feeling readiness, at least as far as governments are helpless. To make things worse, the virus concerned, is seldom a top priority. Vaccine is showing no signs of letting go and quite companies have done a fantastic job in re- to the contrary, it appears to be mutating cord time but nearly all governments, with and turning into an even more deadly foe. the exception of New Zealand, have failed. Even richer, oil rich, countries are hav- Even New Zealand’s successes in fighting ing a hard time competing for a limited the contagion came at the expense of the resource – one that saves lives. We almost economy. We need to stop losing. forgot the frailty of our existence as, many of us, indulged in cheap calories and cheap technologies. We are able to get smart Afaf Issa (Malak Issa) Please recycle this magazine phones in the hands of nearly everyone on Editor in Chief, earth but we have not given much atten- tion to our readiness for global pandemics.

6 w BUSINESS LIFE FEBRUARY 2021 BUSINESS LIFE FEBRUARY 2021 w 7 LETTERS

www.businesslife.net Agreement COVID 19 Jordanian Insurance Vaccines save millions of lives each year. The entire residents of this globe are at Between ICD and Cost Burden Federation: Cybersecurity Xalq Bank in MENA and its Importance Vaccines work by training and preparing high risk. We can say truly that life is for the the body’s natural defences --- the immune fittest nowadys. system--- to recognize and fight off the vi- ruses and bacteria they target. If the body is Fouad Boubez January 2021 exposed to those disease-causing germs later, Jeddah, Saudi Arabia Most Famous the body is immediately ready to destroy them, preventing illness. Priority of giving COVID-19 vaccines, to Artist Couple in There are currently more than 50 health workers who are at high risk of ex- the Middle East COVID-19 vaccine candidates in trials. posure and also the older people should be Focusing on a Lebanese couple, two artists: Lena WHO is working in collaboration with sci- prioritized for vaccination. Kelekian and Hagop Sulahian, whose works entists, business, and global health organiza- But the ideal solution is to offer vaccine comprise a plethora of multidisciplinary tions through the ACT Accelerator to speed to the entire human beings if possible. creativity through all facets of art up the pandemic response. When a safe and effective vaccine is found, COVAX (led by Henriette Fouad WHO, GAVI and CEPI) will facilitate the Kuwait, Kuwait equitable access and distribution of these vaccines to protect people in all countries. LETTERS People most at risk will be prioritized. While we work towards rolling out a safe and ef- Please send your e-mails to: Lebanon...... LBP5,000 U.A.E...... Drhm12 Jordan...... JD2 Egypt...... EP5 Algeria...... DZD200 Tunisia...... TND4 Saudi Arabia...... SR12 Bahrain...... BD1 Oman...... OR1 Europe...... Euro4 Libya...... L.D4 Yemen...... YR10 Kuwait...... KD1 Qatar...... QR12 Cyprus...... C£1 U.S. & Canada...... $4 Morocco...... MAD33 Syria...... SYP150 fective vaccine fairly, we must continue the [email protected] Last issue’s main story: essential public health actions to suppress Please include your name, address, Turning Hope Into Reality transmission and reduce mortality. and phone number. Letters may be edited for clarity and space. Salwa Akil PAUSE The world is in the midst of a COVID-19 Beirut, Lebanon pandemic. As WHO and partners work To include an image in the ‘Pause’ sec- together on the response -- tracking the Lebanon and the world should ensure tion, send an e-mail to: pandemic, advising on critical interven- that the infrastructure is in place, and the [email protected] and ask for more tions, distributing vital medical supplies to technical support available, to make sure information. If your image is chosen, those in need--- they are racing to develop COVID-19 vaccines can be safely delivered you will be awarded US$50, and a one and deploy safe and effective vaccines. to all those who need them. year subscription.

PAUSE President Michel Aoun attends the Supreme Defense Council extraordinary meeting

8 w BUSINESS LIFE FEBRUARY 2021 BUSINESS LIFE FEBRUARY 2021 w 9 MIDDLE EAST SCAN Algeria Near Eastern Affairs arrived afternoon in saw Riyadh, the United Arab Emirates, The preliminary draft or- Dakhla, the second stop on a tour in the Bahrain and Egypt imposed an embargo ganic law on elections, the Moroccan Sahara after Laayoune. on Doha over allegations that it supports first draft of which was final- The visit to Dakhla of this high-level terrorism and is cosying up to foe Iran. Qa- ized and distributed to politi- US delegation is the result of the tel- tar denies the charges and says the boycott cal parties for enrichment, ephone conversation held, on December aimed at curtailing its sovereignty. sets the rules for financing 10, 2020, between HM King Mohammed A UAE official this week said travel and monitoring electoral VI and US President Donald Trump who and trade links could resume within a and referendum campaigns, had announced the signing of a proclama- week of the deal, but restoring diplomatic including the prohibition for K A Z A K H S T A N tion, with all that this act entails as an ties requires more time as parties work to any candidate to receive cash undeniable legal and political force and rebuild trust. or in-kind donations from a GEORGIA UZBEKISTAN with immediate effect, on the decision of So far no flights have resumed be- · foreign state. ARMENIA AZERBAIJAN KYRGYZSTAN the United States of America to recognize, tween Qatar and the four Arab states. TURKMENISTAN T U R K E Y TAJIKISTAN for the first time in its history, the full sov- Qatar Airways began re-routing some of ereignty of the Kingdom of Morocco over its flights through Saudi airspace. Bahrain TUNISIA CYPRUS SYRIA LEBANON Capital Governor Shaikh IRAQ AFGHANISTAN the entire region of the Moroccan Sahara. PALESTINE I R A N Hesham bin Abdulrahman MOROCCO JORDAN In this regard, and as the first concrete Saudi Arabia - KUWAIT Al Khalifa paid tribute to A L G E R I A PAKISTAN expression of its sovereign initiative of Saudi Arabia’s Minister of Foreign Af- L I B Y A BAHRAIN His Majesty King Hamad Western E G Y P T great importance, the United States of fairs Prince Faisal bin Farhan discussed Sahara SAUDI QATAR bin Isa Al-Khalifa, hailing ARABIA U.A.E. America has decided to open a consulate the ongoing Palestinian conflict and the royal directives to provide OMAN in Dakhla, with a primarily economic Iranian regime’s interference in regional free COVID-19 vaccine to all MAURITANIA vocation, to encourage U.S. investments affairs with his Jordanian counterpart at citizens and resident in order YEMEN and contribution to economic and social a meeting in Riyadh. --- Al-Arabiya to protect people’s health development, mainly for the benefit of S U D A N DJIBOUTI and safety. the inhabitants of the southern prov- Tunis inces.—MAP United Nations Resident Coordinator Egypt SOMALIA to Tunisia Arnaud Peral pointed out, as Egyptian President Abdel Oman he visited the Tunis Afrique Press (TAP) Fattah al-Sisi stressed the im- Oman’s Sultan Haitham will be succeeded news agency seat, on the importance of portance of protecting Arab by his eldest son Dhi Yazan, according to the strategic partnership between the security and taking a unified a new basic law published that creates a UN organisations system and the media stance in tackling all issues. new position of crown prince and estab- to “better communicate the main themes He made the statement as lishes succession from ruler to the eldest and activities achieved by the UN in he received Arab Parliament son. Sultan Haitham bin Tariq al-Said had Tunisia.” Speaker Adel Al Asoomi in announced plans for the constitutional the presence of Egyptian Par- change, a year after the death of his pre- United Arab Emirates liament’s Speaker Dr. Hanafi Ali Jebali share, he said in a statement. administrative side, to enhance the level Italian Premier Giuseppe Conte Said Ita- decessor, Sultan Qaboos. The new basic The UAE will reopen its land, sea and air and Foreign Minister Sameh Shukry. The minister added that Iraq has no in- of public services. ly’s Strategy Has Always Been Consisting law was published in the official gazette. borders with Qatar as of January 9, 2021, President al-Sisi reiterated Egypt’s tention to negotiate with OPEC+ members With Italian Interests Of Supporting Sta- Qaboos, who took power by over- the Ministry of Foreign Affairs and Inter- support to the Arab Parliament, stressing regarding its oil production share or com- Kuwait bility In The Mediterranean, In Addition throwing his father, named his cousin national Cooperation announced. its pivotal role in maintaining stability pensation of overproduction. --- Reuters Kuwait’s emir has accepted the resigna- To Giving A Special Attention To Finding Haitham as his preferred successor in a According to Khalid Abdullah Bel- and promoting the vital interests of the tion of Prime Minister Sheikh Sabah A Political Solution In Libya With Total sealed envelope to be opened after his houl, Undersecretary of the Ministry of Arab nation. Jordan al-Khalid al-Sabah and his cabinet, state Respect Of Its National Sovereignty, ac- death should the royal family disagree on Foreign Affairs and International Coop- His Majesty King Abdullah stressed the news agency KUNA said lately. cording to the Italian Nova news agency. the succession line. eration, the UAE will end all measures Iran importance of bolstering cooperation Sheikh Sabah’s cabinet will continue in The family went with his choice. The taken against Qatar as per the statement The U.S. killing of top general Qassem between the legislative and executive a caretaker capacity until the formation of Morocco new law also retains an elected advisory issued on June 5, 2017, following the sign- Iran’s President Hassan Rouhani urged branches, noting Parliament’s important a new government, KUNA said. -----Reuters A high-level US delegation, led by Assis- Shura Council, the lower house of parlia- ing of the “AlUla Declaration”. US President-elect Joe Biden to return legislative and oversight role. tant Secretary of State for Near Eastern Af- ment.—Reuters to the 2015 nuclear deal and lift crip- At a meeting with the Senate presi- Lebanon fairs David Schenker, visited the premises Yemen pling sanctions on the Islamic Republic. dent, the speaker of the House of Repre- “A flexible and fast formula is required of the future Consulate General of the Qatar Yemen’s Iran-backed Huthis condemned “The ball is in the U.S. court now. If sentatives, and members of the two Cham- between Lebanon’s Central Bank and United States in Dakhla. Qatari vehicles crossed into Saudi Arabia the United States’ move to brand the Washington returns to Iran’s 2015 nuclear bers’ permanent offices, King Abdullah pharmaceutical & medical supplies’ The US delegation, accompanied through a land border for the first time rebels as a terrorist organisation and deal, we will also fully respect our com- stressed the importance of Parliament’s companies related to Corona patients, as by minister of Foreign Affairs, African since Arab states severed diplomatic and said they reserved the right to respond. mitments under the pact,” Rouhani said Code of Conduct in enhancing public it is not permissible for the families of the Cooperation and Moroccans Abroad, transport ties with Doha in mid-2017, “These policies represent a crisis in in a televised cabinet meeting. trust in the legislative authority, noting infected to continue suffering in secur- Nasser Bourita, and the US ambassador to Saudi state TV said, following a deal this thinking and are to be condemned, and we “U.S. President Donald Trump’s politi- that a number of draft laws require Par- ing the needs of their patients in light of Morocco, David Fischer, toured the vari- week to restore relations. have the right to respond,” Huthi political cal career is over today and his ‘maximum liament’s attention, in line with current the shocking imbalance in the market, ous offices of this future US diplomatic “It’s good the crisis has been resolved, commander Mohamed Ali al-Huthi said pressure’ policy on Iran has completely national priorities. between the increasing demand and the representation. and the warm welcome we had, and the in a tweet. failed,” Rouhani added. ----Reuters His Majesty stressed Parliament’s slow import pace... During this visit, the Wali of the happiness we see in our brothers,” the “The Yemeni people don’t care about important role in building on the state’s We are in an emergency health situ- Dakhla-Oued Eddahab region, governor driver of the second car to pass through any designation from (US President Iraq achievements, as it begins its second ation!” tweeted Democratic Gathering of the province of Oued Eddahab, Lamine the Abu Samra-Salwa crossing told Ekh- Donald) Trump’s administration as it is Iraq’s oil minister affirmed Iraq’s commit- centennial, urging teamwork among Member, MP Bilal Abdallah, recently. Benomar, and the presidents of the elected bariya TV. a partner in killing Yemenis and starving ment to the OPEC+ reduction decision and all institutions to proceed forward in councils were also present. Saudi Arabia announced a U.S.-backed them,” he added. -----AFP the compensation of its overproduction development efforts, especially on the Libya The US Assistant Secretary of State for deal to end a bitter dispute with Qatar that

10 w BUSINESS LIFE FEBRUARY 2021 BUSINESS LIFE FEBRUARY 2021 w 11 COVER INTERVIEW Driving Excellence through Agility

Embrace growth and adaptable digitization and be more responsive toward meeting changing customer needs and business requirements

yst Technologies (LYST) is a leading System Integrator of world-class Next-Generation L business solutions. LYST devel- ops, delivers, and supports innovative software and services that harness 21st century technologies in new and differ- ent ways to help our customers manage their organizations effectively and drive down the costs of doing business by leveraging its industry-wide experience, deep technology expertise, comprehen- sive portfolio of services and vertically aligned business model. LYST operates through various loca- tions and countries, i.e. Bahrain, India, Lebanon, Malaysia, Pakistan, Saudi Arabia, Singapore, Tanzania, Turkey, UAE & the United Kingdom. LYST’s main focus is to empower and support the development and growth of the Global Finance industry, and in specific, the Islamic financial industry by helping the financial insti- tutions to digitize, deliver, oversee and support them in their global technol- ogy transformation journey. In today’s world, organizations have to rapidly re-engineer and digitize them- selves and be more responsive to ever- changing customer needs and business requirements. LYST is best positioned to be the technology partner and co- innovator to businesses. LYST provides leading edge Technology solutions that address the ever-changing needs and demands of the Global financial industry; being a trusted technology partner of choice for global businesses, LYST is recognized for its innovative ap- proach towards delivering maximized business value and its commitment to continuous sustainability. Moving forward, Naji Moukadam is the Managing Director and CEO at Lyst Technologies. A Senior Executive with over 30 years of experience across diverse organizational domains with proven experience in driving multi- Interview: Naji Moukadam, Managing Director and CEO at Lyst Technologies

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Innovative digital solutions: Naji Moukadam, Managing Director and CEO at Lyst Technologies

system architect, analysis & design, solution His role also covered setting up and im- Naji Moukadam holds a Bachelor of implementation and support. plementing related advanced system design Business Administration and a Bachelor of In September 2011, Naji joined SAB and system implementation strategies and Management Information Systems from Group as the Managing Director at SAB processes, as well as launched a corporate Saint Joseph University. He attended sev- International out of Dubai with the main academy practice focused on providing eral executive educational programs and task of developing and coordinating a training and educational programs related training courses ranging from corporate comprehensive global go-to market strategy to the Islamic financial technology; the development, business development, bank- activities for the group. academy practice offered services to the ing strategies, team management, leadership Prior to that, Naji started at Path Solu- company teams and recruits, the organiza- management, and an Executive Develop- tions in 1993 as a System Analyst, where tion clients, and across selected business ment Program - University of Pennsylvania he designed, architected, developed, and schools around the world. - The Wharton School and Strategic manage- managed a focused Islamic banking solution Prior to that, Naji served as the profes- ment in Banking at INSEAD in France. in 1995. He became the Executive Vice Presi- sional Services Director responsible for It’s a really exciting time to be working dent of system development in September rolling out Finastra products to the different in the global financial technology, and in 2000, where he enormously contributed banks in Lebanon during the year of 2000 specific the Islamic financial technology to the development of the global Islamic at MDSL S.A.L. field amidst Covid-19. Recent develop- Doing the right project: Naji Moukadam, Managing Director and CEO at Lyst Technologies financial technology. It is important to note, Last but not least, Naji began his career ments will certainly help separate the good that being an advanced technology pioneer, at PC Group in 1988 where he gained an in- companies from the bad. Such news brings he designed, developed, and implemented depth knowledge and high level of expertise great optimism and opportunities for many million-dollar growth across multiple ge- -The Specifications of IT Solution to Sup- many more. a complete mobile and internet banking in developing, setting up and implementing financial institutions to consider digital ographies covering Europe, the Middle-East, port the Growing Islamic Banking Industry Furthermore, Naji’s core competencies solution in 2003. retail banking solutions and consulting transformation during the pandemic, mov- Africa and Asia. at the 3rd Annual Asian Islamic Banking & covered many areas including: go-to market In November 2004, Naji got promoted assignments and assessing the banks’ set ing to agile and secure financial technology Naji is currently driving the develop- Finance Summit in Kuala Lumpur. strategy, organization development, leader- to become the group president, where he schemes within Equip bureau, a member solutions and services available to serve ment of a global go-to-market strategy that - The International Islamic Finance ship growth & crisis management, business reviewed and restructured Path Solutions of PC Group. Naji designed, developed, and banks’ community from bank executives, includes business development, thought Forum in Dubai. management and new market penetration, by developing a complete go-to-market supported various projects ranging from managers, employees, to clients, agents and leadership, global delivery and center of - The Enterprise Banking Solution-Com- team management (business development, strategy, realigned its product offerings, enterprise resource planning focusing on so on anytime, anywhere. excellence to expand Lyst Technologies plete Integrated Solution at the MEFTEC in professional services, software develop- processes and methodologies across differ- retail & wholesale companies, banking People may be discouraged from using worldwide. Manama. ment, client management, contract negotia- ent departments of the organization and branch automation, and human resources. certain next-generation financial technol- During his career, Naji provided several - The Right Technologies for the Islamic tion, deal closure, strategic planning, finan- evolved Path Solutions into a market-led He directly conducted the support to 5 retail ogy. Increased cautiousness regarding workshops and presentations, and spoke in Banking Industry at The Islamic Finance cial services as well as project management) provider of solutions and services for the & wholesale institutions and one commer- privacy and security isn’t necessarily a bad many conferences and symposiums such as: & Investment Symposium in Jakarta, and in addition to his technology skills related to Islamic financial industry. cial bank. thing. In fact, it’s encouraging that more

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NAJI MOUKADAM: Digitalization is trans- provide an opportunity to make a tangible forming how people communicate and do impact on any company’s future. By attract- business on a regular basis, and the future ing, maintaining and nurturing talent for of financial services around the world the next decade, we make sure our recruits continues to be driven by advances in bank- will have the ability to collaborate and in- ing technology. A growing demand from teract with fellow workers on a global scale. millennials and Generation Z for a digital Delivery services reduce any delay, banking experience is changing how the en- expense and reliance on internal resources, tire banking industry operates. Technology making sure you optimize value and time has its hand in every point of the banking to market, for all prospective clients. industry; and the influence of technology Digital marketing services focus on will continue to transform banking into a finding the most suitable solution for your digitized future. Synergies Banking Solu- specific needs and designs the best plan tions embrace the growing trends of being for implementation using search engine prepared for the future. With data driven optimization (SEO), search engine market- personalization, artificial intelligence and ing (SEM), and social media management the use of high level security and protec- (SMM). tion of customer data, Synergies Banking Solutions are ahead in the race of positive BL: What do you say on digital transformation, evolution. Our solutions provide one of digital strategy, digital process and organization the most innovative digital transformation and digital banking architecture and governance? foundations to engage demanding custom- NAJI MOUKADAM: Digital transformation ers with real-time processing engines, open is a broad topic that covers a number of banking, and embedded customer insights. different types of initiatives. Simply put, it is changing how a business interacts BL: How do you deal with innovative Islamic finance? with customers and employees using NAJI MOUKADAM: Innovative Islamic Finance technology; and also using technology to is a relatively advanced concept that has significantly improve internal processes, been introduced into the world through by making them more efficient. new, agile, and adaptable financial tech- There is a problem with the word Expecting to see more centralization of solution-driven technology this nology. It is built based on the principles of digital, and it is that it’s all pervasive. That Digital transformation amidst Covid-19: Naji Moukadam, Managing Director year: Naji Moukadam, Managing Director and CEO at Lyst Technologies Islam. Islamic finance has a wide range of could be a huge opportunity, but also a and CEO at Lyst Technologies applications, including the use of Islamic huge problem. It is very easy to get lost in and more people are taking precautions the efficacy of COVID vaccines. However, finance to assist with education, the al- the digital transformation initiatives. It is and becoming more aware of their online the headlines are positive for now, but the leviation of poverty, and a way to support necessary, therefore, to anchor the initiatives Digital transformation and digital strat- marized as the applied systems that banks privacy. However, it is proven that these pandemic and its unprecedented economic the world’s poor. There is no doubt that and define some business key performance egy are closely related, but differ in scope. use, and those that clients and employees next-generation solutions and services are effects will not disappear overnight. embracing technological advances would indicators (KPIs). It is about growth in sales, Digital transformation drives change in navigate through. In order to adapt more becoming more and more secure with the There are a lot of challenges with a enable Islamic finance to fulfill its potential higher customer loyalty, and retention of three areas: customer experience, opera- effectively to rapidly changing market advancement of technology and its vari- transformational year in the industry ahead and provide the size, connectivity and out- customers, as well as upselling of goods. tional processes and business models. conditions, banks need a fast and efficient ous uses. of us for sure. The need to adapt to emerg- reach of its needs to engage with potential No one person can really fully lead digital Digital strategy, on the other hand, relies way to simplify their architecture. From our own experience in the field, it ing technologies such as automation and customers in developing countries. transformation, because it is omnipresent on technology, not culture. It utilizes tech- Banks will need to identify gaps and certainly seems that many financial banks artificial intelligence has taken on a new in digital cuts across marketing, technology, nology to create the capabilities a company process changes between the desired trans- and institutions started considering cloud- significance, along with a renewed focus BL: Naji, what are Lyst Services? operations and finance. Therefore, the mo- needs to become a digital business. Setting formation state and current architecture based solutions and services, in addition to on solution-driven technology. NAJI MOUKADAM: Lyst services empower ment that any individual attempts to lead down a strategy is a key component of the state in order to choose the appropriate extending their own on-premise platforms I expect to see more centralization of the financial industry via optimized next- it creates a problem. transition process, and ensures that technol- transformation approach (4): onto the cloud, where such services are solution-driven technology this year, with generation technology and services that Financial institutions started conduct- ogy is being applied in a way that supports SOA-Based Architecture: A component- becoming available and more vigilant. a focus on the tangible benefits it provides consist of consulting, empowerment in ing digital transformation strategies during the business objective. based, SOA-compliant architecture can pro- People now have greater knowledge of to the industry. education, outsourcing and digital market- the pandemic, moving to agile and secure Digital processes are a collection of vide banks with interoperability between what information of theirs is being stored, When speaking of technology, these ing. Each service encompasses specialized financial technology solutions and services multiple tasks conducted by people in a their core functions and reduce the cost of what it is being used for, and who it is being big tech giants will always be put under teams that work together to enable great available to serve banks’ community from specified schedule to develop a product integration. Working with a shared service shared with. the spotlight. Microsoft, Amazon, Apple, customer outcomes. bank executives, managers, employees, to or service for certain customers. Internal landscape would also contribute to creating Stating the above, BUSINESS LIFE SAP, IBM and Google have been the main Outsourcing technology helps keep clients, agents and so on anytime, anywhere. business processes take place at every level an infrastructure that will comply with the Magazine has had the opportunity for an headline recently. All companies wielded your company competitive, cost effective, Digital strategy focuses on using tech- of a company, but may not be visible to current and future needs of banks. exclusive interview with the reputed Naji monopoly power during the pandemic, and have faster time to market, and greater flex- nology to improve business performance, customers. Progressive Simplification: Banks can Moukadam, Managing Director and CEO none of them have any serious rivals today. ibility. Using outsourced technology, com- whether that means creating new products By implementing internal and exter- opt for incremental simplification instead at Lyst Technologies. During the pandemic, all tech giants panies will aid in adaptability, as well as help or reimagining current processes. It deter- nal business processes, your organization of fully overhauling core legacy systems, reacted quickly and decisively on adapting you evolve with the changing landscape. mines the direction an organization will should gain greater success such as greater preferring selective customizations that will and offering cloud-services, empowering Consultancy mainly focuses on finding take to create new competitive advantages customer satisfaction and faster ability to provide them with competitive advantages BL: What is going on with finance and tech giants companies and employees to work from the most suitable solution for any need and with technology, as well as the strategies it react to changes in your particular market. without altering all legacy products. How- recently? home, paving the way to a work-from- design the best plan for implementation. It will use to achieve these changes. When This type of organization within a company ever, banks will have to decide if the transi- NAJI MOUKADAM: Going into 2021, the rising anywhere work mentality. is an important service that builds business emerging technology makes it possible for will also allow departments to work more tion package supports country-specific regu- expectations that things will soon return cases, refines processes and facilitates the creative businesses to offer services that effectively between each other. latory policies and accounting standards for to normal are driving the market forward, BL: What are your views on Synergies Banking and execution of business goals. were not previously possible, this typically In order to provide and procure banking bank-specific business processes. and mainly because of the optimism of Financial Solutions? Empowerment in education services entails improvements to business models. services, banking architecture can be sum- Core banking on the Cloud: To leverage

