ICIEC and Al-Baraka Islamic Bank Bahrain sign credit insurance policy

(X @ICIEC_IDB)
(X @ICIEC_IDB)
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Updated 22 July 2025

ICIEC and Al-Baraka Islamic Bank Bahrain sign credit insurance policy

(X @ICIEC_IDB)
  • CEO of ICIEC Dr. Khalid Khalafalla said: “This strategic collaboration with Al-Baraka Islamic Bank reflects ICIEC’s commitment to advancing intra-OIC trade and investment

The Islamic Corporation for the Insurance of Investment and Export Credit, a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, and Al-Baraka Islamic Bank Bahrain signed a documentary credit insurance policy. The policy will strengthen support for Shariah-compliant trade finance, enabling greater security and confidence in the international trade ecosystem.
Under this partnership, ICIEC will provide insurance coverage for the confirmation of letters of credit issued by Al-Baraka Islamic Bank in connection with the import and export of eligible Shariah-compliant goods and services. This solution will help mitigate payment risks associated with cross-border trade while promoting sustainable growth in ICIEC’s member states.
CEO of ICIEC Dr. Khalid Khalafalla said: “This strategic collaboration with Al-Baraka Islamic Bank reflects ICIEC’s commitment to advancing intra-OIC trade and investment. By supporting Shariah-compliant trade finance through our documentary credit insurance policy, we are facilitating secure trade flows while empowering Islamic banks to broaden their offerings to clients.”
CEO of Al-Baraka Islamic Bank Bahrain Dr. Adel Salem said: “We are delighted to partner with ICIEC on this pioneering credit insurance policy, which empowers us to extend Shariah‑compliant trade finance to our clients, bolster Bahrain’s role as a regional hub for Islamic banking, and stimulate sustainable economic growth across member states worldwide. This collaboration underscores our commitment to innovation and robust risk management, giving the businesses we serve greater confidence to expand in global markets.”
The documentary credit insurance policy serves as a vital tool for Islamic banks, enhancing their ability to expand trade finance operations with reduced exposure to commercial and political risks.

The policy also complements ICIEC’s broader mandate to promote economic resilience, financial inclusion, and private sector development in member countries.


Why organizations in are moving to Google Cloud — with Bespin Global

Why organizations in  are moving to Google Cloud — with Bespin Global
Updated 05 October 2025

Why organizations in are moving to Google Cloud — with Bespin Global

Why organizations in  are moving to Google Cloud — with Bespin Global

As accelerates its digital transformation under Vision 2030, organizations across the Kingdom are re-evaluating their cloud strategies. One major trend being seen at Bespin Global MEA is the growing adoption of Google Cloud, especially following the launch of the Google Cloud region in Dammam. 

With enhanced data sovereignty, low-latency services, and compliance with local regulations, Google Cloud is rapidly becoming the platform of choice for organizations looking to modernize operations and scale efficiently. As a Premier Google Cloud Partner and Managed Services Provider, Bespin Global MEA has helped leading enterprises across industries transition smoothly, unlocking tangible benefits in security, reliability, cost-optimization, and innovation. 

Why organizations are switching to Google Cloud 

1. Enterprise-grade security 

Security remains the top concern for CIOs and CISOs. Google Cloud’s built-in security features such as Cloud Identity, Identity and Access Management, and a security-first global infrastructure, offer a robust foundation. Bespin Global MEA builds upon this with customized security architectures, 24/7 threat monitoring, and compliance frameworks tailored to sector-specific needs, from finance to healthcare. 

2. Unmatched reliability 

Downtime is not just inconvenient; it directly impacts customer trust and business continuity. Google Cloud’s advanced features, including live migration and automated failovers, keep systems running smoothly, even during updates. With Bespin Global’s proactive monitoring and incident response, clients experience significantly improved uptime and operational resilience. 

3. Scalability and elasticity 

Organizations in are growing fast. Whether expanding internationally or responding to sudden surges in demand, Google Cloud’s architecture supports real-time scaling. With Kubernetes auto-scaling, elastic workloads, and intelligent resource allocation, scalability becomes seamless. Bespin Global designs cloud environments that flex with your growth, ensuring long-term agility. 

4. Cost transparency and optimization 

Cloud budgets can spiral without oversight. Google Cloud’s pricing model, featuring pay-as-you-go, committed use discounts, and spot instances offers real cost control. Bespin Global further enhances this with FinOps services, including budget forecasting, cloud spend governance, and optimization strategies. 

