NEWS
Islamic Corporation for development launches the ICD Finnovation Award 2020
5G coverage supports the International Media Centre during G20 Summit
As part of its partnership with the G20
Saudi Secretariat , Saudi-based telco stc Group , has provided its 5G services to the International Media Centre responsible for covering the 2020 G20 Leaders ’ Summit .
In addition , stc has provided its support to all sites dedicated for hosting the Summit ’ s virtual meetings though offering technologies that would enable digital services throughout all G20 Summit meetings to be held under the presidency of the Kingdom of Saudi Arabia .
Majid Al-Qasabi , Acting Minister of Media , has visited stc ’ s pavilion at the International Media Centre , where he was briefed on stc ’ s role in supporting the International Media Centre and providing technical services to participating media professionals .
The Islamic Corporation for the development of the private sector ( ICD ), the private arm of the Islamic Development Bank Group ( IsDBG ), has unveiled the ‘ ICD Finnovation Award 2020 ’, to recognise , showcase and encourage financial institutions that provide outstanding solutions for the financial industry . According to ICD , the special initiative is aimed at exploring more the role of technology and innovation in providing sustainable solutions to current challenges , including those posed by COVID-19 .
‘ Finnovation ’ is an online platform , ‘ www . InnovativeFIs . net ’, which ICD utilises to list and highlight successful innovations of financial institutions ( FIs ) and fintech start-ups at a global level .
Ayman Sejiny , CEO , ICD , said : “ The world is currently experiencing the devastating effects of the Coronavirus ( COVID-19 ) pandemic . Majority of forecasters now expect the world GDP to shrink in the coming years and we believe that part of the solution to overcome the related challenges is through development and design of innovative solutions for businesses and economies , as well as other advanced solutions which can be adopted in banking and other finance services . As a multilateral institution , we need to encourage such innovations .”
The ICD Finnovation Award 2020 invites Financial Institutions in ICD ’ s FIs network in its 55-member countries to submit their proven innovations .
HE Dr Fahd Al-Tunsi , Secretary General of the G20 Saudi Secretariat , said that he valued the significant role and fruitful effort exerted by the Ministry of Communications and Information Technology and its partners in the sector stc Group , during the Kingdom ’ s presidential year , adding that such efforts have led to positive results for all stakeholders .
Eng Nasser Sulaiman Al Nasser , CEO , stc Group , said : “ As a digital enabler , we take pride in our co-operation with the G20 Saudi presidency at this important time for the Kingdom and we look forward to providing all services to enable realising the objectives of this co-operation during the Saudi G20 presidency year .”
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