Global Best Practice Discussions on Board Oversight, Internal Audit and Financial Risk at the Central Bank Governance Forum 2019


  • Governance of central banks, emerging challenges and opportunities, and data innovations for the financial sector are key topics to be discussed at an international forum in Dubai
  • Aimed at high-level central bank officials, the forum attracts representatives from about 60 institutions across the globe, bringing expertise and experience from around the world to Dubai



Dubai, United Arab Emirates, 28 January 2019, (AETOSWire): Hawkamah Institute for Corporate Governance and the International Monetary Fund (IMF) are convening a high-level Central Bank Governance Forum in Dubai on January 28-30, 2019.


The 3-day forum will bring together governors and officials of central banks from 47 countries. In its fifth year this year, the forum will focus on board oversight, internal audit functions, financial risk management and data innovations, aimed at central bank officials at the governor and deputy governor level, board members and senior staff with risk management, data and audit responsibilities. A total of about 60 institutions will be participating in the forum, with representatives from central banks and their external auditors, regional and global development and financial institutions from the Middle East, Europe, Africa, Asia Pacific, and the Western Hemisphere.


Dr Ashraf Gamal El Din, CEO of the Hawkamah Institute for Corporate Governance, said, “While corporate governance refers to the ways in which companies are directed, controlled and regulated, we must also examine how governments approach their responsibilities and ensure that the banking systems in their countries are sound. The effective governance of central banks is essential. The 2019 Central Bank Governance Forum is part of Hawkamah’s ongoing focus on the governance of regulators.”


Other topics that will be discussed in this year’s Central Bank Governance Forum include the role of the Central Bank’s board, good practices in terms of board composition, board effectiveness, internal control bodies and the internal audit function in central banks.

Mr. George Kabwe, Division Chief in the IMF Finance Department said, “In response to increasing interest from various central banks, we have added a third day to the forum. We will explore emerging issues facing central banks, including enterprise-wide financial risk management before and after the global financial crisis, lender of last resort operations, data analytics and financial technology (FinTech).”

Established in 2006 to bridge the corporate governance gap in the region, Hawkamah, the Institute for Corporate Governance was founded by the Organisation for Economic Co-operation and Development (OECD), the International Financial Corporation (IFC), the World Bank and other international organisations and by regional organisations including the Union of Arab Banks (UAB) and the Dubai International Financial Centre (DIFC) Authority.

The International Monetary Fund (IMF) works to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth and reduce poverty around the world. Created in 1945, the IMF is governed by and accountable to the 189 countries that make up its near-global membership. The IMF's primary purpose is to ensure the stability of the international monetary system, the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other. The Fund's mandate was updated in 2012 to include all macroeconomic and financial sector issues that affect global stability.

*Source: AETOSWire


EMSCULPT - the body sculpting procedure simulate the effects of 20,000 sit-ups in 30 minutes.

Dubai, United Arab Emirates, 29 January 2019, (AETOSWire): Weight gain is a serious problem in the UAE. While luxurious and sedentary lifestyle are the key factors that drive this condition, EMSCULPT – a body sculpting procedure is being recommended by medical experts to decrease fat thickness and increase muscle density which is now available for the 1st time in Dubai.

A lot of clinical studies for EMSCULPT reported an average 19 percent reduction in fat and a 16 percent increase in muscle mass for the treated area. The study further suggested that the machine uses high-intensity focused electromagnetic technology, which produce high-intensity muscle contractions meant to simulate the effects of 20,000 sit-ups in 30 minutes.

Michael Davis, COO NMC Healthcare, said, “We’re here to let everyone know that as a company, NMC is committed to CosmeSurge and we’re dedicated to the field of aesthetic care. We hold a firm belief that the cosmetics industry in the UAE is something that can only get better and stronger with time. Utilising technology such as EMSCULPT, we intend to continuously provide our customers with safest and the latest the industry has to offer. Our goal is to ensure that the residents of the UAE have access to the best, and can be rest assured that CosmeSurge will surely be at the forefront of bringing innovative technologies witnessed in LA, New York, Paris or London. Bringing EMSCULPT to Dubai is an example of us keeping our commitment to this promise.”

EMSCULPT is a new approach to body shaping category, and is the first and only non-invasive body sculpting procedure for men and women that treat fat and build muscles. It creates a unique electromagnetic field that penetrates the skin to impact the muscle tissue as well as fat.

“Weight gain is a major problem in the UAE and can result in complications, paving way for critical illnesses. Despite the intense workouts at gym, there are certain areas that leave the fat untouched. As such, several patients are opting for EMSCULPT that make them feel stronger and happier” said Lea Debian, Nutritionist of CosmeSurge.

