Saudi EXIM Bank Goes Live on Temenos Core Banking Platform

Temenos’ leading functionality and modern technology enable Saudi EXIM Bank to drive operational and financial efficiency in trade finance GENEVA, SWITZERLAND  –  EQS Newswire – 29 March 2023  –  Temenos (www.Temenos.com) (SIX: TEMN) today announced that Saudi Export-Import Bank (Saudi EXIM Bank) (https://apo-opa.info/42NrEET) has implemented Temenos core banking platform (https://apo-opa.info/3G2pGXB), going live in just six […]

Temenos’ leading functionality and modern technology enable Saudi EXIM Bank to drive operational and financial efficiency in trade finance

GENEVA, SWITZERLAND  –  EQS Newswire – 29 March 2023  –  Temenos (www.Temenos.com) (SIX: TEMN) today announced that Saudi Export-Import Bank (Saudi EXIM Bank) (https://apo-opa.info/42NrEET) has implemented Temenos core banking platform (https://apo-opa.info/3G2pGXB), going live in just six months. Temenos enables Saudi EXIM Bank to drive operational and financial efficiency, making it faster and easier for businesses to access trade finance, promoting job creation and economic growth in the Kingdom of Saudi Arabia (KSA).

Temenos’ modern and cloud-native, core banking platform was rapidly deployed. Saudi EXIM Bank worked closely with Temenos and its consultancy and implementation partners, which brought deep local market expertise. Furthermore, Temenos KSA Model Bank approach offered pre-packaged functionality and best practices, which helped the bank meet its business and regulatory requirements in a timely and effective way. Temenos Project Consulting Services with their knowledge and best practices also helped accelerate the project delivery.

Saudi EXIM Bank provides holistic financial services, catering specifically to the needs of businesses in KSA engaged in international trade. By implementing Temenos core banking platform, the bank can streamline its operations and automate processes increasing the bank’s operational efficiency. Temenos’ open platform for composable banking offers flexible and comprehensive coverage for a variety of facility types.

Saudi EXIM Bank was established in 2020 to promote the export of Saudi non-oil products and boost their competency across economic sectors in the global markets. The bank provides financing services, guarantees, and credit insurance with competitive advantages, to enhance confidence in Saudi products.

H.E. Eng. Saad Bin Abdulaziz AlKhalb, CEO of Saudi EXIM Bank, commented: “Our core banking system implementation with Temenos is a step forward for Saudi EXIM Bank to better equipped for achieving the development goals of the Kingdom’s Vision 2030. It will enable faster transaction processing times, improved customer experience, and a more efficient use of resources. It will also help us to better manage risks, with improved data analytics and real-time monitoring capabilities. We are pleased that we have been able to go live in such a short time aided by Temenos’ understanding of banking in Saudi Arabia and its pre-built banking processes.”

William Moroney, Managing Director – Middle East and Africa, Temenos, said: “I would like to extend my congratulations to the team at Saudi EXIM Bank on their go-live with the Temenos cloud-native core banking platform. To implement a new core banking system in under six months is a fantastic achievement. Temenos has a strong presence in the Middle East region with the experience of taking many of the region’s leading banks live on our platform. Banks of the future need a modern, agile core and with deployable components which cover all areas of banking. We look forward to seeing Saudi EXIM Bank and trade finance flourish in KSA on their new Temenos platform.”

Prema Varadhan, President Product and Chief Operating Officer, Temenos, said: “With clients such as Allied Irish Bank (AIB) (https://apo-opa.info/3TOH3km) in Ireland, Commerce Bank (https://apo-opa.info/3lLtWE5) in the USA, and Al Rajhi (https://apo-opa.info/40p0cMn) in Saudi Arabia, corporate banking is a key focus for Temenos. We have a robust product roadmap and we continue to invest heavily to deliver rich corporate banking functionality to help banks reduce the number of legacy systems on a cloud-native platform and improve automation and efficiency.”

