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Jordan Signs MoU with Turkey’s Solvest to Explore Gold

Jordan signed a deal with Turkey’s Solvest to explore gold in the Abu Khashiba area in southern Jordan. (Petra news agency)
Jordan signed a deal with Turkey’s Solvest to explore gold in the Abu Khashiba area in southern Jordan. (Petra news agency)
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Jordan Signs MoU with Turkey’s Solvest to Explore Gold

Jordan signed a deal with Turkey’s Solvest to explore gold in the Abu Khashiba area in southern Jordan. (Petra news agency)
Jordan signed a deal with Turkey’s Solvest to explore gold in the Abu Khashiba area in southern Jordan. (Petra news agency)

Jordan signed a memorandum of understanding (MoU) with Turkey’s Solvest to explore gold in the southern Abu Khashiba region, the energy ministry announced.

Energy Minister Saleh Kharabsheh said the 14-month deal is the second signed with the firm. It calls for exploring and mining gold in Abu Khashiba Valley, as part of the ministry’s efforts to bolster the Jordanian mining sector.

Solvest will operate within an area of 155 square kilometers.

Kharabsheh underscored the importance of the agreement in expanding the exploitation of the kingdom’s natural resources to boost the economy and create job opportunities for local communities.

The Ministry signed an MoU with Solvest in April to explore copper in the same area, the minister added.

Kharabsheh signed the MoU with Vice Chairman of the Board of Directors Moin Qadada, representing the Jordanian Integrated Company, and head of Solvest Andrei Borisov.

Chairman of the Jordanian Integrated Company Ziad Manaseer said the company is keen to cooperate with the ministry to support the economy and help reduce unemployment.

Considering the initial results of copper deposits in the region, Manaseer said this project places the Kingdom on the map of global mining investments, stressing that Jordan’s fertile environment and nature reserves are a key part of its progression.

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Saudi Arabia Seeks to Protect Bank Accounts by Monitoring New Methods of Financial Fraud

The Saudi Central Bank continues to monitor new methods of financial fraud in the Kingdom (Asharq Al-Awsat)
The Saudi Central Bank continues to monitor new methods of financial fraud in the Kingdom (Asharq Al-Awsat)
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Saudi Arabia Seeks to Protect Bank Accounts by Monitoring New Methods of Financial Fraud

The Saudi Central Bank continues to monitor new methods of financial fraud in the Kingdom (Asharq Al-Awsat)
The Saudi Central Bank continues to monitor new methods of financial fraud in the Kingdom (Asharq Al-Awsat)

In light of the rapid technical developments the world is witnessing, especially after the Covid-19 pandemic, the Kingdom has been able to safely provide a large number of electronic services, through an integrated system between various government and private agencies.
However, this remarkable development was accompanied by the emergence of new methods of financial fraud, pushing the Saudi Central Bank to put in place counter measures to reduce the new risks.
SAMA talked to Asharq Al-Awsat about its endeavor to constantly develop electronic financial transactions, enhance innovation, and provide customers with easy and safe services, in accordance with best international practices.
The world has recently seen a spread of fraudulent operations using social engineering and exploiting the lack of awareness among individuals to obtain confidential data.
Therefore, SAMA, through periodic follow-up and studies of fraudulent methods, embarked on developing and strengthening controls and instructions that contribute to reducing these risks. The bank has resorted to biometric features to open bank accounts and electronic wallets remotely.
SAMA is also documenting the devices used in accessing electronic banking services for the first time via an online authentication request. Another measure is sending text messages asking for a one-time verification code to the SIM card registered in the customer’s name to complete the electronic financial transaction.
Moreover, SAMA is applying regulatory systems to combat financial fraud using artificial intelligence, as well as developing a special informative guide that is based on three main pillars: prevention, treatment, and response.
The Saudi Central Bank has also launched awareness campaigns and periodic programs to raise the level of awareness among individuals about the dangers of financial fraud and the importance of data protection.
The bank developed a specialized training program in cooperation with the University of Cambridge, with the aim to form national cadres in the field of combating financial fraud.

Caption: The Saudi Central Bank continues to monitor new methods of financial fraud in the Kingdom (Asharq Al-Awsat)