One standout offering is the OpsNow platform: a smart invoicing and cost-management system powered by AI. It includes anomaly detection, cost chargeback by department, and real-time insights that help organizations track and control cloud expenses effectively. 

5. Innovation-ready toolset 

From AI and analytics to modern application development, Google Cloud is packed with cutting-edge tools like BigQuery, Cloud Spanner, and Gemini AI. Bespin Global enables clients to turn these tools into business value, consolidating complex data environments into real-time analytics dashboards that empower smart, fast decision-making. 

Why choose Bespin Global? 

Bespin Global MEA stands at the forefront of cloud innovation in the Kingdom. With hundreds of successful migrations across the MENA region, the company goes beyond simple lift-and-shift projects. Its approach is strategic, hands-on, and outcome-driven. 

The company provides: 

  • Cloud strategy and assessment 
  • Seamless, zero-downtime migrations 
  • Secure, scalable GCP architectures 
  • Compliance and security configuration 
  • 24/7 managed services and cloud optimization 

Whether you are in finance, healthcare, retail, or the public sector, Bespin Global helps you maximize your Google Cloud investment, turning cloud into a growth engine. 

To learn more, visit: www.bespinglobal.sa


Greek islands, Turkish cities & more: Aroya Cruises launches Season 2

Greek islands, Turkish cities & more: Aroya Cruises launches Season 2
Updated 04 October 2025

Greek islands, Turkish cities & more: Aroya Cruises launches Season 2

Greek islands, Turkish cities & more: Aroya Cruises launches Season 2

’s first-ever cruise line Aroya Cruises has launched a new season featuring Greek islands Mykonos, Athens and Crete, and the Turkish cities of Bordum and Kaş.
“It is a butterfly itinerary between the Greek Islands and Turkish destinations, and also includes Alexandria in Egypt,” Turky Kari, executive director of marketing and corporate communications at Aroya, told Arab News. 
Arab News was onboard the Mediterranean leg of the cruise, sailing between Türkiye and Egypt and stopping at popular destinations such as Marmaris, Bodrum, Kaş and Alexandria. 
Aroya’s first season set sail from the Jeddah Islamic Port to other destinations, including the Jabal Al-Sabaya Island on the Red Sea coast. More than 95,000 guests enjoyed a personalized Saudi hospitality experience at sea as they explored different destinations.
Abroad, the cruise has distinct features, including the AlKhuzama VIP Experience that provides a round-the-clock butler service and curated moments throughout the journey. 
“The AlKhuzama VIP Experience is an elevated service that we provide in suites. We have around 145 suites with nine villas, two of them are presidential and royal, with a capacity of 12 guests each,” Kari said. 
“In AlKhuzama, we offer a dedicated lounge, restaurant, and a 24-hour butler service as well as a private boutique retail area,” he added.
“Aroya Cruises is proudly the first Arabian cruise line. What makes us unique is our remarkable Arabian experience. The Saudi hospitality that we offer on board is different from any cruise line. Our main focus is on family; we are offering many activities, events, entertainment and F&B options that focus on the family,” Kari said.
Aroya is the only cruise in the world that houses a Saudi restaurant — Irth. The restaurant, set up in collaboration with the Ministry of Culture, offers local dishes from each of the major regions of the Kingdom. 
Other dining options include the Amwaj Buffet, Al-Waha, AlKhuzama lounge and restaurant for VIP guests, and Layalina, which offers an authentic taste of Lebanon with live dances and musical performances.
In terms of activities, there is something for everyone — from movie nights to live performances such as clown shows and Saudi orchestra. 
“As the first Arabian cruise line, we are incorporating the Arabian experience in all of our touch points, including hospitality, F&B, and entertainment, which features Arabian Nights,” Kari said.
Moreover, what sets Aroya apart is its special offerings for women, including women-only hours in its spa, sky pool, and gym. 
For a relaxing cruising experience, Bloom, the Aroya cruise spa, offers state-of-the-art treatments, including facials, massages, and body treatments. Moreover, for the guest’s peace of mind, the ship also includes a fully staffed medical center, offering emergency and primary healthcare. 
Meanwhile, a kids’ center hosts cooking classes, art workshops, a state-of-the-art sailing game, as well as other activities for children aged six months to six years.
Kari said the next season of Aroya will primarily focus on the Arabian Gulf, starting from Dammam and cruising to various locations such as Doha, Sir Bani Yas Island, Abu Dhabi, and more. 
“In these journeys, we will welcome guests from and other GCC countries as well as international guests,” he added. 


