Reimagining the Global Economy: The Future of Inclusion
Saudi Arabia - Hosted by Operation HOPE in January in Atlanta (Georgia, USA), the 2016 Hope Global Forums Annual Meeting convened to Reimagine the Global Economy with a focus on 'Inclusive Economics'. Setting forth a goal to outline a solid vision for today's global economy, the meeting connected global leaders and Nobel Prize winners with government officials and the private sector in an effort to assist with the development of successful programs that help youth and the underserved.
Leading the efforts to deliver youth financial literacy in the region with the Riyali financial literacy program, SEDCO Holding Group participated in this fourth edition of the Hope Global Forums.
Amr Banaja - Vice-President, Corporate Communications, Marketing and Corporate Social Responsibility at SEDCO Holding Group served as a panelist on the working group session about 'Global Youth Unemployment'. He pointed out that "companies stand at the forefront and are responsible for demonstrating the potential of sustainable and profitable investment in financial capability. It is imperative for economy practitioners to thoroughly understand how financial inclusion is not only good for individuals, markets and countries, but also a sound business practice." Furthermore he explained that corporate social responsibility and profitability are intertwined: "contributing to the well-being of our society and supporting our communities to self-develop will ultimately underwrite the growth of business and consequently benefit the national economy. It is part of SEDCO's DNA to withstand this mission and we aim to instill this mindset across all our CSR endeavors."
Young people between the ages of 15 and 24 make up 17% of the world population and roughly 40% of the world's unemployed. Youth have high levels of economic energy, but global trends of unemployment and unrest have led to large numbers of the world's young population feeling alienated. Banaja shed light on the urgent need to strengthen and enable youth: "we must revive our economies by enabling the youth and equipping them with the skills they need to succeed. The ideal solution with today's rising economic challenges should reside in finding 'quick wins' that could support inclusive and sustainable growth in the coming years."
John Hope Bryant, Founder, Chairman and CEO of Operation HOPE, the leading non-profit global financial organization, commented "we are pleased to have Amr Banaja join us this year again in Atlanta. The Group's experience always unveils new and intriguing solutions that will benefit many on an international scale."
The three-day Annual Meeting topics covered the new and modern global economy, and demonstrated how community can serve as a call to action to inspire innovation and thought leadership to achieve economic growth and financial stability.
For more information on SEDCO's participation, please visit: hopeglobalforums.org/speakers/
About Operation HOPE, Inc.
Founded in 1992 immediately following the King Riots in Los Angeles, Operation HOPE works to promote financial dignity through financial literacy and education tools in underserved communities. Through its four core portfolios, the organization has provided youth and adult financial literacy, economic preparedness, digital empowerment, promoted home ownership, and assisted with foreclosure prevention to more than 2.2 million individuals, families, and small business owners worldwide.
About SEDCO Holding:
Founded in 1976 by the Bin Mahfouz family, one of the leading banking families in Saudi Arabia, SEDCO has become recognized as a leading Shari'ah-compliant organization, responsible for a diverse spectrum of operating companies in industries such as, real estate development and management, travel and tourism, hospitality, automobile leasing and casual dining, in addition to managing private and public equity holdings in Saudi Arabia and around the world. SEDCO Holding was established to consolidate the various business activities of SEDCO in which the wealth of the Bin Mahfouz family is invested. SEDCO Holding applies the highest standards of corporate governance in accordance with by-laws of international standards that ensure the longevity and growth of the business. Based in Jeddah, SEDCO Holding is headed by a board of directors comprised of eight members, five of which are from outside the family and are chosen from prominent local and international experts. SEDCO Holding is dedicated to responsible and ethical corporate practices through strong leadership and strategies that have enhanced SEDCO's position as a prominent Saudi group with global investments. SEDCO Holding is committed to supporting the welfare and development of individuals and communities across Saudi Arabia and invests in a range of corporate social responsibility activities, recognizing that business success brings a responsibility to contribute to the advancing economic and social development of communities where it has a presence. SEDCO's social responsibility efforts focus on serving its employees, the sectors it operates in, the environment, and the broader community. More information at www.sedco.com
"Riyali", SEDCO Holding's Financial Literacy Program, was launched in 2012 and aims to familiarize members of the community with financial planning and management in order to meet their personal financial responsibilities. "Riyali" aims to educate kids and Saudi youth on financial concepts such as planning, budgeting, saving, investing and borrowing in order to empower them with the personal financial skills required to achieve a desirable standard of living. The program most recently won the Makkah Award for Excellence in 2012.
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© Press Release 2016