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operations and procedures can be as fast as need to see the whole context in which the ways to measure how transparency and role within every organization, as the mar- six to nine months. company works, consider numerous forces trust flows in the organization, have an out- ketplace and world becomes increasingly Easily scalable: Technology can be ap- at play, set a broad vision, and be the final of-office team building, create core values automated, tailored, and complex. plied to tackle seasonal operations (data re- voice on various decisions. In my particular and highlight people who live up to them, To list a few features: mediation or high business activity periods). industry and situation, my objective is to get to know your employees, keep people - Confidence, Inspiration, ability to commu- Complement other initiatives: Can be figure out the best way forward. interested, keep communicating, and keep nicate the vision and values, establish the introduced in combination with other exer- Some long-term goals include: your employees happy and loyal. right culture in the organization, honesty, cises for process improvement or initiatives - Have close links to all stakeholders. integrity and transparency. Commitment, for location strategy to maximize capacity - Growth via stakeholders and partners. BL: What are your values as a company leader? humility, as well as learning from failure free-up. - Be able to develop a team of talented, How do you ensure these values are upheld by and experiences as a whole. diverse and driven individuals who will employees? BL: What are the synergies cloud solutions that be as excited as I am about preparing for NAJI MOUKADAM: It is really important to BL: Would you describe yourself as good leader? boost financial institutions’ performance, simplify the future. identify and improve your core leadership NAJI MOUKADAM: One does not set out to be a their operations, increase their reach and ascertain - Continuous learning at the center of values. Understanding what leadership val- leader, but becomes one by the equality of their compliance across the whole Islamic financial all things. ues are and what core leadership values you his actions and the integrity of his intent. value chain? - Build a community that is collabora- want to adopt into your leadership style can NAJI MOUKADAM: The way we do banking is tive, confidence-based and risk-tolerant. help you improve your relationship with BL: How does LYST enable banks to better connect evolving rapidly through financial tech- - Have a common and convincing vision. your team, thus becoming a more effective and communicate with each other and their clients, nology or FinTech. FinTech continues to - Clear and well-understood strategy. leader. Leadership values are important to deliver both improved profitability and client influence every aspect of global banking, - Strong and sustainable performance because they help you determine how you service whilst reducing operational risk and costs? whether it is lending, payments, mobile on all levels. want to achieve your goals and what type NAJI MOUKADAM: Customer communication banking or even capital markets. While of leader you want to be. and expectations are not static and will Islamic banking is still relatively new (due BL: What has been your biggest challenge, and how Stating some values as a company leader continue to evolve and expand across all to constraints on Islamic banking as well as did you overcome it? include influence, vision, honesty, passion, industries, especially banking. Because of lower capital financing), there is a growing NAJI MOUKADAM: Innovation in financial integrity, dedication, empathy, personal the complexity of mobile-first offerings interest in this field of finance. In addition technology is consistently disrupting the development, respect, authenticity and and the secure handling of sensitive data, to Synergies on-premise solutions, Lyst Tech- status quo and driving growth while exist- many more. to swift and seamless integration, financial nologies extended its offerings on-cloud. ing providers do all they can to keep up. Companies have to encourage employ- organizations that want to develop new Islamic FinTech’s greatest boost comes from Financial technology, within traditional ees to “act like owners” in their interactions services often need the expertise of external solutions that can be implemented on-cloud organizations and modern start-ups, is with customers, since they are handed over partners to both access what needs to be or on-premise, focused on branchless bank- improving and automating how financial the company’s vision, mission, values, and improved and which approach is the best Timely planning: Naji Moukadam, Managing Director and CEO at Lyst Technologies ing, crowdfunding, agency banking and services are provided and used. These chal- culture. to meet the needs of customers. microfinance. lenges have been pushing our imagination Empowerment, training, recognition, Extending Synergies Banking Platforms Factors that promote the growth of in new ways, and like most developing support and rewards all play a role in to address banking and financial institu- various pricing choices, banks can opt for ment. This is particularly true in financial Islamic banks’ solutions include: industries, the challenges have been tough. ensuring company values are upheld by tions’ specific needs through end-to-end a cloud-based solution to host processes, services, where Robotic Process Automation - The rise of Islamic banking in markets Building trust with users and getting early employees. solutions, vertical modules and add-ons software, networks, or infrastructure. This (RPA), also known as digital labor, is being with a high number of unbanked individu- users on board has been a challenge, espe- enable banks to better connect and com- strategy could result in some risk transfer to embraced by a few larger companies for als. In these regions, Islamic banking Fin- cially in disruptive technology. From elimi- BL: What features make a good leader? municate with each other and their clients. the bank as the cloud service provider would manually intensive, repetitious activities, Tech solutions could be used very efficiently nating data breaches, to keeping up with NAJI MOUKADAM: Leadership is defined as a By recognizing the need for such change, manage functions such as disaster recovery the kind that have been sent offshore in the to meet unbanked customers. regulations, and even organizing big data are process of individual influence on a group Synergies is designed to work with banks and data storage. past to achieve labor arbitrage. The potential - Islamic banks usually have higher all challenges we face on a daily basis. Not of individuals aimed at the achievement to create a range of digital products and Pre-integrated Complete Banking Eco- for cost savings through all sorts of business operating costs in contrast to non-Islamic only do we have to convince consumers to of individual and/or common goals of the services, either as a whole Platform or system: For banks, another option is to processes may be greater than the digital banks. Using FinTech channels could make trust our brand, but also have to argue that group or the organization. Without the through individual modules for key parts provide a capacity-driven simplification transformation’s potential for new revenues. banking more efficient by lowering the our product is crucial. By interacting directly two elements together, leader and follower of the customer onboarding process, with strategy for their banking architecture. Such In regulatory and compliance reporting, Ro- cost of providing banking solutions to the with our users, we have improved our rela- leadership ceases to exist. an API based on open bankingdesigned for an approach allows banks to reinvent their botic Process Automation has tremendous unbanked. tionship and gained their trust. Creating Leadership is persuading and convinc- simple integration with other systems for process of architectural design by choosing potential, particularly to reduce costly errors - Increasing internet, mobile and smart- an authentic, agile, and informative online ing people to go the extra mile in achieving maximum flexibility. capabilities that as a pre-integrated banking in that process and in financial reconcilia- phone penetration in markets with Islamic experience for our customers has built posi- the organization’s goals. They help set the Synergies Banking Solutions are de- ecosystem are available on the market. This tion, specifically to close the gaps between banking supports the growth of Fintech tive, lasting relationships. direction the employees should follow ployed via a premise-based or cloud-based is preferably achieved through a subscrip- non-straight-through-processing systems. models to provide banking solutions to achieve the vision of the organization. delivery model. Cloud offers a scalable, tion-based model. Technology now available enables financial - The lack of Islamic investment options BL: How important is company culture to you and In addition to that, leaders help increase manageable technology model that cuts institutions to automate many operational available to investors makes it difficult, what measures do you take to maintain your desired business performance and productivity IT hardware, maintenance and develop- BL: How do you implement cost reduction with computer-based activities, such as scanning, costly, and inefficient to create a sharia- culture? through motivating the employees and set- ment investment, which makes it the ideal digitization? matching, comparing, filing, and more. This compliant investment portfolio. Smarter NAJI MOUKADAM: A winning company cul- ting performance objectives the employees deployment choice for a many Banks and NAJI MOUKADAM: Digital transformation is will free workers to do work of greater value. use of technology, however, could be used ture has always shown to improve levels should accomplish. A technical leader does financial institutions that are not hampered altering business models, developing new If implemented effectively, RPA can very well to screen all available investments of employee engagement, productivity and more than direct and troubleshoot technical by intricate IT systems. The ability to use services that generate revenue and, most be an important investment. Among the at a fraction of the cost. performance. Company culture is defined issues with software, hardware and mobile Synergies Cloud Solutions enables banks importantly, reducing costs that can be reasons: as the values, ideals, attributes and goals applications. He will also manage your and financial institutions to have access to achieved by digitizing manual business Quick time to market: Automation can BL: What are your long-term goals, did you achieve that characterize an organization. From technical team. Good direction involves a highly secure, always-on, industry-leading processes. be applied easily, even more quickly than them, and how? establishing a brand identity to uniting honesty, integrity and the ability to inspire Islamic banking and financial technology Applying digital transformation tools finding the right person to do it. NAJI MOUKADAM: To say that the world has coworkers and increasing employee engage- teamwork, promote productivity and del- solutions, without the need for significant to traditional, labor-intensive internal Quick paycheck: The program itself is changed would be an understatement. ment, a healthy company culture can have a egate tasks without being condescending. internal IT resources and expensive infra- activities will lead to tremendous savings, inexpensive and there can be substantial The way we work, learn, and interact is huge positive impact on your organization. A technology leader wears multiple hats structure of their own. The wide range of efficiencies and enhanced risk manage- incremental savings. Paycheck for such completely different today. As a CEO, I Corporate culture is maintained by finding and always plays an important strategic cloud-based Islamic financial solutions

18 w BUSINESS LIFE FEBRUARY 2021 BUSINESS LIFE FEBRUARY 2021 w 19 COVER INTERVIEW provide end-to-end banking solutions for be used very well to screen all available not properly secured and leveraged. Invest- audit and audit log, access configuration different needs such as: Omnichannel Bank- investments at a fraction of the cost. ing in a solution that automates security and control, as well as data layer isolation. ing Cloud, Core Banking Cloud, Window policy compliance in the public cloud will Cloud, Digital Banking Cloud, SME Banking BL: How do you build rapport with your workers? give you visibility into your distributed BL: What is your philosophy of management when Cloud, Consumer Financing Cloud, Invest- Why do you think this is effective? cloud environment, while ensuring your you are leading a team in the technical field? ment Banking Cloud, Microfinance Cloud, NAJI MOUKADAM: Getting to know your team cloud environment is compliant. Such a so- NAJI MOUKADAM: The only way to success- Crowd-funding Cloud and Treasury Cloud. is critical to any business owner. You need lution continually scans your infrastructure fully manage a technical team is to take to understand their motivations and drivers in order to detect misconfigurations, as well on full responsibility and serve as the in- BL: How do you deliver innovative solutions to the if you want to get the most out of everyone. as actively enforcing security best-practices, termediary between each member of the Islamic finance market, specifically in the area of The team will not all respond to the same and remediating violations automatically team. You don’t have to do this yourself, asset and liability management? exact things, so the more you can get to before they even become risks. just make sure everything goes smoothly NAJI MOUKADAM: Asset and Liability Manage- know each of them uniquely, the better the The goal of software security is to main- and on schedule. Your job is to organize all ment (ALM) is a technique used to reduce fi- relationship will be. Simply asking your tain the confidentiality, integrity, and avail- data collection, analysis, and interpretation. nancial risks arising from asset and liability employees for their perspective of things ability of information resources that enable Allowing the whole team to understand mismatches by financial institutions. ALM will be enough to delight people and stand successful business operations. This goal and address clients’ priorities, and putting techniques use a mix of risk management out as a good manager/business owner. is achieved through the implementation ourselves in their shoes will open our eyes and financial planning and are often used by You can build rapport with your em- of security measures. To implement the to opportunities we could not see before, businesses to address long-term uncertain- ployees by asking work related questions, appropriate security measures, there are a from a different perspective. ties that could occur because of changing but questions that are not directly related few key questions we need to ask ourselves: Providing the team with the necessary conditions. Financial institutions are left to work are more effective, such as: what - What are we trying to protect? tools for project delivery will allow you to with a surplus which can be effectively uti- are your hobbies or interests outside work, - Why are we trying to protect it? get the best out of each tech genius. Reward lized to optimize their investment returns what do you like to do when not working, - How will we protect it? employees for their hard work, since tech and improve profitability by successfully where did you grow up, what’s your favorite Based on these questions, Synergies was geniuses are more particular about getting balancing assets against liabilities. place you’ve ever visited, and why? built and is being continually enhanced credit for every single obstacle they over- In addition to the aforementioned, Lyst Everyone’s favorite subject is talking using the best market practices to provide come, in comparison to a business team that Technologies, in cooperation with Connec- about themselves. Some people will be more the most possible secure platform and cover is mostly tempted by power and money. tif built a focused Islamic trading platform, private than others, so trying out different security measures that minimize and even Informing the team about customer iWAVE, to connect the Islamic institutions topics will help find something that they eliminate many cases related to security feedback will help the technical team to their counterparts through one central really want to discuss. Looking and listen- threats. These implemented measures cover understand what step to take in order to platform. Allowing master agreements to ing carefully to see what they show more the full spectrum of the software develop- improve product delivery. A willingness to address problems promptly: Naji Moukadam, Managing Director be negotiated, trades to be executed, and all excitement about, and showing you are ment cycle, from designing the product to and CEO at Lyst Technologies post trade processes to be undertaken across genuinely interested in their answers will releasing it and includes, but not limited to BL: How would you resolve a conflict with a techni- the whole Islamic finance asset and liability help you build a proper rapport. design and development, application secu- cian who did not value your ideas on a project? product range. rity risks, data validation and full audit and NAJI MOUKADAM: I have always worked hard for one of the most prestigious banks that and market. Because Islamic banking depositors are BL: What are your current and ideal work/life bal- audit log, access configuration and control, to empower my team to take a more proac- was at the forefront of technology in the taking part in the bank’s benefits, Islamic ance? What measures do you take to control the as well as data layer isolation. tive role in my business, listening to what Gulf region. BL: What is the role you feel technology plays in our banking follows to maximize benefits to work/life balance of yours and your employees? they have to say about new ideas, better The bank wanted a hybrid model with industry amidst Covid-19? beneficiaries and among them depositors. NAJI MOUKADAM: Balancing your professional BL: Are our personal details, email addresses, ways of doing business and taking high lev- the best of breed solution implementa- NAJI MOUKADAM: Technology has played Islamic banking works side by side with and personal life can be challenging, but it’s passwords, and financial details secure? els of effort to improve the organization as a tion, while maintaining operation during a major role in responding to Covid-19. traditional banks in many markets, supply- essential. Creating a harmonious work-life NAJI MOUKADAM: One of the main concerns whole. People want to be heard and feel val- rollouts over various components and Throughout the pandemic, technology has ing potential consumers with all product balance is critical, though, to improve not that come up when considering financial ued. Having a company culture where peo- solutions. The implementation process was answered the call for a new form of public options. In many markets, the population only our physical, emotional and mental cloud compliance is that customers do not ple will bring their ideas to work has been very unique, in all aspects ranging between health that illustrates opportunities for could theoretically prefer conventional well-being, but it is also important for our manage their own IT infrastructure. That associated with many important outcomes technology, solution, and functionality. enhanced agility, scale and responsiveness. banking to Islamic banking. Crowd-funding, career. is why it is important to stress the fact that in areas such as productivity, employee Technology like chatbots and virtualized microfinance and agency banking are sup- Better use of technology enables people cloud compliance is a two way street. Finan- engagement, retention and innovation. BL: Where do you go to find your favorite sources to patient care offer a mechanism to triage and porting the growth of Islamic banking with to respond to problems more effectively and cial service organizations have a contractual In the real world, conflict in the work- study technical innovations? distribute care at scale. AI and high perfor- the help of factors such as: efficiently. It allows for a response from wher- obligation to their clients but clients must place is inevitable. Avoiding conflict or NAJI MOUKADAM: Innovation has become mance computing have accelerated research - Spread of Islamic banking across ever they are. Despite this, it hinders time rely on best practices and regulations to mismanaging it comes at a high cost to the buzzword of the industry in the 21st into understanding the virus and develop- areas with a high % of unbanked people. spent with family but enables quality time. look out for their interests as well. In other organizations. Essential qualities I have century. From business to other areas every- ing targeted therapeutics to treat infection - Islamic banks tend to have higher Letting go of perfectionism, unplugging words, a specific provider, be it on-cloud been developing over the course of my years where innovation is being talked of. Several and prevent transmission. In response operating costs than non-Islamic banks. once home, exercising and meditating, through SaaS (Software as a Service) or on- to deal with employees have taught me to emerging businesses have proved that inno- to public concerns, new mobile contract - The Use of Islamic FinTech could limiting time-wasting activities and people, premise through PaaS (Product as a Service) always listen, detach from my own biases, vation can be the way to the top. Amazon, tracing protocols were created that protect make banking efficient by lowering the changing the structure of my life, and start- will offer certain compliance and security focus on behavior, and try to understand Google and Facebook are proof of it. patient privacy and civil liberties, providing cost of providing banking solutions to the ing small are all measures I take for a better features, but it is up to the client to respon- why things were done the way they were Participating and subscribing to many new opportunities for privacy-sensitive unbanked. work/life balance. sibly implement those features. Whether in order to address and seek a resolution to innovation blogs and websites to read on a technology to support efforts to prevent - Rising internet, mobile, and smartphone the firm chooses a private cloud or public the problem quickly. daily basis such as Harvard Business Review, and monitor outbreaks. Although much penetration in markets with Islamic bank- BL: How safe is our financial information online? cloud, compliance guidelines must be met Idea to Value, MIT Technology Review, progress is still needed, the importance of ing supports the growth of FinTech models What kind of information has been and can be to ensure optimal security. BL: What technical projects have you worked on in TechCrunch, CNET, Innovation Excellence technology for public health protection to provide banking solutions. leaked without warning? Financial technology solutions should the past that excited you, and why? and Innovation Management all include in- and pandemic preparedness has been high- -The lack of Islamic investment choices NAJI MOUKADAM: Financial service organiza- cover the full spectrum of the software NAJI MOUKADAM: Throughout my 30 year ca- depth analysis from serious experts and aca- lighted by Covid-19. By recognizing that we available to investors makes the process of tions, now more than ever before, are striv- development cycle, from designing the reer, every project I took on excited me in its demics, wonderful case studies of big name should highlight the role of technology and constructing a sharia-compliant investment ing to understand how to fully operate in the product to releasing it and includes, but not own way, but there was one specific project businesses, as well as looks at specific skills continue to explore ways to complement portfolio difficult, costly, and inefficient. cloud and to recognize the potential security limited to, design and development, applica- with a challenging scope. Having to conduct like creativity, leadership, and curiosity that and strengthen conventional approaches Smarter use of technology, however, could challenges cloud computing can present if tion security risks, data validation and full an exciting digital transformation strategy will help you stay ahead of the competition has proven to be a huge advantage to us,

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changing. is through our Synergies Banking Platform ment for innovation? on stakeholder perceptions, reports on the There is no denying that CEOs are ac- that provides vertical solutions and modules NAJI MOUKADAM: There is no proven formula social and environmental effects of opera- countable to their board of directors, busi- to address bank compliance requirements for success, particularly when it comes to tions, the prevalence of civic advocacy, glo- ness owners, and shareholders. With the across all banking activities and services. innovation. The pace of change has gone balization, emerging problems and conflicts, company’s current and potential success on into hyper-speed in the digital age, so busi- and the need to be good corporate citizens the line, it is really important on each and BL: What are your approaches to managing technol- nesses must get their strategic, innovative, through ethical and socially responsible every CEO to create their own value. ogy change? executive, and organizational factors right actions. To name a few: NAJI MOUKADAM: Employers need to employ to innovate successfully. No single tool or Anyone who has an interest in your - Recruiting top talent: Being able to tailored communication campaigns that method will yield reliable, profitable break- idea, operation, product or service is a effectively communicate the company’s utilize various delivery channels and in- throughs, nor will a series of practices that stakeholder. Customers, project managers, vision and how each employee fits into clude consumer-like context experiences to are misaligned or poorly integrated. It takes outside regulators, VPs, senior manage- bringing the vision to life will encourage communicate with today’s diverse, mobile- a systematic approach to build systematic ment or even co-workers may be part of top candidates to join the team. enabled staff. capability. Skills, tools, metrics, processes, this. I believe it is extremely important to - Defining the right metrics: Understand- It is obvious that organizations do not platforms, incentives, roles, and values all establish relationships with stakeholders ing the need for the organization to have use the right resources or techniques to help have to come together to produce a winning and should be thought of as a subject that a solid reputation, integrity and a strong their workers understand and implement innovation machine. stands on its own. presence in local communities. new ideas and practices, especially in today’s It is important for have what it takes to The number one reason for building - Thinking outside the box to motivate digital workplace, where employees live in take the right decisions in order to embrace relationships with stakeholders, in my employees: Recognizing the importance of a noisy environment in which conflicting innovation completely, while making sure opinion, is to prepare for the unexpected. an engaged and spirited staff from top to bot- interests are constantly communicated. Too not to inherit the burdens of outdated When unexpected issues arise without a tom will optimize contribution and allow much data and too much one-size-fits-all legacy systems while you are thinking relationship, it gives sponsors the feeling their unique set of expectations to prosper. messaging makes employees feel over- about innovation. Thinking outside the that you’re inept. On the other hand, when - Establishing a global presence: Under- whelmed and limits their engagement with box, and finding innovative ways to rebuild unexpected issues arise with a relationship, standing different cultures and addressing communications of strategic change. In outdated systems rather than patch up and sponsors have a feeling of confidence. If you the uniqueness of each one through the order to connect in today’s diverse, mobile- migrate them. build a good relationship, it becomes easier goods and services that are being offered enabled workers, employers need to employ to have open honest conversations with by the company will allow for a successful targeted communication campaigns that BL: What is your approach to stakeholder relation- your stakeholders. They will listen to your functioning across international borders. leverage multiple delivery channels and ship building? opinion and allow for flexibility in meeting - Partner empowerment: The goal is to provide consumer-like context experiences. NAJI MOUKADAM: In order to resolve transi- project goals. Last but not least, building ensure partners have access to data that is tions in unpredictable organizational good relationships with stakeholders will streamlined and intuitive. With easy and BL: What do you feel is most important for IT, enable- environments, effective organizations rely secure you a promise of future projects. immediate access to information anytime, anywhere, companies and partners can spend more time building a sustainable partnership. - Incorporating modern technology into the business model: To successfully be able to compete, companies need to direct the organization into the cyber-market where customers from countries all over the world have access to the company’s goods and services.

BL: What are the key challenges and approaches to compliance? NAJI MOUKADAM: Compliance is complicated and expensive to manage, and are usually created in response to a specific event – a new regulation, criminal investigation, etc – with little thought to how it all works together. The main challenges facing compli- ance are based on the pace of change and level of uncertainty we are experiencing. Famous managing tech giants: Naji Moukadam, Managing Director and CEO at Lyst The increasing use of technology, and the Technologies emphasis being placed on “why” or “how” a business is being conducted, beyond just making it clear that we are on the right path business organizations, developments in the “what”, are also pressure points. in innovation as lessons from the current technology, and globalization of the world’s The first main approaches facing compli- pandemic are assessed. economies have changed the end game for ance is through establishing frameworks, many business organizations. CEOs are policies, training and empowerment to the BL: What would you bring to this role that others under tremendous pressure to remain agile team on how to better engage with their wouldn’t? in a dynamic business environment where counterparts, clients, and partners. The NAJI MOUKADAM: Over the past 10 years, regulations and procedures are continually second main approach to facing compliance

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The Race For A COVID-19 Vaccine

US$34 million in emergency financing will provide access to vaccines for over 2 million people in Lebanon

s Lebanon registers new records re-allocation of US$34 million under the in the daily surge of COVID-19 existing Lebanon Health Resilience Project infections and after the Lebanese to support vaccines for Lebanon as it faces A government has declared a health an unprecedented surge in COVID-19, with emergency, UN Lebanon and partners call record-breaking numbers of around 5,500 on individuals and all sectors to strictly abide daily confirmed cases since the beginning by the lockdown and preventive measures. of the year. This is the first World Bank- Despite continued efforts by many financed operation to fund the procurement individuals, families, communities, public of COVID-19 vaccines. The financing will and private services, businesses and indus- provide vaccines for over 2 million individu- tries that have been applying preventive als. The vaccines are expected to arrive in measures since February 2020, the number Lebanon by early February 2021. Ghosts town: A street is empty of cars during a lockdown aimed at curbing the spread of the coronavirus, in Beirut, Lebanon, Friday, Jan. 15, 2021.AP PhotoBilal Hussein of cases has increased to the extent that ICU In addition to the human toll, the pan- beds are no longer available in Beirut and demic is exacerbating the economic crisis in 1,705 people have lost their lives, out of the aftermath of the Port of Beirut explosion 226,948 cumulative cases, as of 12 January last August. This vaccine rollout will target the Government of Lebanon, with the sup- and treat suspected cases. Fast track pro- working to ensure the flow of critical disease impacting the health of individuals, 2021. The increase was primarily driven by priority groups: high risk health workers, port of the World Bank and other partners, curement through local and international supplies and equipment, and helping the their livelihoods and the economy. It will a significant increase in social gatherings population above 65 years of age, epidemio- has conducted the COVID-19 vaccine suppliers, following World Bank procedures private sector continue to operate and only decrease if individuals and all public during the holiday season, such as restau- logical and surveillance staff, and popula- readiness assessment, established a Na- and in coordination with UN agencies, sustain jobs. The WBG is making available and private sectors abide by preventive rants, crowds at bars, weddings, shopping tion between 55-64 years with co-morbidi- tional COVID-19 Vaccine Committee, and has since helped procure critically needed up to $160 billion over a 15-month period measures strictly and consistently. malls and elsewhere. COVID-19 is a deadly ties. By prioritizing these groups, the coun- prepared a draft National COVID-19 Vaccine goods and equipment to 45 hospitals. These ending June 2021 to help more than 100 “We have reached a tipping point in our disease impacting the health of individuals, try’s vaccination program has the potential Deployment Plan (NVDP). The draft NVDP included Personal Protective Equipment, 60 countries protect the poor and vulnerable, year-long fight against COVID19. The virus their livelihoods and the economy. It will to reduce the consequences of the pandemic, has all the key elements recommended by ventilators, 10 PCR machines and testing support businesses, and bolster economic is spreading like wildfire and is weighing only decrease if individuals and all public even in conditions of supply constraints. the World Health Organization and repre- kits. In addition, 50 Intensive Care Units recovery. This includes $50 billion of new heavily and severely on Lebanon’s multi- and private sectors abide by preventive “Fair, broad, and fast access to COVID-19 sents a central part of Lebanon’s vaccination (ICU) were equipped with ICU beds and IDA resources through grants and highly faceted crises, making people’s life unbear- measures strictly and consistently. vaccines is critical to protecting lives and readiness. their associated equipment including vital concessional loans and $12 billion for devel- able on different fronts,” said Najat Rochdi, Typically, many vaccine candidates supporting economic recovery,” said World The NVDP will also include key readi- signs monitors, syringe pumps, suction oping countries to finance the purchase and Deputy Special Coordinator, Resident and will be evaluated before any are found to Bank Group President David Malpass. “This ness actions, namely: the development of pumps, infusion pumps, defibrillators, and distribution of COVID-19 vaccines. Humanitarian Coordinator for Lebanon. be both safe and effective. For example, of is an important first operation and I look the sub-plan for vaccine deployment; the ECG machines. The procurement of ad- As Lebanon registers new records in “Business as usual is no longer an option all the vaccines that are studied in the lab forward to continuing our support to many most critical regulatory actions for vaccine ditional goods and equipment is currently the daily surge of COVID-19 infections and fighting this deadly virus doesn’t spare and laboratory animals, roughly 7 out of more countries in their vaccination efforts. rollout; the development of an online sys- underway to further increase the capacity and after the Lebanese government has anyone. We have all a role to play, a social every 100 will be considered good enough Our goal remains to mitigate the impact tem for pre-registration of eligible priority and the number of ICU beds up to 180 beds declared a health emergency, UN Lebanon responsibility to recognize and shoulder. to move into clinical trials in humans. Of of the pandemic in order to save lives and groups; the development and dissemina- with associated equipment. and partners call on individuals and all sec- That’s why we must all redouble our efforts the vaccines that do make it to clinical trials, improve livelihoods.” tion of Standard Operating Procedures for The Lebanon Health Resilience Project tors to strictly abide by the lockdown and and take simple but life-saving preventive just one in five is successful. Having lots of This latest support for Lebanon draws vaccine storage, distribution and delivery; is financed through a US$95.8 million preventive measures. and safety measures because every single different vaccines in development increases on World Bank’s previous work supporting training and supervision of vaccinators and contribution from the International Bank Despite continued efforts by many person’s support and contribution is crucial the chances that there will be one or more vaccination efforts over the decades, includ- ensuring grievance reporting mechanisms for Reconstruction and Development and individuals, families, communities, public to that effort,” she added. successful vaccines that will be shown to ing polio, measles and Ebola. It combines related to COVID-19 vaccination. A public a US$24.2 million grant from the Global and private services, businesses and indus- UN Lebanon and partners will flood be safe and efficacious for the intended financing, global expertise, and in-country communication campaign will also be Concessional Financing Facility (GCFF). tries that have been applying preventive their digital platforms with a new campaign prioritized populations. experience across sectors to build more re- launched to provide the population with Launched in 2016, the GCFF provides conces- measures since February 2020, the number to extend the promotion of the preventive There are three main approaches to silience, ahead of future health emergencies. information on eligibility, vaccination sites, sional financing to middle income countries of cases has increased to the extent that ICU measures and behaviors, as part of the UN designing a vaccine. Their differences The country’s health sector is severely timing, vaccine safety and efficacy. hosting large numbers of refugees at rates beds are no longer available in Beirut and response to contain COVID-19 through com- lie in whether they use a whole virus or overstretched. As of January 17, 2021, the In response to the COVID-19 outbreak in usually reserved for the poorest countries. 1,705 people have lost their lives, out of munication and community engagement bacterium; just the parts of the germ that country had a total of 252,812 confirmed the country, the World Bank had in March The World Bank Group, one of the 226,948 cumulative cases, as of 12 January strategies. UN support to the COVID-19 triggers the immune system; or just the cases and 1,865 deaths. Test positivity rate 2020 allowed the same Lebanon Health Re- largest sources of funding and knowledge 2021[1]. The increase was primarily driven national plan also includes immediate genetic material that provides the instruc- for the last 14 days is high at 17 percent silience Project to help strengthen the Min- for developing countries, is taking broad, by a significant increase in social gatherings coordinated response plans and actions to tions for making specific proteins and not (compared to the WHO suggested maxi- istry of Public Health’s capacity to respond fast action to help developing countries during the holiday season, such as restau- control the transmission of the virus, such the whole virus. mum rate of 5 percent). to the COVID-19 crisis by equipping public strengthen their pandemic response. It is rants, crowds at bars, weddings, shopping as the provision of technical assistance, The World Bank today approved a In preparing for vaccine deployment, hospitals and increasing their ability to test supporting public health interventions, malls and elsewhere. COVID-19 is a deadly health supplies, services and equipment,

