Aramco Signs MoU to Empower Fishermen in Jazan

Visitors are seen at the Saudi Aramco stand at the Middle East Process Engineering Conference & Exhibition in Manama, Bahrain, October 9, 2016. REUTERS/Hamad I Mohammed/File Photo
Visitors are seen at the Saudi Aramco stand at the Middle East Process Engineering Conference & Exhibition in Manama, Bahrain, October 9, 2016. REUTERS/Hamad I Mohammed/File Photo
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Aramco Signs MoU to Empower Fishermen in Jazan

Visitors are seen at the Saudi Aramco stand at the Middle East Process Engineering Conference & Exhibition in Manama, Bahrain, October 9, 2016. REUTERS/Hamad I Mohammed/File Photo
Visitors are seen at the Saudi Aramco stand at the Middle East Process Engineering Conference & Exhibition in Manama, Bahrain, October 9, 2016. REUTERS/Hamad I Mohammed/File Photo

Saudi Aramco signed on Thursday a memorandum of understanding with Nesma Holding and Albir Society to empower low-income fishermen in Baish, Jazan with required skills and mechanisms to allow them to have a sustainable income.

This falls under Aramco’s initiative entrusted with empowering productive households.

The MoU was signed by Aramco Vice President Nasser al-Nafise, Nesma Holding Co. Chairman Saleh bin Ali al-Turki and Albir Director General Mohammad bin Ali Fakeeh.

Aramco has made this initiative as part of its role in citizenship and to achieve its goals in building and developing local communities. The initiative aims at empowering 50 low-income Saudi fishermen in Baish, Jazan, by providing them with new fishing boats.

Nafise stated that this initiative is in line with Aramco’s citizenship strategy that aims at creating opportunities for nationals and empowering low-income nationals.

Nafise noted that Aramco is joining efforts with its partners Nesma Holding and Albir Society to lay the framework for the prosperous communities in a manner that accomplishes the Saudi Vision 2030 goals.

The initiative reinforces the beneficiaries’ income because it will boost fishing abilities by allowing the new boats to reach distant areas and remain safely for long hours in the sea as well as giving them better chances of catching more fish. It also entails specialized courses to train fishermen and enable them to deal with all circumstances at sea.

The initiative falls under a basket of programs that were launched by Aramco in various regions in the kingdom to empower productive households in local communities.



Watchdog FATF Places Lebanon on Financial Crime Watchlist

People inspect the damage at the site of an overnight Israeli airstrike that targeted Beirut's southern suburbs on October 25, 2024, amid the ongoing war between Israel and Hezbollah. (Photo by AFP)
People inspect the damage at the site of an overnight Israeli airstrike that targeted Beirut's southern suburbs on October 25, 2024, amid the ongoing war between Israel and Hezbollah. (Photo by AFP)
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Watchdog FATF Places Lebanon on Financial Crime Watchlist

People inspect the damage at the site of an overnight Israeli airstrike that targeted Beirut's southern suburbs on October 25, 2024, amid the ongoing war between Israel and Hezbollah. (Photo by AFP)
People inspect the damage at the site of an overnight Israeli airstrike that targeted Beirut's southern suburbs on October 25, 2024, amid the ongoing war between Israel and Hezbollah. (Photo by AFP)

Lebanon has been placed on the so-called "grey list" of countries under special scrutiny by financial crime watchdog FATF, FATF said on Friday.

"Of course we recognize the extreme, grave situation that Lebanon is currently facing," Elisa de Anda Madrazo, the watchdog's president, told journalist.

"Lebanon's status on the grey list should not impede relief efforts ... We are working to make sure that channels of humanitarian aid remain open," she added.

Lebanon has been in a financial crisis since 2019 that has been left to fester by the country's leaders and now faces growing damage from Israeli airstrikes and ground operations against Hezbollah.

Madrazo said Lebanon had been accorded some flexibility regarding deadlines set in its action plan, but did not provide details at the news conference.

A source told Reuters earlier on Friday that the war had led the FATF to give Lebanon until 2026 instead of 2025 to address the issues that led to its grey-listing, including concerns over terrorism financing and a lack of judicial independence.

The grey-listing is likely to further deter investment in Lebanon and could affect the relationship between some Lebanese banks and the global financial system.