Latest news with #AlRashdi
Observer
4 days ago
- Business
- Observer
Health insurance claims management firm established in Oman
The first company specializing in health insurance claims management company, was established today. Green Line Health Insurance Claims Management Company is the first Omani company licensed for this activity, supported by a national vision consistent with the directives of Oman Vision 2040, aiming to provide services with global standards using the latest technologies, and to enhance and empower national competencies to undertake a key role in this new field. Faisal Hamad Al Rashdi, Co-founder and CEO of Green Line Insurance Services, stated that, due to his long experience in the health insurance sector, he observed the operational challenges facing this sector, whether at the level of insurance companies, healthcare providers, or even policyholders. Given a clear gap in claims management, Al Rashdi decided to establish this company, especially with the Financial Services Authority (FSA) announcing the opening for applications to practice health insurance claims management as an independent and regulated activity. This presented a national opportunity to establish a specialized local company that contributes to building this vital sector. He explained that the market lacked a specialized company in health insurance claims management, with a greater reliance on foreign companies managing operations from outside Oman. This affected the speed and quality of services, in addition to the possibility of health data, which is highly sensitive, being leaked through external systems. The Financial Services Authority had taken the initiative to issue clear legislation to ensure the protection of this data within Oman. He noted that the company represents a reliable source managed by national competencies, meeting market needs through its proximity to clients, which directly reflects on work quality and the speed of transaction completion. Faisal Al Rashdi said that it is natural for any sector to face some challenges when entering a phase of change, especially when there are long-standing working relationships between the market and external parties that have managed this activity for decades. However, he stressed the necessity of redoubling efforts to build trust and confirm readiness to provide high-standard services that meet the needs and aspirations of target groups, in addition to full compliance with national regulations. As for the project's nature, he mentioned that the company offers a comprehensive package of services in health insurance claims management that meets international standards. These include accurate and prompt medical claims management, medical and administrative verification using smart systems to detect duplication and errors, as a step towards time management. It also covers medical network management, from contracting with hospitals and clinics to ensuring the quality of service provided to policyholders, in addition to data analysis and smart reporting that helps insurance companies make decisions based on accurate data. He emphasized that the company relies heavily on digital solutions and modern technologies, including artificial intelligence, for faster data analysis and the automation of routine operations using robotic process automation (RPA), which reduces manual errors and saves time and effort. Furthermore, it is fully integrated with the national platform developed by the Financial Services Authority ("Dhamani" platform), which has been approved for fully electronic operations. He clarified that the company handles data confidentially, storing client data on company-owned servers only, without relying on external servers, to ensure complete control over information security. It applies best cybersecurity standards, such as advanced data encryption during transmission and storage, firewalls, and intrusion detection and prevention systems. Additionally, access permissions are granted on a limited and well-considered basis according to the employees' job roles, along with adherence to all local and international laws and regulations related to data protection and periodic reviews to ensure continuous compliance.
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