Riyadh Emerges as Global Hub for Purpose-Driven Investment

Riyadh Emerges as Global Hub for Purpose-Driven Investment
Updated 02 October 2025

Riyadh Emerges as Global Hub for Purpose-Driven Investment

Riyadh Emerges as Global Hub for Purpose-Driven Investment

’s capital is emerging as a global reference point for responsible wealth stewardship. Today, visionary investors Genia Xasis, chief executive officer and partner, and Christopher Aw, chief investment officer and partner, announced the launch of Berkana — a Riyadh-based investment alliance designed to redefine how capital is deployed, not just for returns but for generational impact.

Structured as a circle of influential families and financial leaders from , the Gulf, Dubai and London, Berkana aligns with the ambitions of Vision 2030, catalyzing three key shifts:

  • From passive ownership to informed stewardship.
  • From charitable giving to measurable impact.
  • From opportunistic deals to purpose-led capital strategies.

As part of its strategic roadmap, Berkana has identified five priority sectors aligned with its mission and ’s national transformation goals:

  • Affordable housing: Addressing access to quality living and urban growth
  • Climate technology: Innovations in renewable energy, carbon reduction and sustainability
  • Water supply and preservation: Technologies and infrastructure ensuring water security
  • Food and Agriculture Technology: Scalable innovation driving transformation across industries
  • Healthcare and life sciences: Solutions improving access, efficiency and longevity

“Riyadh embodies the spirit of leadership that inspires action. It is a place where men and women are equally encouraged to lead, innovate and invest with vision. For me, this city is more than a home — it is a compass. Berkana reflects the confidence, openness and ambition that Riyadh is now projecting onto the world.” said Genia Xasis, Berkana’s co-founder.

Christopher Aw, Berkana’s chief investment officer and partner, said: “This is not only about capital; it is about responsibility. Berkana’s framework is a reference point for how investment can shape economies and societies for generations to come.”

Berkana will launch through a series of private roundtables and strategic briefings in Riyadh, Dubai and London, with select opportunities for media engagement. The initiative is already in discussions with regional family offices, sovereign platforms and institutional investors to embed its model across key financial ecosystems.


Al-Futtaim BYD KSA unveils SHARK 6 — 's first-ever plug-in hybrid pickup

Al-Futtaim BYD KSA unveils SHARK 6 — 's first-ever plug-in hybrid pickup
Updated 02 October 2025

Al-Futtaim BYD KSA unveils SHARK 6 — 's first-ever plug-in hybrid pickup

Al-Futtaim BYD KSA unveils SHARK 6 — 's first-ever plug-in hybrid pickup

Al-Futtaim BYD KSA, the official distributor of BYD, a global tech leader and pioneer in New Energy Vehicles, has launched the highly anticipated BYD SHARK 6, 's first-ever plug-in hybrid pickup. 

As the global pickup market expands, the SHARK 6 arrives as a game-changing addition, seamlessly blending commercial utility with premium passenger comfort.

Positioned as a premium, versatile lifestyle vehicle, the BYD SHARK 6 is engineered to meet the evolving demands of modern drivers. 

It leverages BYD’s pioneering PHEV technology, combining the convenience of traditional refueling with the high performance, efficiency, and sustainability of electric propulsion. 

This innovative approach aligns with the objectives of Saudi Vision 2030, supporting a cleaner and more diversified energy future.  

"The launch of the BYD SHARK 6 Super Hybrid marks a pivotal step in redefining mobility in the Kingdom," said Jerome Saigot, managing director of Al-Futtaim BYD in KSA. 

"It’s more than a vehicle, it’s a statement of power, innovation, and sustainable progress. With the SHARK 6, we’re delivering not just a drive, but a lifestyle built for the future," he added.

This landmark launch represents a significant milestone in 's automotive landscape, reinforcing BYD’s commitment to innovation and long-term investment in the Kingdom.

At the heart of the SHARK 6 is the DMO Super Hybrid Off-road Platform, an in-house innovation by BYD that delivers nearly 430 horsepower, equivalent to a 4.0L V8 engine, through an intelligent electric four-wheel drive system. 

