The Islamic Corporation for the Development of the Private Sector (ICD) signed an agreement to assist Kapitalbank, a private commercial bank in Uzbekistan, with technical advisory services for the establishment of a new Islamic banking window.
The agreement was signed during ICD’s official visit to Uzbekistan as part of its mandate to explore development opportunities in the member countries and strengthen ICD’s advisory footprint in central Asia, especially in Uzbekistan.
ICD will assist Kapitalbank in areas of Shariah, accounting, information technology, marketing and communication, HR and legal aspects combined with an on-site extensive theoretical training and supported by on-job training in Islamic banks.
Ayman Sejiny, CEO of ICD, said: “We are happy to sign the agreement to support Kapitalbank and share our expertise through the Islamic Financial Institution Program, developed for and with our partners to advise and assist in developing and reinforcing the Islamic finance industry in the member countries.”
Oleg Kim, acting chairman of the management board, representing Kapitalbank, said: “We believe that the launching of the Islamic window in the bank will allow mobilizing funds of the population who, because of their religious beliefs, did not use traditional banking services. In addition, legal entities will receive access to Shariah-compliant funding. So through Islamic banking, financial inclusion can be promoted and bring a larger pool of savings in the local and global economy.”
ICD to develop Islamic finance in Uzbekistan
ICD to develop Islamic finance in Uzbekistan
Schneider Electric launches academy in Saudi Arabia to build future-ready talent
Schneider Electric has announced the launch of the Energy Tech Academy Middle East and Africa in Saudi Arabia, a regional capability platform dedicated to skilling, upskilling, and knowledge sharing.
The launch comes at a critical moment as the Kingdom accelerates energy transition, industrial localization, and human capability development under Vision 2030. The academy reinforces the Kingdom’s leadership role in building future-ready talent while supporting industrial and energy transformation across the wider Middle East and Africa region.
The Energy Tech Academy Middle East and Africa is not a traditional training center; it is a regional platform translating Schneider Electric’s global energy technology expertise into applied capability for Saudi Arabia and the broader region. Anchored in Riyadh, the academy is designed to serve as a benchmark for skills development and enablement across the MEA.
The launch reflects Schneider Electric’s long-term commitment to investing in people and capabilities, and to supporting national priorities across energy, industry, and digital infrastructure.
Mohamed Shaheen, cluster president of Schneider Electric Saudi Arabia and Yemen, said: “This launch reflects our long-term commitment to Saudi Arabia and to building capability that lasts. After more than 40 years in the Kingdom, we continue to invest where impact matters most: in people. Launching the Energy Tech Academy Middle East and Africa from Riyadh underscores our belief that sustainable transformation is built on local capability and trusted partnerships.”
The academy directly supports Saudi Arabia’s focus on human capability development, localization, and Saudi-made outcomes by enabling the skills behind advanced energy systems, industrial automation, and digital infrastructure. Capabilities developed through the academy will support Saudi manufacturing, national projects, and resilient supply chains, while also strengthening regional industrial ecosystems.
“The Energy Tech Academy Middle East and Africa is designed to enable real outcomes,” said Walid Sheta, zone president for the MEA at Schneider Electric. “By equipping talent with future-ready skills across electrification, automation, and digital intelligence, we are strengthening Saudi and regional capability to design, operate, and lead the energy and industrial systems of the future.”
The launch event in Riyadh brought together senior government representatives, industry partners, customers, and Schneider Electric’s leadership, highlighting the importance of cross-sector collaboration in aligning education, skills development, and labor market needs.
Designed as a long-term platform, the Energy Tech Academy Middle East and Africa will continue to evolve through partnerships, programs, and continuous capability development, reinforcing Saudi Arabia’s role as a regional hub for skills, knowledge, and industrial enablement.
