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Kharon Partners with AIAG to Enhance Global Risk Insights and Address Forced Labor in Automotive Supply Chains

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New Collaboration Equips Automotive Industry, OEMs, and Suppliers with Access to Kharon’s Advanced Data and Technology Solutions for Navigating Forced Labor Due Diligence

DENVER, Nov. 7, 2024 /PRNewswire/ — Kharon announces a strategic partnership with Automotive Industry Action Group (AIAG). Through this partnership, Kharon will expand its support for the automotive sector in navigating challenges related to forced labor risks within supply chains. This collaboration represents a unified approach between AIAG’s established framework for automotive standards and Kharon’s best-in-class risk analytics solutions to strengthen and advance supply chain transparency and integrity for the automotive industry.

Amid increasing resolve to eradicate forced labor from global supply chains, the automotive industry continues to take steps to strengthen its due diligence efforts, building on years of progress in this area. This partnership will support the industry in addressing these ongoing challenges and further advancing industry standards during a period of evolving scrutiny and expectations.

AIAG is a not-for-profit organization dedicated to developing standards and best practices for the global automotive sector, aiming to drive down cost and complexity in supply chains. This partnership will empower AIAG members and their network of global suppliers with access to Kharon’s top-tier solutions and insights. Together, Kharon and AIAG will support the automotive industry in adopting a forward-looking approach to risk management, ultimately contributing to more transparent and ethical supply chains.

“We are thrilled to build on our legacy of helping advance standards and practices for the automotive industry through our new partnership with Kharon,” said AIAG CEO Matt Pohlman. “This collaboration marks a significant step in our ongoing mission to help the automotive sector thrive with both success and integrity.”

“This partnership with AIAG represents a significant opportunity to drive meaningful change in the automotive sector,” said Paul Gerbino, VP of Partnerships at Kharon. We are proud to be chosen as one of four preferred service providers in the Automotive Industry Action Group Forced Labor Due Diligence Program, which has been developed in collaboration with leading OEMs, including Ford, GM, Honda, Nissan, Stellantis, and Toyota. The Kharon platform provides deep, expert-driven risk insights and integrates seamlessly with any of the versatile supply chain mapping platforms that have been selected for this program.”

Kharon’s expertise in generating data-driven insights, enhanced by subject matter expert analysts and advanced AI and Machine Learning (ML) systems, provides the automotive industry with comprehensive insights into global supply chain risks, including those associated with forced labor. By incorporating Kharon’s data into their supply chain due diligence efforts, automotive organizations can gain comprehensive insights into global supply chain risks, including those associated with forced labor. Kharon’s leadership in this area is underscored by its recent contracts with U.S. Customs and Border Protection (CBP) and U.S. Department of Homeland Security (DHS) to support forced labor investigations and enforcement.

“Collaborating with AIAG is a great opportunity to accelerate and scale supply chain transparency and integrity within the automotive industry,” said Ethan Woolley, a Strategic Growth Director at Kharon. “We are eager to harness Kharon’s advanced risk analytics to support AIAG members and their global suppliers in tackling challenges related to forced labor and supply chain risks. Most importantly, we will quickly advance industry standards during this critical period.”

About AIAG
The Automotive Industry Action Group (AIAG) is a unique not-for-profit mobility industry association where automakers, suppliers, service providers, government entities, and individuals in academia have worked collaboratively for over 41 years to drive down cost and complexity within the supply chain. Now the largest global association, we’re comprised of more than 4,800 companies in over 70 countries.

About Kharon
Kharon helps leading organizations identify a range of sanctions and compliance risks, critical to managing financial crimes, supply chain exposure, export controls, investment risk, and more. Combining cutting-edge technology and data science with industry-leading research, Kharon provides the critical insights required for a comprehensive view of risk and commercial threats. Visit Kharon.com and follow Kharon on LinkedIn to learn more.

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Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed

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DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.

Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.

Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.

Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

About Qatar Development Bank

Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.

For more information, visit: https://www.qdb.qa/

 

SOURCE Wahed

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Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region

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DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.

On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”

Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.

His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.

As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.

Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

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“India Global Forum’s mission more relevant than ever,” says Finance Minister Nirmala Sitharaman ahead of IGF Middle East and Africa 2024

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India Global Forum’s flagship event in UAE kicks off in Dubai on 25 November with IGF ForumPolicymakers, politicians, business figures and celebrities from India, UAE, Africa to converge at inaugural session

DUBAI, UAE, Nov. 24, 2024 /PRNewswire/ — Ahead of India Global Forum’s (IGF) flagship Middle East & Africa 2024 (ME&A 2024) in Dubai on Monday, 25 November, Finance Minister Nirmala Sitharaman commended the role of the organisation in fostering global partnerships.

