Qatar-Saudi Trade Mission 2025 begins
The two-day networking and B2B event organised by Qatar Development Bank in line with promoting Qatar Exports, is to promote economic collaboration between Qatar and the Kingdom of Saudi Arabia.
This mission comes as a continuation of the bilateral cooperation that reflects the two countries' vision to increase economic cooperation and expand the horizons of partnership between Qatari and Saudi business institutions.
"The mission aims to enhance trade relations between the two countries and open up prospects for partnerships in various sectors," said Faisal Al-Amadi, Director of Bilateral Reconciliation and External Offices at the Bank.
During the event, Abdulrahman Hisham Al Suwaidi, CEO of Qatar Development Bank, announced the opening of Qatar Exports Office in the Saudi capital Riyadh in the first quarter of 2025.
© Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
UAE Moments
an hour ago
- UAE Moments
Qatar Airways to Resume Flights to Aleppo
Qatar Airways has announced the resumption of three weekly flights connecting Doha and Aleppo starting August 10, with services to increase to four times weekly from September 1. The weekday schedule will include departures from Doha on Mondays, Wednesdays, and Sundays aboard Flight QR414 (08:30–11:40), with the return Flight QR415 from Aleppo departing at 13:55 and arriving in Doha at 17:00. This reinstates Qatar Airways' presence in Aleppo—a destination it has served since 2011—following the successful resumption of flights to Damascus earlier in 2025 . Aleppo now becomes the airline's second Syrian destination, underscoring a strategic expansion to bolster regional connectivity and post-conflict restoration. Reopening this route is a pivotal development for both the aviation industry and Syria's ongoing recovery. Enhanced air access facilitates business travel, humanitarian missions, and family reunions through Hamad International Airport in Doha, a globally renowned hub. For travelers and diaspora families, these flights offer crucial access to Aleppo, a city of deep cultural significance and resilience in Syria. With Qatar Airways affirming its commitment to safety and seamless operations, bookings are now open via the airline's app and website, paving the way for renewed personal and commercial travel. This article was previously published on qatarmoments. To see the original article, click here
Zawya
2 hours ago
- Zawya
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Al Baraka Islamic Bank BSC Bahrain Sign Documentary Credit Insurance Policy to Boost Shariah-Compliant Trade
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) ( a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, and Al Baraka Islamic Bank BSC Bahrain signed a Documentary Credit Insurance Policy (DCIP). The policy aims to strengthen support for Shariah-compliant trade finance, enabling greater security and confidence in the international trade ecosystem. The agreement was signed by Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, and Dr. Adel Salem, Chief Executive Officer of Al Baraka Islamic Bank BSC Bahrain, in a joint effort to enhance the capacity of Islamic financial institutions to manage trade-related risks more effectively. Under this partnership, ICIEC will provide insurance coverage for the confirmation of Letters of Credit (LCs) issued by Al Baraka Islamic Bank in connection with the import and export of eligible Shariah-compliant goods and services. This solution will help mitigate payment risks associated with cross-border trade while promoting sustainable growth in ICIEC's member states. Dr. Khalid Khalafalla, CEO of ICIEC, stated: ' This strategic collaboration with Al Baraka Islamic Bank reflects ICIEC's unwavering commitment to advancing intra-OIC trade and investment. By supporting Shariah-compliant trade finance through our Documentary Credit Insurance Policy, we are facilitating secure trade flows while empowering Islamic banks to broaden their offerings to clients. This partnership demonstrates the power of multilateral cooperation in achieving shared development goals.' For his part, Dr. Adel Salem, CEO of Al Baraka Islamic Bank BSC Bahrain, stated: ' We are delighted to partner with ICIEC on this pioneering Credit Insurance Policy, which empowers us to extend Shariah‑compliant trade finance to our clients, bolster Bahrain's role as a regional hub for Islamic banking, and stimulate sustainable economic growth across member states worldwide. This collaboration underscores our unwavering commitment to innovation and robust risk management, giving the businesses we serve greater confidence to expand in global markets.' The DCIP serves as a vital tool for Islamic banks, enhancing their ability to expand trade finance operations with reduced exposure to commercial and political risks. The policy also complements ICIEC's broader mandate to promote economic resilience, financial inclusion, and private sector development in member countries. Both institutions reaffirmed their shared dedication to expanding the reach of Islamic finance, strengthening risk mitigation tools, and contributing to inclusive and sustainable economic development. Distributed by APO Group on behalf of Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). Media Contacts: ICIEC Email: ICIEC-Communication@ Al Baraka Islamic Bank BSC Email: marketing@ Follow ICIEC on: X: Facebook: LinkedIn: YouTube: Instagram: About The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC): As a member of 'AAA' rated Islamic Development Bank (IsDB), ICIEC commenced operations in 1994 to strengthen economic relations between OIC Member States and promote intra-OIC trade and investments by providing risk mitigation tools and financial solutions. The Corporation is the only Islamic multilateral insurer in the world. It has led from the front in delivering a comprehensive suite of solutions to companies and parties in its 50 Member States. ICIEC, for the 17 th consecutive year, maintained an "Aa3" insurance financial strength credit rating from Moody's, ranking the Corporation among the top of the Credit and Political Risk Insurance (CPRI) Industry. Additionally, S&P has reaffirmed ICIEC 'AA-' long-term Issuer Credit and Financial Strength Rating for the second year with Stable Outlook. ICIEC's resilience is underpinned by its sound underwriting, global reinsurance network, and strong risk management policies. Cumulatively, ICIEC has insured more than USD 121 billion in trade and investment. ICIEC activities are directed to several sectors - energy, manufacturing, infrastructure, healthcare, and agriculture. Website: About Al Baraka Islamic Bank BSC: Al Baraka Islamic Bank (AIB) is one of leading financial institutions in the Islamic banking sector within Bahrain. Throughout its history of more than four decades (since its establishment in 1984), the Bank has played a prominent role in building the infrastructure of the Islamic finance industry. The Bank also played a significant role in promoting the Islamic finance industry and publicizing its merits. AIB offers innovative financial products, including investments, international trading, management of short-term liquidity and consumer financing, all of which are all based on Islamic financing modes. Such financing includes Murabaha, Wakala, Istisna, Musharaka, Mudarabah, Salam, and Ijara Muntahia Bittamleek.
