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Abu-Ghazaleh Inaugurates the Launch of the Jordanian Internal Audit Association

HE Dr. Talal Abu-Ghazaleh, chairman of Talal Abu-Ghazaleh Organization (TAG-Org),patronized the ceremony of launching the Jordanian Internal Audit Association, and the seminar on the latest international professional updates in the field of practicing the internal audit profession.

The event took place at the premises of Talal Abu-Ghazaleh Knowledge Forum with the presence of President of Jordan Audit Bureau HE Dr. Mustafa Al Barari, and President of the Association’s Founding Assembly Mr. Hisham Al-Shawa, in addition to a group of stakeholders, accountants, and auditors from various sectors.

Dr. Abu-Ghazaleh stressed that the establishment of the Association is an initiative that emphasizes the importance of the internal audit profession, pointing out the interconnection between internal and external audit, and the need for coordination with the Association in the future through a memorandum of understanding.

He also expressed his gratitude to the Association’s stakeholders for its future impact on the profession, highlighting the significant role played by the President of the Audit Bureau HE Dr. Mustafa Al Barari who developed the profession through his solid standings.

Abu-Ghazaleh added that the development in information and communication technology sector affected the profession which is no longer as it was before and will not remain as it is now explaining that within a maximum period of 20 years there will be internal and external auditor

IN THIS ISSUE:Issue 9October2015

TAG-Tenders Newsletter

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Abu-Ghazaleh Inaugurates the Launch of the Jordanian Internal Audit Association

UNDP and SPARK launch agri-business project in Yemen

Talal Abu-Ghazaleh Foundation and the Supreme Council of Science and Technology Sign MoU towards Building a Scientific and Technological National Standard Base

EBRD launches Women in Business programme in Egypt

Talal Abu-Ghazaleh Organization and the Association of Banks in Jordan Sign MoU

IDB and World Bank Chiefs Ink a Historic Partnership Deal

China to offer new humanitarian aid for Middle East

Talal Abu-Ghazaleh Organization and the Euro- Mediterranean- Arab Association Sign Agreement

U.S. Contributes $45 million Towards New Entrepreneurship and Employment Programs

Jordan Customs and AGIP Sign MoU in the Field of Intellectual Property

Upcoming Business Opportunities

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in a new form: a “technical auditor”. This is because anything that relates to the profession will be applied through information technology.

According to the expectations of HE, the future of the internal audit would be better if the firms become aware and convinced of the importance of contracting with internal auditors, whether they were employees of the company or through outsourcing firms.

For his part, HE Dr. Al Barari expressed his profound thanks to the Excellency of Dr. Talal Abu Ghazaleh for his continuous support to this profession and its professionals, at the local, Arab and International levels through his Organization that served the local, Arab and international economy.

He also stressed that the establishment of the Association had become an urgent need to have a professional body that would mobilize efforts in the field of internal and external audit due to profession’s critical role and significant impact on the economy as it represents the first line of defense in preserving public funds and corporations’ assets, decisions, governance and progress in the right track as per the vision of His Majesty King Abdulla II, may Allah bless and protect him.

He also promised that memorandums of understanding will be signed with the Association to train the government servants through the Arab Jordanian Institute of Internal Auditors.

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The Assembly’s President Mr. Hisham Al-Shawa revealed that the idea of establishing the Association as a professional organization to represent the profession of internal audit and to work on promoting it started as an initiative by a group of young professionals who were aware of its importance and by believers in its mission to become home for all workers in internal audit, internal control, good governance and risk management.

He also pointed out that the importance of the Association lies in the fact that it works on supporting and developing the profession of internal audit though all means in order to achieve the effective development and high quality in the business and economy sector in Jordan in line with the vision of HM King Abdulla II.

He explained that the Association will organize the First Jordanian Internal Audit Conference in 2016, which will be the first of its kind in Jordan, and will enjoy a regional and international attendance in order to exchange experiences and stand on the latest developments in the profession.

During the ceremony, President of the Association Mr. Hisham Al-Shawa presented memorial shields to the ceremony patron HE Dr. Talal Abu Ghazaleh and the President of the Audit Bureau and the ceremony’s guest HE Dr. Mustafa Al Barari.

