Saudi Arabia launches initiative to license volunteer work
Saudi Gazette report
RIYADH — Saudi Arabia has launched a volunteer work license initiative aimed at qualifying volunteers and enhancing their skills, which will enable them to perform their duties within an organized and safe framework.
This step is part of the fundamental pillars of organizing and empowering volunteer work, particularly in serving pilgrims.
The Minister of Human Resources and Social Development, Eng. Ahmed Al-Rajhi, launched the Non-Profit Work Observatory Foundation to serve pilgrims. The Observatory monitors the actual situation of the sector and systematically collects and analyzes data, contributing to the preparation of qualitative studies that address the challenges and obstacles facing non-profit organizations.
This came at the opening of the third edition of the International Non-Profit Sector Exhibition 2025 (IENA), which includes a social investment forum and a Gulf forum to strengthen the relationship between the non-profit sector and the public and private sectors.
The exhibition is a pioneering platform of its kind, bringing together non-profit organizations, the public and private sectors, and international institutions to support cooperation, exchange expertise, and develop solutions and innovations in this field.
It also highlights the importance of the non-profit sector as an effective strategic pillar in achieving sustainable development and social goals, empowering human capabilities, increasing the number of non-profit organizations in various development fields, and raising the sector's contribution to the gross domestic product by 5% by 2030.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arab News
6 hours ago
- Arab News
Closing Bell: Saudi main index closes in green before Eid holidays
RIYADH: Saudi Arabia's Tadawul All Share Index climbed on Wednesday, gaining 172.1 points, or 1.59 percent, to close at 11,004.53. The total trading turnover on the benchmark index was SR4.61 billion ($1.23 billion), with 191 listed stocks advancing and 50 declining. The Kingdom's parallel market Nomu surged by 257.9 points to close at 27,307.74. Meanwhile, the MSCI Tadawul Index edged up by 1.67 percent to 1,406.49. The best-performing stock on the main market was Saudi Industrial Investment Group, with its share price surging 7.03 percent to SR17.36. The share price of ACWA Power Co. also rose by 6.72 percent to SR269.80. Al-Babtain Power and Telecommunication Co. saw its stock price increase by 5.40 percent to SR5.40. Conversely, the share price of Saudi Steel Pipe Co. fell by 6.33 percent to SR56.20. Saudi Research and Media Group also saw a dip, with its share price easing 2.26 percent to SR127. On the announcements front, Saudi National Bank completed its offer of Saudi riyal-denominated Additional Tier 1 sukuk, with the settlement finalized on June 3. According to a statement on the Saudi Exchange dated May 11, the issuance was conducted through a private offer to eligible investors in the Kingdom. The total value of the sukuk offering amounted to SR1.73 billion. The bank issued 1,730 sukuk, each with a par value of SR1 million. The sukuk will offer an annual return of 6 percent from the issue date until June 3, 2030. The share price of Saudi National Bank increased by 0.88 percent to close at SR34.45. The announcement coincided with the implementation of the unified regulation for cross-border registration of investment funds among Gulf Cooperation Council countries, which came into effect in 2025, according to the Capital Market Authority. The regulation outlines requirements for registering and marketing investment funds across GCC countries and introduces a dedicated regulatory guide. It aims to clarify procedures for handling both local and Gulf-based funds, enhance financial market services, and reduce regulatory challenges. Additionally, the framework seeks to support mechanisms that attract international investments to the Saudi financial market and boost foreign ownership in investment funds. The broader goal is to improve liquidity in regional financial markets, enhance the competitiveness of GCC economies, and foster integration by unifying the policies and systems governing domestic, regional, and foreign investment activities. The regulation also aims to ensure a transparent and stable investment environment. Under the framework, the legislative committee in each host country will have the authority to set standards for approving fund registrations and supervising funds within its jurisdiction, including overseeing the appointed agent and their interactions with investors. Cross-border registration must be conducted through the capital market authorities of both the fund's country of origin and the host country. The regulation allows investment funds established in any GCC member state to be promoted in other countries applying the framework. It also outlines the process for offering Saudi funds in Gulf markets, with a focus on aligning with regulatory review mechanisms and cross-border registration requirements to ensure full compliance with approved guidelines.