EMSCULPT builds and strengthens muscles and burns belly fat without the time-consuming struggle of exercise. Being the world’s only non-invasive procedure, the technique is not only easy and comfortable, but also requires no recovery time, anaesthesia or needles. While the standard procedure lasts for just 30-minutes, four treatments over a two-week period are recommended, patients generally experience improvement in their body right after the treatment, which continues to improve for several weeks following the treatments.

“While EMSCULPT can be used by any type of patient, the treatment is ideal for women wanting to shed the post-pregnancy fat, or men who have bulging tummies and yet find it difficult to exercise on a daily basis. The supramaximal muscle contractions that EMSCULPT offers is something that can’t be achieved at the gym, which encourages several men and women to undertake this procedure to build muscles,” added Lea.

EMSCULPT is an outstanding treatment procedure for someone who is committed to improving their health. As the procedure offers 92 to 95 percent muscle contraction, it’s a good incentive to maintain good health and wade off illnesses.

About CosmeSurge

Founded in 2002, CosmeSurge is one of the region’s most trusted brands for cosmetic and aesthetic procedures. It offers modern, high quality dermatology and plastic surgery treatments, in addition to dentistry services at fourteen clinics located all across the GCC. In the UAE, CosmeSurge’s clinics are located at Dubai, Sharjah, Abu Dhabi, Al Ain, Ras Al Khaimah, and Fujairah. Outside the UAE, the clinic has its presence across Oman-Muscat, as well as on London’s Harley Street. Continuing its expansion, CosmeSurge aims to forge partnerships with leading experts in Los Angeles and other overseas cities.

While each clinic is staffed with highly qualified plastic surgeons, dermatologists and aestheticians, the state-of-the-art facilities at CosmeSurge provides over sixty cosmetic treatments for different areas of the body.

*Source: AETOSWire


Dubai, United Arab Emirates, 29 January 2019, (AETOSWire): TruDoc 24x7, the MENA’s leading 24x7 Population Health Management Provider, participated at this year’s Arab Health, which took place at the Dubai World Trade Centre, from 28 - 31 January, to showcase their new 24x7 Population Health Management Solution including the 24x7 Virtual Clinic Booth, which allows patients to connect with full-time licensed doctors for reliable medical advice.

The current health care market has reached unmanageable levels, where unnecessary over utilization has led to perpetual increase of medical insurance premiums. In addition to the financial impact, there are serious potential clinical damages due to unnecessary clinical procedures and or medications.

“TruDoc 24x7’s aims to align consumers/employees and payers/employers by having full time doctors who are paid a salary with no incentives and who tell patients what they need not what they can afford through NHS International Guidelines” added Raouf Khalil, CEO & Founder of TruDoc24x7.

After realizing that, in healthcare, virtual services alone aren’t enough to change consumer behavior, TruDoc 24x7 transitioned from its previously recognized brand of Mobile Doctors 24-7, which was a basic telemedicine provider to a comprehensive 24x7 Population Health Management company. This new strategy and whole gamut of entry point solutions has allowed the company stratify its members and ensure they are directed to appropriate level of care as well as avoid unnecessary overutilization, thus achieving the appropriate balance between quality and cost, as it has been concluded that $40 billion of Arab world’s spending on healthcare is wasted.’

According to the American Medical Association ‘70% of non-life-threatening conditions could be resolved by speaking to a doctor over the phone. TruDoc’s 24x7 Population Health Management (PHM) Solution provides members with 24x7 access to comprehensive service solutions for healthy, acute or chronic conditions, whilst they are travelling via its mobile application, at the office through an on-site Virtual Clinic Booths, or at home via a Hospital at Home Program including 24x7 telemonitoring.

The company also provide Chronic Disease Management Programmes for conditions like Diabetes, Hypertension, Hyperlipidemia and Lower Back Pain to name a few along with second opinion service from medical consultants and experts recognized in their fields globally. The company’s PHM ensures the alignment of consumers/employees and payers/employers by informing patients the truth about what they need not what they can afford in accordance to international guidelines. TruDoc 24x7’s doctors are paid a flat salary with no incentives. This is truly a concierge service that actually saves money and ensures the right balance between quality and cost. In addition, TruDoc 24x7 shares the clinical and financial outcome reports along with utilization trends and analytical recommendations for increasing Return on Investment.

*Source: AETOSWire

Sharjah, United Arab Emirates, January 20, 2019, (AETOSWire) -- Crescent Petroleum, the Middle East's first and largest private exploration and production company, has signed a memorandum of understanding (MoU) with the Local Organizing Committee (LOC) for Special Olympics World Games Abu Dhabi 2019 to sponsor the World Games taking place 14-21 March, underscoring its commitment to empowering people of determination and encouraging their inclusion in all aspects of life in line with the Year of Tolerance.

Crescent Petroleum is an Official Supporter of the Games, an has committed to provide financial support as well as volunteers and specialised care workshops for parents of World Games athletes in collaboration with its non-profit sister-organisation, High Hopes Pediatric Therapy Center.