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As the conflict in Yemen continues to displace large numbers of people, an economic blockade has resulted in shortages in fuel and other goods, severely crippling Yemen’s economy. This has not only exacerbated food insecurity and soaring unemployment, especially among youth, but has impacted years of development progress.

The U.N. Development Programme (UNDP) and SPARK – an organization that educates and empowers young people in societies affected by conflict – have launched a project that aims to enhance economic opportunities, as well as food security, for over 1,900 people in the governorate of Taizz, in the Yemeni highlands.

The Agri-Business Creation (ABC) project provides vocational training in business management to 230 vulnerable youth from this war-affected region. Rasha Al-Shargabi, UNDP’s Taizz field manager, explains that the project will also teach young people agricultural skills, such as harvesting water and drip irrigation, which will enable them to make a profit while supporting their community’s food needs.

“I have always dreamed to have my own project. Jobs are rare in the rural areas. I cannot believe that I have this opportunity, at this time and during these difficult circumstances,” says 28-year-old Fusran Yousif, one of the participants.“Finally, I will be able to fulfill my dream to open a beekeeping farm and produce honey.”

The programme is part of UNDP’s wider efforts to strengthen the resilience of conflict-affected communities in Yemen. Since March 2015, UNDP has supported more than 417,704 people directly or indirectly through its emergency livelihoods response activities, including emergency employment initiatives and skills trainings to promote social businesses.

“These projects will improve the standard of living for a vast number of young people and provide them with the necessary skills and training. In adopting particular working methods, the partnership between public and private sectors, and civil society institutions, will be further enhanced,” says Mr. Fahmi, the head of the Community Participation Department for Ash Shamayteen’s local council.

Youth have also started to clean streets and public infrastructure in Hajjah, Sana’a and Aden to support their communities with waste management. In Taizz, midwife training initiatives provide care to more than 8000 people in the community.

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UNDP and SPARK launch agri-business project in Yemen

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Talal Abu-Ghazaleh Foundation and the Supreme Council of Science and Technology Sign MoU towards Building a Scientific and Technological National Standard Base

Talal Abu-Ghazaleh Foundation for Development (TAG Foundation) and the Supreme Council of Science and Technology signed a Memorandum of Understanding aiming towards increasing awareness in regards to the importance of Scientific Research and Development.

The MoU signed at the Talal Abu-Ghazaleh University headquarters aims for cooperation among both parties in order to help the talented and the innovators expand their ideas precluding the conversion of these ideas into productive and developmental projects; while marketing the outcomes of their work and researches through establishing ties between the innovative individuals and potential investors or businessmen.

Through the Memorandum, both sides seek to deliver joint research projects to international parties in different areas such as energy, water, nutrition, health, environment and so on. In addition to transfer technology to the Kingdom through benefitting from expertise and experience of developed countries and the services which both parties can deliver whenever possible. The preparation of domestic and foreign conferences related to the areas of science and technology will also take place.

During the signing ceremony, HE Dr. Talal Abu-Ghazaleh stressed on the significance of the availability of a concerned entity related to innovations and innovators since the

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core tool of wealth is knowledge; indicating that what we produce today constitutes the future of Jordan as there is no future without creativity.

Talal Abu-Ghazaleh Organization further expressed its readiness for cooperation and service to the council in addition to its president: His Royal Highness Prince Al Hassan Bin Talal through all potential and expertise of the Organization affirming that everyone is present here to serve the country.

His Excellency moreover denoted the significance of the availability of one main entity to include all other concerned stakeholders entitled to innovation. The aim of this is to gather optimum effort in this field with focus on awareness about the importance of investment in innovation and innovators. It is vital to create the culture of innovation among youth, especially the digital innovation which owns the future in all fields. This can be done through allotting awards in digital innovation.

His Excellency also called for an annual exhibition for the innovators to display their innovations and market them through linking these innovators with investors to convert these creative ideas into real products since there is no current existing mechanism to link those two parties with each other.

His Excellency furthermore highlighted the significance of reissuing the report of competitiveness to reveal the current situation which encourages development, innovation and competitiveness indicating the availability of the Organization’s expertise in the assistance in regards to reliance on international standards in reporting.

For his part, Secretary General of the Supreme Council for Science and Technology Dr. Khaled Alshraideh affirmed the presence of a large intersection in work between the Council and the Organization, directing many thanks to His Excellency Dr. Talal Abu-Ghazaleh on the mechanics of the proposed co-operation.

