Latest news with #AlRashdi
Times of Oman
29-04-2025
- Health
- Times of Oman
Endowment Institutions in Oman explores challenges, investment opportunities
Muscat — The first meeting of endowment institutions in Oman, organized by the Ministry of Endowments and Religious Affairs in Muscat today, addressed the challenges facing endowment institutions and compliance standards. The event was attended by Ahmed Saleh Al Rashdi, Undersecretary of the Ministry of Endowments and Religious Affairs. The Undersecretary stated that this inaugural meeting serves as a crucial platform bringing together all endowment institutions, both public and private. In a statement to Oman News Agency, he noted that the meeting, attended by 35 institutions, discussed challenges and solutions for endowment entities, along with implementation strategies. He highlighted the ministry's launch of the Endowment Institutions Readiness Assessment initiative, which evaluates institutions across governance, regulation, compliance, board formation, executive management, and investment. Each criterion carries a different weight in determining overall readiness. Al Rashdi emphasized that the average readiness of endowment institutions reflects their maturity, noting that Oman's endowment history spans over a thousand years and remains active today. He explained that modern endowment institutions operate professionally, with structured boards, executive management, educational committees, and risk, legal, and investment departments. While institutional management of endowments in Oman is relatively new, Al Rashdi acknowledged significant progress, attributing it to the vital role these institutions play in serving society—particularly in health and education. The ministry aims to strengthen public trust in endowment institutions, which now exceed 70 in number, including prominent entities. The ministry acts as a regulator, legislator, and overseer, having established governance frameworks for both public and private endowment institutions in collaboration with a governance firm. Additionally, it mandates external auditors for these entities. On his turn, Hilal Hamad Al Sarmi, Executive Director of the Athar Health Endowment Institution, stressed the importance of this first meeting in highlighting the role and achievements of endowment institutions. He told Oman News Agency that while these institutions are still nascent in Oman, governance-based operations require time to fully develop. Regular meetings, he added, would enhance awareness of their programs and facilitate experience-sharing among stakeholders. Al Sarmi pointed to financial constraints, the lack of core supporters, and difficulties in initiating endowment investments as key challenges. He called for collaborative investments between institutions and the ministry, particularly in financial digitization. Athar, he noted, focuses on healthcare improvements, partnering with medical institutions and seeking donors to fund essential equipment and medicines. Meanwhile, Eng. Mohammed Salim Al Busaidi, Board Member of the Bousher Endowment Institution, described the meeting as pivotal in uniting stakeholders. He told Oman News Agency that institutional endowments are still "new" in Oman, with governance charters, boards, and executive councils in place under the ministry's oversight. The meeting, he said, provided a forum to discuss challenges and exchange expertise. Al Busaidi highlighted the ministry's role in offering investment opportunities through endowment assets, noting over 39,000 endowment assets in Oman—many requiring investment. He urged the ministry to enable institutions to capitalize on these funds. For his part, Dr. Badr Khalfan Al Rashdi from Sumail Public Endowment Institution stated that the meeting aimed to address challenges faced by both public and private endowment entities while showcasing their experiences. He emphasized Oman's deep-rooted endowment heritage but stressed the need for institutionalized operations today, citing governance, revenue generation, investments, and partnerships as key hurdles. Emerging institutions, he added, face challenges in revenue streams, marketing, investment expertise, and workforce development. During the event, Dr. Mohammed Fakhri Suwailah from Bank Nizwa gave a visual presentation titled Accounting Standards for the Endowment Sector, covering financial accounting, auditing, and professional ethics. He outlined core accounting principles, including monetary unit, historical cost, revenue recognition, materiality, full disclosure, accrual basis, and consistency. Endowment assets, he noted, are classified as immediately usable or intangible. The meeting underscored the growing institutionalization of Oman's endowment sector while addressing financial, operational, and governance challenges to enhance its societal impact.
