Saudi EXIM Bank Goes Live on Temenos Core Banking Platform

Temenos’ leading functionality and modern technology enable Saudi EXIM Bank to drive operational and financial efficiency in trade finance

GENEVA, SWITZERLAND  –  EQS Newswire – 29 March 2023  –  Temenos (www.Temenos.com) (SIX: TEMN) today announced that Saudi Export-Import Bank (Saudi EXIM Bank) (https://apo-opa.info/42NrEET) has implemented Temenos core banking platform (https://apo-opa.info/3G2pGXB), going live in just six months. Temenos enables Saudi EXIM Bank to drive operational and financial efficiency, making it faster and easier for businesses to access trade finance, promoting job creation and economic growth in the Kingdom of Saudi Arabia (KSA).

Temenos’ modern and cloud-native, core banking platform was rapidly deployed. Saudi EXIM Bank worked closely with Temenos and its consultancy and implementation partners, which brought deep local market expertise. Furthermore, Temenos KSA Model Bank approach offered pre-packaged functionality and best practices, which helped the bank meet its business and regulatory requirements in a timely and effective way. Temenos Project Consulting Services with their knowledge and best practices also helped accelerate the project delivery.

Saudi EXIM Bank provides holistic financial services, catering specifically to the needs of businesses in KSA engaged in international trade. By implementing Temenos core banking platform, the bank can streamline its operations and automate processes increasing the bank’s operational efficiency. Temenos’ open platform for composable banking offers flexible and comprehensive coverage for a variety of facility types.

Saudi EXIM Bank was established in 2020 to promote the export of Saudi non-oil products and boost their competency across economic sectors in the global markets. The bank provides financing services, guarantees, and credit insurance with competitive advantages, to enhance confidence in Saudi products.

H.E. Eng. Saad Bin Abdulaziz AlKhalb, CEO of Saudi EXIM Bank, commented: “Our core banking system implementation with Temenos is a step forward for Saudi EXIM Bank to better equipped for achieving the development goals of the Kingdom’s Vision 2030. It will enable faster transaction processing times, improved customer experience, and a more efficient use of resources. It will also help us to better manage risks, with improved data analytics and real-time monitoring capabilities. We are pleased that we have been able to go live in such a short time aided by Temenos’ understanding of banking in Saudi Arabia and its pre-built banking processes.”

William Moroney, Managing Director – Middle East and Africa, Temenos, said: “I would like to extend my congratulations to the team at Saudi EXIM Bank on their go-live with the Temenos cloud-native core banking platform. To implement a new core banking system in under six months is a fantastic achievement. Temenos has a strong presence in the Middle East region with the experience of taking many of the region’s leading banks live on our platform. Banks of the future need a modern, agile core and with deployable components which cover all areas of banking. We look forward to seeing Saudi EXIM Bank and trade finance flourish in KSA on their new Temenos platform.”

Prema Varadhan, President Product and Chief Operating Officer, Temenos, said: “With clients such as Allied Irish Bank (AIB) (https://apo-opa.info/3TOH3km) in Ireland, Commerce Bank (https://apo-opa.info/3lLtWE5) in the USA, and Al Rajhi (https://apo-opa.info/40p0cMn) in Saudi Arabia, corporate banking is a key focus for Temenos. We have a robust product roadmap and we continue to invest heavily to deliver rich corporate banking functionality to help banks reduce the number of legacy systems on a cloud-native platform and improve automation and efficiency.”

In 2022, Temenos was named a leader in The Forrester Wave™: Digital Banking Processing Platforms for Corporate Banking, Q3 2022 (https://apo-opa.info/40l1kAs), with Forrester stating that “Temenos sets the pace in AI-powered banking capabilities and application architecture.”

Distributed by APO Group on behalf of Temenos.

About Temenos:
Temenos (SIX: TEMN) is the world’s leading open platform for composable banking, creating opportunities for over 1.2 billion people around the world every day. We serve 3000 banks from the largest to challengers and community banks in 150+ countries by helping them build new banking services and state-of-the-art customer experiences. The Temenos open platform helps our top-performing clients achieve return on equity three times the industry average and cost-to-income ratios half the industry average. For more information, please visit www.Temenos.com.