Dr. Alshraideh expressed that since science and innovation are always connected; the Council always tries through various programs, initiatives and projects to fulfill the supreme royal directions in improving the current situation and developing it in the fields of creativity, innovation and knowledge.

It was also pointed out that the National Council for Competitiveness and Innovation whose mission was to work in the long term and short term, are making decisions to improve the status of the sector in the short term. While on the long term, they develop strategies for creativity through institutionalizing the sector by establishing a national center for the development of creativity.

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Dr. Alshraideh welcomed the proposals of HE Dr. Abu-Ghazaleh, especially with regard to the announcement of the award along the lines of Prince Alhassan Award for Scientific Excellence, but more specialized in innovative knowledge while organizing an annual exhibition for innovators; stressing the importance of partnerships with the concerned bodies of stakeholders for the support and participation.

The two parties discussed ways to develop areas of cooperation through finding international partners to support the projects and plans that the two parties seek to implement in order to support and develop creative product innovations which will shape the future of Jordan.

Supreme Council of Science and Technology:A public institution, financially and administratively independent, chaired by His Royal Highness Prince El Hassan bin Talal aiming at building a scientific base and national technology contributing to achieving economic, social and cultural goals in the Kingdom through initiating responsibilities and tasks that include placing policies and scientific, technological and innovative strategies while planning to achieve its goals to provide financial support for Research and Development activities. Furthermore, directing scientific activity and research within the national priorities consistent with the developmental trends is a duty. Ultimately, the establishment of appropriate research centers whenever the need arises and the representation of the Kingdom in the scientific and technological activities, Arab and regional and international levels is a responsibility.

Talal Abu-Ghazaleh Foundation for Development:Not-for-profit and developmental organization with a sustainable focus on social and economic development initiatives to contribute to building the capacity of individuals and upgrading of Arab communities while focusing on the significant role of education and capacity building, and in particular in the field of information and communication technology, in addition to supporting the creative capabilities of young people to reduce the social and economic problems.


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EBRD launches Women in Business programme in Egypt

The European Bank for Reconstruction and Development (EBRD) has teamed up with Egypt’s largest commercial bank to launch a Women in Business (WIB) programme aimed at strengthening the role of female entrepreneurs in the Egyptian economy.

This programme is being launched in collaboration with the National Bank of Egypt (NBE), providing a comprehensive package of financial and technical support for Egyptian women who are either starting up or expanding their companies.

This collaboration expands on earlier work the two banks have done together in supporting women entrepreneurs in Egypt – in 2014 the EBRD provided a credit line of US$ 20 million to NBE for on-lending to women-run businesses.

Under the programme, the EBRD’s financial support will be bolstered by the delivery of technical support, including

tailored advice and training funded by the EU Neighbourhood Investment Facility, the SEMED Multi-Donor Account* and the SEMED Cooperation Funds Account. This will increase the know-how and networking opportunities for women entrepreneurs.

Philip ter Woort, EBRD Director for Egypt, said: “Support and development of women entrepreneurs has the potential to be an important driver of growth for Egypt and result in a more inclusive and sustainable economy, which is one of the EBRD’s priorities. We are very happy to be launching this Women in Business programme with our partner NBE which will contribute to achieving this objective.”

Mahmoud Montaser, NBE Vice Chairman, said: “Both EBRD and NBE have worked together on this programme with consultants from Frankfurt School of Finance and Management (FSFM), analysing both market and NBE data to make it as useful and supportive as possible. I would like to thank the EBRD teams in Cairo and London and FSFM for their efforts.”

The EBRD has invested in excess of €1 billion in Egypt through 27 projects (including regional) since the start of its activities in the country at the end of 2012. The Bank’s investments include the financial sector, agribusiness, manufacturing and services as well as infrastructure projects such as power, municipal water and wastewater and contributions to the upgrade of transport services.

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Talal Abu-Ghazaleh Organization and the Association of Banks in Jordan Sign MoU

Talal Abu-Ghazaleh Organization (TAG-Org) and the Association of Banks in Jordan (ABJ) signed a Memorandum of Understanding (MoU) to support TAG-Org’s refurbished computers project and distribute them to the least developed areas.

