Latest news with #Al-Rasheed
Leaders
23-05-2025
- Entertainment
- Leaders
MDLBEAST Offers Legendary Night with Guns N' Roses Concert
MDLBEAST promises guests with a legendary night at Saudi Arabia with today's unmissable concert featuring Guns N' Roses, the iconic American rock band formed in Los Angeles in 1985. The concert is part of the band's 2025 global tour, which involves stops in the Middle East, according to Arab News. Rayan Al-Rasheed, director of operations and artist booking at MDLBEAST, said that Saudi Arabia had become a promising destination for global music acts. 'By hosting legendary artists like Guns N' Roses, we aim to elevate the Kingdom's presence in the global music scene,' Al-Rasheed added. He also noted that bringing rock music to the Saudi music landscape serves as an acknowledgment of a musical genre that has long had a strong presence in the Kingdom. 'The popularity of bands like Metallica and Linkin Park shows that rock has deep roots here,' Al-Rasheed said. Therefore, the concert is set to be one of the biggest events they have powered to date. Al-Rasheed also indicated that music plays a pivotal role in boosting community and cultural exchange. 'It brings people together from diverse backgrounds, creating collective experiences that transcend language and borders,' Al-Rasheed said. Related Topics: Akon, Lil Baby to Lead MDLBEAST at Formula E Prix Jeddah 2025 Kokub by MDLBeast: A Cosmic Sonic Adventure in the Heart of AlUla Catch These Highlights from MDLBeast Soundstorm 2024 Short link : Post Views: 1 Related Stories
Shafaq News
03-05-2025
- Business
- Shafaq News
Your deposits are safe: Iraq clarifies bank withdrawals
Shafaq News/ Iraq's Finance Ministry dismissed allegations that recent withdrawals from state-owned banks involved citizen deposits, stressing that the transactions used sovereign funds and were carried out in line with federal budgetary procedures. The ministry clarified in a statement that the funds withdrawn from Al-Rafidain and Al-Rasheed banks were held temporarily for 'operational purposes' and reallocated according to administrative and financial instructions tied to the national budget. The statement followed accusations by several lawmakers, local media outlets, and social media figures alleging that the government had accessed trillions of dinars from public deposits to address fiscal pressures. Some critics drew parallels to foreign banking collapses, prompting concerns over Iraq's financial stability. 'These funds are not linked to individual accounts or depositors' savings,' the ministry stated, rejecting the comparisons as 'inaccurate and misleading.' It emphasized that Iraq's banking sector operates under a distinct legal framework and is regulated by the Central Bank, which enforces strict compliance and governance measures. Officials reported that Al-Rafidain and Al-Rasheed remain financially stable, continuing to disburse salaries, finance public projects, and fulfill obligations to clients. Al-Rafidain Bank holds approximately 9 trillion Iraqi dinars ($6.9B) in legal reserves with the Central Bank. A document dated April 24 confirmed Al-Rafidain held 4.277 trillion dinars ($3.3B) in unused reserves and 4.263 trillion ($3.25B) in used reserves—totaling over 8.54 trillion dinars ($6.52B)—all of which remain intact, according to the ministry. Addressing earlier embezzlement incidents, the ministry attributed those cases to prolonged dormancy in escrow accounts, which had been exploited by corrupt networks, noting that new oversight procedures had been introduced in coordination with state banks to strengthen controls and mitigate risks. The ministry warned that continued dissemination of false claims could damage public confidence and distort perceptions of recent economic progress, highlighting that Iraq's fiscal reforms and improved transparency had received praise from international institutions, contributing to better credit ratings and increased investor engagement. Reaffirming its economic policy direction, the ministry called on media professionals and social media users to verify claims and act responsibly. 'All official data remains accessible for professional and public review through the ministry and banking channels.'