Crescent Petroleum has long supported causes related to people of determination, with a focus on projects that enable people with special needs to develop, progress and live fuller lives. Crescent Petroleum’s sister organisation, High Hopes, is an early intervention paediatric therapy centre based in Dubai that caters to children with special needs up to 14 years old, helping them develop, progress, and lead fuller lives under the supervision of the most experienced and specialised therapists. The not-for-profit centre offers a holistic solution for parents from across the region and regularly holds expert talks, training sessions, and workshops in addition to participating in conferences to build greater awareness of special needs in the region.

“We are proud to be sponsoring the Special Olympics World Games and supporting a cause that is integral to our goals and dear to our hearts,” said Majid Jafar, Chief Executive Officer of Crescent Petroleum. “The empowerment of people with determination is central to our community efforts, and in this, the Year of Tolerance, it is an important initiative to support. We aim our efforts to further the cause of inclusion and help people of determination to become thriving, contributing members of society.”

Under the patronage of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE’s Armed Forces, Special Olympics World Games Abu Dhabi 2019 is an integral part of local, national and regional plans to expand opportunities for people of determination in line with Abu Dhabi and the UAE’s shared vision of a unified and inclusive society.

Khalfan Al Mazrouei, Managing Director of Special Olympics World Games Abu Dhabi 2019, said: “With two months to go, excitement is building across the UAE and across the world as preparations for the World Games reach their closing stages. It is great to have the support of so many organisations across the UAE who together will help us to deliver the biggest and most inspirational event this country has ever hosted.

“Volunteers are the backbone of the Games, and with the support of volunteers from organisations like Crescent we will ensure Abu Dhabi 2019 is an unforgettable experience for thousands of athletes, families and fans from around the world.”

The MoU was signed on the sidelines of Walk Unified, a walk organized by the LOC at Khawaneej Mamsha in Dubai on Tuesday evening. Walk Unified is an inclusive community initiative where people with intellectual disabilities and those without walk alongside each other in celebration of a more unified world.

Special Olympics World Games Abu Dhabi 2019 is the largest sports and humanitarian event in the world this year, welcoming more than 7,500 athletes from 192 nations to the UAE.


About Crescent Petroleum:                                            

Crescent Petroleum is the first and largest private exploration and production company in the Middle East, with over 48 years of experience as an international operator in numerous countries including Egypt, Yemen, Canada, Tunisia, and Argentina, in addition to its continuing operations in the United Arab Emirates and Iraq. 

Headquartered in Sharjah in the UAE, Crescent Petroleum has international offices in the UK and three locations across Iraq, as well as affiliated offices in Egypt and Bahrain. Crescent Petroleum is also the largest shareholder in Dana Gas, the Middle East’s first and largest regional private-sector natural gas company.

About High Hopes Pediatric Therapy Center

High Hopes is an Early Intervention Pediatric Therapy Center based in Dubai that caters to children with special needs from the ages of 0 - 14 years old. It is a place where these very special kids can develop, progress, and also have fun under the supervision of the most experienced and specialized therapists. The not for profit center offers a holistic solution for Dubai parents who would otherwise have to travel to disparate locations to deliver the right combination of service and care for their special needs children.

About Special Olympics World Games Abu Dhabi 2019  

Under the patronage of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE’s Armed Forces, Special Olympics World Games Abu Dhabi 2019 is an integral part of local, national and regional plans to expand opportunities for people of determination in line with Abu Dhabi and the UAE’s shared vision of a unified and inclusive society.

Special Olympics World Games Abu Dhabi will be the largest sports and humanitarian event in the world in 2019. From 14 – 21 March, over 7,500 athletes and 3,000 coaches representing 192 countries will participate in 24 officially sanctioned Olympic-style sports in world-class venues throughout Abu Dhabi.‫ 

The first ever Special Olympics World Games to be held in the Middle East and North Africa will also be the most unified Games in the 50-year history of the Special Olympics movement, with inclusion of people of determination with intellectual disabilities in every aspect of the event. 

For more information on Special Olympics World Games Abu Dhabi 2019, including volunteer and sponsorship opportunities, visit or follow us on Facebook, Instagram and Twitter.

*Source: AETOSWire

Dubai, United Arab Emirates, 20 January 2019, (AETOSWire): Dewan Architects + Engineers has for the 10th consecutive year received top honours from the prestigious UK industry publication Building Design Magazine.


Every year Building Design (BD) surveys the world's biggest architecture practices to create a report that is one of the most respected annual publications in the industry. Coming in at number 45, this is the second consecutive year that Dewan Architects + Engineers features in the top 50 of the list.


