Technology

PT SMI Successfully Hosted the ADFIAP International CEO Forum XVII, Sharpens Collaborations to Accelerate Sustainable Development

Published

2 weeks ago

November 8, 2024

BALI, Indonesia, Nov. 8, 2024 /PRNewswire/ — ADFIAP International CEO Forum XVII successfully concluded with over 150 esteemed participants shared common agreement regarding the crucial role of Development Finance Institutions (DFI). The event hosted by PT Sarana Multi Infrastruktur (Persero) (“PT SMI”), a state-owned enterprise under the Ministry of Finance of the Republic of Indonesia, held in Bali, Indonesia, on November 6-8 2024.

Under the forum theme, “Building a Sustainable Future: The Crucial Role of DFIs in a Low Carbon Development Agenda”, the conference brings together CEOs of development banks and ADFIAP member financial institutions to conduct meaningful dialogues, exchange ideas and collaborate on current issues related to sustainable development and climate change challenges as well as financing the development of projects related to climate change faced by many financial institutions. The forum served as a platform for high-level discussions, knowledge sharing and collaboration among key industry stakeholders, which will support the common goals.

As the forum concluded, there are several key takeaways emerge: a. The urgency of climate action is undeniable. DFIs must accelerate the energy transition and adopt sustainable practices across all sectors; b. Collaboration is the key to unlocking the full potential of sustainable development. By working together, DFIs can overcome challenges, share knowledge, and amplify their impact; c. Innovation is the engine of progress. DFIs must embrace new ideas, technologies, and business models to address the complexities of the 21st century; d. The human dimension must be at the heart of DFI’s work. DFI must prioritize social equity, environmental sustainability, and human well-being.

PT SMI was appointed as the host of CEO Forum for the first time, since joining ADFIAP back in 2016. Through its membership in ADFIAP, PT SMI expands networks and builds relationships with financial institutions to collaborate and contribute to sustainable development.

“We are truly privileged to host this important event and appreciate the trust and confidence placed in us by ADFIAP. The theme of this year’s forum, “Building a Sustainable Future: The Crucial Role of Development Finance Institutions in a Low Carbon Development Agenda” couldn’t be more timely. PT SMI is committed to transforming itself into a full-fledged DFI. By focusing on research-based concessional loans and aligning our activities with the principles of People, Planet, Profit, and Prosperity, we aim to maximize our impact on sustainable development”, says Reynaldi Hermansjah, President Director of PT SMI.

Notable speakers from renowned DFIs, government institutions, and international organizations enlightened participants with their expertise and insights. Key topics covered included equitable energy transition, leveraging digital transformation strategies, the role of impact investment in building resilient infrastructure, and ensuring universal water access and sanitation. The delegates were also treated to experience the richness of Balinese culture through a series of tour agendas, enjoying traditional culinary and local arts.

“This year’s CEO Forum proved successful in uniting visions through a number of fruitful discussions. We are aware that the effort for driving sustainable development and combating climate change is still a work in progress. But what we achieved here in Bali in the past few days is definitely essential for us to move forward with our collective agenda of fostering sustainable growth and development in our region and beyond”, says H.E. Dr. Kao Thach, ADFIAP Chairman.

Association of Development Financing Institution in Asia Pacific (ADFIAP) is an association whose members are development banks and other financial institutions involved in the development financing activities in the Asia-Pacific region. Founded in 1976, ADFIAP has a mission to advance sustainable development through its members which currently consist of 94 institutions in 41 countries.

About PT Sarana Multi Infrastruktur (Persero) (“PT SMI”)

PT Sarana Multi Infrastruktur (Persero) (“PT SMI”) was established on February 26, 2009 as a State-Owned Enterprise under the coordination of the Ministry of Finance as a Non-Bank Financial Institution, with a role and mandate to act as a sustainable development agent.

PT SMI has various functions and unique products/features to support the acceleration of infrastructure development which not only functions as an infrastructure financing but also as an enabler through the implementation of a Public Private Partnership (PPP) scheme, which includes various financial institutions, both private and multilateral. PT SMI actively supports the PPP implementation and encourages the acceleration of infrastructure development in the regions through regional loan products.

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SOURCE PT Sarana Multi Infrastruktur (Persero)

Technology

Max Stock Limited Announces Change in Shares Held by an Interested Party

Published

3 hours ago

November 24, 2024

CAESAREA, Israel, Nov. 24, 2024 /PRNewswire/ — Max Stock Limited (TASE: MAXO(; )the “Company”, “Max Stock“) today announced that on November 20th, 2024, Phoenix Financial Ltd. and Phoenix Investment House Ltd. (“Phoenix reporting group”), including their respective nostro account, provident funds and provident fund management companies, as well as mutual fund management companies and market maker sub entities, informed the Company that they had sold shares of the Company thereby lowering their joint holdings to 4.8% of the Company’s issued capital (4.15% and 0.65% respectively). As a result, Phoenix reporting group will no longer be an interested party in the Company.

This is an English translation of segments of a Hebrew immediate report that was published on November 24, 2024 (Ref. No: 2024-01-618032) (hereinafter: the “Hebrew Version”). This English version is only for convenience purposes. This is not an official translation and has no binding force. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.

About Max Stock

Max Stock is Israel’s leading extreme value retailer, currently present in 64 locations throughout Israel and 2 locations in Portugal. We offer a broad assortment of quality products for customers’ everyday needs at affordable prices, helping customers “Dream Big, Pay Small”. For more information, please visit https://ir.maxstock.co.il

Company Contacts:

Talia Sessler,
Chief Corporate Development and IR Officer
talia@maxstock.co.il

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SOURCE Max Stock Limited

Technology

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

Published

7 hours ago

November 24, 2024

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

Technology

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

Published

7 hours ago

November 24, 2024

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

For more information, visit: www.wahed.com

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