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cloud computing services. ICD created a banking arm of JSC O`ZBEKISTON SA- * Structured finance and syndicate Signing of MoU Between ICD and platform based on its relationships with NOAT-QURILISH BANKI (UzSQB), has loans for investment projects; 119 financial institutions, through which, licenses to carry out professional activities * Brokerage/Trading and deposi- the Islamic Development Bank Group in the securities market, issued by the tory services; SQB Securities, Uzbekistan (IsDBG) in general and the institution, in Capital Market Development Agency: * Private and public offering of particular, can have access to a concerned * Investment intermediary; securities; country and identify available financing * Investment advisor; * Organization of bond issues; Jeddah, Kingdom of Saudi Arabia. ICD opportunities. The platform allows finan- * Trustee; * Organization of project financing; was established to be the IDBG private cial entities to collaborate in identifying SQB Securities provides investment * Organization of combined types sector window. The authorized capital investment opportunities, sharing market banking and advisory services to enter- of financing and etc of the Corporation is USD 4 billion. The information, and laying the groundwork prises / organizations of Uzbekistan and SQB Securities has successful experi- shareholders consist of the IsDB (rated for actual financial transactions within non-residents: ence in providing consulting services, co- Triple-A), 55-member countries, and 5 the OIC member countries and across * Capital raising both private and operation with international investment financial institutions from the member borders. public equity; banks, funds and financial institutions countries. ICD is Rated A2’ by Moody’s, SQB Securities LLC * Advising and supporting restruc- such as EBRD, ADB and others ‘A’ by S&P and, A+ by Fitch SQB SECURITIES, an investment turing, reorganization and M&A; ICD aims to play a complementary role to the activities of IsDB and the na- tional financing institutions in member countries by focusing on private sector institutions in their various activities NCB Plans Name Change to ‘Saudi and operations in full compliance with the principles of Islamic Shari’ah. In addi- National Bank’ After Conclusion of tion to extending financing and financial services, ICD provides advisory and con- sultancy services to governments and pri- Intended Merger with Samba vate sector institutions in order to adopt policies for establishing, expanding, and modernizing private sector companies, developing equity capital markets (ECM), Proposed name reflects the creation of a National Banking Champion for debt capital markets (DCM) in the form Saudi Arabia through the merger of two of the country’s leading banks Signing MOU for the development of Islamic finance and capital markets in Uzbekistan: of Sukuk, adopting better management Ayman Sejiny, Chief Executive Officer of ICD practices, and strengthening the role of the market economy. ICD focuses its yman Amin Sejiny, the CEO of Sejiny commented “Providing assistance financing on development projects (such the Islamic Corporation for the to the development of the Islamic finance as infrastructure and private equity funds) ational Commercial Bank (NCB) embodies the goal of the merged entity of Development of the Private Sec- industry has always been among our top that aim to create job opportunities and plans to change its name to becoming the new banking champion for A tor (ICD), the private sector arm priorities. We look forward to pursuing to encourage exports. ‘Saudi National Bank’* after con- Saudi Arabia. Our aspiration is that this of the Islamic Development Bank (IsDB), and intensifying this effort to better tackle In order to achieve all these goals, ICD N clusion of its intended merger merger will create a trusted partner for and Amur Safaraliyevich Djalilov, the Uzbekistan’s needs to develop innovative, establishes and strengthens cooperation with Samba Financial Group (Samba). companies and institutions; a backbone CEO of SQB Securities LLC, signed a MoU robust and competitive financial systems and partnership relationships with an aim The merger will create a new Saudi bank- for the mega-projects that are transforming for the development of Islamic finance at both domestic and regional levels.” to establish joint or collective financing. ing champion with more than SAR 837 our nation; and a destination for the best and capital markets in Uzbekistan. Sejiny added: ”We will further strengthen ICD also applies financial technology billion ($223 billion) in assets, uniquely industry talent.” The MoU will cover the following our cooperation in promoting sustainable (Fintech) to make financing more ef- positioned to accelerate the transforma- The new larger bank will support the areas of cooperation: growth and attracting financing for the ficient and comprehensive. Financial tion of Saudi Arabia’s banking landscape Kingdom’s increasing trade and capital * Conduct selective training projects in Uzbekistan.” services institutions within ICD’s member and deliver progress towards Vision 2030. flows in and out of global and regional courses on Islamic finance and its prod- On his part, Djalilov added: ”The countries are benefiting from fintech in- The next milestones in the merger journey are markets and foster development of small ucts and services for local banks and Islamic finance and Shari’ah-compliant novations by using artificial intelligence, to receive regulatory approval for the trans- and medium-sized enterprises through financial institutions in Uzbekistan; instruments have a huge potential in the robotics, blockchain, data analytics, and action and for shareholders to approve the innovative digital propositions. It will * Introduce Islamic finance instru- market today and we believe that our transaction in the Extraordinary General grow its retail banking, private banking ments such as Sukuk and other instru- capital markets will benefit from them Ayman Amin Sejiny, CEO of Meetings (EGM) for both banks. and coverage of clients to increase home ments; which will be alternative opportunity to the Islamic Corporation for the Saeed Mohammed Al-Ghamdi, Chair- ownership, savings and investment. * Attract potential international conventional financial instruments and Development of the Private man of NCB, said: “This merger is about Both banks will continue to operate financial institutions to Uzbekistan mar- to attract new investments.” Sector (ICD): value creation for shareholders, customers independently until shareholders have ket; The Islamic Corporation for the Devel- and employees of both banks. The name voted on the merger and all legal require- * Attract Shari’ah-compliant debt opment of the Private Sector (ICD) Stressing the importance of Saudi National Bank articulates our vision ments and regulatory approvals are met. financing for potential projects in Uzbeki- The Islamic Corporation for the De- increasing capacity-building, to create a bank that has the capital base The deal is expected to conclude in the stan; velopment of the Private Sector (ICD) promoting knowledge-sharing and the liquidity to pursue growth and first half of 2021. New shares in NCB will Sejiny stressed the importance of the is a multilateral financial institution and supporting greater support social and economic transforma- be issued to Samba shareholders by way MoU in increasing capacity-building, established by the Board of Governors of sustainable access to finance tion in Saudi Arabia.” of a capital increase. The merged bank’s promoting knowledge-sharing and sup- the Islamic Development Bank (IsDB) dur- across ICD member countries Ammar Abdulwahid Alkhudairy, headquarters will be in Riyadh. *Subject porting greater sustainable access to ing its twenty-fourth (24) annual meeting Chairman of Samba, commented: “The to regulatory and shareholder approval. finance across ICD member countries. held in Rajab 1420H (November 1999) in proposed name Saudi National Bank

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Doha Bank Announces the Launch of Doha Bank Easy Pay Wallet

Launching Doha Bank latest innovation, Doha Easy Pay Wallet: Dr. R. Seetharaman, Group Chief Executive Officer of Doha Bank

oha Bank, one of the largest pri- always provide our customers with easy, taining the performance of the bank under vate commercial banks in Qatar, safe and secure banking.” Braik Al-Marri, the current volatile economic conditions. has announced the launch of Chief Retail Banking Officer, commented; Due to the effective and inspiring leader- D Doha Bank Easy Pay Wallet. “We are proud to surpass expectations by ship and the strategic visions adopted by Customers can enjoy quick, safe, and providing unrivalled banking methods to Doha Bank, the bank has been consistently seamless payments by adding their Doha our dear clients. We will continue to seek registering strong growth rates during the Bank Credit or Debit Cards to their Doha new ways satisfy our customer’s needs.” last decade and maintaining the highest Easy Pay bringing a new dimension to Doha Bank customers can now down- performance level in terms of growth their wallet. load Doha Bank Easy Pay Wallet from the in total assets, loans, deposits and share- Customers can download Doha Easy Apple Store and Google Play Store. holder’s equity. Pay App from the Apple Store or the Doha Bank operations are geographi- Doha Bank has received numerous Google Play Store which enables them cally spread across strategic locations in awards in recognition of its achievements. to perform quick, safe, and seamless pay- Qatar. The bank also operates 6 full-fledged Doha Bank was adjudged as the ‘Best Re- ments for their retail purchases by simply branches in UAE, Kuwait and India, and has gional Commercial Bank’ – The Banker scanning the QR Code. In addition, Doha representative offices across the globe en- Middle East for the 4th straight year. Doha Easy Pay also enables the users to make compassing a robust and strategic network Bank was recently awarded as ‘Bank of the fund transfers to beneficiaries instantly of correspondent banking relationships. Year – Qatar Domestic Trade Finance’ by by linking their Doha Bank Debit Card to The strategic vision of the Board of Asian Banking & Finance. Additionally, Doha Easy Pay wallet. Directors of Doha Bank is to position the Doha Bank has in the past claimed various Dr. R. Seetharaman, Group CEO of bank at par with leading banks at the other awards such as, ‘Bank of the Year’ – Doha Bank, said: “We are excited to an- local and regional levels, and to have a The Banker, ‘Best Commercial Bank in the nounce the launch of our latest innova- global foothold by opening branches or Middle East’ – Global Banking & Finance, tion, Doha Easy Pay Wallet. Our com- representative offices in the countries that ‘Bank of the Year’ – ITP Group, , ‘Best Bank mitment is to provide our clients with have bilateral trade relationships with in Qatar’ – IAIR Award and ‘Best Bank in the latest technological advancements. Qatar and GCC countries. It also includes Qatar’ – EMEA Finance. We have an unrelenting commitment to diversifying the source of income and sus-

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Judges from France interrogate Lebanese-French from State Oil Marketer SOMO, the military said. --- Reuters An out-of-control dumper truck crushed fifteen people to death nami two and a half years ago that killed thousands. businessman Ziad Takieddine 1 dead, 24 migrants rescued on Greek island of Lesbos as they slept by the roadside in western India, authorities said. “The latest information we have is that 26 people are dead... Lebanese-French businessman Ziad Takieddine was interro- The Greek coast guard says it has rescued 24 people and recov- The dead included a baby girl, eight women and six men, said in Mamuju city,” said Ali Rahman, head of the local disaster gated by three judges who came from France to hear him over ered the body of one man from the southern part of the Aegean police official Usha Rada in the Suraj district of Gujarat state. Six mitigation agency, adding “that number could grow”. his involvement in the funding of Nicolas Sarkozy’s electoral island of Lesbos, while a search and rescue operation has been others were injured. campaign in cash from late Libyan president Moamer Kadhafi. launched for potentially missing people. The truck collided with a tractor carrying sugarcane just Berlusconi hospitalised with heart problem: Doctor The hearing session took place at the Cassation Courtroom The 25, believed to be migrants who had arrived from nearby after midnight at a crossroads. Former Italian premier Silvio Berlusconi has been admitted to in the Justice Palace of Beirut, in presence of Prosecutor Imad Turkey, were located on an inaccessible part of the island’s coast “The dumper driver... lost control of the vehicle and went off hospital in Monaco after suffering heart problems, a spokesman Qabalan and Takieddine’s lawyer. lately and were transported from the area by a coast guard vessel, the road, crushing labourers sleeping on the roadside,” deputy and his doctor said. The 84-year-old media tycoon “is at the Car- the coast guard said. A helicopter and several coast guard vessels police superintendent C M Jadeja said. diothoracic Hospital in Monaco for tests. He will return home Kingdom of Morocco Expresses Satisfaction with were searching the area following reports from the migrants that Police said that the drivers of both the dumper truck and the within a few days”, his spokesman told AFP. YouTube removes positive development of relations between Saudi there could be a further three people missing. tractor have been arrested. new content uploaded to Trump’s channel ---Reuters Arabia and Qatar The coast guard said it was not immediately clear how High-speed vehicles jostling with motorbikes, pedestrians The Ministry of Foreign Affairs, African Cooperation and Mo- the group arrived or what had happened to their boat.—AP and cyclists combine with poor infrastructure and poorly main- Malaysian king declares state of emergency to fight virus roccans Abroad said in a statement that, given the strong ties tained vehicles to make India’s roads treacherous. In 2019 more Malaysia’s king declared a nationwide state of emergency to and sincere affection uniting His Majesty King Mohammed VI Amnesty Int’l reprimands France over weapons used than 150,000 people died -- 410 every day or 17 an hour in almost fight a coronavirus surge that is overwhelming hospitals, with and his brothers, the leaders of the countries of the Arab Gulf, against peaceful protesters in Lebanon half a million accidents, according to the government. ----AFP critics charging it was a move by an unstable government to Morocco expresses the hope that these developments constitute Amnesty International lately urged Paris to halt weapons sales cling to power. the beginning for the reunification and the establishment of to Lebanon, saying French-manufactured rubber bullets, tear Clashes erupt in Sudan’s south Darfur, killing 20 The announcement came a day after the prime minister mutual trust as well as for overcoming this crisis in order to gas grenades and launchers had been used to quell peaceful Tribal clashes broke out lately in Sudan’s South Darfur state, kill- introduced sweeping new curbs across much of the Southeast consolidate the unity within the Gulf family. demonstrations. ing at least 20 people, a tribal leader said, shortly after violence Asian nation, including the closure of most businesses, and The Kingdom of Morocco commends the efforts undertaken “France has for years been supplying Lebanese security in a neighbouring state killed over 80 people. warned the health system was “at breaking point”. by the brotherly State of Kuwait as well as the constructive role forces with law enforcement equipment that they then used to “A force from the Arab Rizeigat tribe killed 20 people in an attack Sultan Abdullah Sultan Ahmad Shah agreed to declare of the United States in this regard, the statement added. --- MAP commit or facilitate serious human rights violations,” the group on the village of Saadoun inhabited by the Fallata tribe using vehi- an emergency until August 1 following a request from Prime NEWS said in a statement. cles, motorcycles and camels,” said tribal leader Mohamed Saleh. Minister Muhyiddin Yassin in a Monday meeting, the national “We call on France to ensure that there are no further sales “The attack left several houses burned,” said Saleh, from the palace said in a statement. The move allows for the suspension GCC summit in AlUla: GCC leaders vow joint action until the Lebanese authorities have acknowledged past viola- ethnically non-Arab Fallata tribe, adding that bodies were still of parliament and political activities, such as local elections, against challenges tions,” said Aymeric Elluin, advocacy officer on arms transfers being counted. Recent violence came after the killing of at least and comes at a time Muhyiddin’s highly unstable, 10-month-old The leaders of the GCC countries signed the final communique at Amnesty International France. 83 people in clashes between Arab and non-Arab tribes over two government is facing a host of challenges. of the 41st GCC Summit which calls for unity and joint action “Lebanese security forces are operating in a climate of impunity.” days in Sudan’s West Darfur state.--AFP Key allies in his ruling coalition are threatening to withdraw to combat threats against GCC’s security. French-manufactured rubber bullets, tear gas grenades support, which could lead to the collapse of the government and In a press conference, Saudi Foreign Minister Prince Faisal and launchers have been used repeatedly since the start of an Largest vaccination drive in the world starting in India snap national polls that some fear could worsen the outbreak. Bin Farhan said the agreement reached between the GCC leaders unprecedented anti-government protest movement in October with 2 “Made in India” vaccines Malaysia kept the virus in check for much of last year with calls for joint cooperation to combat any threats to Gulf security 2019, according to the rights group. Indian Prime Minister Shri Narendra Modi will launch the a tough lockdown but, once curbs were eased, cases accelerated and not to compromise the GCC’s sovereignty. They were also used in 2015 to disperse protests over a waste pan India rollout of COVID-19 vaccination drive on 16th Janu- and have repeatedly hit fresh records in recent days. The “AlUla Declaration” reaffirms the need to enhance the management crisis that saw trash pile up across the capital, it added. ary, 2021 at 10:30 AM via video conferencing. This will be the The emergency could be lifted earlier if the rate of infection role of the Gulf Cooperation Council by coordinating political Amnesty said its findings were based on analysis of more than world’s largest vaccination program covering the entire length slows, the palace statement added. stances between its countries. 100 videos of protests in Beirut, as well testimonies and medical and breadth of the country. A total of 3006 session sites across A election in the state of Sabah last year has been blamed The declaration highlights the importance of strengthening records collected by researchers on the ground. all States and UTs will be virtually connected during the launch. for triggering a new wave of infections that spread nationwide. military integration between the GCC states to encounter chal- It accused security forces of firing tear gas cannisters directly at Around 100 beneficiaries will be vaccinated at each session site But critics expressed worries that the declaration -- rarely lenges facing the region. protesters, as well as shooting rubber bullets at chest-level, some- on the inaugural day. This vaccination programme is based on used in Malaysia -- was a gambit to cling to power by Muhyiddin “The declaration calls for protecting the national unity of times from close range, between October 2019 and August 2020. the principles of priority groups to be vaccinated and Health Care that could erode civil liberties. signatory countries and combat any threats to the Gulf security Security forces also used French-made armoured vehicles, workers, both in government and private sectors including ICDS Marina Mahathir, an activist and the daughter of former ,” Bin Farhan said. it added. Amnesty called the role of French law enforcement workers, will receive the vaccine during this phase. prime minister Mahathir Mohamad, tweeted that an emergency He said the agreement has turned a new chapter in the GCC equipment in the crackdown on demonstrations “shameful”. The vaccination programme will use Co-WIN, an online digi- declaration was a “declaration of failure”. march and put an end to all differences with Qatar. “Today’s “There has been no effective investigation of the unlawful tal platform developed by Union Ministry of Health and Family Muhyiddin first tried persuade the king to declare an emer- agreement put an end to differences with Qatar. The AlUla use of weapons, including those made in France, against peace- Welfare, which will facilitate real time information of vaccine gency in October but was rebuffed.----AFP Declaration is an achievement that will reflect on the region’s ful protesters, and not a single security officer has been held to stocks, storage temperature and individualized tracking of ben- stability,” the Foreign Minister said. account by judicial authorities,” Elluin said.-(AFP) eficiaries for COVID-19 vaccine. This digital platform will assist Closure of January 2021 Issuance under Saudi Ara- “The political will of the GCC leaders is the major guarantee programme managers across all levels while conducting vaccina- bian Government SAR-denominated Sukuk Program to implement the AlUla agreement,” Bin Farhan said. Magnitude-6.4 Quake Hits Argentina: USGS tion sessions. Adequate doses of both COVISHIELD and COVAXIN The National Debt Management Center has announced that it He emphasized that the GCC countries will work as a unified A 6.4-magnitude earthquake shook western and central Argen- have already been delivered across the country to all States/UTs has closed the January 2021 issuance under the Saudi Arabian entity to deal with challenges facing the region, particularly the tina, the United States Geological Survey said, but there were no with the active support of the Ministry of Civil Aviation. These Government SAR-denominated Sukuk Program. The issuance Iranian threat.-- Gulf News immediate reports of casualties or significant damage. have been further delivered by the State/UT governments to the size was set at SAR 2,955 billion (two billion and nine hundred The quake struck at 11:45 pm local time (02:45 GMT Tuesday) districts. All preparations are in place to initiate the programme fifty-five million SAR). Iraq evacuates oil tanker after mine found attached to hull at a depth of 20 kilometers, according to the USGS. on the principles of Jan Bhagidari.—Indian Embassy in Lebanon The Center said that the Sukuk issuances were divided into An Iraqi oil tanker was evacuated after a mine was discovered The epicenter was near the town of Pocito, in San Juan prov- two tranches as follows: The first tranche has a size of SAR 2,075 attached to its hull, the military said, adding that a government ince, about 1,000 kilometers (620 miles) from Buenos Aires and At least 34 killed as quake rocks Indonesia billion (two billion and seventy-five million SAR) and a total explosives team was still working to make the vessel safe. near the border with Chile, it added. Some towns in San Juan A powerful earthquake rocked Indonesia’s Sulawesi island early tranche size of SAR 2,075 billion (two billion and seventy-five The tanker was located in international waters about 28 were temporarily without power due to the tremor. Friday (Jan 15), killing at least 34 people, levelling a hospital and million SAR), matures in 2028. nautical miles (52 km) off shore and supplying another ship with The quake was also felt in the provinces of Mendoza, Cor- severely damaging other buildings, authorities said. The second tranche has a size of SAR 880 million (eight hun- fuel when the device was discovered, they said in a statement. doba, Santa Fe, La Rioja and Buenos Aires. -----AFP Hundreds more were injured when the 6.2-magnitude quake dred eighty million SAR), and a total tranche size of SAR 880 mil- It was not immediately clear how the mine became attached struck in the early hours, triggering panic among the terrified lion (eight hundred eighty million SAR), matures in 2033.--SPA to the tanker, which was being rented by an unidentified client Out-of-control truck kills 15 on Indian roadside residents of the island, which was hit by a huge quake and tsu-

