RIYADH: The open banking policy approved by the Saudi Central Bank (SAMA) on Sunday is expected to benefit the Kingdom’s financial technology (fintech) companies due to its advanced and varied services, experts said.
SAMA said in a statement that the policy would enable bank customers to securely manage their bank accounts and share their data with third parties. Customers will also have access to bespoke financial products and services from the same platform and enjoy smoother daily banking activities.
Fadhel Al-Buainain, a former Saudi banker, said that it is a known fact that only the customer and the bank have access to confidential banking information. Following the implementation of the new policy, however, a third party can also have access to such information if the customer grants it permission. In this way, customers will be able to securely manage their bank accounts and share financial data.
January 8 2021 / Modified on January 26 2021 In Tanzania, the government suspended M.A. Kharafi & Sons from the Mwanga-Same-Korogwe water mega-project. It is one of the two companies that were awarded the contract to build the drinking water production facilities for the mega-project. M.A. Kharafi & Sons was expected to complete its work in 2017.
In Tanzania, the Mwanga-Same-Korogwe water mega-project launched in 2014 is stalled. This is due to the slow pace of work by construction companies, notably Kharafi, which is expected to deliver the water treatment facilities in 2017. But in 2021, the taps of households in the beneficiary districts (Mwanga, Same and Korogwe) remain dry.
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Over 50km of roads to be constructed in The Gambia ahead of OIC summit
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The local organising committee for the Organization of Islamic Cooperation (OIC) summit is spearheading the construction of over 50km of roads in The Gambia to ease traffic congestion ahead of the 2022 event.
Some of these long stretched roads include: Sukuta- Willingkama, Brufut-Ghana Town; Touba Sanchaba road-Kerr Serign-Sukuta camping; and shorter ones like the Kanifing Hospital to GTMI and the Rev J.C. Faye roads amongst 20 other designated points.
Design for the project
According to Mr Imded Gharbi, manager of Pan-Arab Consultants’ Engineers (PACE), the consultancy firm in collaboration with National Roads Authority (NRA), the design is taking some time because the construction works are taking place in an urban area and the specific character of each of the 20 sections must be taken into consideration as it determines what kind of road to be built.
Construction of school in Osh region financed by Saudi Fund for Development 75% complete
AKIPRESS.COM - Construction of a new school for 225 students in Chek-Abad village, Aravan district of Osh region is 75% complete, the Architecture and Construction Agency reported.
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