Saudi Gazette
7 hours ago
- Saudi Gazette
SFDA elected to Management Committee of MedDRA, the 6th global regulatory body
Saudi Gazette report RIYADH — In a move that highlights Saudi Arabia's growing prominence in global pharmaceutical governance, the Saudi Food and Drug Authority (SFDA) has been officially elected to the Management Committee of the Medical Dictionary for Regulatory Activities (MedDRA). The authority has thus become the sixth regulatory authority worldwide to join this prestigious global medical body. This election marks a pivotal milestone for both Saudi Arabia and the international scientific community, reflecting global confidence in the SFDA's regulatory excellence and the Kingdom's strategic role in advancing international harmonization in drug safety and medical product oversight. MedDRA, developed by the International Council for Harmonization of Technical Requirements for Pharmaceuticals for Human Use (ICH), is a globally recognized standard for coding and analyzing safety data across the lifecycle of pharmaceutical and biopharmaceutical products. It plays a central role in regulatory communication, post-market surveillance, clinical trial reporting, and signal detection. SFDA's election to the MedDRA Steering committee was confirmed during the ICH Management Committee meeting held in Madrid, Spain, from May 11–12, 2025. With this appointment, SFDA joins a group of regulators, including the European Commission, U.S. FDA, UK MHRA, Health Canada, Japan's MHLW and PMDA, alongside the World Health Organization (WHO), which participates as an observer. This strategic appointment reaffirms SFDA's active leadership within ICH working groups, particularly in the areas of medical terminology and pharmacovigilance. Among its most impactful contributions is the linguistic and technical leadership demonstrated in the translation and validation of over 20,000 MedDRA terms into Arabic—a landmark initiative completed between May and October 2022. This achievement significantly facilitates the implementation of MedDRA across Arabic-speaking regions and enhances inclusive pharmacovigilance throughout the MENA region. For CEOs, scientific leaders, and policymakers, this development signals new opportunities to align regulatory frameworks, accelerate clinical development across the region, and enhance data interoperability. SFDA's presence on the MedDRA Steering Committee is not merely symbolic—it serves as a strategic platform for integrating global safety data, advancing regulatory innovation, and sharing best practices. As Saudi Arabia continues to lead in biopharma localization, digital health, and AI-driven pharmacovigilance, SFDA's role in shaping the evolution of MedDRA is set to reinforce the Kingdom's position at the forefront of global health regulation.
Asharq Al-Awsat
9 hours ago
- Asharq Al-Awsat
Non-oil Private Sector Growth Boosts Saudi Arabia's Economic Expansion
Saudi Arabia's non-oil private sector continued to witness steady improvements in operating conditions during May, mainly driven by an expansion in new business and a recovery in customer demand. This strong performance underscores the resilience of Saudi Arabia's non-oil economy and its capacity to achieve sustainable growth. The Riyad Bank Purchasing Managers' Index (PMI) rose in May, reaching 55.8 points, indicating a strong improvement in business conditions, though still below the peak recorded earlier this year. These positive figures reflect growing confidence in the sector's future, with output expectations reaching an 18-month high, signaling operational readiness for continued growth in the second half of the year. Key findings of the PMI show a notable acceleration in new order growth during May, following a slowdown in April. Companies attributed this increase to stronger demand, robust sales performance, and new marketing initiatives. New orders from abroad also grew, although at the slowest pace in the past seven months. This positive momentum was mirrored in employment levels, as companies increased their workforce to meet rising production requirements, marking one of the fastest hiring rates in over a decade. The workforce growth was accompanied by a surge in purchasing activity, which saw its fastest rise since March 2024, reflecting improved supply chain flexibility. The Kingdom's non-oil private sector is showing strong confidence in the future, with business expectations reaching their highest level since late 2023. Business activity rose in May, driven by increased customer demand and production needs, although the overall rate of growth was the slowest since last September. The construction sector played a key role in this growth, recording the strongest increases in both activity and new business. Despite this strong performance, non-oil firms faced a sharp rise in input costs during May. However, inflation slowed compared to April due to reduced wage pressures. Conversely, selling prices declined in May, driven by a sharp drop in service sector prices, with companies citing competitive pressures impacting their pricing power. Commenting on these results, Dr. Naif Al-Ghaith, Chief Economist at Riyad Bank, affirmed that Saudi Arabia's non-oil economy maintained its strong momentum in May. He noted that improving demand, robust economic activity, the launch of new projects, and increased labor productivity all contributed to continued growth, despite the pace slowing to its lowest level since September 2024.