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France says Iran is building nuclear weapons capacity, As the Kingdom of Saudi Arabia continues to make strides in to be honoured by US President Donald Trump when he was be- the United States and other adversaries in the event of war. urgent to revive 2015 deal the fight against COVID-19, a major breakthrough has hap- stowed the American Legion of Merit, Degree of Chief Commander. There have been periodic confrontations between Iran’s Iran is in the process of building up its nuclear weapons ca- pened by a Saudi doctor. The award is granted by US presidents to foreign leaders in military and U.S. forces in the Gulf since 2018, when Trump pacity and it is urgent that Tehran and Washington return to a Dr. Iman Al Mansour from Iman Abdulrahman Bin Faisal recognition of close ties and outstanding achievements. abandoned Iran’s 2015 nuclear deal with world powers and 2015 nuclear agreement, France’s foreign minister was quoted University and Ph.D. holder in Biomedical Engineering and Trump bestowed the award on King Hamad “in recognition reinstated harsh sanctions against Tehran. as saying in an interview published. Biotechnology-University of Massachusetts has just developed of his remarkable efforts to strengthen the Bahrain-US friendship President-elect Joe Biden has said the United States will rejoin Iran has been accelerating its breaches of the nuclear deal Saudi Arabia’s very first COVID-19 vaccine while being an assis- relations and solid partnership”, state-run Bahrain News Agency the nuclear deal “if Iran resumes strict compliance”. --- Reuters and earlier this month started pressing ahead with plans to en- tant professor at the university. Per the university, the preclinical reported lately. The award comes days after the US named Bah- rich uranium to 20% fissile strength at its underground Fordow studies of the developed vaccine have been completed and the rain and UAE as major security partners in recognition of the Erdogan says wants EU ties ‘Back On Track’ nuclear plant. That is the level Tehran achieved before striking research has been published. Once the necessary approvals have countries’ long-standing military co-operation. Trump expressed Turkish President Recep Tayyip Erdogan said he wanted to the deal with world powers to contain its disputed nuclear ambi- been given clinical trials will commence. pleasure at presenting the Legion of Merit to King Hamad. improve relations with the European Union and was hoping tions. The Islamic Republic’s breaches of the nuclear agreement As per research findings published in the scientific Phar- Trump said that “under King Hamad’s decades of steady for the same “goodwill” from the 27-nation bloc. since President Donald Trump withdrew the United States from maceutical Journal, the vaccine now enters the trial phase and leadership as Crown Prince, Emir and King, Bahrain has proved Erdogan’s comments follow a year of tensions involving it in 2018 and subsequently imposed sanctions on Tehran may has now adopted a DNA technology which no longer requires to be an indefatigable ally of the US”, the agency reported. Turkey’s more assertive foreign policy in the eastern Mediter- complicate efforts by President-elect Joe Biden, who takes office freezing, thanks to Dr. Iman Al-Mansour on this Saudi milestone. He also noted Bahrain’s assistance in hosting the US Fifth ranean as well as Libya and parts of the Middle East. on Jan. 20, to rejoin the pact. While about 60,000 people have already been inoculated Fleet, giving the US a maritime foothold in the Gulf region.—The Turkey’s relations have become especially strained with “The Trump administration chose what it called the maxi- with the vaccination in the Kingdom, more than two million National News Greece and European power France as a result. mum pressure campaign on Iran. The result was that this strategy people have registered for the vaccine in the first month after But the Turkish leader has softened some of his toughest only increased the risk and the threat,” Le Drian told the Journal the registration process was launched. Qatar’s foreign minister wants Gulf Arab nations to rhetoric and took a conciliatory tone in a televised meeting with du Dimanche newspaper. Congratulation to Dr. Iman Al Mansour for achieving this talk with Iran: Bloomberg EU ambassadors in a presidential compound in Ankara. “We “This has to stop because Iran and - I say this clearly - is in phenomenal milestone in Saudi’s history. Qatari Foreign Minister Sheikh Mohammed bin Abdulrah- expect our European friends to show the same goodwill.”--AFP the process of acquiring nuclear (weapons) capacity.” man Al-Thani told Bloomberg that Qatar has urged Gulf Arab The agreement’s main aim was to extend the time Iran would UN Secretary-General appoints Jan Kubis of Slovakia nations to enter a dialogue with Iran and that it was the right Lebanon begins new lockdown amid surge in coro- need to produce enough fissile material for a nuclear bomb, if it as his Special Envoy on Libya time for Doha to broker negotiations. navirus cases so chose, to at least a year from roughly two to three months. It United Nations Secretary-General António Guterres announced “This is also a desire that’s shared by other GCC (Gulf Co- Lebanon began a 25-day nationwide lockdown to limit the also lifted international sanctions against Tehran. lately the appointment of Ján Kubiš of Slovakia as his Special operation Council) countries,” he told Bloomberg TV bloom. spread of the coronavirus as infections hit a record high in Western diplomats have said Iran’s repeated breaches have Envoy on Libya and Head of the United Nations Support Mis- bg/369WLz9 in an interview. the tiny Mediterranean nation and patients overwhelmed the already reduced the “breakout time” to well below a year. sion in Libya (UNSMIL). This position is established pursuant The Qatari foreign minister added that his government was health care sector, said AP. Iran denies any intent to weaponise its nuclear programme. to Security Council resolution 2542 (2020). supporting ongoing discussions between Iran and South Korea The lockdown in Lebanon is the third since the first case With presidential elections in Iran due in June, Le Drian said The Secretary-General is grateful for the commitment and to secure the release of an oil tanker seized by the Islamic Revo- was reported in late February. It will close most businesses and it was urgent to “tell the Iranians that this is enough” and to bring outstanding leadership of Acting Special Representative Steph- lutionary Guard early this month. limit traffic by imposing an odd-and-even license plate rule on Iran and the United States back into the accord. anie T. Williams of the United States in moving the political Commenting separately on potential U.S.-Iran talks, he said alternating days. It also reduces the number of flights at the Biden has said he will return the United States to the deal if process forward in Libya. that Qatar will facilitate the discussions if asked and will sup- country’s only international airport. Iran resumes strict compliance with it. Iran says sanctions must Kubiš, who has served as Special Coordinator for Lebanon, port whoever is chosen to do so. “We want the accomplishment, A daily 6 p.m. to 5 a.m. curfew will be in effect as of Thursday be lifted before it reverses its nuclear breaches. Office of the United Nations Special Coordinator for Lebanon we want to see the deal happening”, he said of potential talks until Feb. 1. Also on Thursday, Lebanon broke its single-day However, Le Drian said that even if both sides were to return (UNSCOL) since 2019, brings with him many years of experience between Washington and Tehran. ---Reuters record of new coronavirus cases for the third straight day, with to the deal, it would not be enough. in diplomacy, foreign security policy, and international economic 4,774 reported infections over the past 24 hours. “Tough discussions will be needed over ballistic prolifera- relations, both internationally and in his own country. Iran fires longrange missiles into Indian Ocean in It came after a holiday season in which tens of thousands of tion and Iran’s destabilisation of its neighbours in the region,” He previously served as Special Representative of the Secre- military drill media visitors flew into the country to celebrate Christmas and New Le Drian said. --- Reuters tary-General and Head of the United Nations Assistance Mission Iran’s Revolutionary Guards fired long-range ballistic missiles Year’s. Lebanon also reported 16 new coronavirus deaths on in Iraq (UNAMI), from 2015 to 2018, and as Special Representa- into the Indian Ocean on the second day of a military exercise, Thursday, bringing the number of total cases in the small Medi- Trump awards Bahrain ruler US Legion of Merit tive of the Secretary-General and Head of the United Nations state media reported. terranean country to over 200,000, with more than 1,500 deaths. Bahrain’s King Hamad became the latest leader in the Middle East Assistance Mission in Afghanistan (UNAMA) from 2011 to 2015. The drill, which comes in the waning days of high tensions In Beirut’s commercial Hamra district, many shops were to be honoured by US President Donald Trump when he was be- He was the Executive Secretary of the United Nations Economic with U.S. President Donald Trump’s administration, was con- closed as of morning hours. Police patrols drove by to make sure stowed the American Legion of Merit, Degree of Chief Commander. Commission for Europe (UNECE) from 2009 to 2011, Minister ducted in the country’s central desert region. the lockdown was implemented and motorists who violated the The award is granted by US presidents to foreign leaders in for Foreign Affairs in Slovakia from 2006 to 2009, Chairman of It followed Friday’s testing of surface-to-surface ballistic lockdown orders were fined. recognition of close ties and outstanding achievements. the Committee of Ministers of the Council of Europe from 2007 missiles and locally manufactured new drones in the same area. First responders in the country hit by a severe economic Trump bestowed the award on King Hamad “in recognition to 2008, and Secretary-General of the Organization for Security “One of our most important defense policy goals is to use crisis say they have been transporting nearly 100 patients a of his remarkable efforts to strengthen the Bahrain-US friend- and Co-operation in Europe (OSCE) from 1999 to 2005. long-range ballistic missiles against enemy warships, including day to hospitals, which are now reporting near-full occupancy, ship relations and solid partnership”, state-run Bahrain News Kubiš also served as the European Union’s Special Repre- aircraft carriers and warships,” state media quoted Guards com- including in intensive care units. Agency reported lately. sentative for Central Asia with the office in Brussels and as the mander Major General Hossein Salami as saying. Lebanon saw new infections start to increase during the sum- The award comes days after the US named Bahrain and UAE Personal Representative of the Chairman-in-Office of OSCE for With these missiles, which have a range of 1,800 kilometres, mer, following a massive explosion in Beirut’s port in August as major security partners in recognition of the countries’ long- Central Asia, as the United Nations Special Representative of the he said, “we can now strike moving targets in the ocean,” instead that shook the city and its heath sector, killing over 200 people standing military co-operation. Trump expressed pleasure at Secretary-General for Tajikistan and Head of the United Nations of the usual low-speed cruise missiles. and injuring 6,000. August’s numbers increased by over 300% presenting the Legion of Merit to King Hamad. Mission of Observers in Tajikistan from 1998 to 1999. He was Saturday’s drill targets were in the Gulf of Oman and the from July as a result and have since been climbing. Trump said that “under King Hamad’s decades of steady previously the Director of OSCE’s Conflict Prevention Centre northern Indian Ocean. leadership as Crown Prince, Emir and King, Bahrain has proved and worked at the Ministry of Foreign Affairs of the former Chief of Staff General Mohammad Baqeri said while Iran had Arab Parliament to launch professional diploma in to be an indefatigable ally of the US”, the agency reported. Czechoslovakia from 1976 to 1992 and thereafter at the Ministry “no offensive intentions”, it would now be able to “respond to Arab parliamentary diplomacy He also noted Bahrain’s assistance in hosting the US Fifth of Foreign Affairs of Slovakia. In 1993 he served as Permanent any hostile and malicious act in the shortest time”. Arab Parliament Speaker Adel Al Assoomi has announced the Fleet, giving the US a maritime foothold in the Gulf region.— Representative of Slovakia to the United Nations Office and other Lately, Iran tested short-range naval missile in the Gulf and launch of the first certified professional diploma in parlia- thenationalnews International Organizations in Geneva.—UNIC there were exercises earlier this month that featured a wide array mentary diplomacy. of domestically produced drones. The course is organized by the Arab Parliamentary Di- A female doctor has developed Saudi Arabia’s first Trump awards Bahrain ruler US Legion of Merit Iran has one of the biggest missile programmes in the Middle plomacy Center of the Arab Parliament in partnership with COVID-19 vaccine Bahrain’s King Hamad became the latest leader in the Middle East East, regarding them as a deterrent and retaliatory force against prestigious Arab universities and academies in the Arab world.

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Brazil Electricity Pricing Reform Creates New Opportunities for GCC Investors

January 2021 marks a historic change for Brazil’s energy sector, hourly electricity spot pricing will create new opportunities for renewable energy investment

Why does it matter to the GCC investment community? Electricity Price Formation

new study by Mangifera Analytics took a huge step in its evolution towards attractive in the world for clean energy in- by dependable equatorial sunlight for day- The shift to hourly electricity pricing hourly spot price monitoring tool to provide explores the details of this change a greener, more efficient, and increasingly vestments. Brazil also ranks third globally in time generation, the shift to hourly pricing also creates an entirely new investment insight for all those exploring the change and demonstrates, through solar investor-friendly energy market with its terms of installed capacity from renewable will provide clear benefits from recurring in- landscape, with new products, services, and what it means for their interests in A and wind case studies, why it shift from weekly to hourly electricity pric- energy sources, after only China and the traday peaks. While for Brazil’s more mature platforms designed to serve the new spot Brazil. The tool is available at mangifera-ana- matters to GCC investors. On January 1st, ing. The move comes amid ongoing reform US, according to IRENA analysis. Despite wind power sector, the reliable wind profile market. This is especially significant to GCC lytics.com alongside an in-depth new report 2021, Brazil took huge step in its evolu- that is driving an exciting new era of growth this, Brazil only ranks 7th in the world for could be exposed to higher intraday vari- investors that may have previously shunned on the new pricing system, as well as other tion towards a cleaner, greener, and more for this sleeping giant of the global energy installed wind power capacity and 22nd for ations. However, as the new study shows, the Brazilian market due to cultural distance comprehensive reports and datasets that de- investor-friendly energy market, when the landscape. A new Mangifera Analytics study solar, revealing the underlying complexity both wind and solar projects trading on an and the complexities of its antiquated elec- mystifying the complexities of the Brazilian long-anticipated shift to hourly spot pric- explores the details of this foundational holding back the hydroelectric-dominated unregulated market that is actively prioritiz- tricity price formation methodology. Brazil market while providing the hard knowledge ing comes into effect. For a market that has pricing change and demonstrates why it market. Experts now see the shift to hourly ing these sources will have chances to seize will still be a complex market but the shift that investors need to succeed in this bright been trading electricity on a weekly basis, matters to the GCC investment community. spot pricing as the trigger for a solar and significantly higher returns and carry the to modern hourly spot pricing is expected to new era for renewable energy in Brazil. the shift to hourly pricing will now track “Blessed with year-round sunshine and wind revolution in the populous and power- burden to manage that exposure. trigger an era of rapid growth that will be im- Born in Brazil —offices in Europe, Asia, much shorter-term fluctuations in supply reliable wind, there has never been any hungry South American nation. The new report explains how the intro- possible for investors in the GCC to ignore. and North America— Mangifera Analytics and demand, creating new opportunities doubt about the potential of renewable In Brazil’s solar power sector, supported duction of hourly spot pricing will benefit “Brazil has always had a complex energy offers actionable market intelligence on the and substantial benefits across the board. energy in Brazil. However, developing an investors, generators, and the grid itself. market but ongoing reform is increasingly Brazilian energy sector. Through in-depth As an Introduction to hourly PLD & its effective renewable energy sector is not Rachel Andalaft, CEO of Power purchase agreements as well as trad- converting that potential into tangible busi- reports and comprehensive datasets, our Impacts on renewable energy, this in-depth just about geography, the real challenge is Mangifera Analytics: ers operating in the unregulated market will ness cases, at least for those who know how network of local experts provides unrivaled report reveals the new market mechanics creating a business environment that drives now benefit from price spreads at an hour- to navigate Brazil’s dense legal and regula- insider knowledge and up-to-date informa- and clarifies the underlying calculation investment into the sector,” says Rachel by hour scale and will have the flexibility tory jungle,” says Rachel Andalaft, CEO of tion to provide investors the insight they model, while providing specific case studies Andalaft, CEO of Mangifera Analytics. The January shift to hourly to strategize different sources of energy. Mangifera Analytics. “That’s the mission need to succeed in this promising new era for wind and solar power projects. The shift “The January shift to hourly spot pricing spot pricing is a pinnacle of Specially solar and wind power present a behind Mangifera Analytics. To make Bra- for renewable energy in Brazil. to hourly PLD will create an entirely new is a pinnacle of the ongoing reform across the ongoing reform across the profitable case for generators seizing new zil’s expert insider-knowledge available to In addition, Mangifera Analytics pro- investment landscape, with new products, the Brazilian energy sector and as our recent Brazilian energy sector, creating opportunities in the spot market. The shift the GCC investment community, to create vides a range of tailored services, from services, platforms designed to serve the study shows, it will create significant new significant new opportunities also incentivizes energy storage, which ena- the bridges and channels that will drive the financial modeling to bespoke reports and new spot market, making this report an opportunities for savvy energy investors in for savvy international energy bles unprecedented flexibility for consum- investments and returns required to drive customized datasets, as well as one-to-one invaluable resource for anyone considering the GCC and around the world.” investors” ers and the grid, providing balance for a Bra- Brazil’s renewable energy evolution.” consulting. Mangifera is a one-stop-shop or developing projects in this new era for According to Bloomberg’s 2019 Climate- zilian grid that is striving to prioritize solar To support GCC analysts and investors, for all investor data, analysis, and project Brazilian energy.The Brazilian energy sector scope report, Brazil now ranks third most and wind generation in the decades ahead. Mangifera Analytics has also created a free development needs.

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Healthcare and Life Sciences Deal Activity Will Be Robust in 2021

Volume of deals rises 15% aided by late 2020 surge, despite pandemic -- Growing valuations seen in biopharma, healthcare IT, diagnostics subsectors, executives say in survey

he healthcare and life sciences deal Larry Kocot, national leader of the KPMG able to maintain non-COVID-related testing markets were active in 2020 and Center for Healthcare Regulatory Insight. at the same time. And as regulatory require- promise to continue to be robust “Our outlook contextualizes a number ments were waived to allow broader use of T into 2021, even amid the COVID-19 of variables impacting investment and telehealth during the pandemic, technolo- pandemic, according to the KPMG 2021 provides a sector-by-sector analysis to help gies to enable virtual visits were adopted Healthcare and Life Sciences Investment investors assess the opportunities and chal- by providers at an accelerated pace. This Outlook survey. lenges of investing in the year ahead.” trend not only benefitted tech companies, Investors are making bold moves in 2020: Variations across Sectors but also allowed hospitals and physician some subsectors, based on confidence about The global pandemic impacted health- practices to continue seeing patients while the future, reflected in already high valua- care and life sciences very differently in complying with social distancing mandates. tions that will continue into 2021, as echoed 2020. In healthcare, elective surgeries, “COVID-19 created a new challenge for by nearly half of survey respondents. regular wellness visits, and chronic illness healthcare and life sciences companies to in- Medical Devices Technology Roadmap to 2030: Patient and consumer data sharing technologies will complement the four medical device categories “While the dollar value of deals across checkups were put on hold, putting the novate both in bringing products to market below by 2030-Source: KPMG healthcare and life sciences was lower in sector on a rollercoaster in terms of patient to combat the pandemic and offering new 2020 than in 2019, the M&A market was volume. Healthcare deals slowed in the products and services that support evolving For example, the boost that the biophar- reporting that they saw valuations increase these subsectors,” Glover said. “Looking to extremely active during the second half second quarter but accelerated through modes of care delivery,” says Kristin Pothier, maceutical subsector received from billions in 2020. The focus on early-stage cell and 2021, we expect organizations in certain of the year and early indicators point to a the end of the year. In life sciences, there KPMG global healthcare and life sciences of dollars of pre-orders for COVID-19 vac- gene therapies and antibody-drug conju- subsectors to successfully complete acquisi- very active 2021,” said Brett Glover, KPMG were steady transactions throughout the deal advisory and strategy leader. “In some cines and treatments allowed companies gates is expected to continue in 2021, with tions that were put on hold in 2020, while U.S. healthcare & life sciences deal advisory year despite high valuations, driven in part ways, the pandemic served as a catalyst for to continue to make bets on high-priced an increasing use of creative deal structures. others will deploy capital by pursuing plat- leader. “And the trend we saw in life sciences by optimism fueled by government invest- long-awaited changes in certain subsectors.” breakthrough drugs for rare diseases, such Diagnostics manufacturer deal volume form expansion and bolt-on acquisitions or in 2020 toward smaller tuck-in deals, strate- ment in COVID-19 vaccines and treatments, 2021: Resilience and Transformation as cell and gene therapies and antibody-drug is expected to increase in 2021, with 63% investing internally to improve operational gic partnerships, and joint ventures is likely as well as ongoing activity and interest in In both healthcare and life sciences, the conjugates. And although medical device of survey respondents saying that moving efficiencies.” to continue in 2021, many using creative breakthrough drugs. companies in the reviewed subsectors can manufacturers that lean heavily toward into COVID-19 testing has allowed their KPMG LLP is the U.S. firm of the KPMG payment models.” Many healthcare organizations, as well be indexed in terms of their (1) resilience, devices used in elective surgeries were hard companies to make more deals. global organization of independent profes- KPMG’s 2021 Healthcare and Life Sci- as diagnostics and medical device makers, i.e., the ability to withstand and embrace hit this year, many others are making large Telehealth companies received the sional services firms providing audit, tax ences Investment Outlook provides insights ranked COVID-19 as one of the top two significant change, not just through COVID, numbers of tuck-in deals based on future majority of the record-breaking $6.5 billion and advisory services. The KPMG global to investors based upon a comprehensive factors affecting deal activity in both 2020 but in general, and, (2) transformation, i.e., market need for either diversification or in funding provided to the digital health organization operates in 146 countries and analysis of ten industry subsectors and the and 2021. In contrast, biopharma and phar- commitment to continuous innovation in concentration in one therapeutic area. sector during the first six months of the territories and has close to 227,000 people policy and regulatory environments in maceutical services company executives order to evolve and align with the changing “With the exception of a few, very pandemic, and the subsector ranks among working in member firms around the world. which they operate. The outlook includes an ranked valuation and competition for a needs of patients and the public. These fac- specific subsectors, most companies have survey respondents as the most attractive Each KPMG firm is a legally distinct and analysis of 2020 deal activity, followed by an limited number of high-value or innovative tors have influenced expectations of rising rebounded and deal making has resumed healthcare IT subsector for investment in separate entity and describes itself as such. overview of each subsector for 2021 viewed targets as larger factors influencing deal valuations for biopharma, healthcare IT, and globally with a focus on cell and gene the next 12-24 months. KPMG International Limited is a private through the lens of recent and future eco- activity in both years. diagnostics companies. therapies, healthcare IT, lab services, and Behavioral health roll-ups are expected English company limited by guarantee. nomic, business, and policy developments. Although the pandemic challenged “Resilience and transformation are precision medicine-based therapeutics and to increase in 2021 to meet the needs of an KPMG International Limited and its related “The 2021 KPMG Investment Outlook companies in all subsectors, those that fared inextricably intertwined,” Kocot said. “An diagnostics that use cutting-edge science to increasing volume of patients suffering entities do not provide services to clients. leverages insights gleaned from a survey of best launched opportunistic and/or defen- investor’s outlook could depend on where improve the public’s health and well-being,” from depression, anxiety, and substance use KPMG is widely recognized for being a nearly 300 industry leaders who provide sive investment strategies, e.g., acquiring a company falls within the intersection of Pothier said. disorders during the pandemic. great place to work and build a career. Our their perspectives on how the COVID-19 products and services to meet COVID-19-re- these two concepts. While some of what we Select subsector highlights “The level of activity in the healthcare people share a sense of purpose in the work pandemic, evolving market factors, and lated needs. For example, diagnostics manu- saw this year was surprising, certain subsec- Biopharma experienced the most active and life sciences deal market – even in the we do, and a strong commitment to com- the political and policy environment may facturers and labs pivoted to COVID-19 test- tors that have historically shown resilience deal market in history with 384 deals, with face of a pandemic -- -speaks to the solid munity service, inclusion and diversity, and impact investment decisions in 2021,” says ing, although only some organizations were and agility continued to do so.” 82% of surveyed pharmaceutical executives fundamentals of companies in many of eradicating childhood illiteracy.

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افتتاح املقر اجلديد ملعهد التأمني ىف مصر التابع لالحتاد GlobeMed Egypt Announces New املصرى للتأمني اليوم السبت املوافق 16 يناير Cancer Bulletin 2021

GlobeMed Egypt Releases the Cancer Bulletin Depicting New Cancer Cases among its Population of insured members

GlobeMed Egypt experience. Female population Breast cancer is the leading type of cancer in women and overall represent- ing 1 in every 6 cases. Leukemia comes in second place followed by lymphoma, colon cancer, brain & nervous system. Male population Leukemia tops the list of most likely to occur below 40 years of age, while colon and prostate cancers top the list after the age of 60. Other types of cancer are in the lymphatic system, the brain and the nervous system appearing in males between 20 & 50 years of age. This study shows that the increase in cancer cases might be due to the increase in the early detection tests as a result of increased awareness programs about cancer. Thanks to advances in medical research, remarkable progress is being made against cancer. However, the study is a clear reminder that more effort is needed under prevention and early detection of cancer which signifi- cantly increases survival rates and at the same time reduces treatment costs. To read the full bulletin, please visit GlobeMed Egypt website www. globemedegypt.com Cancer incidence rates are increasing with an overall average annual increase of 6.5%: Mounir Kharma, GlobeMed Chairman

lobeMed recognizes the im- portfolio, revealed notable findings: portance of spreading aware- - Cancer incidence rates are in- ness about prevention & early creasing with an overall average annual G detection to halt the spread of increase of 6.5%, averaging around 362 cancer. As part of these efforts, GlobeMed new cancer cases per 100,000 persons. has finalized an exhaustive research - Around 20% of all new cancer about cancer in Egypt based on its expe- cases occur in the blood and lymphatic rience and the information available to system, followed by the digestive sys- GlobeMed Egypt at the date of this study. tem and breast at about 17% each. The study, with data covering 6 years Those three locations account for more GlobeMed Egypt releases the Cancer Bulletin: Depicting New Cancer Cases from 2014 to 2019 on GlobeMed Egypt’s than 54% of all cancer cases under among its Population of insured members

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افتتاح املقر اجلديد ملعهد التأمني ىف مصر التابع لالحتاد عالء الزهريي يفوز جبائزة رجل التامني لعام ٢٠٢١ بالشرق املصرى للتأمني اليوم السبت املوافق 16 يناير 2021 االوسط وشمال افريقيا

