Saudi Arabian

IMF endorses Saudi plan for $500bn Neom zone

Dubai - Muslimchronicle

The International Monetary Fund (IMF) has endorsed an ambitious Saudi Arabian plan to build a $500 billion business and industrial zone extending into Jordan and Egypt, saying the project could benefit the whole region. Jihad Azour, head of the IMF’s Middle East department, said Riyadh would need to balance the huge cost of the zone and other economic projects withRead more

SAMA governor: Saudi government keen on combating money laundering

Riyadh - Muslimchronicle

Ahmed Abdulkarim Alkholifey, governor of the Saudi Arabian Monetary Agency (SAMA) and chairman of the Anti-Money Laundering Permanent Committee (AMLPC), welcomed the Cabinet’s approval of the new anti-money laundering law on Wednesday. “The new law meets the requirements of the current stage and aims to make anti-money laundering regulations, legislation and procedures more efficient,” he said. He stressed that theRead more

Central bank joins Islamic finance body

Riyadh - Muslimchronicle

Saudi Arabia’s central bank has joined an international standard-setting body for Islamic finance, a move that could help standardize industry practices and ease cross-border transactions in the Kingdom. The Bahrain-based Acc-ounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) said in a statement it had admitted the Saudi Arabian Monetary Agency (SAMA) as an institutional member. Islamic products represent aroundRead more

Oman committed to US dollar peg, new central bank chief says

Abu Dhabi - Muslimchronicle

The new executive president of Oman’s central bank said on Sunday that his country remained committed to the rial’s currency peg against the US dollar. Tahir Salim Al-Amri, a former director-general of treasury and accounts at the Ministry of Finance, was speaking to Reuters on the sidelines of a meeting of Arab central bank governors, in his first comments toRead more

Saudi Arabia ambassador to Sudan underlined the depth and strength of relations

Khartoum - Arab Today

The Saudi Arabian ambassador to the Sudan, Ali Bin Hassan Jaafar, has underlined the strength and depth of ties linking his country with the Sudan, expressing appreciation for the efforts exerted to facilitate the Hajj and Umra for the Muslims and the developments in the Hajj preparations within the Sudan. The ambassador met on Monday with the Director General forRead more

Asiri Denies Coalition Forces Impose Maritime Blockade on Yemeni Ports

Doha - Arab Today

Adviser to Saudi Arabian Defense Minister and Spokesman of the Arab Coalition Supporting Legitimacy in Yemen General Ahmed Asiri denied that the coalition forces imposed a maritime blockade on Yemeni ports, stressing that the forces are implementing a maritime ban to prevent the entry of weapons and explosives to the militias. In an interview with Qatari daily al-Sharq issued Tuesday,Read more

No short hair, university in Saudi Arabia tells female students

Riyadh - Arab today

A Saudi Arabian university has warned its female students of immediate dismissal for imitating men’s haircuts and outfits, a local media report said on Tuesday. According to the report in the Okaz daily, the Imam Mohammad Bin Saud Islamic University in Riyadh sent the warning messages on Monday, while the decision will be enforced starting next month The university stressed students whoRead more

Yemen operation is good test run for an Arab army

Dubai - Arab Today

It’s been more than a week since a Saudi Arabian-led coalition launched air strikes against Houthi rebel targets in Yemen. Operation Decisive Storm is made up of 10 Sunni states. The coalition has launched hundreds of sorties and destroyed multiple Houthi-related targets. It has targeted ballistic missiles that had been seized by the Shia militant movement, and air defence andRead more

Al-Shabal new head of Saudi Arabian Airlines

RIYADH - Arab Today

Saudi Arabia appointed a new chairman of Saudi Arabian Airlines (Saudia) by royal decree on Monday. Ghassan bin Abdulrahman Al-Shabal was appointed chairman of the board of directors of the state-owned airline, said Saudi Press Agency (SPA). Al-Shabal will replace Sulaiman Al-Hamdan, according to the airline's website. SPA said representatives of the finance, economy and civil service ministries and theRead more

Twitter flies into rage over Saudia appointment of Lebanese PR

JEDDAH - Arab Today

Saudi Arabian Airlines (Saudia) has denied that a Lebanese woman has landed a top job as director of public relations, in the wake of a Twitter storm over the rumored appointment. Saudia spokesman Mansour Al-Badr said that Christy Sarkis has been appointed as media and international communication consultant and not head of public relations (PR), as some social media usersRead more