Media Contacts:
Jessica Wolfe & Scott Rowe
Temenos Global Public Relations
Tel: +1 610 232 2793 & +44 20 7423 3857
Email: press@temenos.com

Alistair Kellie
SECNewgate on behalf of Temenos
Tel: +44 20 7680 6550
Email: allnewgatetemenos@secnewgate.co.uk

ABU DHABI Arabic Language Centre launches ‘Medad’ library services platform

ABU DHABI, 29th March, 2023 (WAM) — The ABU DHABI Arabic Language Centre (ALC), part of the Department of Culture and Tourism – ABU DHABI (DCT ABU DHABI), has launched the ‘Medad’ Library Services Platform to provide best experience for library users and ensure that it meets the requirements of the libraries of the future. The initiative forms part of the ALC’s activities for National Reading Month 2023 and aims to support the comprehensive digital transformation of the UAE’s culture and knowledge sectors, aligning initiatives with the latest and most advanced technologies used in the libraries and information sector around the world. The ‘Medad’ Library Services Platform and its library services website portal enable stakeholders to benefit from a range of digital services that include establishing library memberships, book lending, automatic indexing, electronic searches, access to digital databases, and communication with library specialists, among others. Dr. Ali bin Tamim, Chairman of the ALC, said, “Digitisation touches every aspect of life today, including the fields of culture, education, and creativity. The ABU DHABI Arabic Language Centre is keeping pace with this major shift, implementing projects to digitise culture and knowledge and ensure the widest possible audiences have seamless access to these resources. The ‘Medad’ Library Services Platform is a remarkable new addition to the Centre’s digital initiatives, offering comprehensive library services and adhering to the highest standards of security to ensure reliability for users.” The platform’s website portal provides access to more information related to the management of specialised libraries, in particular, and about the ABU DHABI Arabic Language Centre in general. Visitors can view the events schedule and read the latest news. Additional services are set to be added to the website in the future.

Source: Emirates News Agency

ABU DHABI Stem Cells Centre appointed as Centre of Excellence in stem cell transplantation

ABU DHABI, 28th March, 2023 (WAM) — In line with its constant efforts to consolidate ABU DHABI’s position as a leading destination for healthcare, and to enhance the competitiveness and effectiveness of the healthcare sector for all patients in the emirate, while providing the highest levels of quality for all patients, Department of Health ABU DHABI (DoH), the regulator of healthcare sector in ABU DHABI, has announced ABU DHABI Stem Cells Center (ADSCC) as a Centre of Excellence in hematopoietic stem cell transplantation. The announcement is a testament to the centre’s state-of-the-art infrastructure and its high-quality services in bone marrow transplantation. Operating according to the best and latest international, evidence-based practices, and led by a team of internationally recognised experts, to achieve the best patient outcomes possible in the emirate and beyond. Centres of Excellence are healthcare facilities which provide specialised and distinguished programmes with a high level of expertise and multidisciplinary resources, allowing them to conduct advanced medical procedures in specific clinical areas and conduct complex research to provide the highest levels of care, based on best global practices. The announcement was made at a ceremony organised by Department of Health ABU DHABI at its headquarters in the presence of Mansoor Ibrahim Al Mansoori, Chairman of the Department of Health ABU DHABI, Dr. Noura Al Ghaithi, Acting Under-Secretary of the Department of Health – ABU DHABI, Dr. Yendry Ventura, CEO of the ABU DHABI Stem Cells Centre, and Dr. Fatima Alkaabi, Executive Director of Bone Marrow Transplant Programme at the ABU DHABI Stem Cells Centre. s a Centre of Excellence in hematopoietic stem cell transplantation, ADSCC will provide an integrated and specialised range of surgical and non-surgical clinical services with world-class healthcare quality for patients who require hematopoietic stem cell transplantation for the treatment of blood diseases that includes autologous stem-cell transplantation, and allogeneic stem-cell transplantation and CAR-T cell therapy. In addition, ADSCC will establish an integrated laboratory for the diagnosis of leukaemia, headed by an expert team of doctors specialising in bone marrow transplantation. Members of the experts’ team all hold an accredited American or Canadian Board or an equivalent certification. iven its distinguished and extensive experience, ADSCC will contribute to advancing medical research, promoting continuing medical education, and providing training opportunities for medical personnel from various health facilities. Dr. Al Ghaithi said, “The support and guidance of our wise leadership is what inspires us to continue propelling the healthcare sector in the emirate forward on a path of excellence. As we recognise the first Centre of Excellence specialising in hematopoietic stem cell transplantation, we are enhancing the competitiveness and efficiency of the healthcare sector in ABU DHABI and moving steadily towards cementing the emirate’s position as a leading destination for healthcare worldwide. “Department of Health ABU DHABI has put forth a set of standards and guidelines to ensure operational efficiency and guarantee that Centres of Excellence in the emirate provide community members with a patient-centred healthcare experience. Patients in ABU DHABI will have access to specialised healthcare facilities, which provide services of exceptional quality, safety, and high efficiency, led by experienced and competent healthcare professionals.” To ensure that patients have easy access to high-quality bone marrow transplantation services, the Hematopoietic Stem Cell Transplantation Council was established, led by the ABU DHABI Stem Cells Centre, where a group of haematology experts in the emirate come together to facilitate the provision of bone marrow transplantation services with close coordination with all parties. Dr. Yendry Ventura, CEO of ABU DHABI Stem Cells Centre, added, “It’s a great honour to be selected as a Centre of Excellence in bone marrow transplantation. Having been tasked with turning the vision of our wise leadership in bone marrow transplantation and cellular therapy into a reality, we will take this responsibility to ensure sustainable financial models and accessibility for all patients. “ABU DHABI Bone Marrow Transplant Programme provides a comprehensive and integrated ecosystem designed to implement innovative solutions, advanced research, and cell therapy, while leveraging educational platforms for healthcare professionals and scientists.” Dr. Fatima Alkaabi, Executive Director of the Bone Marrow Transplant Programme at ADSCC, emphasised the ground-breaking aspect of the programme as the first of its kind to conduct a bone marrow transplant successfully in the UAE in July 2020, and the first centre in the Middle East to offer marrow transplantation for patients with multiple sclerosis in November 2022. ABU DHABI Bone Marrow Transplant Programme provides treatment to all patients through the ABU DHABI Stem Cells Centre as well as Yas Clinic Khalifa City. Through comprehensive clinical care, starting from the initial consultation to assess the patient’s eligibility for treatment, conducting pre-transplant examinations, to assessing and searching for donors by offering access to international records of bone marrow banks and all cell collections by a specialised team. Stem cells are processed, characterised, and stored for clinical application under the supervision of adept scientists and laboratory technicians. ABU DHABI Bone Marrow Transplant Programme provides treatment for a range of benign and malignant blood disorders and autoimmune diseases such as multiple sclerosis with a comprehensive approach to autologous or non-autologous stem cell transplantation or advanced cellular therapies for both adults and children. Department of Health ABU DHABI outlines six key indicators that are taken into consideration when evaluating whether the healthcare facility can be recognised as a Centre of Excellence. Among them are clinical outcomes, patient experience, patient safety and quality of medical services, levels of employee competency and the facilities’ medical education and research strategies. Department of Health ABU DHABI also assesses the accreditations to determine the healthcare facility’s eligibility.