“Through their impactful and outcomes driven work, India Global Form has consistently provided a platform that fosters a better understanding of modern India and its vast opportunities for the global audience. It has also played an important role in building meaningful cross-border connections.

“India Global Forum’s mission to build corridors of technology, talent, investment and trust is more relevant than ever,” she said.

Under the theme of ‘Limitless Horizons’, IGF ME&A 2024 will foster new partnerships and collaborations between India, the Middle East, and Africa, unlocking opportunities in sectors such as technology, finance, sustainability and innovation.

The two-day event will begin with a special address by India’s Commerce Minister Piyush Goyal.

The inaugural session will also witness UAE’s Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, Omar al Olama, delve into the policies and reforms driving technological innovation in the UAE.

Looking forward to IGF ME&A, Indian Ambassador to the UAE, Sunjay Sudhir said: “The India-UAE relationship has entered an exciting new phase of exponential growth. We are at a moment in history where India-UAE relations are driving the synergy between our regions which has never been greater, and IGF serves as a beacon for harnessing this potential.”

Manoj Ladwa, Founder and Chairman, India Global Forum (IGF), said: “India’s External Affairs Minister, S. Jaishankar, aptly noted during his recent visit to Dubai that the India-UAE ties are in an era of new milestones. These ties are not just about trade figures or agreements – they represent a deeper alignment of values, aspirations, and shared visions for the future. IGF Middle East and Africa is an opportunity to channel this momentum into actionable outcomes that benefit not just our nations but the wider region.”

Featuring over 200 speakers and 1,000 participants across nine streams, IGF ME&A 2024 includes:

IGF Dialogues: An exclusive gathering of industry leaders and policymakers engaging in peer-to-peer roundtable discussions.IGF Forum: A Deep dive into how India, the Middle East, and Africa can embrace limitless horizons in a changing worldLeaders Dinner: An exclusive by-invite only dinner at the BAPS Hindu Mandir in Abu DhabiFounders and Funders Forum: Spotlighting the possibilities and pitfalls of the growing role of AI in India, the Middle East, and Africa.Climate and Business Forum (ClimB) – Exploring how businesses can achieve growth while prioritising sustainability and climate actionIGF Focus Forum – Discussions across diverse event streams, including leadership, entrepreneurship, healthcare, skilling and cultureDisruptors in the Desert – Demystifying emerging trends and technologies across key sectors poised to shape the next decade of the Global South. 

These engagements will tackle pressing global challenges, from climate change and energy transition to the future of AI and digital economies, bringing together a diverse lineup of global leaders, business pioneers, policymakers, and innovators.

Key Speakers across the event include:

H.E. Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work ApplicationsH.E. Sunjay Sudhir, Ambassador of India to UAEMahesh Bhupathi, Indian Tennis LegendYusuf Tambawala, Vice President of Growth & Business Support, DP WorldLeander Paes, Indian Tennis LegendAbhimanyu Munjal, Managing Director and CEO, Hero FincorpHarsh Jain, Co-Founder, Dream11Monish Shah, Founder and CEO, DreamSetGoSanjay Nayyar, Founder and Chairman, Sorin AdvisorsAmnah Ajmal, Executive Vice President, Market Development, Eastern Europe, Middle East and Africa, MastercardNeeraj Makin, Senior Executive Vice President, Group Head – Strategy, Analytics & Venture Capital, Emirates NBDSiddharth Shah, Co-founder, PharmeasyFaizal Kottikollon, Chairman, KEF HoldingsRola Abu Manneh, CEO Middle East, Standard CharteredSiddharth Balachandran, Executive Chairman & CEO, Buimerc CorporationKuppulakshmi Krishnamoorthy, Global Head, Zoho for StartupsMina Liccione, Comedian, Dubomedy

About India Global Forum
India Global Forum tells the story of contemporary India. The pace of change and growth India has set itself is an opportunity for the world. IGF is the gateway for businesses and nations to help seize that opportunity.  To know more, click here

Social Media Handles & Hashtag to Follow
Twitter: @IGFUpdates & @manojladwa
LinkedIn: India Global Forum
#IGFUAE

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