In 2022, Temenos was named a leader in The Forrester Wave™: Digital Banking Processing Platforms for Corporate Banking, Q3 2022 (https://apo-opa.info/40l1kAs), with Forrester stating that “Temenos sets the pace in AI-powered banking capabilities and application architecture.”

Distributed by APO Group on behalf of Temenos.

About Temenos:
Temenos (SIX: TEMN) is the world’s leading open platform for composable banking, creating opportunities for over 1.2 billion people around the world every day. We serve 3000 banks from the largest to challengers and community banks in 150+ countries by helping them build new banking services and state-of-the-art customer experiences. The Temenos open platform helps our top-performing clients achieve return on equity three times the industry average and cost-to-income ratios half the industry average. For more information, please visit www.Temenos.com.

Media Contacts:
Jessica Wolfe & Scott Rowe
Temenos Global Public Relations
Tel: +1 610 232 2793 & +44 20 7423 3857
Email: press@temenos.com

Alistair Kellie
SECNewgate on behalf of Temenos
Tel: +44 20 7680 6550
Email: allnewgatetemenos@secnewgate.co.uk

FIFA Removes Indonesia as Host of FIFA U-20 World Cup 2023

FIFA has decided to remove Indonesia as the host of the FIFA U-20 World Cup 2023, scheduled between May 20 and June 11, following its objection to the participation of Israel’s national team.In its statement on Wednesday, FIFA said that a new host wou…

FIFA has decided to remove Indonesia as the host of the FIFA U-20 World Cup 2023, scheduled between May 20 and June 11, following its objection to the participation of Israel’s national team.

In its statement on Wednesday, FIFA said that a new host would be announced as soon as possible, with the dates of the tournament currently remaining unchanged. FIFA added that potential sanctions against the Football Association of Indonesia (PSSI) might also be decided at a later stage. FIFA did not give any reasons for removing Indonesia as the host of the FIFA U-20 World Cup 2023 and just said “due to the current circumstances.” The draw for the tournament, scheduled on Friday, was canceled due to the governor of Bali’s call to exclude “Israel” from the tournament that will be held in six cities with the participation of 24 teams.

FIFA stressed that despite the decision, it remains committed to actively assisting the PSSI, in close cooperation and with the support of the government of President Widodo, in the transformation process of Indonesian football following the tragedy that occurred in October 2022.

FIFA said that members of the FIFA team would continue to be present in Indonesia in the coming months and would provide the required assistance to the PSSI, under the leadership of President Thohir.

Following FIFA’s decision, President of Indonesia Joko Widodo said that he would send Chairman of the Football Association of Indonesia and former chairman of Inter Milan Erick Thohir to hold talks with FIFA’s officials.

Officials had previously affirmed that the reason behind canceling the draw was the call of Bali’s governor Wayan Koster to exclude “Israel” because of its policy towards Palestinians in a letter directed to the Indonesian Ministry of Youth and Sports last month.

Indonesia suffered one of the worst disasters in the sport’s history that led to the death of 135 people, including more than 40 children, in a stampede last October in Malang, east Java.

Source: Qatar News Agency

Ashghal 10th Ramadan Tournament Kicks off with Over 660 Participants

Ashghal 10th Ramadan Tournament has been kicked off in cooperation with Federations of Football, Basketball and Table Tennis, and Billiards and Snooker.This tournament is the largest ever since more than 660 players will compete in the 6 games of foot…

Ashghal 10th Ramadan Tournament has been kicked off in cooperation with Federations of Football, Basketball and Table Tennis, and Billiards and Snooker.

This tournament is the largest ever since more than 660 players will compete in the 6 games of football, basketball, padel, table tennis, billiard, and video games (play station) in Qatar Sports Club. Ashghal 10th Ramadan tournament will witness the participation of 23 football teams, 18 basketball teams, 42 table tennis players, 20 padel players, 24 competing billiard players, and 20 video game players.

