News
Kateeb Among Top 50 Most Influential Leaders in Islamic Economy
Mohammed Kateeb, Group Chairman & CEO of Path Solutions, has been named one of the ‘World’s 50 Most Influential Leaders in Islamic Economy in 2018’ in ISLAMICA 500 Guide.
This is Kateeb’s fourth year being nominated for this honor in the most recent list featuring a competitive group of 500 powerful people from 45 different countries, reflecting those making the difference in the Islamic economy space.
Kateeb received his higher education in the United States. He has been the Chairman of Path Solutions since 2008. Under his leadership, the company has experienced exponential growth, and is regularly ranked the ‘World’s Number One Islamic Financial Software Provider’ by leading analyst firms.
Kateeb serves as member of the Board of Trustees of IRTI, an affiliate of the Islamic Development Bank Group (IsDB) that focuses on developing a technology-enabled Islamic financial services sector leveraging state-of-the-art technology to mainstream Islamic economics and finance knowledge.
Only last month, the UK-based leading consulting firm Edbiz Consulting named Kateeb as the 2018 recipient of the ‘Advocacy Award’, for his outstanding accomplishments in Islamic financial advocacy.
Furthermore, Kateeb was selected among the ‘Leaders of Islamic Economy in East Africa in 2018’ by GBS Africa, among other international recognitions. This prestigious nomination track record is unparalleled in this fast-growing industry.
“I’m honored and humbled to be four-time listed alongside such esteemed industry figures”, said Kateeb. “My mission and passion has always been to be an advocate for Islamic finance to help promote financial inclusion and support economic development. The biggest reward is seeing the industry moving forward with tech advancements; it makes it all worthwhile!”
ISLAMICA 500 Guide is a yearly publication of ISFIN, the world’s leading advisory firm for emerging markets. As an independent consultancy firm, ISFIN operates in 75 countries across five continents. The guide provides hard-to-find biographical details for 500 of the world’s most prominent and influential personalities in the Islamic world and economy.
From this list, the top 50 individuals (‘ISLAMICA TOP 50’) who had major impact on the industry were identified based on a set of criteria including innovation, substance, pioneering initiatives, global impact and footprint, ethics and sustainability.
“Again, Kateeb is on the ISLAMICA 500 list of the 50 most influential figures in 2018, for he contributes immensely to the improvement of the Islamic economy. His outstanding reference work records his achievements on a global scale.
“He earned the respect of his peers and become a role model and an inspiration in his field. Congratulations on this well-deserved recognition”, commented Prof. Laurent Marliere, President & CEO of ISFIN and publisher of ISLAMICA 500 Guide.
Kateeb was presented with a certificate during the ISLAMICA 500 Awards Reception on Wednesday 28 November at the Capital Club Bahrain. Earlier that day, Kateeb sat on a panel discussion entitled “How to go global in Islamic finance 2.0. The impact of fintech on the Islamic economy”.
News
Firms Seek Specialized Expertise to Combat AI Cyber Threats – Study Reveals
As concerns about the use of AI in cyberattacks increase, companies worldwide are racing to bolster their cybersecurity strategies, according to a Kaspersky survey.
In a new study the cybersecurity company revealed that 92% of IT and Information Security professionals surveyed in the Middle East, Turkiye and Africa (META) region expect the use of AI by malicious actors to escalate over the next two years.
This growing threat is prompting organisations to prioritise cyber defense expertise, with many turning to cybersecurity vendors for specialised support and training.
In its latest study titled “Cyber defense & AI: Are you ready to protect your organisation?” Kaspersky gathered insights from IT and Information Security professionals across SMEs and large enterprises. The findings underscore the urgent need to prepare for AI-driven cyberattacks.
To combat these evolving threats, companies place high value on cybersecurity expertise, with 94% of respondents in the META region highlighting the importance of growing internal expertise through training for in-house employees, and 93% underscoring the need for external expertise provided by cybersecurity vendors. This need spans sectors from retail to critical infrastructure, emphasising a universal demand for advanced threat protection.