Source: Emirates News Agency

Hamdan bin Mohammed launches ‘Create Apps in Dubai’ initiative

DUBAI, 29th March, 2023 (WAM) — H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, today launched “Create Apps in Dubai”, an initiative of the Higher Committee of Future Technology Development and Digital Economy, aimed at fostering an innovation-driven ecosystem for digital applications in the emirate and turning Dubai into one of the world’s most attractive destinations for business opportunities by 2025. Sheikh Hamdan bin Mohammed said the launch of “Create Apps in Dubai” forms part of implementing the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to develop initiatives that can transform Dubai into a leader in the global digital sector and create a new future shaped by advanced technologies and sciences. Since launching Dubai Internet City, the emirate’s strategic investments in the digital sector have seen it becoming an important player in the global technological landscape, he said. Sheikh Hamdan stated, “The digital transformation sweeping the world and the exponential growth of cutting-edge digital applications and platforms have created a new global competition for technological leadership. Dubai seeks to be at the forefront of this global race by providing a platform for fostering the development of 1,000 highly-skilled UAE nationals whose ideas and innovation will create a vibrant applications sector in Dubai.” The “Create Apps in Dubai” initiative overseen by the Dubai Chamber for Digital Economy with the support of government entities and technology companies, seeks to train a select group of 1,000 UAE nationals in partnership with the private sector in Dubai. The initiative will identify priority areas and support development plans aimed at empowering and enabling these UAE nationals to play key roles in realising the country’s digital vision. Furthermore, the initiative seeks to triple the number of app creators by 2025 and support 100 new national projects for developing cutting-edge apps that will be made available in digital app stores over the next 24 months. H.H. Sheikh Hamdan met with developers of apps targeted at the global market in the fields of healthcare, education, entrepreneurship and others, as part of engagements aimed at promoting exchange of ideas among experts, innovators and developers. By encouraging greater sharing of digital and technological expertise, Dubai seeks to enhance its position as a global launchpad for future-oriented technologies. Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, and Chairman of the Dubai Chamber of Digital Economy; Helal Saeed Al Marri, Director-General of Dubai’s Department of Economy and Tourism; Hamad Obaid Al Mansoori, Director-General of the Dubai Digital Authority; Khalfan Belhoul, CEO of the Dubai Future Foundation; Ahmed bin Byat, Vice Chairman of the Dubai Chamber of Digital Economy; Malek Al Malek, Director-General of the Dubai Development Authority and Chairman of TECOM Group; Arif Amiri, CEO of DIFC; and Saeed Al Gergawi, Vice President of the Dubai Chamber of Digital Economy, attended the launch of the “Create Apps in Dubai” initiative. With global smartphone sales revenues crossing US$448 billion and two million new applications and games created in 2021, growth and innovation in the sector has been steadily gathering momentum. Users spent more than US$160 billion on applications while the number of downloads of applications hit 230 billion in 2021, creating vast new opportunities for investors, entrepreneurs and technology professionals. The number of financial and business applications downloaded in the Middle East and Africa region exceeded 157 million in 2021, an increase of 182 percent since 2018, while user spending in the top 25 electronic apps increased by 6.5 times compared to 2018. Dubai seeks to leverage new growth opportunities in the sector by creating a strong digital infrastructure, developing a legislative framework that supports the development of apps, and introducing government incentives to accelerate the sector’s economic growth.