On this occasion, Ashghal’s Public Relations and Communications Department Manager Abdulla Saad Al Saad, affirmed that this tournament is different from previous Ramadan tournament editions organized by Ashghal, explaining that is it the largest due to its many participants from its employees along with various international and local companies.

Public Relations and Communications Department Manager extended his thanks and appreciation to the federations of football, basketball, and table tennis, Qatar Sports Club, and participating companies for their support and contribution to the success of this tournament for its outcome to be in the best possible form, calling on everyone to follow the annual tournament competition.

For his part, Manager of Ashghals 10th Ramadan tournament Hamad Nasser Al Nuaimi said that this year’s tournament would witness significant momentum due to its large number of participants as 660 players will compete in 6 games, which is the largest among Ramadan tournaments organized by Ashghal. For example, 345 players participate in football matches, while 216 participate in basketball matches which will certainly lead the tournament to be high level.

He added that the first day of the tournament would witness 6 games in the first round of football, where 23 teams will participate, divided into 6 groups competing in 40 matches with the top two from each group qualifying for the second round.

Source: Qatar News Agency

FIFA Bans Tottenham Managing Director

FIFA banned of Tottenham Hotspur managing director Fabio Paratici worldwide for alleged false accounting.The decision means that Paratici may have to step down from his position with the London-based club. He is banned in Italy for the same charges, w…

FIFA banned of Tottenham Hotspur managing director Fabio Paratici worldwide for alleged false accounting.

The decision means that Paratici may have to step down from his position with the London-based club. He is banned in Italy for the same charges, which he allegedly engaged in with Juventus.

The 50-year-old Italian held the position of sports and administrative director at Juventus, before joining Tottenham in June 2021.

FIFA said in a statement that “following a request by the Italian FA (FIGC), the chairperson of FIFA disciplinary committee has decided to extend the sanctions imposed by FIGC on several football officials to have worldwide effect.”

Source: Qatar News Agency

Ukrainian President Invites Chinese Counterpart to Visit Kyiv

Ukrainian President Volodymyr Zelensky has invited Chinese President Xi Jinping to visit Kyiv.”We are ready to see him here. I want to speak with him. I had contact with him before full-scale war. But during all this year, more than one year, I didnt …

Ukrainian President Volodymyr Zelensky has invited Chinese President Xi Jinping to visit Kyiv.

“We are ready to see him here. I want to speak with him. I had contact with him before full-scale war. But during all this year, more than one year, I didnt have,” Zelensky said in statements.

Mykhailo Podolyak, an adviser to the head of the President’s Office, said earlier that the preparatory work on organizing a direct conversation between the leaders of Ukraine and China is ongoing and “it has not yet reached any final stage.” The Chinese President visited Russia on March 20-22, after Beijing announced a 12-point plan to settle the Ukrainian crisis. While Moscow welcomed the plan, Kyiv rejected the plan saying that it would only freeze the current situation.

Source: Qatar News Agency

Old Doha Port Inaugurates New Maritime Facility

The Old Doha Port management announced Wednesday the inauguration of a new maritime facility, which will provide its service to visitors and owners of maritime vessels to access the sea from the Doha area and Corniche street easily and smoothly around…

The Old Doha Port management announced Wednesday the inauguration of a new maritime facility, which will provide its service to visitors and owners of maritime vessels to access the sea from the Doha area and Corniche street easily and smoothly around the clock.

Located within the borders of the port, behind Halul Cafe, the new maritime facility constitutes an addition to the recently inaugurated port facilities, as it is considered one of the largest maritime facilities in the State, with two different sea levels to suit various maritime vessel sizes.

The Old Doha Port management announced that the management and operation of the maritime facility would be by a specialized company that was commissioned by the Old Doha Port and would be supervised by the operations and projects department at the port.

Source: Qatar News Agency