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Saudi Arabia’s fourth FII conference will focus on ‘reimagining the global economy’

The Future Investment Initiative Institute (FII-I), will host the fourth annual FII conference in Saudi Arabia this month under the theme of “The Neo-Renaissance”, as thought leaders, policy makers and top government officials discuss reimagining the global economy amid the COVID-19 pandemic.
Yassir al-Rumayyan, governor of Saudi Arabia’s Public Investment Fund (PIF) and chairman of Saudi Aramco, will be among those attending the multi-hub conference, which will be held on January 27-28 at the King Abdul Aziz International Conference Center (KAICC) in Riyadh, with speakers and audiences joining physically and virtually from FII satellites in New York, Paris, Beijing and Mumbai.
Saudi Arabia postponed its fourth FII conference to January 2021 from October 2020 due to global travel issues related to the coronavirus pandemic.
The FII Institute will act as the curator of a global conversation that is needed to spark concrete actions and mobilize cross-border thought leadership, collaboration and resources.
“There has never been a more important time for leaders, investors and policy makers to come together to work towards re-energizing the global economy,” al-Rumayyan said in a statement in the lead up to the conference.
The FII Institute has identified sustainable investment, global economic growth and the future of healthcare, digitization, education and culture as priority topics which concern communities. Sessions will also address the rebirth of SMEs, and how investing in culture can make it an engine of growth to support artists and museums and rectify long-standing gender inequalities.
FII will also address how the sports and entertainment industries can reinvent themselves by combining virtual events and in-person experiences to grow revenue.
Richard Attias, CEO of the FII Institute, said: “The 4th edition of FII will see the most innovative technologies to facilitate global conversations and to be inclusive at the benefit of all of humanity.”
“The FII Institute will act as a catalyst and a pioneer to allow interaction and exchange of disruptive ideas. There has never been a more important time to bring the greatest minds together to harness this opportunity to reimagine our world.”
The Institute was founded in Riyadh to bring together global leaders, tech pioneers, experts and policy makers to enable concrete ideas that can solve today’s most pressing societal issues, while creating long-term platforms to reshape the future of humanity sustainably.
The FII Institute will play a leading role in shaping a much-needed debate about how to respond to crises such as the COVID-19 pandemic.
source: Jennifer Bell
Image source: AFP
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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