Arabian Business
20-03-2025
- Arabian Business
Abu Dhabi Police issue social media Ramadan scam warning
Abu Dhabi Police have issued a warning over fraudulent Ramadan social media competitions, which trick users into sharing personal banking details under the guise of claiming a prize. The police also warned against fake charity links on social media impersonating legitimate organisations. Major General Mohammed Suhail Al Rashidi, Director of the Criminal Security Sector of Abu Dhabi Police, explained that scammers convince victims they have won cash prizes, only to demand payments or personal information to process the reward. Abu Dhabi Ramadan scam warning He also stressed the importance of staying vigilant against online fraud and adhering to cybersecurity guidelines. Major General Al Rashdi urged those wishing to donate only through authorised organisations and legal channels. Suspicious activities can be reported via the Police via:
Gulf Insider
20-03-2025
- Gulf Insider
Abu Dhabi Police Issue Social Media Ramadan Scam Warning
Abu Dhabi Police have issued a warning over fraudulent Ramadan social media competitions, which trick users into sharing personal banking details under the guise of claiming a prize. The police also warned against fake charity links on social media impersonating legitimate organisations. Major General Mohammed Suhail Al Rashidi, Director of the Criminal Security Sector of Abu Dhabi Police, explained that scammers convince victims they have won cash prizes, only to demand payments or personal information to process the reward. Abu Dhabi Ramadan scam warning He urged the public to verify the authenticity of such competitions, avoid sharing confidential data, and report any suspicious activity. He also stressed the importance of staying vigilant against online fraud and adhering to cybersecurity guidelines. Major General Al Rashdi urged those wishing to donate only through authorised organisations and legal channels. Suspicious activities can be reported via the Police via: Phone: 800 2626 SMS: 2828
Al Etihad
20-03-2025
- Al Etihad
Abu Dhabi Police warn against Ramadan scams on social media
20 Mar 2025 17:08 ABU DHABI (WAM)Abu Dhabi Police have cautioned the public against fraudulent Ramadan competitions circulating on social media, which trick users into sharing personal and banking details under the guise of claiming a police also warned against fake charity links on social media impersonating legitimate General Mohammed Suhail Al Rashidi, Director of the Criminal Security Sector of Abu Dhabi Police, explained that scammers convince victims they have won cash prizes, only to demand payments or personal information to process the urged the public to verify the authenticity of such competitions, avoid sharing confidential data, and report any suspicious activity. He also stressed the importance of staying vigilant against online fraud and adhering to cybersecurity guidelines. Major General Al Rashdi urged those wishing to donate only through authorised organisations and legal channels. Suspicious activities can be reported via the Abu Dhabi Police hotline at 800 2626, SMS to 2828, or through
Observer
23-02-2025
- Business
- Observer
Turning dreams into goals: The key to success
MUSCAT, FEB 23 Success in the marine industry requires a blend of passion, strategic vision and resilience, qualities that have propelled Anwar Hamood al Rashdi to the forefront of Oman's boating sector. As the CEO of United Boats, he has built a thriving business by transforming ambitions into tangible goals. In an exclusive interview with the Observer, Al Rashdi emphasised that true success stems from careful planning and execution rather than mere aspirations. 'I turned all my dreams into goals because not every dream comes true, but a goal is only a goal through planning,' he explained. His philosophy underscores the importance of determination, planning and continuous learning — values that have guided his journey from a marine sports enthusiast to the leader of a pioneering company in Oman's boating industry. BUILDING A VISION FOR SUCCESS Al Rashdi's entry into the maritime industry was driven by his deep-rooted passion for marine sports. Over the years, he accumulated valuable experience by organising tournaments, leading specialised committees and engaging with industry experts. In 2011, he took a decisive step by founding United Boats, setting his sights on transforming the local marine industry. His leadership has led to several groundbreaking initiatives, including Oman's first Marine Exhibition and Conference in 2022, the upcoming National Maritime Parade in 2025 and a strategic partnership with Gulf Craft to transfer advanced boat manufacturing technology to Oman. 'Our vision is clear: to become the leading brand in the boating and marine sports industry in the Gulf and beyond,' he stated. OVERCOMING CHALLENGES WITH INNOVATION Like any business leader, Al Rashdi has faced obstacles, particularly the seasonal nature of marine activities in Oman. However, instead of viewing this as a limitation, he turned it into an opportunity. 'We tackled this by diversifying services and introducing year-round maritime experiences,' he said, emphasising that adaptability is crucial for sustainability. His company has also ventured into marine tourism, investing in yacht manufacturing and marina development, ensuring that Oman remains a key player in the regional maritime sector. Additionally, United Boats is actively involved in sustainability efforts, developing eco-friendly boats and launching marine conservation initiatives. LEADERSHIP THAT INSPIRES For Al Rashdi, leadership is not just about making decisions but about inspiring and empowering his team. 'I believe true leadership lies in motivating and guiding the team towards shared goals,' he said. He fosters a culture of innovation and teamwork, ensuring that his employees feel a sense of belonging and commitment to the company's mission. His leadership style has been instrumental in securing international recognition for United Boats. The company's participation in the 2024 Dubai International Boat Show has opened doors for investment and trade partnerships, further cementing Oman's position in the global marine industry. ADVICE FOR FUTURE LEADERS Reflecting on his journey, Al Rashdi encourages young entrepreneurs to embrace challenges and remain committed to their ambitions. 'Passion is the key! Seek experience, embrace challenges and never stop learning. Persistence and continuous development are the foundations of success in any field,' he advised. As United Boats continues to expand its reach, Al Rashdi remains focused on his long-term vision. 'United Boats will soon be a global company — it's just a matter of time,' he asserted confidently. With a clear strategy and an unwavering commitment to innovation, he is set to leave a lasting impact on Oman's marine sector. Al Rashdi's story is a testament to the power of turning dreams into goals. By combining passion with strategic planning and relentless execution, he has not only built a successful business but also inspired the next generation of leaders in Oman's maritime industry.
