Day: May 15, 2023

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, has approved the dates of the 32nd Al Gaffal Long Distance Race dedicated to traditional 60-feet sailing ships. The heritage sport event will take place from 26th to 28th May. Organised annually by the Dubai International Marine Club, the event takes place at the end of the marine sports season. Sheikh Hamdan noted that the iconic annual race has made significant contributions to reviving the UAE’s marine heritage. The race, which has grown in popularity over the years, celebrates the role the sea has played in the society, culture and economy of the nation throughout its past. Sheikh Hamdan bin Mohammed directed the Higher Organising Committee of the event to ensure the seamless organisation of the tournament, which will chart a course of 50 nautical miles starting from Sir Bu Nair Island, passing through Crescent Moon Island, and ending on the shores of Dubai. Sheikh Hamdan bin Mohammed urged all those involved in the event to work together to ensure the success of the event. Ahmad Saeed bin Meshar, Chairman of the Dubai International Marine Club, and head of the event’s organising committee expressed his appreciation to Sheikh Hamdan for his patronage of the event, which was launched in 1991 by the late Sheikh Hamdan bin Rashid Al Maktoum. The event is one of a series of heritage sports tournaments conceived by the late Sheikh Hamdan bin Rashid that have led to traditional marine sports occupying a strong place in the UAE’s sporting calendar. Tariq Al Fahaam/ Muhammad Aamir

Source: Emirates News Agency

UAE Banks Federation, the representative body and voice of UAE banks, highlighted the effectiveness of the UAE’s efforts in combating financial fraud supported by the many initiatives and measures being implemented by the sector under the guidance and supervision of the Central Bank of the UAE (CBUAE), which is taking proactive steps to combat financial fraud, at the 2023 ACFE Fraud Conference Middle East. The CBUAE is constantly taking proactive steps to combat financial fraud and is developing laws and regulations and employing advanced technology to prevent and detect fraud. The conference hosted by the Association of Certified Fraud Examiners (ACFE), with support from strategic partners, including UAE Banks Federation, took place in Dubai on 8-9 May and was attended by more than 300 experts and professionals in the field. Participation in this important annual conference is part of the Federation’s efforts to help member banks build and develop competitive and sustainable business models that benefit customers and economic and social development by combating fraud and providing a secure and streamlined banking and financial system. The conference discussed the key challenges and topics in dealing with fraud, especially in the digital age, which is witnessing a remarkable rise in fraud cases that threatens the security of financial and banking institutions as well as individual and institutional customers. The UAE has been proactively improving compliance and fraud-related laws and regulations, raising awareness of fraud risks, and providing training and support to all banking employees to enhance their knowledge and skills in fraud prevention and detection. Jamal Saleh, Director General of UAE Banks Federation, delivered the opening address and said, “Our participation in the ACFE Fraud Conference Middle East is part of our continuous efforts to create and maintain the safety and security of the thriving banking system in the UAE. The conference discussed the latest trends in combating and monitoring financial fraud and ways to collaborate with stakeholders in the region and the rest of the world.” He explained that the UAE’s focus on digital transformation and innovation in adopting advanced technologies such as artificial intelligence, machine learning and biometrics is helping to enhance fraud detection and control capabilities and that the “Tasharuk” information sharing and analysis platform, established by UAE Banks Federation and the first of its kind in the country, is playing an influential role in helping to detect cyber risks through the exchange of critical information. He added, “The UAE is well positioned to further strengthen its leadership in combating fraud, with continued investment in technology, training and collaboration. Besides, the National Cybersecurity Strategy contributes to enhancing the integrated system by implementing many initiatives, evaluating their results and evolving them in line with global changes.” The conference was attended by experts and high-ranking officials in the regional banking and finance sector. Panel discussions on the first day of the conference included ‘Changes in Operations and its Implications for the Banking Industry’, ‘Fraud Risk Management in Sustainability Initiatives’ and ‘The Evolution of Fraud in Global Financial Markets’. The second day covered various topics, including “Leveraging the power of Technology in combating fraud”, “Compliance challenges and ethical standards related to fraud”, and “The behavioural pattern of fraudsters – the difference between traditional and cyber fraud”. Participants stressed the importance of continuously improving systems and technologies to create a safe and secure banking environment. They lauded the UAE banking sector’s experience in continuously developing its legal and regulatory framework in line with The Central Bank of the UAE guidelines to ensure compliance and implementation of fraud prevention measures by financial institutions.