رئيس الهيئة العامة للرقابة المالية واألستاذ عالء الزهيرى رئيس االتحاد المصرى للتأمين ورئيس مجلس إدارة المعهد وبحضور لفيف من قيادات ورؤساء شركات التأمين العاملة في مصر وكانت الجمعية العامة لالتحاد المصرى للتأمين قد وافقت على تقديم دعم بقيمة 5 ماليين جنيه لتمويل المقر الجديد للمعهد ايمانا منها بأهمية التدريب والدراسات المهنية في االرتقاء بقطاع التأمين المصرى. وجدير بالذكر ان معهد التأمين بمصر أنشئ عام 1975 وتم انضمامه لمعهد التأمين القانوني بلندن في عام 1976 من خالل المؤتمر العام الذى عقد بمدينة كوفينترى بالمملكة المتحدة ، حيث اصبح المعهد األول من نوعه في المنطقة العربية ، كما يعتبر المعهد الثامن عشر في ترتيب أنشائه عالميا. وهو مركز دولى معتمد بالدول العربية واالفريقية واالسيوية المتحانات المعاهد الدولية ومعهد التأمين القانوني بلندن ومعهد إدارة تأمينات الحياة ومعهد اكتتاب تأمينات الممتلكات والمسئوليات بالواليات المتحدة االمريكية. وقد أنشئ المعهد لتحقيق هدفين رئسيين وهما : -1 نشر الثقافة التأمينية على مستوى رفيع من التخصص الفني في سوق التأمين . -2 العمل على تزويد السوق المصرى والعربى للتأمين باجيال من الخريجين الحاصلة على درجة رفيق بمعهد التأمين القانوني بلندن ليساعدوا بعملهم في رفع المستوى المهنى لصناعة التأمين ويسعى معهد التأمين القانوني الى تحقيق أعلى درجات االلتزام بمبادئ وأخالقيات العمل سواء من العاملين او الدارسين او الخريجين وكل من يتعامل معه ويعتبر معهد التأمين بمصر ان طريق النجاح هو العمل من خالل فريق عمل متجانس من العاملين والخبراء واالستشاريين ويلتزم المعهد بتحقيق جميع االحتياجات الحالية والمستقبلية لصناعة التأمين سواء كانوا أفرادا أو هيئات باعتبار أن التطوير والتجديد المستمر هو طريق إلى التميز وقال األستاذ محمد الدشيش الرئيس التنفيذي للمعهد ان المبنى الجديد صمم وفقا الحدث التقنيات ومجهز بقاعات تدريب على اعلى مستوى باإلضافة الى غرف التحكم وكاميرات مراقبة لقاعات االمتحانات ليتواءم مع الرسالة المستهدفة للمعهد افضل رحل تامين علي مستوي الشرق االوسط وشمال افريقيا:عالء الزهيري رئيس على مستوى السوقين المصرى والعربى السيما بعد الحصول على موافقة معهد لالتحاد والعضو المنتدب للمجموعة العربية المصرية للتأمين التأمين القانوني بلندن على اجراء االمتحانات الخاصة به بمعهد التأمين بمصر اعلنت مؤسسة MENA IRومقرها لندن الفائزين بجائزة افضل عناصر التامين وقال األستاذ عالء الزهيرى رئيس االتحاد المصرى للتأمين ورئيس مجلس إدارة المعهد علي مستوي الشرق االوسط وشمال افريقيا. “يهدف المقر الجديد للمعهد التوافق مع الخطة الخاصة بتطوير وزيادة الوعى واختارت لجنة التحكيم االستاذ عالء الزهيري - العضو. المنتدب لشركة gig التأمينى وتنمية الكوادر البشرية بالسوقين المصرى والعربى والتي تتضمن التدريب للتامين ورئيس االتحاد المصري للتامين افضل رحل تامين علي مستوي الشرق وجها لوجه وعبر المنصات االلكترونية” االوسط وشمال افريقيا. وتتضمن خطة تطوير المعهد إضافة المقر الجديد تدريس بعض مناهج الدبلومات التي وتعد هذه الجائزة من اهم جوائز التامين حيث انها تعتمد باالساس علي االنجازات تقدم للدارسين باللغة اإلنجليزية وتنميتها بما يتناسب مع تطورات األسواق العالمية ويقدم التي تم تحقيقها خالل عام كامل سواء في مجال التامين او اعادة التامين معهد التأمين 4 دبلومات متخصصة بتأمينات الحياة والطبى وإعادة التأمين والتسويق . افتتاح المقر الجديد لمعهد التأمين فى مصر: رئيس الهيئة العامة للرقابة المالية واعلنت المؤسسة اسماء كافة الفائزين لجوائزها المختلفة مثل افضل شركة تامين واألستاذ عالء الزهيرى رئيس االتحاد المصرى للتأمين ورئيس مجلس إدارة ومن المعروف ان عضوية المعهد ستكون الزامية لكل الشركات العاملة بالسوق ، افضل شركة اعادة تامين ، افضل شركة وساطة تامين ، افضل رجل تامين ، المعهد وبحضور لفيف من قيادات ورؤساء شركات التأمين العاملة في مصر المصرى طبقا للنظام األساسي المعتمد من هيئة الرقابة المالية باعتباره كإحدى وغيرها الجهات المعاونة المسجلة بالهيئة وسيصبح كيان تعليمى مستقل تحت اشراف وقد اجتمعت لجنة التحكيم عبر خاصية الفيديو كونفرانس عدة مرات واعلنت قائمة االتحاد المصرى للتأمين بعد إقرار النظام االساسى من مجلس الوزراء. الفائزين في اجتماعها يوم ٢٧ يناير. إفتتح معالى وزير المالية الدكتور محمد معيط المقر الجديد لمعهد التأمين في مصر اليوم السبت الموافق 2021/1/16 وذلك بحضور المستشار رضا عبد المعطى نائب

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افتتاح املقر اجلديد ملعهد التأمني ىف مصر التابع لالحتاد ورشة عمل حول التأمني متناهي الصغر بالتعاون مع شبكة املصرى للتأمني اليوم السبت املوافق 16 يناير 2021 التأمني متناهي الصغر Microinsurance Network

اليوم السبت الموافق 2021/1/16 وذلك بحضور المستشار رضا عبد المعطى نائب في ضوء التعاون المثمر بين االتحاد المصري للتأمين وشبكة التأمين متناهي الصغر Microinsurance Network واهتمام الجهتين بالشمول التأميني والوصول رئيس الهيئة العامة للرقابة المالية واألستاذ عالء الزهيرى رئيس االتحاد المصرى للفئات التي ال تصل اليها الخدمات التأمينية. للتأمين ورئيس مجلس إدارة المعهد وبحضور لفيف من قيادات ورؤساء شركات جاري التحضير لعقد ورشة عمل افتراضية بالتعاون مع شبكة التأمين متناهي الصغر Microinsurance Network، وستكون أول ورشة عمل مقدمة من منصة االتحاد التأمين العاملة في مصر. SPI HUB والتي ستكون مسؤولة عن تقديم ورش عمل وندوات لزيادة الوعي في سوق التأمين المصري. وكانت الجمعية العامة لالتحاد المصرى للتأمين قد وافقت على تقديم دعم بقيمة هذا وتأتي ورشة العمل تحت عنوان: 5 ماليين جنيه لتمويل المقر الجديد للمعهد ايمانا منها بأهمية التدريب والدراسات المهنية في االرتقاء بقطاع التأمين المصرى. “Virtual Country workshop: Moving the Needle – Egypt” وجدير بالذكر ان معهد التأمين بمصر أنشئ عام 1975 وتم انضمامه لمعهد التأمين هذا وستعقد الورشة باللغة اإلنجليزية وذلك يوم الثالثاء الموافق 2 فبراير 2021 من الساعة 2 الي الساعة 4 عصراً. القانوني بلندن في عام 1976 من خالل المؤتمر العام الذى عقد بمدينة كوفينترى تتضمن ورشة العمل استعراض لبيانات تقرير Microinsurance Landscape 2020 / المنظور العالمي للتأمين متناهي الصغر 2020 مع التركيز على سوق التأمين بالمملكة المتحدة ، حيث اصبح المعهد األول من نوعه في المنطقة العربية ، كما متناهي الصغر في جمهورية مصر العربية وأهم التحديات والفرص للنمو بهذا السوق الحيوي، كما سيتم مناقشة العوائق والحلول الممكنة لدفع وتطوير سوق التأمين يعتبر المعهد الثامن عشر في ترتيب أنشائه عالميا. متناهي الصغر وتحقيق الشمول التأميني. وهو مركز دولى معتمد بالدول العربية واالفريقية واالسيوية المتحانات المعاهد هذا وقد صرح األستاذ عالء الزهيري رئيس االتحاد المصري للتأمين ان التعاون بين االتحاد والشبكة يأتي ضمن خطة عمل االتحاد المصري للتأمين لعام 2021 والتي الدولية ومعهد التأمين القانوني بلندن ومعهد إدارة تأمينات الحياة ومعهد اكتتاب تعتبر أحد الشراكات التي تخدم استراتيجية االتحاد في الوصول الى الفئات التي ال تصل اليها الخدمات التأمينية والتي تتماشي مع اهداف شبكة التأمين متناهي الصغر تأمينات الممتلكات والمسئوليات بالواليات المتحدة االمريكية. Microinsurance Network الخاصة بتحقيق الشمول التأميني. وقد أنشئ المعهد لتحقيق هدفين رئسيين وهما : قامت شبكة التأمين متناهي الصغر منذ نشأتها بتقديم سلسلة تقارير دولية حول التأمين متناهي الصغر تحت اسم Microinsurance Landscape والتي تمثل ًمعيارا -1 نشر الثقافة التأمينية على مستوى رفيع من التخصص الفني في سوق فريدا ًيتبع اتجاهات وتطور منتجات وخدمات التأمين متناهي الصغر في األسواق المختلفة ومدي تحقيق هذه األسواق للشمول التأميني. التأمين . وفي عام 2020 شهدت الدراسة )تقرير Microinsurance Landscape ( ألول مرة مشاركة 194 شركة ومقدم خدمات التأمين متناهي الصغر في 30 دولة في إفريقيا -2 العمل على تزويد السوق المصرى والعربى للتأمين باجيال من وآسيا وأمريكا الالتينية ومنطقة البحر الكاريبي. كما قام االتحاد المصري للتأمين بترجمة “ Microinsurance Landscape 2020 “ إلى اللغة العربية حيث ستكون الخريجين الحاصلة على درجة رفيق بمعهد التأمين القانوني بلندن ليساعدوا بعملهم هذه هي المرة األولى التي يتم فيها اصدار نسخه باللغة العربية للتقرير. في رفع المستوى المهنى لصناعة التأمين. هذا وتعتبر شبكة التأمين متناهي الصغر Microinsurance Network من أهم المنصات العالمية التي تجمع بين شركات التأمين والهيئات التنظيمية ووكاالت التنمية ويسعى معهد التأمين القانوني الى تحقيق أعلى درجات االلتزام بمبادئ وأخالقيات وواضعي السياسات إليجاد حلول تأمينية للمخاطر التي تواجه المواطنين المعرضين للخطر في العالم وتهدف إلى تحسين قدرة األسر ذات الدخل المنخفض عن طريق العمل سواء من العاملين او الدارسين او الخريجين وكل من يتعامل معه ويعتبر برامج التأمين متناهي الصغر على مستوي العالم من خالل تحسين استيعابهم للشمول التأميني والمساهمة في تحسين البيئة العامة للتأمين. هذا ويقع مقر شبكة التأمين معهد التأمين بمصر ان طريق النجاح هو العمل من خالل فريق عمل متجانس متناهي الصغر في لوكسمبورغ وتضم حوالي 400 خبير و 70 منظمة في أكثر من 50 دولة. من العاملين والخبراء واالستشاريين ويلتزم المعهد بتحقيق جميع االحتياجات هذا ومن الجدير بالذكر انه سيشارك في الورشة كال من: الحالية والمستقبلية لصناعة التأمين سواء كانوا أفرادا أو هيئات باعتبار أن التطوير والتجديد المستمر هو طريق إلى التميز. • األستاذ / عالء الزهيري، رئيس االتحاد المصري للتأمين. وقال األستاذ محمد الدشيش الرئيس التنفيذي للمعهد ان المبنى الجديد صمم وفقا • األستاذ / هشام رمضان، مساعد رئيس الهيئة العامة للرقابة المالية. الحدث التقنيات ومجهز بقاعات تدريب على اعلى مستوى باإلضافة الى غرف • األستاذة / كاثرين بولفرماخر ، المدير التنفيذي لشبكة التأمين متناهي الصغر . التحكم وكاميرات مراقبة لقاعات االمتحانات ليتواءم مع الرسالة المستهدفة للمعهد على مستوى السوقين المصرى والعربى السيما بعد الحصول على موافقة معهد • ويدير الورشة، الدكتور / طارق سيف، األمين العام لالتحاد المصري للتأمين. التأمين القانوني بلندن على اجراء االمتحانات الخاصة به بمعهد التأمين بمصر. وقال األستاذ عالء الزهيرى رئيس االتحاد المصرى للتأمين ورئيس مجلس إدارة المعهد “يهدف المقر الجديد للمعهد التوافق مع الخطة الخاصة بتطوير وزيادة الوعى التأمينى وتنمية الكوادر البشرية بالسوقين المصرى والعربى والتي تتضمن التدريب وجها لوجه وعبر المنصات االلكترونية”. وتتضمن خطة تطوير المعهد إضافة المقر الجديد تدريس بعض مناهج الدبلومات التي افتتاح المقر الجديد لمعهد التأمين فى مصر: رئيس الهيئة العامة للرقابة المالية تقدم للدارسين باللغة اإلنجليزية وتنميتها بما يتناسب مع تطورات األسواق العالمية ويقدم واألستاذ عالء الزهيرى رئيس االتحاد المصرى للتأمين ورئيس مجلس إدارة معهد التأمين 4 دبلومات متخصصة بتأمينات الحياة والطبى وإعادة التأمين والتسويق . المعهد وبحضور لفيف من قيادات ورؤساء شركات التأمين العاملة في مصر ومن المعروف ان عضوية المعهد ستكون الزامية لكل الشركات العاملة بالسوق المصرى طبقا للنظام األساسي المعتمد من هيئة الرقابة المالية باعتباره كإحدى الجهات المعاونة المسجلة بالهيئة وسيصبح كيان تعليمى مستقل تحت اشراف االتحاد المصرى للتأمين بعد إقرار النظام االساسى من مجلس الوزراء. إفتتح معالى وزير المالية الدكتور محمد معيط المقر الجديد لمعهد التأمين في مصر

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اللجنة التنظيمية ملؤمتر العقبة الثامن للتأمني تلتقي املسئولية اجملتمعيةودور صناعة التأمني وإعادة التأمني يف مدير عام هيئة تنشيط السياحة يف األردن دعم أهداف املسئولية اجملتمعيةلتحقيق التنمية املستدامة بدورته الثامنة AqabaConf2021 المقرر عقده للفترة من 30/5 ولغاية كبير وفعال في تحقيق أهداف التنمية المستدامة من وقد تزايد اهتمام قطاعات االعمال المختلفة في الفترة مفهوم المسؤولية االجتماعية أصبح يتردد على مسامعنا 2/6/2021في فندق انتركونتننتال العقبة بالتعاون مع االتحاد العام العربي خالل تقديم الدعم للفئات الفقيرة ومحدودة الدخل وتقديم األخيرة بالمسؤولية االجتماعية والتنمية المستدامة كثيرا في السنوات االخيرة في عالم االقتصاد واالعمال، للتامين ،التقى ظهر يوم اإلثنين الموافق 11/1/2021 كل من المهندس ماجد الحلول للمشاكل الرئيسية التي يوجهونها كتحسين وأصبحت تواجه اليوم تحديات اجتماعية واقتصادية وكثيرا ما يطرح هذا المفهوم بكافة وسائل االعالم. سميرات رئيس مجلس إدارة االتحاد ورئيس اللجنة التنظيمية للمؤتمر واألستاذ مستويات المعيشة والمساهمة في توفير حياة كريمة كبيرة في مسيرة عملها وتحمل مسؤولياتها وتفاعلها وقد تزايد االهتمام بالمسؤولية االجتماعية للشركات ماهر الحسين مدير االتحاد األردني لشركات التأمين وعضو اللجنة التنظيمية لألفراد والمجتمعات ومحاربة الفقر ودعم برامج مع المجتمع سعيا لتحقيق أهدافها االقتصادية باإلضافة CSR” Corporate Social Responsi�“– للمؤتمر عطوفة السيد عبد الرزاق عربيات مدير عام هيئة تنشيط السياحة في التأهيل والتطوير الذاتي وخلق فرص عمل مناسبة لهم. إلى تحقيق احتياجات المجتمع ويكتسب الدور bility في معظم البلدان، وأصبح له دور كبير في االردن. المجتمعي للشركات أهمية متزايدة في العالم أجمع فمن خالل برامج المسؤولية االجتماعية يمكن المشاركة تحويل الشركات إلى شركاء في تحقيق أهداف التنمية وفى الدول العربية وفي مصر على وجه الخصوص. وجاء اإلجتماع إلطالع هيئة تنشيط السياحة االردنية على استعدادات االتحاد في تحقيق التقدم االجتماعي والنمو االقتصادي وقد المستدامة Sustainable Development من األردني لشركات التأمين لعقد المؤتمر القادم الذي يأتي بعد غياب زاد عن عام أصبح واضحا اآلن أن أهداف التنمية المستدامة ال وال تعني المسؤولية االجتماعية لقطاع األعمال تخلى خالل هذه األنشطة . ونصف للمؤتمرات الدولية سواء داخل المملكة أو خارجها نتيجة جائحة كورونا، يمكن تحقيقها بدون مساهمة القطاعات والمؤسسات الحكومات عن مسؤولياتها االجتماعية بل يأتي ذلك ومما ال شك فيه ان المسؤولية االجتماعية لها دور وكذلك وضع هيئة تنشيط السياحة بصورة اإلجراءات التي تم إنجازها إلستقبال المختلفة من خالل مبادرات المسؤولية االجتماعية. مشاركةً وانسجاما معً دورها، ويفترض أال يكون كبير وفعال في تحقيق أهداف التنمية المستدامة من المشاركين في المؤتمر ًبدء من تجهيز الموقع اإللكتروني للمؤتمر، .www نشاط الشركات معزوالًعن أهداف المجتمع واألهداف هذا وقد اهتمت الحكومة المصرية بموضوعات عديدة خالل تقديم الدعم للفئات الفقيرة ومحدودة الدخل وتقديم AqabaConf.com ومرورا ُبإنجاز البرنامجين العلمي واإلجتماعي واختيار التنموية كما يفترض أيضاًأال يكون تحقيق األرباح تهتم بالعمل المجتمعي التنموي بكافة المؤسسات الحلول للمشاكل الرئيسية التي يوجهونها كتحسين المحاضرين وكافة الترتيبات اللوجستية إلنجاح أعمال المؤتمر. على حساب العاملين والبيئة والمجتمع. والقطاعات العاملة بالدولة باإلضافة الى التركيز مستويات المعيشة والمساهمة في توفير حياة كريمة ومن جانبه، أعرب عطوفة مدير هيئة تنشيط السياحة االردنية عن دعم الهيئة على دور هذه الكيانات في دعم دور الدولة في تحقيق مفهوم المسؤولية االجتماعية في قطاعات االعمال: لألفراد والمجتمعات ومحاربة الفقر ودعم برامج لجهود االتحاد األردني لشركات التأمين في تسويق األردن سياحيا ًمن خالل العدالة المجتمعية جنبا الى جنب مع مجهودات الدولة التأهيل والتطوير الذاتي وخلق فرص عمل مناسبة لهم. تعنى المسؤولية االجتماعية بأن يكون البعد االجتماعي هذا المؤتمر الدولي الهام الذي أصبح واحداً من المؤتمرات التأمينية المهمة في وضع إطار وخطط عمل رئيسية خاصه بعدالة واألخالقي إلى جانب البعد االقتصادي وتحقيق نمو في فمن خالل برامج المسؤولية االجتماعية يمكن المشاركة 600- 650 في المنطقة الستقطابه ما يزيد عن مشارك من كبرى قادة التأمين التوزيع للدخل والتنمية واالستثمارات بعدالة على األرباح والعوائد هو المحدد لسلوك قطاع األعمال من في تحقيق التقدم االجتماعي والنمو االقتصادي وقد في العالم، وكما أكد على أن دعوة االتحاد األردني لشركات التأمين لعقد هذا مستوى محافظات الجمهورية، وخاصة في المناطق خالل التزامه الدائم بمتطلبات التنمية المجتمعية وتحسين أصبح واضحا اآلن أن أهداف التنمية المستدامة ال المؤتمر في ظل هذه المرحلة الحرجة التي يمر بها العالم يؤشر على تضافر النائية ومحافظات الصعيد األكثر فقراً بهدف الوصول وعيه ومستوي وظروف الحياة ألفراد المجتمع. يمكن تحقيقها بدون مساهمة القطاعات والمؤسسات جهود القطاعين العام والخاص لدعم القطاع السياحي سيقابله دعم مطلق من هيئة الى الفئات التي ال تصل اليها خدمات الدولة. المختلفة من خالل مبادرات المسؤولية االجتماعية. اللجنة التنظيمية لمؤتمر العقبة الثامن للتأمين: المهندس ماجد سميرات رئيس مجلس تنشيط السياحة لهذا الحدث العالمي. ويتضمن التزام قطاع األعمال التركيز على القوانين حيث تعتبر المسؤولية االجتماعية جزء من اقتصاد إدارة االتحاد ورئيس اللجنة التنظيمية للمؤتمر واألستاذ ماهر الحسين مدير االتحاد والمعايير األخالقية، من حيث تأثير نشاط قطاع األعمال هذا وقد اهتمت الحكومة المصرية بموضوعات عديدة ومن جانبهم، شكر ممثلوا االتحاد عربيات على دعمه لجهود االتحاد واستعداد السوق حيث أن التفاوت الكبير في توزيع الدخول األردني لشركات التأمين وعضو اللجنة التنظيمية للمؤتمر عطوفة السيد عبد الرزاق على العاملين، والمستهلكين، وعلى البيئة الداخلية تهتم بالعمل المجتمعي التنموي بكافة المؤسسات هيئة تنشيط السياحة في االردن لتسويق هذا المؤتمر عالميا من خالل المنصات والثروات يؤدي إلى تمزق وحدة المجتمع ويمكن عربيات مدير عام هيئة تنشيط السياحة في االردن والخارجية والمجتمعات المحلية والمجتمع ككل. والقطاعات العاملة بالدولة باإلضافة الى التركيز المعتمدة للمؤتمرات والنشاطات واالستفادة من خبرات وعالقات وجهود هيئة للمسؤولية االجتماعية أن تساهم في إعادة التوزيع على دور هذه الكيانات في دعم دور الدولة في تحقيق تنشيط السياحة للتعريف بهذا المؤتمر بشكل أكبر، وبما يسهم في إنجاحه العادل للدخول. وينبغي فهم المسؤولية االجتماعية على أنها استثمار العدالة المجتمعية جنبا الى جنب مع مجهودات الدولة واستقطاب شريحة أكبر من المشاركين وبما يساهم ايضا بتسويق االردن سياحيا في المجتمع أكثر من كونها عمل خيري، فهي تتعدى كذلك ال يمكننا ان ننسي الدور الكبير لمنظمات في وضع إطار وخطط عمل رئيسية خاصه بعدالة والمساهمة بدعم القطاع السياحي وقطاع الفنادق والنقل السياحي والقطاعات االخرى المرتبطة للتخفيف على هذه القطاعات بعد جائحة كورونا. العمل الخيري التطوعي بحيث نصل إلى عالقة يستفيد ومؤسسات المجتمع الدولي في دعم أهداف التنمية التوزيع للدخل والتنمية واالستثمارات بعدالة على منها المانح والمتلقي. المستدامة وتفعيل األدوار والمبادرات المجتمعية بها مستوى محافظات الجمهورية، وخاصة في المناطق كبرنامج األمم المتحدة اإلنمائي حول العالم �Unit أهم مجاالت ومحاور وأشكال المسؤولية االجتماعية النائية ومحافظات الصعيد األكثر فقراً بهدف الوصول ed Nations Development Programme في قطاعات االعمال المختلفة : الى الفئات التي ال تصل اليها خدمات الدولة. UNDP)( وغيرها من المنظمات والبرامج التي • احترام قواعد القانون والتوافق مع القوانين حيث تعتبر المسؤولية االجتماعية جزء من اقتصاد تعمل على الوصول الي الفئات التي ال تصل اليها وإدارة النشاطات واألعمال وفق مبادئ وقواعد السوق حيث أن التفاوت الكبير في توزيع الدخول الخدمات األساسية والقيام بدعمهم وتمكينهم من خالل أخالقية وتعتبر حوكمة الشركات وأخالقيات الشركات والثروات يؤدي إلى تمزق وحدة المجتمع ويمكن مجموعة من المبادرات والمشروعات. جزء من هذه المسؤولية. للمسؤولية االجتماعية أن تساهم في إعادة التوزيع العادل للدخول. وقد تزايد اهتمام قطاعات االعمال المختلفة في الفترة مفهوم المسؤولية االجتماعية أصبح يتردد على مسامعنا األخيرة بالمسؤولية االجتماعية والتنمية المستدامة كثيرا في السنوات االخيرة في عالم االقتصاد واالعمال، كذلك ال يمكننا ان ننسي الدور الكبير لمنظمات وأصبحت تواجه اليوم تحديات اجتماعية واقتصادية وكثيرا ما يطرح هذا المفهوم بكافة وسائل االعالم. ومؤسسات المجتمع الدولي في دعم أهداف التنمية كبيرة في مسيرة عملها وتحمل مسؤولياتها وتفاعلها المستدامة وتفعيل األدوار والمبادرات المجتمعية بها مع المجتمع سعيا لتحقيق أهدافها االقتصادية باإلضافة وقد تزايد االهتمام بالمسؤولية االجتماعية للشركات كبرنامج األمم المتحدة اإلنمائي حول العالم �Unit إلى تحقيق احتياجات المجتمع ويكتسب الدور –“�CSR” Corporate Social Responsi ed Nations Development Programme المجتمعي للشركات أهمية متزايدة في العالم أجمع bility في معظم البلدان، وأصبح له دور كبير في UNDP)( وغيرها من المنظمات والبرامج التي وفى الدول العربية وفي مصر على وجه الخصوص. تحويل الشركات إلى شركاء في تحقيق أهداف التنمية تعمل على الوصول الي الفئات التي ال تصل اليها المستدامة Sustainable Development من الخدمات األساسية والقيام بدعمهم وتمكينهم من خالل من أفراد المجتمع بالطعام والمواد الغذائية. خالل هذه األنشطة . مجموعة من المبادرات والمشروعات. • االهتمام بمجاالت التعليم: منها على سبيل ومما ال شك فيه ان المسؤولية االجتماعية لها دور