This dual-mode architecture eliminates range anxiety while enabling exceptional performance across both off-road and urban environments.

The SHARK 6 also sets a new standard for vehicle architecture and safety. It features BYD’s Cell to Chassis technology, integrating the ultra-safe BYD Blade Battery directly into the high-strength steel frame. 

This design increases torsional stiffness, enhances battery protection in harsh off-road conditions, and allows for a flat rear floor, significantly improving passenger space and ride comfort.

The premium driving experience is further elevated by a double-wishbone independent suspension on both the front and rear, a feature typically found in luxury SUVs, which provides exceptional comfort and agility. 

Furthermore, with its electric-driven mode covering over 80% of typical driving conditions, the SHARK 6 achieves an industry-leading NVH (noise, vibration, and harshness) level for a near-silent and serene journey.

Technologically advanced, the SHARK 6 is equipped with a 540° panoramic view camera, offering full visibility of surroundings and undercarriage. The vehicle-to-load function transforms the pickup into a mobile power station, ideal for powering tools at a worksite or appliances during outdoor activities like camping or grilling.

The launch event was held at Riyadh Arena and brought together media representatives, influencers, customers, and sub-dealers for an exclusive first look at BYD’s cutting-edge hybrid technologies.

Looking ahead, BYD KSA is preparing to unveil even more models, expanding its portfolio of innovative electric vehicles tailored to meet the evolving needs of the Kingdom’s market. This commitment is part of BYD’s global vision to accelerate the transition to new energy mobility through continuous technological advancement.

The all-new BYD SHARK 6 is available for customers in starting Oct. 1.


WETEX 2025: L&T showcases Saudi and GCC renewable projects

WETEX 2025: L&T showcases Saudi and GCC renewable projects
Updated 02 October 2025

WETEX 2025: L&T showcases Saudi and GCC renewable projects

WETEX 2025: L&T showcases Saudi and GCC renewable projects

Larsen and Toubro, a global player in engineering and sustainable infrastructure, showcased its renewable energy and power projects at the Water, Energy, Technology and Environment Exhibition 2025, held from Sept. 30 to Oct. 2 at the Dubai World Trade Centre. L&T presented its advanced solutions in solar, wind, and energy storage, underscoring its commitment to supporting the region’s clean energy transformation in line with national visions, including ’s Vision 2030. L&T is also the platinum sponsor of the annual event that serves as a platform for industry professionals from more than 60 countries worldwide to connect and collaborate.

The company is playing a central role in major renewable initiatives across the GCC, including large-scale solar parks in and the Mohammed bin Rashid Al-Maktoum Solar Park in Dubai. With one of the world’s largest renewable EPC portfolios, the company provides end-to-end hybrid solutions covering solar PV, battery storage, and wind with advanced grid integration capabilities. Leveraging cutting-edge engineering and digital technologies, L&T has delivered more than 35+ GWp of solar plants, 16 GWh of battery energy storage systems, and 444 MWp of floating solar plants.
T. Madhava Das, whole-time director and senior executive vice president (utilities), L&T, said: “L&T is committed to supporting the foresightedness and definitive actions of the leadership of countries and enterprises in the Middle East by bringing in advanced capabilities for global energy transition. With our all-round capabilities in dispatchable renewable generation, power T&D and digital solutions, we are confident of delivering ultra-mega projects to fuel the futuristic ambitions of the region.”
With a track record of having constructed more than 375 substations and 6,500 circuit-km of transmission lines, L&T continues to strengthen the region’s power grid, executing several mega projects involving high-voltage substations and transmission lines linking new or consolidating existing power zones.
The company is also building sustainable water infrastructure across the GCC, with a proven track record of more than 10 major projects worth over $1 billion in the UAE, Oman, and Qatar. Notable achievements include the Jebel Ali Sewage Treatment Plant in Dubai, the country’s largest wastewater treatment facility with a capacity of 375 million liters per day, and the Ad Dakhiliyah water transmission project in Oman, comprising 173 km of pipelines, 15 reservoirs totaling 440,000 cubic meters, and five pumping stations.
Visitors to L&T’s pavilion at WETEX 2025 explored interactive displays, including a BIM ARENA, a digital showcase of L&T’s 3D modeling and project management capabilities, and other advanced tools for sustainable infrastructure planning and execution.