On behalf of HE Dr. Talal Abu-Ghazaleh, the MoU was signed by Mr. Salah Abu Osbeh, TAG-Org executive director and by Mr. Adli Qandah, ABJ general director.

According to the MoU, both parties shall cooperate in the refurbishment of computers as TAG-Org has previously initiated this project which aims at activating and utilizing old computers for educational purposes. The refurbished computers will be distributed to charitable societies and development centers in the least developed areas

in coordination with members of the Association.

Mr. Abu Osbeh stated that this initiative aims to change the culture of the society with regard to information technology in a mechanism to be transformed into knowledge based societies, noting that TAG-Org has established more than 60 knowledge centers in different areas throughout the Kingdom.

He pointed out that in the first phase of the project in 2010 around 1500 computers have been refurbished and distributed to schools and non-government societies, adding that this initiative is conducted upon the directives of HE Dr. Talal Abu-Ghazaleh which he adopted out of his belief of the need to provide a computer for every individual to promote knowledge culture amongst all categories.

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For his part, Dr. Qandah explained that signing the MoU with the Organization fulfills the operational banks’ belief in the necessity to assume its corporate social responsibility in Jordan.

According to the Memorandum, the banks shall provide old and used computers to TAG-Org which in return will conduct the refurbishment process in order to distribute them to charitable entities in the Kingdom.

He also said that it’s anticipated that this initiative will have good impact on the national level as it contributes to the decrease of digital illiteracy and increases the number of citizens who own computer devices mainly as the percentage of Jordanian families that own personal computers doesn’t exceed 36% according to official statistics.

In conformity with the MoU, the Association will address all the banks in the Kingdom to provide the used computers to TAG-Org in order to be refurbished and distributed to those who need them while the Association and its members will not bear any financial costs.

Moreover, the TAG-Org’s computers refurbishment project seeks to increase the number of knowledge centers, where it started with the Jerash Camp, transforming the camp accordingly into a “knowledge camp” by training the young people there to conduct the refurbishment works and another center was established at Zarqa University for the same purpose.

About Talal Abu-Ghazaleh OrganizationThe Talal Abu-Ghazaleh Organization (TAG-Org) is the largest Arab group of professional service firms in the fields of accounting; external audit; internal

audit; corporate governance; taxation; educational consultancy; economic and strategic studies; management advisory services; professional and technical training; technology transfer; project management; real estate management; investors and business advisory; human resources and recruitment; e-government; e-commerce; e-education; information technology (IT), security audit; web mastering and web design; professional interpretation and translation; website arabization; domain names registration; information and communication technology (ICT) strategic planning; ERP consulting; IT and Internet skills training and examinations; Intellectual Property (IP) news agency; IP business, asset valuation and branding; IP registration and protection; IP renewals; IP rights protection and management; legal services; and public offering.

About the Association of Banks in JordanThe Association of Banks in Jordan (ABJ) was established in November 1978 and registered at that time as an ordinary association in accordance with the provisions of the Societies and Social Charities law number (33) for the year 1966 and its amendments.

In 2000, the Banking Law number (28) was issued, whereof Article 95 stipulated the creation of an association named the Association of Banks. By virtue of this law, the association’s new bylaws number (35) of 2005 was issued on March 29, 2006, hence becoming an association pursuant to the Banking Law.

The association is currently a member of the Union of Arab Banks.

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The Islamic Development Bank (IDB) Group and the World Bank Group have announced a historic strategic partnership agreement to significantly scale-up joint work and investment across the 56 IDB Group member countries in Asia, Africa, Europe and South America that are also members of the World Bank.

The two leading development finance institutions expect co-financing work to reach $9 billion over the next 3 years. Joint work will support infrastructure services, regional integration and cross-border trade facilitation, water and food security, education and employment, and Islamic finance.

The IDB Group and the World Bank Group also agreed to join forces to support private sector development and entrepreneurship in common member countries, as well as support to the growing number of fragile and conflict-affected countries.

This historic agreement comes on the heels of a joint initiative launched by the World Bank Group President, the United Nations Secretary General and the IDB Group President at an international gathering of donors held on 10 October 2015 in Lima, Peru, where a number of donor countries agreed to scale-up financial support to Arab countries going through transition and unrest.