Zawya
4 hours ago
- Zawya
In Burkina Faso, cashew cultivation is a lever for sustainable and inclusive rural development
Launched in 2017 and completed in 2024, the Cashew Development Support Project in the Comoé Basin for REDD+ (PADA/REDD+) exemplified sustainable development. The project combined poverty reduction, ecological transition and the empowerment of women and young people, achieving a remarkable implementation rate of 95 percent. It has revitalised the cashew nut industry, Burkina Faso's third largest agricultural export after cotton and sesame. The PADA/REDD+ project received support from the African Development Bank, which granted a loan of $4 million, and the African Development Fund, the Bank Group's concessional funding window, with a grant of $1.39 million, representing 61 percent of the total project cost of $8.82 million. The government of Burkina Faso and the beneficiaries provided the remaining funding. The project mobilised the necessary resources to contribute to the sustainable transformation of the Cascades, Hauts Bassins and South-West regions, with significant participation from women. It enabled producers to reduce maintenance costs, improve soil fertility and structure, and increase cashew productivity and incomes in a sustainable manner. Climate action combined with agricultural production The first component of the PADA/REDD+ focused on carbon sequestration. This resulted in the creation of seven tree parks, the production of more than 1.6 million improved seedlings and the development of approximately 27,000 hectares of agroforestry plantations. One-third of these plantations are maintained by women, underlining the project's commitment to promoting social inclusion. A total of 35,340 producers, including 6,047 women, were trained in good agricultural and organic practices. This capacity-building approach for producers and processors equipped each stakeholder with the skills required to meet their needs and expectations, particularly in mastering technical production and processing methods. Adama Patrick Sombié, a cashew nut processor in Bérégadougou, confirms his satisfaction: "Before the project, there were no cashew tree parks in the village, only forest and a few orchards. When the project offered plots to promoters, I signed up and received two hectares." Access to finance and modernization of processing The second component of the project focused on strengthening value chains. Long hampered by limited access to finance, the sector's development has benefited from an innovative partnership with the umbrella organisation of Burkina Faso's Caisses populaires banks, alongside savings and loan cooperatives. This mechanism enabled investment loans to be granted based on a sliding scale of interest rates, financing 103 microprojects for a total of 888 million CFA francs, or approximately $500,000. The project also created 9,580 additional "green" jobs, 92.66 percent of which were for women, by financing micro-investment projects. Thanks to the funding provided, seven processing units were modernised. A new unit called "Tensya" was established in the commune of Toussiana, and three warehouses were built, one of which is reserved for women. The project also enabled the purchase of 12 trucks and 45 tricycles, training in good practices for 631 people, strengthening the environmental skills of 477 stakeholders, and the construction and equipping of infrastructure such as a cooking and shelling centre for women in Diéri, entirely subsidised by the African Development Bank. An inclusive and sustainable impact These microprojects reached nearly 18,000 people, 61 percent of whom were women, further strengthening the inclusive approach of PADA/REDD+. "This project is a blessing for us. Thanks to the income generated, we can send our children to school and keep them healthy. Before, we used to sell our products at rock-bottom prices, but now, with our own processing units, we control the entire value chain," says Aramatou Barro, a processor in Diéri. Christiane Koné, a processor in Toussiana, confirms this postive impact: "Thanks to the project, we have been able to purchase six automatic shelling machines, which are twice as fast as our 25 manual shelling tables." At the same time, the project structured supply networks, ensured that 96 cooperatives complied with OHADA (Organization for the Harmonization of Business Law in Africa) standards and implemented an environmental management plan. Working conditions have improved significantly. Isso Kindo, a trader in Bobo-Dioulasso, says: "Transport was our main obstacle. Today, thanks to the truck financed by the project, I can transport up to 60 tonnes of nuts from the towns of Banfora and Mangodara." The impact of PADA/REDD+ can also be measured in terms of job creation for young people and rural entrepreneurs. In Orodara, Arzouma Zougouri, a producer and business owner, explains that "the project's support has enabled me to better equip my processing unit. I've gone from 200 to 300 employees," he says proudly. By structuring the cashew nut sector sustainably, increasing productivity and strengthening local processing, PADA/REDD+ achieved its objectives whilst laying the foundations for more resilient rural development. Its contribution to carbon sequestration through agroforestry plantations strengthens its environmental impact. Perennial plantations, modernised agricultural practices, a strengthened local processing network and better access to finance were the pillars of this success. Distributed by APO Group on behalf of African Development Bank Group (AfDB).