44 w BUSINESS LIFE FEBRUARY 2021 BUSINESS LIFE FEBRUARY 2021 w 45 INSURANCE & REINSURANCE | EGYPT

التأمين العالمية والتي تولي ًاهتماما ًخاصا للنواحي • مدى االلتزام تجاه حماية البيئة. المثال وليس الحصر، إقامة معاهد تعليمية وفنية لرفع قنوات الراديو األكثر استماعاً عن مخاطر استخدام بينما تصل تقديرات منظمة الصحة العالمية للوفيات سوق التأمين المصري: االجتماعية والبيئية واالقتصادية في استراتيجيتها كفاءة الخريجين الجدد وإعدادهم للدخول في سوق الهاتف الذكي اثناء القيادة تحت شعار “ توقف عن الناجمة عن حوادث المرور بجمهورية مصر العربية • مدى االندماج في المجتمع والمساهمة في يقوم قطاع التأمين المصري بدور حيوي فى تقديم التنموية. العمل، وكذلك دعم الطلبة المحتاجين وتشجيعهم على الكتابة ... أنقذ حياة “ هذا ومن الجدير بالذكر ان لعام 2016 الى 9,287 حاله سنوياً. التنمية المجتمعية الدعم لمشروعات المسؤولية االجتماعية التي تهدف مواصلة دراساتهم العليا في الداخل والخارج، هذا الحملة حققت نسب مشاهدة واستماع كبيرة جدا وكان كما تحرص هذه الشركات على تقديم برامج الدعم وفي ضوء المسئولية االجتماعية لالتحاد المصري إلى تنمية المجتمع والنهوض به، باإلضافة الى • مدى االستثمار في البحث والتطوير. فضال عن المساهمة في إقامة مختبرات علمية في لها مردود إيجابي على المجتمع. االجتماعي على مستوي العالم وباألخص في الدول للتأمين وشركاته تجاه المجتمع وحرصا ًمن االتحاد التعاون مع الدولة في مجاالت الرعاية االجتماعية من بعض الجامعات. األكثر احتياجا ًفي إطار مسؤوليتها كالعب اقتصادي • مدى احترام حقوق اإلنسان ومراعاة 2. الوصول للفئات التي ال تصل اليها المصري للتأمين على ان يكون جزء من تحقيق اهداف خالل المساهمة في العديد من المشروعات والمساهمة محلي في بعض من هذه الدول من خالل اتخاذ القواعد األخالقية. • االهتمام بالمجاالت الصحية: منها على الخدمات التأمينية، الحملة االعالنية على مواقع التنمية المستدامة والتي يأتي خفض معدل الوفيات مع بعض البنوك التي تمنح قروض لمحدودي الدخل سبيل المثال وليس الحصر، إقامة مستوصفات مجموعة من اإلجراءات لعدد من السنوات كجزء من كما أن هناك معايير دولية لقياس المسؤولية التواصل االجتماعي الناجمة عن حوادث المرور كجزء منها. وكجزء وصغار المستثمرين. التزامها االجتماعي، بما يتماشى مع سياسة المجموعة طبية، وغرف عمليات كاملة في بعض المستشفيات من عمل شركات التأمين في المساهمة في الحد من االجتماعية للشركات تشمل المجاالت التالية: الحقوق “أمن قبل ما تحصل” عام 2019 باإلضافة الى المساهمة في النهوض بالتعليم والبحث ومبادراتها وما يحقق أهدافها للوصول الى الفئات التي والمساهمة في إقامة مستشفيات لألمراض الخطيرة المخاطر التي تواجه االفراد والممتلكات والمجتمع ، العمالية وممارسات العمل، حماية البيئة ، حقوق العلمي والتطوير من خالل القيام بإنشاء معامل ال تصل اليها الخدمات التأمينية. كالسرطان والمتوطنة مثل الفشل الكلوي ، وفيروسات في ضوء نسب المشاهدة المرتفعة للحمالت االعالنية فقد رأي االتحاد المصري للتأمين أنه يجب ان يكون المستهلك، التنمية والمشاركة المجتمعية. للكمبيوتر ومدرجات بالجامعات المصرية ودعم الكبد، والعالج بالخارج، وتعويض األفراد عن أي والمبادرات المجتمعية على مواقع التواصل له دور هام ومؤثر في الحد من الحوادث على الطرق ويعني تحمل المسؤولية االجتماعية في هذه الشركات لصندوق االستثمار القومي الخيري للتعليم تحت ونخلص من ذلك إلى أن للمسؤولية االجتماعية أضرار تلحق بهم نتيجة العمل بالشركة. االجتماعي المختلفة قام االتحاد المصري للتأمين ليس فقط من خالل وثائق التأمين والتغطيات المختلفة أن تلتزم أوال ًبعمالئها وموظفيها والمجتمعات التي إشراف وزارة التخطيط وذلك باإلضافة إلى المساهمة جوانب اقتصادية، قانونية، إنسانية، أخالقية وماهي بإعادة تقديم حملته االعالنية “أمن قبل ما تحصل” ولكن أيضا من خالل نشر الوعي عن طريق تقديم تتواجد بها. • االهتمام باألنشطة الثقافية: منها على في بناء المدارس وصيانتها وترميمها وتجهيزها إال طريقة عمل للمؤسسات تضفي الصبغة األخالقية ولكن هذه المرة على مواقع التواصل االجتماعي مجموعة من المبادرات المختلفة الهدف العام منها سبيل المثال وليس الحصر ، إقامة المكتبات في بجانب تقديم برامج وأدوات مساعدة للطالب من إن تسهيل اإلدماج المالي والتأميني للسكان في إطار على نشاطاتها وتكون القضايا االجتماعية والبيئية المختلفة والتي تهدف الى نشر الوعي التأميني بين هو” تأمين السالمة على الطرق وبناء عليه جاءت المناطق الفقيرة ونشر الكتب وتمويل المعارض، ً ذوي اإلعاقة، وأيضاً المساهمة في تطوير المظهر أهداف الشمول المالي، ومكافحة اإلعاقات واألمراض جزء من سياساتها وممارساتها. المواطنين بأهمية التأمين في مواجهة المخاطر التي فكرة مبادرة توقف عن الكتابة ... انقــذ حيــاة Stop وإصدار مجالت علمية وثقافية توزع في الندوات الحضاري للدولة عن طريق زراعة األشجار وبناء والفقر، وتعزيز التعليم للفقراء وغيرها، كلها مجاالت يمكن ان يتعرضوا لها وقد كان التركيز األكبر لهذه texting … Save a life والتي وافق على تدشنها مزايا ومنافع المسؤولية االجتماعية التى تعود على والمؤتمرات. النافورات بميادين القاهرة وجميع المحافظات مصر. التزام رئيسية لكبري شركات التأمين وإعادة التأمين قطاعات االعمال المختلفة: الحملة على التأمين متناهي الصغر. والبدء في فاعليتها مجلس إدارة االتحاد المصري حول العالم. • االهتمام باألنشطة الرياضية: منها على للتأمين بتاريخ 7 ابريل 2019 تحت رعاية وزارة باإلضافة إلى دعم المستشفيات ، ويأتي هذا إيمانا من ومما ال شك فيه، ان جميع هذه األنشطة كان لها أثرها تشمل المسؤولية االجتماعية العديد من المزايا سبيل المثال وليس الحصر ، دعم األندية الرياضية، الشباب والرياضة والهيئة العامة للرقابة المالية. القطاع بأهمية المسؤولية االجتماعية فى إطار تبنى أيضا يعتبر تغير المناخ وعدم االستقرار االقتصادي اإليجابي على بناء صورة ذهنيه إيجابية عن دور والمنافع لقطاع األعمال ومنها: والمساهمة في توفير البنية التحتية ومرافق المالعب المبادئ واالهداف الخاصة بتفعيل القيم األساسية من بين أكبر التحديات التي يهتم بها قطاع التأمين قطاع التأمين المصري في دعم المجتمع المصري وتركز مبادرة اإلتحاد المصري للتأمين على التوعية الرياضية والمتنزهات لصالح األطفال والنساء وكبار لحقوق اإلنسان والعمل والبيئة ومكافحة الفساد حيث وإعادة التأمين العالمي للوصول إلى مستقبل أكثر -1 إن المسئولية االجتماعية للشركات تحقق التقارب ومشاركته في مواجهة المخاطر وتقليل االثار المترتبة بأضرار استخدام الهواتف الذكية أثناء القيادة إلرسال السن. أن المساهمة في المسؤولية االجتماعية تعد استثمار استدامة “. بين الشركة والجمهور، إذ أن الجهود التي تبذلها عن تلك المخاطر. الرسائل أو اجراء المحادثات التي تؤدي الى زيادة طويل األجل ينعكس على القطاع كما يدعم ثقة الشركة لصالح مجموعة مستهدفة معينة في المجتمع • االهتمام باألنشطة البيئية: منها على معدالت التعرض للحوادث أو التسبب في وقوعها 3. وافقت الجمعية العامة لالتحاد المصري المجتمع في صناعة التأمين. كالمساهمين في الشركة مثال، قد تضر بمصالح سبيل المثال وليس الحصر ، اقامة الحدائق ونافورات حيث تتسبب الهواتف الذكية في وقوع 1.6 مليون للتأمين في اجتماعها المنعقد بتاريخ 23 ابريل 2020 ركائز المسؤولية االجتماعية لشركات التأمين وإعادة مجموعات أخرى، والعكس فإن تحقيق التوازن الدائم المياه للحفاظ على البيئة ومقاومة التلوث ومحاولة حادث سيارة سنوياً حول العالم، نتج عنها إصابة دور االتحاد المصري للتأمين االجتماعي تجاه على التبرع لصندوق تحيا مصر بــمبلغ 10 مليون جنيه التأمين العالمية: بين جميع المصالح يعد جزءاً مهما من المسؤولية مراعاة البعد البيئي بشكل كبير في أنشطة االعمال . نصف مليون شخص ما بين قتيل وجريح. المسؤولية االجتماعية: االجتماعية لتحقيق العدالة بين الفئات المختلفة. مصري لدعم أنشطة الصندوق في التصدي ومواجهة -1 الحوكمة واألخالقيات المهنية: تهتم هذه الشركات • االهتمام بأنشطة مساعدة أفراد المجتمع التداعيات الناتجة عن انتشار لفيروس كورونا المستجد. هذا وقد تم تدشين المبادرة من خالل مؤتمر صحفي ايمانا ًمن االتحاد المصري للتأمين بأهمية دوره في بالتأمين على الشركات والمشاريع التي تراعي معايير -2إن المسئولية االجتماعية للشركات تعطي قيمة في حالة الكوارث الطبيعية واالجتماعية كما هو الحال لإلعالن بمركز التعليم المدني بالجزيرة وحضر المسؤولية االجتماعية في وكجزء من استراتيجيته هذا ويأتي ذلك في إطار أنشطة الصندوق في التصدي الحوكمة واالخالقيات في اعمالها، فال يتم مثال التأمين مضافة للمساهمين وتجعلهم أكثر ثقة في الشركة عند انهيار المنازل القديمة وحدوث الحرائق السيما المؤتمر معالي وزير الشباب والرياضة ومعالي رئيس لتحقيق اهداف التنمية المستدامة ، قام االتحاد ومواجهة التداعيات الناتجة عن انتشار الفيروس، على تصنيع األسلحة المحظورة أو على الكيانات التي نتيجة للسياسات االجتماعية التي تطبقها تجاه العاملين المناطق العشوائية. الهيئة العامة للرقابة المالية ونائب رئيس هيئة الرقابة المصري للتأمين بالعديد من األنشطة منها على سبيل وتأتى مشاركة االتحاد المصري في مبادرة الصندوق ال تحترم حقوق االنسان وعلى سبيل المثال ال الحصر والمجتمع، إذ أنه كلما تحسنت نظرة اآلخرين للشركة المالية ورئيس االتحاد المصري للتأمين. كما شارك في المثال وليس الحصر: • إلتزام الشركة بدفع الضرائب وهذا يعد منخالل المساهمة في توفير عدد من األجهزة عمل األطفال، وغسل األموال. كان هذا أفضل بالنسبة لها. المؤتمر، رؤساء وأعضاء مجالس إدارات من شركات إسهاما اجتماعيا لمساعدة الدولة على تمويل الخدمات والمستلزمات الطبية المطلوبة لمعاونة القطاع الطبي، 1. إطالق مبادرة االتحاد المصري للتأمين “ التأمين، ولفيف من االعالميين والصحفيين في مصر. -2 االهتمام بحماية المناخ باإلضافة الى دعم التحول -3إن زيادة التكاليف الناتجة عن القيام بالمسؤولية االجتماعية واإلنفاق على أنشطة البنية األساسية. فضالً عن المشاركة في توفير المواد الغذائية للعمالة توقف عن الكتابة ... أنقذ حياة “: العالمي إلى اقتصاد منخفض الكربون والمشاركة االجتماعية والحفاظ على البيئة تستطيع الشركة غير المنتظمة واألسر األولى بالرعاية لتخفيف عبء هرم كارول Carroll’s pyramid للمسؤولية وقد تضمنت المبادرة األنشطة التالية: تكثف الحكومات في جميع انحاء العالم جهودها في في أنشطة الحد من ارتفاع متوسط درجة الحرارة تعويضها على المدى البعيد عبر مستوى ربحية يفوق تكاليف المعيشة عن عاتقهم خالل األزمة. االجتماعية: مجال السالمة على الطرق من أجل الوفاء بالتزاماتها العالمية إلى 2 درجة مئوية على النحو المحدد في تلك التكاليف بعد تمتعها بسمعة جيدة من خالل تطبيق ماراثون االتحاد المصري للتأمين الثاني تحت شعار 4. في ضوء المسئولية االجتماعية لقطاع التي تعهدت بها في جدول أعمال التنمية المستدامة اتفاقية باريس للمناخ. المعايير البيئية واالجتماعية. إحدى الطرق لفهم المسؤولية االجتماعية للشركات هي توقف عن الكتابة ... أنقذ حياة: التأمين المصري وتحقيقا ًألهداف التنمية المستدامة 2030، ومما ال شك فيه ان موضوع الوفيات بسبب من خالل هرم كارول Carroll’s pyramid ، والذي تحت رعاية وزارة الشباب والرياضة والهيئة العامة -3 العمل على انهاء جميع االستثمارات المملوكة في -4تحسين سمعة الشركة في األوساط المالية والتجارية لالتحاد المصري للتأمين، تم تشكيل لجنة “إدارة حوادث الطرق وهو العنصر السادس في الهدف يقوم على تقديم ًمفهوما اجتماعيًا لقبول المسؤولية من للرقابة المالية، أقيم بمركز شباب الجزيرة الماراثون شركات الفحم او أي أنشطة لها تأثير بيئي سلبي على بين الموردين والعمالء وأفراد المجتمع. حساب المساهمة في عالج العاملين في قطاع التأمين” الثالث من اهداف التنمية المستدامة من الموضوعات قبل الشركات. حيث يستعرض هرم كارول أربعة الثاني لالتحاد المصري للتأمين “ التأمين لحياة أفضل” المجتمع فضال ًعن االهتمام بأنشطة الطاقة المتجددة. طبقا لقرار رئيس الهيئة العامة للرقابة المالية رقم التي تقلق الجميع على مستوي العالم والمستوي -5تحسين األداء المالي للشركة نتيجة زيادة االنتاجية أنواع من المسؤولية االجتماعية وهي االقتصادية بتاريخ 3 مايو 2019 تحت شعار “توقف عن الكتابة )1129( لتلقى طلبات المساهمة في عالج العاملين اإلقليمي والمحلي. -4 تعزيز استراتيجيات الوصول الى الفئات التي ال وتحسين نوعية المنتج وبالتالي ارتفاع حجم المبيعات والقانونية واألخالقية والمجتمعية )الخيرية(. ... أنقذ حياة” هذا وقد شارك في الماراثون حوالي بقطاع التأمين من خالل الحساب المنشأ لهذا الغرض تصل اليها الخدمات التأمينية من خالل الحلول الرقمية بسبب تقليل تكاليف التشغيل ووالء العاملين بالشركة، 1700 مشارك )ذكور وإناث وأطفال( هذا باإلضافة وفقا للتقرير العالمي للسالمة على الطرق والصادر يؤكد كارول أن األربعة عناصر مهمة بشكل كبير، باالتحاد المصري للتأمين. التي تسمح ألكبر عدد من الوصول إلى التأمين من خالل وتفضيل العمالء والمستهلكين لمنتجات وخدمات في عام 2018، فإن اإلصابات الناجمة عن حوادث ويؤكد ان الشركات ستزداد أرباحها من خالل الي مجموعة من المحترفين برياضة العدو وصل توفير التطبيقات على الهواتف الذكية وغيره من قنوات الشركة. 5. قيام االتحاد المصري للتأمين بإطالق المرور هي ثامن أكبر مسبب للوفاة وهي السبب المسؤولية االجتماعية وستتمكن من الحفاظ على عددهم الى 800 مشارك )ذكور وإناث( باإلضافة الى التوزيع األكثر شيوعاً بالمجتمعات الفقيرة والنامية. “مبادرة الخير “ لقطاع التأمين بالتعاون مع جمعية األول لوفيات األطفال الذين تتراوح أعمارهم بين 5 -6زيادة قدرة الشركة على االحتفاظ بموظفيها األكفاء وضع تنافسي قوي، والحفاظ على مستوى عال من حوالي 50 مشارك بموتوسيكل ودراجة. األورمان بشأن األسر األكثر تضرراً من الطقس سنوات و14 سنه والبالغين الذين تتراوح أعمارهم -5 تقديم خدمات التأمين متناهي الصغر والتركيز مما يساعد في جذب المستثمرين. كفاءة التشغيل. تصميم حملة إعالنية كبيرة على مواقع التواصل السيئ وفيروس كورونا فيما يخص المواد الغذائية بين 15 و29 سنه، فالعالم يواجه كل 24 ثانيه حالة على األشخاص المستبعدين سابقًاً من الخدمات المالية االجتماعي المختلفة وقنوات شعار “توقف عن الكتابة دور قطاع التأمين ومسؤولياته االجتماعية تجاه المجتمع: المعايير التي تساعد في قياس المسؤولية االجتماعية والتكافل النقدي وتقضى هذه المبادرة بتبرع كل من وفاة بسبب حوادث الطرق. والعمل بالشراكة مع مؤسسات التمويل متناهي الصغر ... أنقذ حياة”: في قطاعات االعمال المختلفة : يريد من العاملين بالقطاع سواء األفراد أو الشركات لتعويض المقترضين في حالة الوفاة أو العجز أو لحماية أسواق التأمين وإعادة التأمين العالمية: وجمهورية مصر العربية ليست بعيدة عن ذلك فوفقاً بالتبرع للجمعية بمبلغ ألف جنيه لكل أسرة. دشن االتحاد المصري للتأمين حملة توعية إعالنية المزارعين من مخاطر الجفاف وغيره من المخاطر. تقع المسؤولية االجتماعية للشركات )CSR( في • مدي االلتزام بأخالقيات العمل وظروف لألرقام المبلغ عنها رسميا فإننا نواجه حوالي 22 حالة كبيرة على مواقع التواصل االجتماعي المختلفة وعلى ً صميم أولويات كبري شركات التأمين وإعادة وشروط العمل وبالواجبات تجاه العاملين. 6. توقيع بروتوكوالن للتعاون بين االتحاد وفاة يوميا في المتوسط بمصر بسبب حوادث الطرق.

46 w BUSINESS LIFE FEBRUARY 2021 BUSINESS LIFE FEBRUARY 2021 w 47 INSURANCE & REINSURANCE | UAE

Change in Guard at SALAMA Signals New Growth Plans

Fahim Al Shehhi appointed as new CEO of UAE’s largest Shari’ah compliant insurance provider

he Board of Directors of Islamic Arab Insurance Company (“SALAMA”), the UAE’s largest T Shari’ah compliant Takaful solu- tions provider, announced the appointment of Fahim Al Shehhi as its new Chief Execu- tive Officer. Fahim succeeds Parvaiz Siddiq, who recently stepped down as CEO, having been in the role since 2018 and with the company since 2016. SALAMA is the largest Sharia’h compli- ant Takaful operator with ‘AAA’ level capital adequacy as per S&P. Jassim Alseddiqi, Chairman of SALAMA, said: “On behalf of the Board, I’m pleased to welcome Fahim to SALAMA. Fahim brings a strong track record of trans- forming businesses both at an operational and a strategic level which will help him drive SALAMA’s next phase of growth as New appointment at SALAMA: Fahim Al Shehhi, CEO of SALAMA a modern, customer-focused company. Fahim in his new role will bring his cross- tion of the capital investment process and to design and develop solutions that meet sector experience to work with the Board performance. He is also a Board Member and the ever-changing demand of customers. to accelerate SALAMA’s growth strategy, Managing Director for Massar Solutions. Today, SALAMA is recognised for providing driving core business profitability and in- Previously, Fahim held senior management the most competitive and diverse range of Find your inner peace. Insure. vestment income, while maintaining the roles within the Department of Economy in Takaful solutions in the region. company’s market-leading position in the Abu Dhabi, Etisalat Group and also served as SALAMA serves individual customers UAE Takaful market. I would also like to a non-executive Board member for Takaful and institutions in the UAE and, through take the opportunity to thank Parvaiz for Emarat Insurance. its extensive network of subsidiaries and his valuable contribution to the company.” In December 2020, SALAMA revealed associates in Egypt and Algeria. Fahim Al Shehhi commented: “I have its new brand identity to reflect the com- As the UAE’s leading Takaful com- followed SALAMA’s growth trajectory from pany’s future strategic plans. SALAMA is pany, SALAMA offers a comprehensive Take a load off and free your mind. We at AL MASHREK insurance & reinsurance sal are always committed to the outside and have been impressed by the also one of the few Takaful companies to range of family, motor, general and health provide our valued customers the most affordable insurance options with outstanding support, service and company’s evolution as it has continued return surplus cash to eligible policyhold- Takaful solutions. Due to its reputation to lead the Islamic insurance sector with ers, with the latest cash return announced for high-quality products and services and respect they deserve to free their minds from unexpected risks and to enjoy life. its customer-centric products and services in August 2020. implementation of Takaful best practice, that have won it many industry accolades SALAMA Islamic Arab Insurance Com- SALAMA won the ‘Family Takaful Com- Since its founding in 1962, AL MASHREK insurance & reinsurance sal has been engaged in the writing over the years. I am excited to be part of the pany is one of the world’s largest and long- pany of the Year-2015’ award at the Middle SALAMA team and look forward to work- est-established Shari’ah compliant Takaful East Insurance Awards, ‘Best Family Takaful and sales of diverse insurance and reinsurance policies, covering all classes of insurance to protect our ing with the board, employees, customers solutions providers listed on the Dubai Operator ME – 2016’ at the Islamic Banking customers’ financial status, assets, health (medical, life), and legal liability. and other partners to build on SALAMA’s Financial Market, with paid-up capital of and Finance Awards, ‘Best Takaful Operator strengths and drive the company to even Dh1.21bn. SALAMA has been a pioneer in – 2019’ by the Islamic Banking and Finance greater levels of success, firmly supported the Takaful industry from its incorporation Awards as well as other accolades including For more information regarding “finding your inner peace”, please don’t hesitate to visit us at by strong business practices and technology- in 1979 to the present day. the latest ‘Takaful Company of the Year’ www.almashrek.com.lb, scan the QR code above, or e-mail us your questions at [email protected] driven solutions.” SALAMA’s stability and success can be award at MIIA 2020. Fahim joins SALAMA from Abu Dhabi attributed to its customer-centric approach, SALAMA continues to be the preferred National Energy Company (TAQA) where keeping clients and partners at the heart of Takaful partner by its partners and custom- as VP-Business Development, he built com- the business, and its commitment to its core ers, remaining committed to ‘Securing our mercial relationships and led the optimisa- values and principles. SALAMA continues future – together.’ www.almashrek.com.lb 48 w BUSINESS LIFE FEBRUARY 2021 BUSINESS LIFE FEBRUARY 2021 w 49 INSURANCE & REINSURANCE | REGION

SALAMA Wins ‘Takaful Specialist of the Anoud Technologies Named as a Global Top-Ten Year’ Award 2021 InsurTech Leader by ACORD and Alchemy Crew