The partnership agreement was signed by IDB Group President, Dr. Ahmad Mohamed Ali and World Bank Group President, Jim Yong Kim. “Our new partnership is a natural evolution in

our long-standing relationship with the World Bank Group and is most timely given the growing challenges facing our member countries”, said Dr. Ali.

The partnership agreement stems from a shared commitment by both institutions to reducing poverty, boosting shared prosperity, fostering economic development, and promoting social progress across their common membership and beyond, and to supporting the recently adopted United Nations 2030 Sustainable Development Goals.

“We have definitely set for ourselves an ambitious partnership agenda because business-as-usual is not really an option. I am highly confident that both institutions will work diligently to deliver on development promises building on each other’s comparative advantages and strengths to unleashing the synergy that this strategic partnership can bring to our member countries”, observed Dr. Ali during the signing ceremony held at the World Bank Group headquarters in Washington DC in presence of thesenior management and officials from both institutions.

Past co-financing between the IDB Group and the World Bank Group totaled over US $7 billion and targeted 72 projects, primarily the infrastructure sector, in 26 common member countries in Africa and Asia.



IDB and World Bank Chiefs Ink a Historic Partnership Deal

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China will offer new aid to relieve the humanitarian crisis in the Middle East, Chinese Deputy Foreign Minister Wang Chao said on Tuesday.

At a press briefing about President Xi Jinping’s coming visit to Britain, Wang said that China has paid great attention to the refugee issue in the region, Xinhua reported.

He said since the current turbulence emerged in the Middle East, China has provided a total of 375 million yuan ($54.9 million) in humanitarian aid to the region.

As the humanitarian situation in the region has become increasingly grim, China will accelerate distribution of the humanitarian aid that it has announced for West Asia and North Africa region by the end of the year. In addition, China will offer new aid for the region, Wang said.

Wang said these assistance measures will help Middle Eastern countries improve their ability to accommodate refugees and help reduce the flow of refugees.

He said that during President Xi’s visit to Britain, the two sides will exchange views on regional and international issues of common concern. He said China and Britain have maintained sound communication on regional and international issues over the long term. The two countries have played a constructive role in addressing the Ebola epidemic and the Iranian nuclear and South Sudan issues.

“China-Britain relations have surpassed the bilateral scope and adopted strategic significance and global influence,” Wang said.

He said that given the complex international situation and growing global challenges, China and Britain will cooperate to promote world economic growth, address global security challenges and reform global governance.



China to offer new humanitarian aid for Middle East

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Talal Abu-Ghazaleh Organization and the Euro- Mediterranean- Arab Association Sign Agreement

The Annual Meeting of the Euro- Mediterranean- Arab Association (EMA) witnessed the signing ceremony of a strategic partnership agreement with Talal Abu-Ghazaleh Organization (TAG-Org) during which TAG-Org also received an appreciation certificate for its efforts in supporting the Arab- European economic cooperation.

The meeting was chaired by HE Mr. Christian Wulff , the former president of the Republic of Germany and the attendance of the Mayor of Cologne HE Mr. Ralph Hainan.

In his speech, HE Dr. Talal Abu-Ghazaleh announced the establishment of a regional office for EMA in the offices of TAG-Org in Amman as well as a program to organize a diplomatic forum in capitals of the Arab countries, where ambassadors of the Arab and European countries can discuss topics of economic and social cooperation.

Based on this partnership, Dr. Abu-Ghazaleh welcomed the cooperation to establish German schools in the Arab countries as the pattern of American, British and French schools.

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As well, he highlighted the position of Germany towards refugees from the region reminding that Germany hosted, in the year 1946, approximately 10 million refugees, as a consequence of the World War, and was able to give an example for positive and constructive capacity.

Dr. Abu-Ghazaleh added, while we study, at the international level, the targets of development after 2015 (after the millennium goals) we must add the objective of asylum, based on the feeling of international responsibility for the causes of asylum and the advantages for host countries, as proved by the German experience.

He concluded by mentioning that the region is passing through a phase similar to the dark ages Europe lived in the past and will emerge from this phase as Europe emerged to the renaissance era.


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The U.S. Embassy announced an investment of $45 million in two new programs that will promote small businesses in Egypt and train students to help them successfully compete for jobs. Provided through the Agency for International Development (USAID) in partnership with the Ministry of International Cooperation, the new programs seek to fulfill the needs of thousands of entrepreneurs and vocational school students over a four-year period.