Source: Emirates News Agency

Saif bin Zayed attends Majlis Mohamed bin Zayed lecture exploring technology and future trends

ABU DHABI, 29th March, 2023 (WAM) — H.H. Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, attended a lecture organised by Majlis Mohamed bin Zayed, titled “Technology and Future Trends: How to Think like a Futurist”, at the Sheikh Zayed Grand Mosque in ABU DHABI. The lecture was also attended by H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation; H.H. Sheikh Zayed bin Mohamed bin Zayed Al Nahyan; Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence; and a number of sheikhs and officials. The first lecture in this year’s Ramadan series was presented by Amy Webb, a quantitative futurist, professor, best-selling author, and founder and CEO of the Future Today Institute. Her lecture explored the importance of imagining future scenarios and foreseeing upcoming revolutionary technologies that could potentially change the world today. Webb introduced the concept of “worldbuilding”, which she described as “the creative act of imagining, designing and implementing a world that evolves or diverges from today”. Worldbuilding, she said, is foundational to storytelling but is also a vital part of strategic foresight and long-term planning in government and in business. These concepts, she added, were not new to the UAE, describing the founding fathers as “some of the smartest visionaries and the best strategic planners that have ever lived.” She discussed how they imagined a future with a unified society, inclusive culture and a long-term vision for social and economic development. In imaging the future, she encouraged the audience to place themselves and their community at the centre, and for them to contemplate multiple potential futures, conscious that the future is the result of the decisions we make and the conversations we have in the present. The lecture went on to explore how emerging technologies such as generative AI and bioengineering could affect society. Webb advised that effective worldbuilding and exploring uncertainty through different scenarios “helps to remove the guesswork,” suggesting that as a centre of innovation, the UAE could drive global thinking in many of these areas. In addition to the keynote address by Amy Webb, the lecture featured pre-recorded contributions from Hasan Al Hosani, CEO of Bayanat; Dr. Ebtesam Almazrouei, Director of AI Cross-Centre Unit; and Tannya Jajal, technology evangelist and AI author; and was introduced by Talal Al Kaissi, CEO of G42 Cloud. The lecture will be broadcast on Thursday 30th March, beginning 60 minutes before Iftar, on local TV networks and on the Majlis Mohamed bin Zayed YouTube channel (youtube.com/@MajlisMohamedbinZayed).

Source: Emirates News Agency

DLD’s Cube Centre showcases advantages of e-property residence visa system

DUBAI, 29th March, 2023 (WAM) — During a presentation at the Dubai Land Department Cube, a centre dedicated to providing exceptional services to real estate investors, the e-property residence visa system was highlighted as a key factor in enhancing the investor experience. The system offers an efficient e-platform for submitting applications for real estate residence, providing investors with flexibility, ease, and high-quality services. Sultan Butti bin Mejren, Director-General of DLD, along with several other officials from the department, were present at the event. The development of the e-property residence visa system is a testament to DLD’s commitment to enhancing its partnership with the private sector, which is a vital driver and active contributor to the real estate sector. This initiative aligns with the directives of the wise leadership led by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, as stated in the Dubai Economic Agenda D33. The agenda aims to provide a globally competitive environment that fosters private sector investments. Sultan Butti bin Mejren said, “Positioning Dubai as a global leader in real estate investments is a top strategic priority that necessitates a strong partnership with the private sector and seamless government integration. This requires upgrading our comprehensive real estate system through effective partnerships and innovative digital infrastructure. Such efforts reflect our commitment to enhancing our customers’ and investors’ happiness and satisfaction. We are steadfast in following the wise leadership’s path, which places great importance on the private sector’s active and indispensable role in the sustainable development process.” The e-property residence visa system offers a convenient service for investors to apply for real estate residence via the electronic platform

Source: Emirates News Agency