Anoud Tech was listed in the Top Ten InsurTech Leaders in the category of Global Ecosystem-Building SALAMA has been awarded Takaful Specialist of the Year at the MENA Insurance Review Awards (MENAIR) 2021, held virtually on 27 January 2021 noud Technologies LLC (Anoud Ecosystem-Building. This category recog- ance operations, and of marketing these ca- Tech), a wholly-owned IT services nizes achievements in the development of pabilities to the insurance industry at large.” subsidiary of QIC Group, the lead- robust networks, interconnected systems, Al Mannai added: “The ability to con- A ing insurer in Qatar and the MENA and global digitization which are critical tinuously to innovate and digitally trans- region, has been named by ACORD and elements to facilitate the development form our business model will be critical slamic Arab Insurance Company across the regional insurance industry. SALAMA continues to be the preferred Alchemy Crew in the 2020 Top Ten Leaders of the insurance industry. Anoud Tech is to maintaining our leadership position in (“SALAMA”), the UAE’s largest SALAMA stands as the largest Sharia’h Takaful partner by its partners and custom- with the greatest current and future ability recognized for its best-in-class Insurance IT the MENA region. IT will remain our focus Shari’ah compliant Takaful solutions compliant Islamic insurance operator with ers, remaining committed to ‘Securing our to change the industry through InsurTech. platform called Anoud+. It provides insurers going forward.” I provider, recently announced that ‘AAA’ level capital adequacy as per S&P. future – together.’ ACORD is a non-profit organization in the an efficient, comprehensive way to manage About Anoud Tech it has been awarded Takaful Specialist of SALAMA remains committed to serving SALAMA Islamic Arab Insurance Com- insurance industry, while Alchemy Crew all aspects of their insurance programs. Established by QIC in 2020 in the Qatar the Year at the MENA Insurance Review partners and customers while enhancing pany is one of the world’s largest and long- is a worldwide leader in InsurTech strat- Commenting on this accomplishment, Financial Centre, Anoud Tech was the first Awards (MENAIR) 2021, held virtually on shareholder returns in 2021 and beyond. est-established Shari’ah compliant Takaful egy. The “Top Ten InsurTech Leaders” was Salem Khalaf Al Mannai, QIC Group CEO fully incorporated Fintech Company in 27 January 2021. SALAMA Islamic Arab Insurance Com- solutions providers listed on the Dubai published on 15 December 2020 in Insider said: “We are thrilled for Anoud Tech to Qatar. Anoud Tech – through its close col- The award recognizes SALAMA’s mar- pany is one of the world’s largest and long- Financial Market, with paid-up capital of Engage, a digital hub of industry leaders be named as a Top Ten InsurTech Leader. laboration with Swiss Re, the world’s largest ket-leading Islamic insurance solutions and estestablished Shari’ah compliant Takaful Dh1.21bn. SALAMA has been a pioneer in within and outside of the insurance sector. It recognizes the success of QIC Group’s reinsurance company, offers the Anoud+ the high standards of customer service for solutions providers listed on the Dubai the Takaful industry from its incorporation Anoud Tech was listed in the Top Ten business strategy of employing cutting-edge Platform to insurers across the world. which the company is known. Financial Market, with paid-up capital of in 1979 to the present day. InsurTech Leaders in the category of Global technologies in our insurance and reinsur- Commenting on the award, Jassim Dh1.21bn. SALAMA has been a pioneer in SALAMA’s stability and success can be Alseddiqi, Chairman of SALAMA, said, the Takaful industry from its incorporation attributed to its customer-centric approach, “2020 was a pivotal year for SALAMA, not in 1979 to the present day. keeping clients and partners at the heart of only in terms of the company’s transition SALAMA’s stability and success can be the business, and its commitment to its core into a new era of providing personalized attributed to its customer-centric approach, values and principles. SALAMA continues digital customer services, but also in terms keeping clients and partners at the heart of to design and develop solutions that meet Oman Re signs MoU with Ethio Re of delivering a strong financial performance. the business, and its commitment to its core the ever-changing demand of customers. Today, SALAMA is one of the few takaful values and principles. SALAMA continues Today, SALAMA is recognised for providing companies in the region that is able to pay to design and develop solutions that meet the most competitive and diverse range of cash returns to both eligible policyholders the ever-changing demand of customers. Takaful solutions in the region. man Re – the sole reinsurer ceremonial event in Muscat on Mon, 25th is to strengthen our areas of cooperation, and shareholders in the form of dividends.” Today, SALAMA is recognised for providing SALAMA serves individual customers operating in the Sultanate of Jan 2021. strategic partnership and review mutual SALAMA’s recently appointed CEO, the most competitive and diverse range of and institutions in the UAE and, through Oman, represented by it’s Chair- Oman Re’s leadership team welcomed opportunities and challenges. Our subject Fahim Al Shehhi, said: “I am delighted to be Takaful solutions in the region. its extensive network of subsidiaries and O man – Dr. Juma Bin Ali Al Juma the 10-member Ethio Re delegation com- matter experts also conducted workshops part of a company that is truly an exemplary SALAMA serves individual customers associates in Egypt and Algeria. and Ethiopian Reinsurance Company, rep- prising of their Board of Directors and on Corporate Governance, Enterprise Risk leader in Islamic insurance. This award is and institutions in the UAE and, through its As the UAE’s leading Takaful com- resented by it’s Chairman - Hailemariam Acting CEO. Management and discussed the challenges testament to SALAMA’s continued commit- extensive network of subsidiaries and pany, SALAMA offers a comprehensive Assefa Yeshitila jointly signed the Memo- Omar Re’s Chairman – Dr. Juma Bin Ali affecting the reinsurance industry and ment to providing our customers with the associates in Egypt and Algeria. range of family, motor, general and health randum of Understanding (MoU) at the Al Juma said “The core objective of this MoU reinsurers with the Ethio Re delegation.” best possible service in a rapidly evolving in- As the UAE’s leading Takaful company, Takaful solutions. Due to its reputation surance landscape. In 2021, we will ontinue SALAMA offers a comprehensive range of for high-quality products and services and to provide personalized digital customer family, motor, general and health Takaful so- implementation of Takaful best practice, service and innovative takaful solutions, in lutions. Due to its reputation for highquality SALAMA won the ‘Family Takaful Com- SAMA To Develop the Saudi line with our vision to make the benefits of products and services and implementation pany of the Year-2015’ award at the Middle Islamic insurance accessible to all.” of Takaful best practice, SALAMA has previ- East Insurance Awards, ‘Best Family Takaful Organized by Pageant Media, the ME- ously won the ‘Family Takaful Company Operator ME – 2016’ at the Islamic Banking insurance Sector NAIR Awards recognize and reward ME- of the Year-2015’ award at the Middle East and Finance Awards, ‘Best Takaful Operator NAbased insurers, reinsurers, brokers and Insurance Awards, ‘Best Family Takaful - 2019’ by the Islamic Banking and Finance third-party administrators which have Operator ME – 2016’ at the Islamic Banking Awards as well as other accolades including demonstrated exceptional customer service and Finance Awards, ‘Best Takaful Operator the latest ‘Takaful Company of the Year’ he Central Bank of Saudi Arabia The insurance supervisory authority and improve their skills and innovative product development over - 2019’ by the Islamic Banking and Finance award at MIIA 2020. (SAMA) has established a num- mainly aims to: In order to achieve these objectives, the past 12 months. Awards as well as other accolades. It has now SALAMA continues to be the preferred ber of initiatives and structural *increase the insurance sector’s contri- SAMA intends to implement several pro- The awards covered 20 categories with been recognized as the ‘Takaful Company of Takaful partner by its partners and custom- T reforms to align the Saudi insur- bution to GDP cedures, controls, rules and instructions winners selected by a 10-member judging the Year-2020’ at the Middle East Insurance ers, remaining committed to ‘Securing our ance market with the Kingdom’s “Vision *stimulate savings among individuals specific to the insurance sector. panel comprising senior executives from Industry Awards. future – together. 2030” objectives. create new job opportunities for citizens

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What Does The Future Hold For Kuwait Infrastructure Sector? Faster vaccine deployment and better cooperation for its distribution would boost confidence and strengthen the pickup but continued uncertainty risks further weakness

n 2020, even best laid plans were Trend 1: Uncertainty creates planning tors to start asking difficult questions hijacked by COVID-19. And the un- complexity about the resilience of their assets in its certainty of the pandemic still hangs Over the coming year, we expect broadest sense. Those without an existing I all around us. But the world is already infrastructure planners, operators, and resilience plan should expect a grilling. moving forward. Expect the infrastructure developers looking for ways to enable a Trend 7: Delivering a digital world in sector to emerge from the crisis with much more nimble and flexible approach a secured fashion renewed vigor, fulfilling a key role as a to infrastructure planning, development, Over the coming year, expect the focus catalyst to sustainable economic recovery. and delivery. Build back better is almost on connectivity to sharpen significantly. The year ahead will likely be char- certain to result in build back different. Very soon, governments are going to acterized by growth, sustainability and Trend 2: Cities undergo an identity crisis start to recognize that they must address resilience. And infrastructure will be its Until very recently, cities acted as the growing deficits in their digital in- bedrock. Are you ready? Explore the trend magnets, pulling people, capital and ideas frastructure. And they will be looking at insights and download the full report. To inwards. How cities respond and adapt to enhancing their connectivity in order to learn more about these trends, and their the multipolarity catalyzed by COVID-19 drive growth in both their economies and potential impact on your organization, we remains to be seen. The new equilibrium their balance sheets. encourage you to contact us. is potentially a long way off. Trend 8: Policy and regulatory reform Faced with falling oil revenues as a Trend 3: Borders become real again become imperative result of the impact of Covid-19 and the What will this mean for ports and Indeed, infrastructure owners and OPEC production cuts, Kuwait adopted airports? This trend will cover insights governments currently have an unprec- a conservative approach to government from a ports and airports perspective. edented opportunity to rethink how they spending for the better part of 2020 Indeed, we believe this year will see port serve their stakeholders. We look forward Faced with falling oil revenues as a and airport operators start to consider art to seeing and supporting the innovation result of the impact of Covid-19 and the of the possible - building newer and bet- and experimentation that will emerge OPEC production cuts, Kuwait adopted ter infrastructure, unlocking more value over the coming year. a conservative approach to government from bytes than bricks and contributing Trend 9: Governments look for partners spending for the better part of 2020. to a cleaner and greener environment. More than traditional financing part- Several large capital expenditure pro- Trend 4: Supply networks reform nerships, many governments are now jects were put on hold as the government The impact on shipping, transporta- striving to create partnerships that give sought to reprioritize projects, leading to tion and trade infrastructure will be sig- them access to enhanced expertise and a slowdown in the infrastructure sector nificant. This would mean the transport capabilities. Over the coming year, ex- in Kuwait. and logistics sector will have to reinvent pect to see some governments start to However, large-scale infrastructure themselves and newer business models reconsider the role the private sector plays projects are also a means of reviving will emerge. The 3-D printing potentially not just in asset delivery, but also service economic growth, and the importance of will get an even further boost to com- delivery. In some cases, the partnership private sector partners to help finance, pliment supply chain localization and will be one of necessity as debt burdens develop and operate infrastructure assets increase the resilience. from the pandemic push governments to has never been greater. Trend 5: A greener, fairer rebuild find alternative models. In others, it will Infrastructure Trends Over the coming year, we expect to be driven by innovation and the desire to The successful listing of Shamal Al see the infrastructure sector become com- deliver more to stakeholders. Regardless, Zour Al Oula – Kuwait’s first IWPP – on pletely dominated by a focus on environ- the outcome should be improved value Boursa Kuwait and the financial close of mental, social and governance outcomes for users and government alike. the Umm Al Hayman WWTP rejuvenated to ensure their actions are contributing to Trend 10: New Finance floods into the Kuwait infrastructure market and the a fairer, more inclusive and more equita- the market government is currently working with ble world. We couldn’t be happier, and the For well-prepared governments with a transaction advisors and bidders for vari- world will be a better place for it. strong and structured pipeline, the news ous projects in the power, water, housing, Trend 6: Resilience jumps up the agenda couldn’t be better. The ability to tap differ- Kuwait investing $15.6 billion in infrastructure entertainment, and transportation sectors. Over the coming year, expect infra- ent sources of funding, including institu- Emerging trends in infrastructure 2021 structure owners, planners and regula- tional capital and sustainable funds, over

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MAIN STORY

top of local and regional banks and capital investment into digital and smart ports, balances have been brought to the public markets, should lead to a wealth of well- airport automation and the development consciousness. Not surprisingly, society is priced capital to compliment government of institutional mechanisms for improv- now calling for a greener, fairer and more finances. Over the coming year, expect ing collaboration between supply chain sustainable rebuild of the world economy. to see investors pile into vehicles that actors. Given the magnitude of the disrup- They want this experience to have led to provide sustainable inflation-protected tion and the critical role played by ports something positive. This new reality is long-term annuity returns, particularly and airports in the global supply chain, being seen as a clean slate; an opportunity as treasury rates remain low. we expect to see stakeholders (including for a new form of equitable and sustain- KPMG in Kuwait operates through its governments, regulators, investors and able growth. On the environmental side member firms KPMG Safi Al-Mutawa & service providers) start to place a greater of the ESG equation, at least, governments Partners and KPMG Advisory W.L.L. pro- focus on driving enhanced financial and clearly agree. And many have been mak- viding a full range of audit, tax and advi- operational resilience across their assets ing significant policy announcements to sory services to a portfolio of clients which and networks. support that agenda. More than 22 regions include major corporations, government Indeed, this year will see port and air- and 450 cities have signed up to the UN’s institutions, public sector agencies, and port operators start to consider the art of Race to Zero campaign, aiming for zero not-for profit organizations. the possible — looking for ways to unlock emissions by 20503 . Major economies are With over 200 employees and 8 part- value from data, contributing to a greener also making commitments: Japan intends ners based in Kuwait, KPMG forms part of and cleaner environment and planning to achieve net zero by 20504 ; China by a global organization of independent pro- for an eventual return to stable growth. 20605 . The EU’s Green Deal signals the fessional services firms operating in 146 It wasn’t just goods and manufactur- block’s intention to also reach the goal by countries and territories. With borders ing supply chains that experienced mas- 20506 . President Biden’s early promise to for people all but shut and international sive disruption as a result of the pandemic. spend up to US$2 trillion on green infra- travel discouraged, migration fell to an all- So too did the world’s infrastructure and structure and energy is also encouraging . time low. At the same time, supply chains construction companies. Supply of raw The economics underpinning the became entangled (see Trend 4: Infrastruc- materials became disrupted. Equipment market have also rapidly changed. Recent C ture supply networks evolve, for more on and labor became stuck behind borders. estimates suggest that — in countries that this), sending waves of disruption across Project teams were either isolated on site represent two-thirds of the population M the ports, airports and logistics sectors. or quarantined far away from their jobs. renewable energy is now the cheapest Y Interestingly, the impact on ports, In very short order, normalcy started form of power. We have entered an era of

airports and logistics companies has been to return to supply chains. Raw materials hyperconnectivity. Those businesses un- CM uneven. The aviation and tourism sectors once again started to flow. Equipment able to exploit the new digital economy have been the hardest hit by the pandemic. began to move across borders (albeit often will quickly fall behind. And the pres- MY Yet, while passenger volumes plummeted, without their operators). Labor, however, sure on governments is rising to provide, some were able to benefit from the in- remains constrained — workers are still secure and utilize the foundations for a CY creasing demand for air cargo services, largely confined by regional travel restric- hyperconnected world. CMY allowing a welcome opportunity to shore tions; operations and project teams are Connectivity technologies like 5G

up revenues and better sweat assets. still often isolated. and Cloud will also be central to driving K As markets seek to define the ‘new Perhaps not surprisingly, infrastruc- innovation and value in infrastructure. normal’ in international travel, we expect ture and construction supply chain man- For smart cities and venues, for exam- to see governments and aviation authori- agers remain deeply concerned that — any ple, hyperconnected infrastructure can ties start to collaborate to harmonize regu- day now their suppliers may go back into enable space and energy to be fully op- lation and standard operating procedures lockdown and the flow of critical goods timized, smart waste and water manage- across countries. Much like the historic may be delayed. Others are looking past ment to be implemented, and connected loss of trust experienced by the industry the current pandemic and realizing there mobility solutions to be integrated. It can during the spate of hijackings in the 1970s are a wide range of concerning risks still help utilities secure their smart grids and and the period following the 9/11 terrorist hovering on the horizon. deploy sustainable energy and dynamic attacks, the industry will need to find ways Over the coming year, expect to see asset management systems. It is critical to to rebuild confidence in air travel. Ports the pace of change in infrastructure and hastening the early development of fully also saw a drop in trade, reduced volumes construction supply chains pick up as autonomous vehicles. and congestion as supply chain networks organizations invest in resiliency. We ex- Over the coming year, expect the focus became disrupted. In many cases, support pect to see developers start to think more on connectivity to sharpen significantly. from port authorities, governments and broadly about the factorsthat influence Very soon, governments are going to start policy makers has helped. But the sector is their supply strategies. In some cases, this to recognize that they must address the heavily dependent on end-user industries will likely mean a strong shift towards growing deficits in their digital infra- and trade so, depending on the prime com- re-shoring and nearshoring. And it will structure. And they will be looking at en- modities they handle and their location almost certainly mean that inventory hancing their connectivity (and the cyber in the supply chain network, some ports levels will rise considerably. security of their assets) in order to drive may take two to three years to revert to The challenges that the pandemic growth in both their economies and their pre-COVID levels. delivered to society are obvious. But balance sheets. Governments increasingly Airport and port operators have rec- there have also been a few silver linings: see that the private sector can be a trusted ognized the need for technology and people have seen how quality of life can delivery partner. And, as a result, a range automation as a way to create greater resil- be improved by cleaner air and streets of new opportunities for private sector ience and stronger response mechanisms. reclaimed from the roar and congestion participation are emerging. Governments Over the coming year, expect to see greater of cars; and inequalities and economic im- and citizens should be delighted.

54 w BUSINESS LIFE FEBRUARY 2021 MIDDLE EAST MARKETS

Secretary-General Pololikashvili lead our company into the future is truly ing week) are not required to do PCR [email protected] ups in 2020. Total funding is up 13% from velopments on the GCC captive markets. nominated to lead UNWTO something to value,” Al Nahyan said. test at their point of departure but must 2019 while later stage deals increased by AM Best is a global leader in the rat- The Executive Council of the World Tour- perform a PCR test at the airport upon Aldar launches the “Aldar Scale Up 52%, according to Magnitt’s 2021 Venture ing of alternative risk transfer entities, ism Organization (UNWTO) has expressed MEA new rules as of 11 January 2021 their arrival to Lebanon and must home Programme” for Proptech startups Investment Report. This demonstrates the covering more than 200 such vehicles, in- its continued support for Secretary- Reference to the circular issued by the quarantine for one week from their date Aldar Properties (‘Aldar’) announced increase in demand for such deals, and cluding single-parent and group captives, General Zurab Pololikashvili. Meeting Directorate General of the Lebanese Civil of arrival. the launch of its corporate innovation the importance of the programme we risk retention groups, and will discuss the in Madrid, its members nominated him Aviation on 1/6/2021, regarding proce- • Cabin crew arriving to Lebanon for programme, Aldar Scale Up, in partner- are launching today. The PropTech sector main areas of analysing a captive. to continue leading the United Nations dures related to passengers arriving to a period of no more than 48 hours are ship with startAD, the Abu Dhabi-based seems to be finally gaining steam globally The webinar will also reflect on the specialized agency for four more years. Lebanon effective January 11,2021 in light exempted from doing PCR test upon ar- global accelerator at NYU Abu Dhabi and is revolutionising the landscape. As reasons for and benefits of establishing a At the end of the 113th session of the of the outbreak of the Corona pandemic, rival at the airport, and they shall remain and powered by its partner Tamkeen. this narrative evolves, it is important that captive’s, recent developments in the GCC Executive Council, held as a hybrid event Middle East Airlines, announces that the quarantined in one of the designated The virtual market access will provide a companies remain agile by tapping into captive market, and AM Best’s analytical in Spanish capital, Members voted in per- following procedures shall be applied as hotels during their stay in Lebanon. gateway to tangible growth opportunities, emerging trends and investing time and approach to rating captives. son and in secret for their choice of leader of January 11th, 2021 to all Passengers Designated hotels: build strong networks, and validate global resources in property technology. Vasilis Katsipis, general manager, mar- for 2022-2025. Incumbent Pololikashvili arriving to Lebanon as final destination: 1.All passengers arriving to Lebanon PropTech startups providing the latest cut- The Aldar Scale Up Programme is ket development, AM Best will moderate won 76% of the votes in a process where Passengers must hold PCR negative shall have a prepaid hotel booking for ting-edge real estate technology to enter a good fit to our innovation lens as it the sessions, which include presenta- the Kingdom of Bahrain also put forward test results from one of the certified 48 hours in one of the following hotels and grow in the the UAE market through provides a unique platform which con- tions and panel discussions by Ronny a candidate for the position, Shaikha Mai laboratories by local authorities at point designated by the Ministry of Tourism in pilot projects with Aldar and other nects promising PropTech startups with Vellekoop, senior executive officer, Marsh bint Mohammed Al Khalifa. Her Excel- of departure and show it at MEA check Lebanon with discounted rates: leading industry players in the region. companies and equips them with the Captive Solutions, Tim Tovell, group in- lency congratulated Pololikashvili on in counters. • Radisson Blu Martinez: +961 3 636032 The inaugural edition of the pro- tools to scale their businesses and grow in surance manager, DP World and Ghislain his win and the Government of Bahrain • Negative test result validity must not or +961 3 624268 or Whatsapp: +961 3 gramme will run virtually over a four- Abu Dhabi. We look forward to reviewing Le Cam, director, analytics, AM Best. expressed its support for UNWTO. exceed 96 hours between the test result 610168 month period, at the end of which ten the submissions for the programme and To register for joining this important Pololikashvili had based his campaign and the date of arrival to Lebanon. • Radisson Blu Verdun: +961 81 615196 startups will have the opportunity to seeing what the applicants have to offer.” seminar, please go to http://www.ambest. for re-election both on the progressive in- • Passengers who do not carry a nega- - [email protected] pitch to a selection committee and up to Speaking on the announcement of com/webinars/GCC21 Attendees can sub- stitutional and policy reforms undertaken tive PCR test result are not allowed to • Golden Tulip Hotels- Hamra: +961 1 five startups will be awarded pilot projects the programme, Research Professor of mit advance questions during registration during his first term, and on his clear board MEA flights. 347555 – www.midtownbeirut.com with Aldar. Startups will provide innova- Engineering, Vice Provost for Entrepre- or by emailing [email protected]. leadership of global tourism throughout • Passengers must complete the medi- • Parisian Hotel: +961 70 007366 - tive and sustainable solutions in the real neurship at NYUAD, and Managing Di- Webinar playback will be available to the COVID-19 pandemic. The Executive cal form issued by the Ministry of Public www.theParisianplaza.com estate sector such as effective energy rector of startAD, Ramesh Jagannathan, registered viewers shortly after the event. Council’s recommendation will be car- Health of Lebanon and this for is available • Royal Tulip Achrafieh: +961 76 management, the development of smart said: “Infrastructure and construction ried forward to the 24th Session of the through this link https://arcg.is/0GaDnG 666314 - www.royaltulipachrafieh.com cities, and the protection of biodiverse programmes are known to have a direct AM Best Announces NED Appoint- UNWTO General Assembly, due to be • Passengers shall undergo PCR test • Plaza Hotel: +961 3 928904 or +961 ecosystems. Opportunities to secure pilot link to economic growth, job creation, ment to Boards of A.M. Best Europe held in Marrakesh, Morocco, towards the upon arrival at Beirut Rafic Hariri Inter- 1 755777 projects with other UAE companies will and reduction of poverty. According to Rating Services Ltd., and A.M. Best end of the year. national Airport-Beirut. • Gefinor Rotana – Beirut: +961 3 be available for entrepreneurial ventures the McKinsey Global Institute, in order (EU) Rating Services, B.V. • Passengers shall have prepaid hotel 342238 - [email protected] during the pitching process. to keep pace with global GDP growth, the AM Best has appointed Steve Wilson as an Hana Al Rostamani is the first booking for 48 hrs. in one of the hotels or [email protected] Hub71, Abu Dhabi’s global tech eco- construction sector has to spend close to independent Non-Executive Director to woman CEO at UAE’s biggest lender designated by Lebanese Ministry of Tour- • Arjaan by Rotana: +961 71 114734 system, will also be joining the pro- $57 trillion by 2030. That is more than the Boards of its Europe, Middle East and First Abu Dhabi Bank (FAB) has appointed ism with discounted rates (listed below) - [email protected] gramme selection committee. PropTech 60% of what has been spent in the last two Africa (EMEA) region subsidiary, A.M. Best Hana Al Rostamani as the first woman and hotel buses will transport passengers • Casa D’or – Hotel: +961 1 startups selected for Aldar Scale Up will decades. Interestingly, 40% of this spend Europe Rating Services Ltd. (AMBERS), group chief executive officer of the UAE’s to their hotels. 746400/1/5/6 - www.casadorhotel.com automatically be shortlisted for Hub71’s could be recouped through improved pro- and its EU-based subsidiary, A.M. Best (EU) biggest lender by assets. • Passengers shall quarantine at hotels • Lancaster Hotels and Suites: +961 Incentive Program, which offers more ductivity by digitalization, and embracing Rating Services B.V. (AMBEU). His appoint- Al Rostamani, who is currently the for 48 hrs. until they are informed of test 1 791000 or Whatsapp: +961 70 380000 than $400,000 worth of equity-free sub- currently available technologies. ment is with effect from 1 January 2021. deputy group CEO, will replace André results that were performed upon arrival - www.lancaster.com.lb sidies including up to 100 per cent free Commenting on the appointment, Sayegh, Sheikh Tahnoon Bin Zayed Al at the airport. • Crowne Plaza Hamra: +961 1 734100 housing, health insurance and WeWork x AM Best Webinar to Focus on Cap- Matthew C. Mosher, President & CEO, AM Nahyan, FAB chairman, announced in a • Passengers with negative PCR result +961 1 111918 - reservation.cpbeirut@ Hub71 office space for up to three years. By tive Rating Approach and GCC Mar- Best Rating Services and Chairman of AM- bourse filing to the Abu Dhabi Securities will continue quarantine at their resi- ihg.cpm or [email protected] joining Hub71, startups will become part ket Trends for Captive Insurers BERS, said: “The appointment of Wilson as Exchange (ADX). dence for another 5 days. On on day seven • Imperial Suites: +961 76 722661 –res- of a growing community of entrepreneurs AM Best will host a complimentary webi- a Non-Executive Director to the Board of Sayegh, whose appointment was an- they must perform another PCR test at [email protected] which include more than 75 startups and nar on Tuesday, 19 January 2021, at 14:00 AMBERS and AMBEU represents another nounced in February last year, will be retir- their own expenses. Passengers with posi- • Warwick Palm Beach Hotel: +961 3 over 30 partners, further enabling better (GST) on captive insurance trends in the important step in the development and ing next month after 21 years with the bank. tive result shall follow Ministry of Public 698781 [email protected] or access to market capital, talent, and the Gulf Cooperation Council (GCC) region. governance of our businesses across the Hana has a Master’s degree in in- Health instructions. reservation.palmbeach@warwickhotels. business and regulatory environment. Captives are an important risk manage- EMEA region and within the EU. Wilson formation management from George Exemptions: com Commenting on the Aldar Scale Up ment tool for their owners, providing has extensive experience of the insurance Washington University in the US and has • Diplomats and their families, of- • Smallville Hotel: +961 76 666314 Programme, Maan Al Awlaqi, Executive them with the flexibility to navigate the industry and has interacted extensively been in the field of banking and financial ficials, official delegations, officers and - [email protected] Director, Strategy and Transformation, insurance and reinsurance underwriting with boards, investment analysts, rating services for more than 20 years. She has members of the UNIFIL are exempted or [email protected] Aldar Properties, said: “Fostering a culture cycles and maintain access to the risk agencies, regulators and auditors with a served as an independent director in from the hotel quarantine. • Le Royal Hotel- Beirut: Whatsapp: of innovation internally at every level of cover they require on an ongoing basis. Re- focus on actuarial and risk governance.” Emirates Integrated Telecommunication • Passengers who have been vac- +961 81 796337 : reservation-bey@ our business helps us create intellectual cent market and regulatory changes have Wilson, a qualified actuary, has over 30 Company (Du) and was vice chairperson cinated by Covid-19 vaccine with a leroyal.com and practical progress at Aldar towards a meant that captives are becoming increas- years’ experience in the insurance indus- of the Emirates Institute for Banking and medical report certifying that, are ex- • Hilton Beirut Habtoor Grand: +961 1 better customer experience and lifestyle. ingly appealing to regional corporates. try. In addition to his actuarial roles, his Financial Services. empted from the hotel quarantine and 516060 Whatsapp: +961 3 565790 beyhg. This encompasses both product ideation This event brings together two global experience includes risk management and She has been responsible for leading must perform a PCR test upon arrival [email protected] or faten.khoury@hil- and enhancements and further leads to captive market leaders to highlight the general management. He has worked in- the consumer bank vision towards cus- at the airport. tom.com improvement in processes and UX experi- benefits of captives from an owner’s ternationally for over 15 years in roles that tomer centricity and digitisation. • Passengers who have left and re- • Kanaan Group Hotel: +961 70 177273 ences. The MENA region is gaining signifi- perspective, as well as to discuss the par- included Group Chief Actuary for Zurich, “FAB has always been an organisation turned to Lebanon within one week (who +961 08 376283 - www.kanaanhotel.com cant strides in cultivating a startup culture ticipants’ experiences in operating within Head of Zurich’s Global Specialty Product that champions diversity and the appoint- travelled during one day of the week and • Jieh Marina Resort Hotel: +961 3 and harnessing homegrown talent, with a the GCC markets. Marsh, as the world’s practice and Global Chief Risk Officer of ment of our first female group CEO to returned on same day during the follow- 167776 or Whatsapp: +961 07 996196 record $1 billion dollars invested in start- largest captive manager, will present de- Zurich’s general insurance businesses.