Source: Emirates News Agency

The annual SAMENA (South Asia – Middle East – North Africa) summit was held at the Atlantis Hotel in Dubai, with the active participation and sponsorship of the Telecommunications and Digital Government Regulatory Authority (TDRA). The event was attended by Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, as a guest of honour, and a group of decision-makers and workers in ICT from the public and private sectors in the Middle East and North Africa (MENA) region. In his opening speech, Majed Sultan Al Mesmar, Director-General of TDRA, emphasised the importance of regional cooperation to advance the telecommunications sector and promote digital transformation in order to contribute to creating a sustainable digital economy that serves the region. He noted that advanced digital ecosystems have had a significant impact on society, the economy, and government operations. Emerging technologies are a powerful driver of the transformation process toward a sustainable digital economy, whether in the UAE, the region, or the world. Al Mesmar acknowledged that the journey toward a sustainable digital economy has challenges that must be overcome by working together and turning them into opportunities. One such challenge is the legislative issue, as technology is constantly evolving, and to keep pace with it legislatively, we must be highly innovative. TDRA launched the first experimental legislative environment for the ICT sector, the ICT Regulatory Sandbox, on the sidelines of the World Government Summit held in Dubai last February to help meet this challenge. Al Mesmar also called for concerted efforts to support countries that are not connected to submarine cables, which deprive them of broadband internet services, and offered the UAE’s assistance in this context based on the country’s global trends. He said, “The UAE is ready to provide the necessary advisory and technical support to those countries to achieve the noble global slogan raised by the United Nations in the context of its development goals (Leave no one behind).” Mohammed Al Ramsi, Deputy Director-General for the Telecommunications Sector, participated in the activities of the 5.5G session. Al Ramsi presented the TDRA’s efforts to enhance the infrastructure of 5G and 5.5G, and the role of this technology in promoting innovation and increasing the speed of communication between devices and stations, which support the establishment and development of smart cities in education, health, transport, logistics, industry and others. Al Ramsi indicated that the TDRA had taken many necessary steps to facilitate the development of 5.5G, including allocating spectrum at 6GHz and mmWave scales. Among the TDRA’s participants in the summit sessions, Adel Al Mehairi, Director of CERT, participated in a discussion session on enhancing digital trust to reach a sustainable, connected and smart world. Khalid Al Awadi, Manager of Broadcasting and Space Services, also participated in a session on the integration of terrestrial and non-terrestrial networks and space platforms. The TDRA also saw active participation in the discussion session “Creating Digital Value and the Internet”, where Sultan Albalooshi, Manager of Spectrum Policy, touched on the importance of infrastructure in enhancing the role of the Internet in digital life and the digital economy. On the summit’s sidelines, the TDRA participated in the collective launch of the 5.5G open lab in partnership with Etisalat by eand and Huawei. This launch reflects the stakeholders’ keenness on the principle of partnership in preparing for the future and dealing smartly with new technologies.

Source: Emirates News Agency

Abu Dhabi Motorsports Management (ADMM) and Flash Entertainment have merged their activities and operations to create a new powerhouse, called ‘Ethara,’ which will lead the future of events, entertainment, and venue management in the Middle East and beyond. The name ‘Ethara’ means ‘thrill’ in Arabic and aims to capitalize on the region’s unique opportunities in the live events space while maintaining the Middle East’s position on the global entertainment stage. Ethara will be headed by Saif Al Noaimi, who previously served as the CEO of ADMM and as a board member of Flash Entertainment. Under his leadership, the company will expand its commercial reach to new markets. Al Noaimi, CEO of Ethara, said, “By combining our strengths, we are perfectly positioned to make memorable moments that matter. By integrating the activities and operations of two of Abu Dhabi’s pioneering entertainment and event management titans, Ethara will further establish the Emirate as an economic engine in the entertainment, event management, and sports industries, locally, regionally, and internationally.” He added: “We have an unrivalled wealth of expertise, experience, knowledge and skills, which will propel Ethara’s success far beyond what either company could achieve alone all powered by world-class creativity and innovation.” ADMM and Flash have collectively conceptualised, produced, promoted, and delivered over 700 major events to more than 16 million fans in the 15 years since their inception. These events have included the Formula 1 Etihad Airways Abu Dhabi Grand Prix, Yasalam After-Race Concerts, Mubadala World Tennis Championships, FIFA Club World Cup, AFC Asian Cup, NBA Abu Dhabi Games, UFC, national celebrations and festivals, as well as many more spanning sport, music, culture, entertainment, corporate, and MICE events. Ethara welcomes the teams from both organisations under the new entity across offices in Abu Dhabi, Dubai, and Riyadh. Through the combination of expertise, Ethara will now seek to drive reach through an innovative approach to technology and future-focused ambitions across key markets. “Ethara provides an exceptional platform to realise our collective potential and create experiences of the future, today,” said Al Noaimi. “Ethara is a people-first event, and entertainment powerhouse that promotes and delivers best-in-class experiences.” Ethara will continue to manage and oversee an impressive portfolio of assets, including: Etihad Park, the region’s largest open air venue; Etihad Arena, the Middle East’s largest indoor multi-purpose, state-of-the-art entertainment venue; Abu Dhabi’s iconic Formula 1 circuit, Yas Marina Circuit; along with the Yas Conference Centre, offering versatile conference, meeting and events spaces with stunning Yas Island views. The company will also nurture and enhance existing relationships with local and international partners, which have been established since the inception of both organisations, as well as creating new partnerships that will see future, first-to-market events, ideas and activations.

Source: Emirates News Agency