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Saudi Companies to Make Parts for Lockheed's THAAD Defense System

According to Lockheed, these contracts will enhance manufacturing capabilities in Saudi Arabia and transfer expertise. (Lockheed website)
According to Lockheed, these contracts will enhance manufacturing capabilities in Saudi Arabia and transfer expertise. (Lockheed website)
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Saudi Companies to Make Parts for Lockheed's THAAD Defense System

According to Lockheed, these contracts will enhance manufacturing capabilities in Saudi Arabia and transfer expertise. (Lockheed website)
According to Lockheed, these contracts will enhance manufacturing capabilities in Saudi Arabia and transfer expertise. (Lockheed website)

US weapons maker Lockheed Martin has signed agreements for Saudi Arabian companies to manufacture parts of its Terminal High Altitude Area Defense (THAAD) system, the company said on Monday.
These sub-contracts will enhance manufacturing capabilities in Saudi Arabia and transfer expertise to strengthen the country’s defense industry, Lockheed said in a statement.
The main conditions of the THAAD defense system purchase agreement, provide for work localization in Saudi Arabia to be in line with the Saudi Vision 2030’s priorities.
Saudi Arabia benefits from these strategies through quality international defense partnerships with Lockheed Martin and with other major manufacturers of innovative equipment that brings common interest for concerned parties.

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Central Bank Chief: Morocco Preparing Law to Allow Cryptocurrencies

Representations of cryptocurrency Bitcoin are seen in this illustration taken November 25, 2024. REUTERS/Dado Ruvic/Illustration
Representations of cryptocurrency Bitcoin are seen in this illustration taken November 25, 2024. REUTERS/Dado Ruvic/Illustration
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Central Bank Chief: Morocco Preparing Law to Allow Cryptocurrencies

Representations of cryptocurrency Bitcoin are seen in this illustration taken November 25, 2024. REUTERS/Dado Ruvic/Illustration
Representations of cryptocurrency Bitcoin are seen in this illustration taken November 25, 2024. REUTERS/Dado Ruvic/Illustration

A draft law on cryptocurrencies is undergoing the process of adoption in Morocco, the governor of its central bank, Abdellatif Jouahri, said on Tuesday.

The central bank, known as Bank Al Maghrib, "has prepared a draft law regulating crypto assets, which is currently in the adoption process," Jouahri told an international conference in Rabat.

Bank Al Maghrib was also exploring a central bank digital currency (CBDC), Reuters quoted him as saying.
"Regarding central bank digital currencies, and like many countries around the world, we are exploring to what extent this new form of currency could contribute to achieving certain public policy objectives, particularly in terms of financial inclusion," he said.