The “Strengthening Entrepreneurship and Enterprise Development” (SEED) program will receive funding of $22.9 million. Over the coming four years, SEED will provide technical assistance to small businesses throughout Egypt to help them qualify and gain access to bank loans, develop new business ideas, and conduct market research. Aligned with the Government of Egypt’s economic growth strategy, SEED will benefit a number of business sectors, especially woman-owned small businesses and sectors that can potentially employ large numbers of women and youth.

The remaining $22.1 million will fund a new educational program called “Workforce Improvement and Skills Enhancement” (WISE). This program will support quality education at Egyptian vocational schools, especially by partnering with manufacturing and service companies to develop the technical skills of students and future job-seekers.

SEED and WISE are part of a comprehensive package of technical assistance designed to stimulate job creation, economic recovery, private sector business growth, and a stronger trade and investment environment throughout Egypt. Over the past three years, USAID activities in Egypt have led to new or better full-time employment for over 40,000 Egyptians and to the creation of an additional 20,00 short-term jobs. Since 1975, the U.S. has contributed nearly $30 billion in economic assistance to Egypt.

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U.S. Contributes $45 million Towards New Entrepreneurship and Employment Programs

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Jordan Customs and AGIP Sign MoU in the Field of Intellectual Property

Jordan Customs and Abu-Ghazaleh Intellectual Property (AGIP), a member of Talal Abu-Ghazaleh Organization (TAG-Org) signed a Memorandum of Understanding (MoU) in the field of Intellectual Property protection in a special ceremony held at Talal Abu-Ghazaleh Forum.

According to the MoU signed by Major General Munther Al Assaf, director general of the Customs Department and HE Dr. Talal Abu-Ghazaleh, chairman of TAG-Org, the two parties will cooperate in the development of activities and ways of Intellectual Property protection to create a rich environment for investment in the Kingdom and to activate Intellectual Property protection services to protect trademark owners against the entry of any fake products similar to their trademarks.

Al Assaf said that Jordan Customs is the concerned authority to take border measures to protect intellectual property rights of any infringements whether by importing counterfeit goods or those that carry signs or logos identical or similar to trademarks protected by law in the country through any of the customs crossings, stating that Abu-Ghazaleh Intellectual Property is one of the most important companies in

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the filing and protection of trademarks in general in the Kingdom and other Arab countries.

The two parties seek to cooperate through this MoU in the protection of Intellectual Property with the aim of primarily protecting consumers from commercial fraud and the preservation of their assets and ensure the purchase of original goods.

Meanwhile, Dr. Abu-Ghazaleh said that one of the key objectives for signing the MoU is that it allows AGIP to submit a registration application to the Customs Department which includes all trademarks of its clients to protect their rights from any infringement by any person as prescribed to them under applicable laws.

It is worth noting that the Customs Act since 2000 includes an article that allows Customs to exercise its role in the protection of Intellectual Property Rights, as has been the establishment of a special department of Intellectual Property since 2007, in addition to a draft amendment law to activate its role in the protection of Intellectual Property Rights.

Abu-Ghazaleh Intellectual Property organizes and sponsors training courses, in coordination with the World Intellectual Property Organization and the Arab Society for Intellectual Property and the World Trade Organization, and publishes many references in the field of IP in the Arab world, including the collection of the English translation of all Arab IP laws, and the deployment of a major glossary on Intellectual Property.


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Upcoming Business Opportunities

Country Funding Agency Project Deadline

Kazakhstan, Kyrgyz Republic

WB - World Bank Central Asia Hydrometeorology Modernization Program

14 December 2015

Algeria EC - European Commission

Algeria-Algiers: ENPI — Technical assistance for the chief operating officer of the programme to support sustainable local development and social activities in north-west Algeria (ATA PADSEL-NOA)

15 December 2015

Afghanistan DFID - Department for International Development

Independent Auditor (IA) for the Comprehensive Agriculture and Rural Development Facility (CARD-F) Phase 2

7 January 2016

Tanzania WB - World Bank Regional Communication Infrastructure and e-Government Project (RCIP Tanzania)

8 January 2016

Kosovo EC - European Commission

Kosovo-Pristina: IPA — Supply of ICT equipment, supplies and consumables for the schools and educational institutions

18 January 2016

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