To reinforce their cyber protection, organisations are actively integrating both internal and external expertise. Currently, 36% of companies surveyed in the META region are either implementing or planning to deploy external support to adapt to the evolving threat landscape, while 34% are doing the same through internal training initiatives. Additionally, 61% already use external cybersecurity expertise, and 62% have training programs in place, underscoring a dual approach in fortifying their protection.
Cybersecurity vendors’ expertise can come in various forms, from specialised professional services that help organisations deploy their protection solutions, to advanced expert centers that focus on specific security challenges.
One of these centers is the Kaspersky AI Technology Research Center. It brings together the company’s AI research and development efforts, to deepen the protective capabilities of cybersecurity solutions.
Vladislav Tushkanov, Group Manager at the Kaspersky AI Technology Research Center, says: “Our latest survey shows that businesses are acutely aware of the rising threat from AI-driven cyberattacks and are looking to reinforce their protection through comprehensive solutions, including the use of vendors’ extensive cybersecurity expertise.
The Kaspersky AI Technology Research Center plays a pivotal role by helping us leverage AI advancements to enhance our threat protection strategies and explore innovative ways of using AI in cybersecurity. It also enables us to address security concerns specific to AI itself, ensuring that businesses are prepared for the latest AI-driven threats.”
News
EFCC Dismantles Fake Hotel Review Syndicate, Arrests 105 in Crackdown
Economic and Financial Crimes Commission (EFCC) has dismantled a fake hotel review syndicate and arrested four Chinese nationals and 101 Nigerians for their roles in the elaborate internet fraud scheme.
Victims were allegedly first lured into rating hotels in exchange for small sums of money.
Eventually they would be encouraged to make bookings in any of the rated hotels for as much as $500.
They were told that the company would pay them back with chunky interest into a crypto wallet bearing their names.
However, the victims would in the end not be able to open the wallet.
EFCC announced that the suspects operated out of Naka Hall Plaza on Abutu Garba Street in Gudu, Abuja, where agents recovered 100 compact workstations.
Dele Oyewale, spokesman, EFCC, said the suspects used fake foreign identities to target unsuspecting victims, primarily U.K. residents.
Authorities said the criminal network was allegedly led by the Chinese nationals, who recruited and trained Nigerian youths with advanced technical skills to act as customer service representatives.
These representatives followed a predesigned script to deceive their victims online.
The operation follows a separate crackdown weeks earlier, in which 792 suspects — including 148 Chinese nationals — were arrested for involvement in cryptocurrency and romance scams.
The foreign nationals allegedly used corporate apartments disguised as business centers to train their Nigerian accomplices. These accomplices were reportedly taught to initiate romance and investment scams and use their own identities to carry out fraudulent activities.
The EFCC also highlighted a concerning trend of foreign nationals instructing Nigerians in internet-related crimes.
News
AfDB to Partner LAMATA to Expand Existing Rail System
The African Development Bank (AfDB), has disclosed plans to work with the Lagos Metropolitan Area Transport Authority (LAMATA), to boost the state’s transport system with the development of another rail line.
This was contained in a statement signed by, the Head, Corporate Communication, LAMATA, Mr. Kolawole Ojelabi in Lagos.
Ojelabi said that the AfDB Vice President, Private Sector Infrastructure and Industrialisation, Mr. Solomon Quaynor, gave the assurance during a visit to LAMATA.
He added that the bank was interested in partnering LAMATA to expand the capacity of the existing rail system.
“Quaynor was also in the company of the Non-Sovereign Operations and Private Sector Equity Specialist, Mr Mayowa Ayodele ahead of a visit of the technical team to assess the Purple line,” he said.
The Purple Line is a 60-kilometre railroad along the Redemption Camp in Ogun State, traversing Berger, Agege and Alimosho and terminate at Volkswagen to join the Blue Line.
“The visit follows a recent pitch for investment on 60-kilometre Lagos Rail Mass Transit (LRMT) Purple Line at the African Development Bank forum in Morocco, where the Lagos delegation was led by Governor Babajide Sanwo-Olu.
“This is to further discuss collaboration on the project and other lines outlined in the Lagos Strategic Transport Master Plan. The delegation toured the LRMT Blue Line and expressed satisfaction with the progress of the Blue Line rail system,” he said.
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