Alinma Enayah Endowment Fund launched in Riyadh

The launch ceremony was attended by Riyadh Gov. Prince Faisal bin Bandar and Abdulmohsen Al-Fares, CEO of Al-Alinma Bank.
Updated 26 May 2019
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Alinma Enayah Endowment Fund launched in Riyadh

Riyadh Gov. Prince Faisal bin Bandar launched the Alinma Enayah Endowment Fund at the Charitable Health Society For Patient Care (Enayah) headquarters in Riyadh.
The fund is a public open-end endowment fund, endowed for the benefit of charitable health society Enayah.
Abdulmohsen Al-Fares, CEO of Al-Alinma Bank, said: “We enjoy royal encouragement for all our initiatives that aim at developing investment tools and enhancing the role of civil society organizations in serving the community. The patronage of his highness the governor of Riyadh is a form of continuous support for one of our pilot projects serving the community in the Kingdom.”
Al-Fares thanked Enayah’s chairman, members of the board of directors and the organization’s staff comprising volunteer doctors for their outstanding efforts in the treatment of patients and the needy.
“The fund aims to enhance the developmental role of private endowments by participating in supporting health care, and increasing and investing the fund assets in order to achieve social solidarity and benefit both the endowment disbursement channels and the endowed asset,” said Mazen Fawaz Baghdadi, acting CEO of Alinma Investment Company. The fund manager will work to invest the fund assets, which include cash, real estates, securities, and more, with a view to achieve capital return and distribute a specified return rate annually and continuously on the fund specified disbursement channels of health and medical services through Enayah, where the charity is committed to spend the fund returns on a number of health and medical fields.
Alinma Investment Company is the investment arm of Alinma Bank, a company licensed by the Capital Market Authority. (No. 37-09134) offering a range of investment products and services.


Ras Al-Khaimah to host Mideast’s first ‘business Oscars’

Updated 16 September 2019
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Ras Al-Khaimah to host Mideast’s first ‘business Oscars’

The Stevie Awards, known widely as the “business Oscars,” has reached an agreement for a strategic partnership with Ras Al-Khaimah Chamber of Commerce and Industry (RAK Chamber) for the first annual Middle East Stevie Awards to be held in Ras Al-Khaimah in February 2020.
The Middle East Stevie Awards will recognize innovation in the workplace from across 17 MENA countries and the awards program and gala prize-giving ceremony will be held in Ras Al-Khaimah for the first three years and at least every other year thereafter. The announcement was accompanied by a call from Stevie Awards for entries for the inaugural edition.
“Hosting the inaugural edition of the Middle East Stevie Awards here in Ras Al-Khaimah is a significant accomplishment, and another noteworthy milestone to add to the emirate’s successful track record, continuing on the same path of progress that has been taking place across all sectors, in line with the directives of our wise leadership,” said Mohamed Ali Al-Nuaimi, chairman of RAK Chamber.
“I was extremely gratified when the RAK Chamber approached us about partnering with them on a new Stevie Awards program for the Middle East and North Africa,” said Michael Gallagher, founder and executive chairman of the Stevie Awards. “We have recognized the achievements of executives, entrepreneurs, and organizations across the region for many years in our other programs. The time is right for the region to have its own Stevie’s program. We are excited to launch the Middle East Stevie Awards, and look forward to the first gathering of Stevie Award winners in the program in Ras Al-Khaimah in February.”