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President signs three parliament- in a legal and moral responsibility on part approved laws: Regulating CO- of the inactive minister towards citizens.” RONA vaccine use Moreover, the statement called on the President of the Republic, General Michel Ministry of Public Health and the Coro- Aoun, signed the three laws that were ap- navirus Committee to “adopt a decision proved by the Parliament in yesterday’s banning travel to Lebanon from countries session: where the mutated Corona strains appear.” - Law No. 211 related to regulating Conferees expressed their concern the emerging use of medicinal products about the increase in the number of peo- to combat the “COVID-19” ple infected with Coronavirus and the - Law No. 212 relating to the extension number of deaths, in light of the limited of time limits capabilities of both the state and the - Law No. 213 aiming at authorizing private sector. the collection of revenues as in the past and the disbursement of expenditures from Enemy gunboat infiltrates into the first of February 2021 until the issu- territorial waters off Ras Naqoura ance of the 2021 budget, on the basis of the A gunboat belonging to the Israeli enemy twelfth rule. As a result of the President’s violated, the Lebanese territorial waters signature, these laws become effective off Ras Naqoura, and infiltrated some 203 and valid for publication in the Official meters into the sea, a communiqué by the Gazette, and shall come into force upon Lebanese army indicated lately. Violations publication. --{Presidency Press Office} are a matter of coordination between the Lebanese Armed Forces and the UNIFIL. Geagea: To direct the remaining reserves of the Central Bank ex- Lebanon submits complaint to clusively to poor families Security Council to release kid- Head of the Lebanese Forces Party, Samir napped shepherd immediately Geagea, called on the President of the After the Israeli enemy kidnapped Leba- Republic, Caretaker Ministers and Central nese shepherd, Hassan Zahra, from Maz- Helping the underprivileged: Prime Minister Saad Hariri meets Prime Minister Hassan Diab Bank Governor to save the remaining raet Bastara lately, Lebanon submitted a funds of the depositors’ money for the complaint to the Security Council, Beirut needy families in the country. time, through Lebanon’s permanent Hariri calls for respect of COVID with limited income and the daily-paid commemoration of the assassination of the Middle East and the world in a way Geagea pointed out that “instead of the representative to the United Nations, measures, for helping the under- workers who are trying hard to secure the martyr Prime Minister and his com- that preserves Lebanon, its unity and its subsidy going to needy families, we see the Ambassador Amal Mudallali, regarding privileged their daily subsistence. Consequently, panions, including gathering in front of stability,” noting that “the Lebanese must bulk of it being smuggled into Syria, or as the repeated Israeli violations against The Press Office of Prime Minister-des- there is an ethical responsibility for the his grave or holding meetings. formulate unified national positions from an excuse for some traders or importers, or Lebanon’s sovereignty. ignate Saad Hariri issued the following: prosperous people in all sects, regions, The Corona pandemic has taken the the major entitlements to ensure that the a waste for those who do not need support.” Ambassador Mudallali raised the On top of all the obstacles and tensions parties and economic sectors, to show soli- lives of friends, loved ones and relatives, country is spared any turmoil as a result “In addition to all the losses that the complaint to both Secretary-General of that prevent the birth of the government, darity and cooperate to help the deprived and entered our homes without permis- of divisions.” They stressed “the necessity current ruling group has inflicted on the United Nations, Antonio Guterres, and the Corona pandemic remains a national, people and reduce the deprivation and sion to sow terror and anxiety. It reaps of giving priority to reform and anti- the Lebanese people over the past four Permanent Representative of Tunisia to moral and humanitarian issue that does hunger of the citizens. However, the major citizens one by one, but neglect will open corruption laws, and the need to quickly years, there is an unrelenting crime that the United Nations and President of the Se- not tolerate outbidding, neglect, and responsibility falls on the Lebanese and for it the gates of tragedy. pass them at the House of Representatives, continues to happen until now against curity Council, Ambassador Tarek Ladeb. socio-economic justifications, regardless residents collectively, starting from our God Almighty says in His Holy Quran: especially the laws related to the funds the remaining Lebanese deposits,” he of their severity. homes, our environments, our parties, our “You shall spend in the cause of GOD; and deposits of the Lebanese people and concluded. Berri welcomes UK Chargé Lebanon is on the verge of reaching mosques and our churches, the responsi- do not throw yourselves with your own the laws for controlling transfers abroad d’Affaires, receives cable from first position in COVID-19 cases, which bility to strictly adhere to the obligations hands into destruction. You shall be chari- (capital control), the recovery of money FPM: Corona is an incentive to Iraq’s Al-Kazemi is extremely dangerous and concerns the of prevention, safety and discipline. table; GOD loves the charitable.” transferred and smuggled abroad, the re- accelerate government formation House Speaker, Nabih Berri, received at Lebanese, the residents and the displaced The Lebanese medical and health staff, covery of looted funds, and the disclosure The “Free Patriotic Movement” political his Ain El Tineh residence, UK Chargé without exception. This calls for a deep in public and private hospitals, the Red Strong Lebanon renews call on of the accounts and properties of officials body held its periodic meeting, chaired d’Affaires in Lebanon, Martin Longden, awareness of the health repercussions in Cross, the civil defense, the laboratories, Hariri to communicate with Presi- and public servants.” by its Chief, MP Gebran Bassil, follow- with whom he discussed the general situ- case the ongoing violations and proce- pharmacies, clinics and dispensaries, dent ing which an issued statement indicated ation and the bilateral relations between dures that do not rise to the level of the constitute the first line of defense for the The “Strong Lebanon” parliamentary bloc Abdel Samad discusses with Fis- that “Corona crisis should be a catalyst Lebanon and the UK. danger persist. safety of people and combating the pan- hoped, in a statement following its peri- chbach. official media cooperation to accelerate the formation of the gov- Later, Speaker Berri met with Vice Head I call today on all the Lebanese, espe- demic, but the national and moral duty odic meeting headed by MP Gebran Bassil, Caretaker Minister of Information, Dr. ernment, and it should motivate the of the Islamic Supreme Shiite Council. cially our beloved ones in the popular calls on us, citizens and officials, to pro- that “the time has come and conditions are Manal Abdel Samad Najd, held a virtual caretaker government to carry out its Sheikh Ali Khatib. regions and neighborhoods, to stay home vide protection and safety requirements complete to form the long-awaited gov- meeting via Zoom app, with Public Policy duties, especially the ministers who in- Berri received head of the State Shura and to stop all forms of socializing and to this heroic team to be able to carry out ernment,” calling upon PM-designate Saad Manager for the Levant at Facebook, Tara terpret the resignation as a disclaimer of Council, Judge Fadi Elias, and the Govern- activities. We are facing a pandemic that its role. In this regard, we will start with Hariri to end the stalemate and commu- Fischbach. responsibility and abandonment of work.” ment Commissioner to the Council, Judge does not have mercy on anyone, old or ourselves, by calling on all partisans and nicate with the President of the Republic Discussions focused on the possibili- The FPM polit-bureau statement con- Feryal Dalloul, where they discussed a young, rich or poor, educated or illiterate, supporters of the Future Movement and to form the promised reform government ties of cooperation between the Ministry firmed that “the constitution holds the draft law on the independence of the judi- citizen or resident, Muslim or Christian. of martyr Prime Minister Rafic Hariri in in accordance with the principles of the of Information and Facebook in the media caretaker government responsible for cial authority. Berri received a cable from There is certainly a responsibility on the regions, to take this call seriously and Charter and the rules of the constitution. and awareness campaigns on social media inaction, which, in light of these difficult Iraqi Prime Minister, Mustafa Al-Kazemi, the state and its duty is to provide the to abide by it, and to refrain from organ- Conferees called on the bloc to “keep networks, mainly through the Ministry’s health and financial conditions, leads to congratulating him on the New Year and necessities, especially for the poor, those izing any activities for the approaching abreast of the changes taking place in two electronic pages on COVID-19. harm and even danger to citizens, resulting the holy holidays.

58 w BUSINESS LIFE FEBRUARY 2021 BUSINESS LIFE FEBRUARY 2021 w 59 INFORMATION INDUSTRY China’s Automotive Industry Intensifies Electrification Efforts, Sustainability a Key Focus

Leading and emerging Chinese autotech innovators in electrification revealed; New energy vehicle affordability remains a key value proposition

greement between Saudi Aramco transportation. global battery suppliers, it is unlikely that Development Company, a subsidi- Norbert Meyring, Partner, Head of Au- foreign suppliers can gain more share in ary of Aramco, and Google Cloud tomotive Sector at KPMG China, says: “We future since more global OEMs are tying A paves way for rollout of high- are in the midst of an auto industry evolu- up with local suppliers. “Leading Chinese performance, low-latency cloud services tion fusing electrification, mobility, service NEV battery suppliers, along with other China rises to fourth globally in market innovation and connectivity. Not only are major Asia suppliers in Japan and Korea, share of electric cars, KPMG report finds. New the new generation of start-up OEMs suc- will continue to be the leaders in the global regulations, expanded autonomous vehicle cessfully selling NEVs, but traditional OEMs supply chain considering their strong testing across country help drive growth. are acting on their commitments to launch market position,” says Miguel Montoya, Increased consumer demand for sustain- their own NEV products. As a result, China Partner, Deal Advisory, KPMG China. In Electric car with open doors: China rises to fourth globally in market share of electric cars able vehicle options and policy evolutions and major automotive nations are witness- terms of challenges, insufficient charging have driven China’s automotive industry ing the beginning of a vibrant NEV market.” infrastructure has always been a key setback participants to intensify their efforts on China’s NEV market has been domi- in consumers’ desire to switch to NEVs. To electrification, according to KPMG’s latest nated by domestic manufacturers who catch up with the growth of NEV ownership industry pioneers like Tesla and other NEV China leapt to fourth globally in market pilots, marking a significant jump from last research report. As part of the fourth KPMG have had more than a combined 80 percent in the future, the growth pace of charging start-ups, many traditional domestic OEMs share of electric cars, up seven places from year’s showing of 16th. In another encourag- China Leading Autotech 50 initiative, a list market share in recent years, while tradi- pile counts will only speed up given the have adopted a new business model to help last year, a KPMG report has found. ing sign, China led all countries in consumer of China’s leading and emerging autotech tional foreign OEMs have taken a more current insufficiency. This creates opportu- foster new thinking or decision processes The country’s new ranking behind adoption of online ride-hailing apps. innovators in electrification has been re- conservative pace towards electrification. nities backed by the Chinese government’s while also allowing more possible collabo- Norway, Sweden and the Netherlands came Philip Ng, Partner and Head of Technol- leased today along with the report. However, given the government support, support for charging network expansion. rations with external parties. Luther Kang, in the second annual Autonomous Vehicles ogy, KPMG China, says: “Autotech continues This report on electrification, titled infrastructure improvements and closing While major operators have begun to Partner, Automotive Strategy, KPMG China, Readiness Index, which aims to provide an to attract attention from VC investors in Sinocharged: The bright future of China’s production cost gap between NEV and collaborate to improve pile availability also says: “Nowadays traditional domestic understanding of various countries’ pre- China – from autonomous vehicles to ride electric vehicle market, highlights how internal combustion engine (ICE), foreign information, the benefits of a connected OEMs are launching their latest NEV prod- paredness and openness to AV technology. sharing. VC investors are keenly interested the new energy vehicle (NEV) market in OEMs are keen to expand their NEV product charging pile network go beyond that. Be- ucts under separate brands, in some cases Huu-Hoi Tran, Partner, Automotive, in new and competitive options such as China has changed over the past year and offering. Going forwards, they are expected sides collecting vehicle charging data and under a stand-alone business entity. OEMs KPMG China, says: “Autonomous driving in electric cars, battery power and charging summarises trends in three major areas of to gain market share in the NEV segment via electricity usage data, a smart connected are taking a similar approach with their new China will come gradually on certain routes, infrastructure.” electrification, namely original equipment their Chinese joint ventures. charging pile network can also provide subsidiaries. Standalone identities simplify streets and highways. That boosts confi- KPMG will release the complete China manufacturers (OEMs), the battery value The overall combined vehicle market NEV usage data such as driving and charg- strategic investments by and cooperation dence in steadily developing autonomous Leading Autotech 50 list around mid-2021. chain and electric vehicle (EV) charging. size will likely not grow fast enough to ing habits. The big data obtained from the with external parties.” driving functions, from easier routes to more The complete list will cover four major ar- The report analysis integrates observations match the sales targets of all the OEMs, so NEV fleet in occasions like charging can Looking ahead, Chinese and global NEV complex situations, including AVs operating eas, namely electrification, mobility, service from KPMG partners involved in the auto market consolidation is inevitable. “Mar- also reveal valuable details of the lifestyles demand and fleet size will continue to grow in public alongside conventional cars.” innovation, and connectivity. industry, as well as input from in-depth in- ket leadership changes will be ongoing, of NEV owners. rapidly due to government support, OEMs’ Tran cites new regulations and a push KPMG member firms and their affiliates terviews from senior management of some but since traditional OEMs are now more “Charging pile utilization is usually increasing commitments and further NEV to expand AV testing across the country operating in mainland China, Hong Kong of China’s most innovative automotive serious about electrification, competition low and efficiency/profitability cannot be adoption by car owners, according to the re- as helping drive growth in 2018. Given SAR and Macau SAR are collectively referred start-up companies. will become more intense both locally and enhanced by only analyzing simple charg- port. The wider use of NEVs will also create its sizeable market and the introduction to as “KPMG China.” KPMG China is based In 2020, China saw a dramatic shift globally.” says Gary Xu, Partner, Mergers and ing data. But if combined with data on NEVs’ a new ecosystem from the traditional ICE of new technology such as 5G, China has in 27 offices across 25 cities with around within the NEV market, from being histori- Acquisitions, KPMG China. conditions and usage patterns, more custom- value chain, in areas such as NEV-specific huge potential to be one of the world’s most 12,000 partners and staff in Beijing, Chang- cally supply and policy driven to revealing NEV affordability remains a key value ized value-added services such as car care components, charging and peripheral important AV markets, Tran adds. sha, Chengdu, Chongqing, Foshan, Fuzhou, more characteristics of a demand-driven proposition, and since the battery is the and shopping can be offered to NEV owners, services, and other big data applications, China also placed fourth globally in Guangzhou, Haikou, Hangzhou, Hefei, marketplace, as more consumers put em- major cost item for NEVs, OEMs that can thus making the charging network a more and creates new business opportunities for electric vehicle charging stations, behind Jinan, Nanjing, Ningbo, Qingdao, Shang- phasis on an environmentally friendly develop or source better-quality batteries valuable habitat,” comments Phil Yu, Part- young auto tech companies. “They are par- the Netherlands, Norway and South Korea. hai, Shenyang, Shenzhen, Suzhou, Tianjin, lifestyle and demand sustainable vehicle op- would have an edge versus their peers. ner, Management Consulting, KPMG China. ticipating in the NEV industry at the right The country doubled its charging infrastruc- Wuhan, Xiamen, Xi’an, Zhengzhou, Hong tions. In addition, there have been changes China has been securing access to the major China has been the world’s largest NEV time and in the right place. As the industry ture in the past year, from 2.5 stations per Kong SAR and Macau SAR. Working col- in the stance by regulators. For instance, material resources to make NEV batteries market by sales volume since 2015 and is still evolving, there are still opportunities 100 kilometres of roadway to 5.7. laboratively across all these offices, KPMG China pledged to become carbon-neutral and is a forerunner in the materials pro- is expected to maintain that position for for technology disruptors for both products Further, China ranked fifth in the world China can deploy experienced professionals by 2060, partly via the electrification of cessing industry. Despite the entry of some years to come. To address challenges from and services,” Meyring concludes. in government-funded autonomous vehicle efficiently, wherever our clients are located.

60 w BUSINESS LIFE FEBRUARY 2021 BUSINESS LIFE FEBRUARY 2021 w 61 Exhibition Dates Venue Organizer Contact Conference Dates Venue Organizer Contact

Iraq Oil and Gas 2-3 March 2020 Babylon Hotel, Baghdad Ministry of Oil Announces events@frontier-exchange. Iraq Oil and Gas Show 2-3 March Babylon Hotel, Baghdad Ministry of Oil Announces events@frontier-exchange. Show com 2020 com

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Iraq Oil and Gas 2-3 March 2020 Babylon Hotel, Baghdad Ministry of Oil Announces events@frontier-exchange. Iraq Oil and Gas Show 2-3 March Babylon Hotel, Baghdad Ministry of Oil Announces events@frontier-exchange. Show com 2020 com Middle East Middle East Healthcare Healthcare Financing 9-10 March, 2020 Rosewood Hotel, Abu Dhabi Maarefah [email protected] Financing Summit 9-10 March, Rosewood Hotel, Abu Dhabi Maarefah [email protected] Summit 2020 9th Middle East 9th Middle East Business Business & IT 12th March 2020 Dubai, UAE N/A [email protected] & IT Resilience Summit 12th March Dubai, UAE N/A [email protected] Resilience Summit 2020

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STEP 2020 11 – 12, February Dubai, UAE Step Group [email protected] STEP 2020 11 – 12, Dubai, UAE Step Group [email protected] 2020 February 2020

The 4th annual Dubai Global Reinsurance, in The 4th annual Dubai Global Reinsurance, in World Insurance 26 – 27, February Jumeirah Beach Hotel, partnership with Dubai Int’l [email protected] World Insurance 26 – 27, Jumeirah Beach Hotel, Dubai partnership with Dubai [email protected] Congress (DWIC) 2020 Dubai Financial Center Congress (DWIC) February 2020 Int’l Financial Center

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Middle East Middle East Healthcare Healthcare Financing 9-10 March, 2020 Rosewood Hotel, Abu Dhabi Maarefah [email protected] Financing Summit 9-10 March, Rosewood Hotel, Abu Dhabi Maarefah [email protected] Summit 2020

9th Middle East 9th Middle East Business Business & IT 12th March 2020 Dubai, UAE N/A [email protected] & IT Resilience Summit 12th March Dubai, UAE N/A [email protected] Resilience Summit 2020

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62 w BUSINESS LIFE FEBRUARY 2021 BUSINESS LIFE FEBRUARY 2021 w 63 WHAT’S NEW

system which delivers drivers a better over- Traffic Jam assist (Premium Plus and Pres- all user experience through faster process- tige trim levels) assists the driver with ac- ing speeds and higher resolution. celeration and braking, maintaining speed Available second-generation Audi and following distance between speeds of virtual cockpit plus featuring a 12.3-inch 0-95 mph and during traffic jam situations display that offers HD resolution of 1920 x between speeds of 0-40 mph. 720 pixels. The driver can choose between Available Top view camera system three viewing modes – classic, sport and dy- (Premium Plus and Prestige trim levels) namic. On SQ5 models, sport mode replaces uses four wide-angle cameras to display the the classic mode as the default view, and an entire area surrounding, projected on the S Performance mode is added, which brings MMI® screen, allowing the driver to “see” the tachometer and the speedometer to the around the vehicle to help with maneuver- front and center of the display and allows ing in tight spaces. for customizable displays to the left and This information and any vehicle specifi- right of the screen. cations are preliminary and subject to change. Standard Audi smartphone interface Always pay careful attention to the provides access to wireless Apple CarPlay™ road, and do not drive while distracted. Audi and Google™ Android Auto for compatible connect should only be used when it is safe devices. The Integrated Toll Module (ITM) and appropriate. Audi connect services and is standard on all Q5 models. The ITM is features are optional, provided with the a toll transponder built into the vehicle’s support of authorized affiliated and third rearview mirror, allowing drivers to access party service providers, and may require ad- compatible toll road services in the U.S. and ditional subscriptions with separate terms in parts of Canada without the need for an and conditions. Available on select models. externally mounted transponder. Certain services collect location informa- Available Bang & Olufsen sound system tion, see Terms of Service for information with 3D sound delivers nearly true-to-life about how to disable and for other details. surround sound through 19 speakers, Connect services are subject to technologies including a subwoofer and center speaker, remaining commercially available, and such and a 16-channel amplifier producing an services are not guaranteed. output of 705 watts. Always obey local speed and traffic laws. Driver assistance features *Class leading 0-60 mph claim based on Audi Q5 Sportback models maintain a competitor data available at time of publi- full suite of standard and available driver cation. Audi of America, Inc., defines the assistance features, designed to help drivers competitive segment as the 2021 Q5 Sport- confidently navigate the road and traffic. back, 2021 BMW X4 xDrive 30i, and 2021 Standard Audi side assist provides Mercedes-Benz GLC 300 4MATIC Coupe. blind spot monitoring via LED indicators Driver Assistance features are not sub- on the exterior mirror housings at speeds stitutes for attentive driving. See Owner’s 2021 Audi SQ5 Sportback (European model shown) above 9 mph. Manual for further details, and important Standard Lane departure warning helps limitations. keep the driver within the driving lane, if Integrated Toll module requires registra- other Sportback models, the A5 Sportback, designs with unique signatures. and propels the car from 0-60 mph in 4.7 the lane is about to be departed, through tion and paid subscription with BestPass, 2021 AUDI Q5 SPORT- A7, and fully electric e-tron Sportback. Inside, Sportback models offer 24.7 cubic seconds. corrective steering intervention and wheel Inc. Subscription fee does not cover in- The Sportback offers customers an feet of cargo capacity with the seats up and The SQ5 Sportback also comes standard- vibration at speeds above 40 mph. dividual tolls. Coverage area limited. See BACK AND SQ5 elegant, sloping roofline for those looking 51.9 cubic feet of cargo capacity with the equipped with adaptive dampers and offers Standard Audi pre sense rear (as part of bestpass.com for details.When using the for expressive design and sportier stance seats folded which further emphasize the an available air suspension that allows for Audi side assist) uses radar sensors in the MMI touch display, always pay careful at- SPORTBACK while maintaining a high-level of everyday everyday usability expected from the Q5 adjustment of the ride height in addition to rear bumper to help detect an impending tention to the road, and do not drive while usability. model line. the firmness of the dampers, controllable rear-end collision, and can initiate preven- distracted. See Owner’s Manual for further AUDI RECENTLY ANNOUNCED TWO Further differentiating the Sportback Powertrain and performance via the standard Audi drive select. Available tative measures. Standard Parking system details, and important limitations. all-new variants for its best-selling, re- from the SUV, standard equipment includes: The Audi Q5 Sportback utilizes a 2.0-liter dynamic steering offers a variable steering plus helps make parking easier with front Audi of America, Inc. and its U.S. deal- cently refreshed Audi Q5 model line, the 19-inch 5-double arm design wheels TFSI® engine to generate 261 horsepower ratio that adjusts based on vehicle speed and and rear proximity acoustic parking sensors, ers offer a full line of German-engineered 2021 Q5 Sportback and SQ5 Sportback. Deletion of roof rails and 273 lb-ft of torque. The engine is mated the Audi drive select setting. when the vehicle is in both reverse and luxury vehicles. AUDI AG is among the The arrival of these new variants brings S line exterior to a seven-speed S tronic® dual-clutch trans- Interior design and infotainment drive, at speeds under 6 mph. most successful luxury automotive brands, customers expressive coupe design to Panoramic sunroof mission and quattro® all-wheel drive with Drivers will find Sport front seats, a Standard Rear cross traffic assist (as part delivering about 1.845 million vehicles glob- an SUV with a high level of everyday us- Sport front seats ultra technology to deliver a class-leading black headliner, Gray-Brown Birch natural of Audi side assist and parking system plus) ally in 2019. In the U.S., Audi of America ability. The Sportback variants maintain Standard LED headlights with distinc- 0-60 mph time of 5.7 seconds among com- wood inlays, and a panoramic sunroof all supports the driver when reversing out of a sold just over 224,000 vehicles in 2019 and benchmark-setting connectivity services, tive daytime running light signature or pact premium SUVs*. standard equipped to further elevate the perpendicular parking space. Indicator ar- launched the brand’s first fully electric including new MIB 3 infotainment hard- available Matrix-design LED headlights. The Audi SQ5 Sportback delivers 349 interior of the Sportback model. rows in the MMI® display can help inform vehicle, the Audi e-tron – one of four fully ware, Audi virtual cockpit fully digital Audi SQ5 Sportback models offer next- horsepower and 369 lb-ft of torque through Horizontal lines dominate the interior the driver of approaching vehicles, and in electric models coming to the U.S. market in instrument cluster, and head-up display. generation OLED lighting technology as its 3.0-liter TFSI® V6 engine. Its eight-speed leading to the large 10.1 inch MMI® touch- critical situations, a warning tone and brake the next two years. Globally, the brand aims Powerful presence part of the Prestige trim. The OLED tail- Tiptronic® transmission is well-suited for screen (1,540 x 720 pixels) which serves as jolt can be applied, prompting the driver to to be CO2 neutral by 2050. Visit audiusa.com Audi Q5 Sportback variants exude a light is split into three tiles of six segments the low-end torque of the turbocharged V6 the focal point of the dashboard. The MMI® fully stop the vehicle. or media.audiusa.com for more information captivating presence similar to the brand’s each, allowing for bright and efficient light and its gears provide quick, smooth shifts, is backed by the all-new MIB 3 infotainment Available Adaptive cruise control with regarding Audi vehicles and business topics.

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