As one of the region's leading architectural and engineering consulting firms, Dewan Architects + Engineers is recognised not only for being one of the largest architecture and engineering practises in the Middle East – with key markets in UAE, KSA and Iraq – but also for its extensive work in Europe and Africa, where it is working on hospitality and education projects including hotels for the Kempinski group in Ivory Coast and the Republic of Congo.


Speaking of the firm’s delight at once again making it to the top 50 of the list, Mohamed Al Assam, Founder and Chairman of Dewan Architects + Engineers – who recently scooped the the impressive seventh position on the Middle East Architect Power List 2019 – said: “We are thrilled to receive this recognition for our continued contribution to the architect and engineering industry both within the Middle East and further afield,” he said.


“In order for our industry to thrive – especially when moving into new territories – architecture must be dexterous, compliant and, above all, imaginative. We believe that Dewan Architects + Engineers is amply fulfilling this brief, and it is always a good feeling when other industry professionals recognise this,” he added.


The Big List, which profiles the world's largest architectural practices, is part of an annual survey commissioned by Building Design – a publication widely recognized as architects' number one destination for news, comment and opinion of more than 2,000 firms worldwide, which are evaluated and ranked based on presence in the sector and region, as well as on the number of architects employed.



About Dewan Architects + Engineers


Celebrating 35 years of design excellence, Dewan Architects + Engineers has been at the forefront of the Middle East's booming architectural and engineering design sector for more than three decades. Founder and current Chairman and Managing Director, Mohamed Al Assam, established the inaugural Dewan office in Abu Dhabi in 1984 and successfully completed Dewan's first high-rise commercial project, Baniyas Tower, in 1988, which cemented Dewan's presence as a major player in the regional architectural scene. In 1999, Dewan's Dubai design studio was established, and it has rapidly become a prominent and integral contributor to the emirate's burgeoning and iconic skyline. Dewan further entrenched its leadership market position by establishing new offices in Iraq, Kingdom of Saudi Arabia, Philippines, and Barcelona with plans to further establish offices in SE Asia and Africa. Today Dewan is recognized as a global multi-disciplinary practice, ranked as one of the top three firms regionally, and in the top 50 firms globally as rated by leading industry publications and its peers.

*Source: AETOSWire


TALLINN, Estonia--(BUSINESS WIRE/AETOSWire)-- Gen (ret) Riho Terras who served as the Commander of the Estonian Defence Forces for 7 years and retired in December 2018 joins the team of one of the leading unmanned warfare systems developers Milrem Robotics to head up its Defence Division.

General Terras’ main responsibilities will be establishing Milrem Robotics’ international business development and program support teams, leading the process of gaining a strong foothold in the defence market and bringing end-user specific know-how to company’s strategic R&D activities.

“General Terras’ strong background and experience put him in a good position to grow the company’s international presence and build up our teams worldwide,” explained Kuldar Väärsi, CEO and owner of Milrem Robotics. “Our goal is to be the first choice in every upcoming ground robotics program worldwide,” he added.

“I have gained significant knowledge and built up an international network during my seven years as the CHOD of Estonia and as a member of the Military Committee of NATO and EU. My special fields of interest have been development of disruptive and cyber technologies,” said General Riho Terras.

Gen Terras also worked intensively during the Estonian EU presidency in order to launch Europe’s defence technologies development and PESCO.

“In the last 10 years Estonia has been able to establish a forward looking modern defence industry with ground breaking technologies such as Milrem Robotics’ THeMIS unmanned ground vehicle,” Gen Terras added.

Gen Terras will also be leading the Defence capabilities development in EDIDP program Modular Unmanned Ground Systems (MUGS) led by Milrem Robotics. The project’s objective is to increase situational awareness and force protection of ground units, lighten soldier’s workload, enable faster deployment, increase interoperability and affordability of the ground forces.

In the next five years Milrem Robotics plans to expand significantly. In January Milrem Robotics opened a subsidiary in Sweden in order to engage skilled and experienced engineers.

“The ground robotics market is in the beginning of exponential growth and our products are very well placed. We foresee significant growth of turnover in 2019 and the number of employees will grow from 85 in 2018 to more than 130 this year,” said Kuldar Väärsi.

The company also targets the commercial market (rescue services, border guard, mining and agriculture industries) under the trademark Sinrob (Singular Robotics).

About Milrem Robotics

Milrem Robotics is an Estonian company with the primary focus of manufacturing unmanned ground vehicles, developing robotic warfare solutions and performing concept of operations and doctrine level warfare analysis. Milrem Robotics has partnered up with some of the most distinguished industry leaders such as Lockheed Martin, Raytheon, MBDA, QinetiQ, Nexter, KMW, Diehl Defence, Kongsberg, ST Engineering, FN Herstal, Safran, CNIM, EOS, Tencate etc.

The company’s main product is the THeMIS unmanned ground vehicle that can be used for a variety of defence applications.


*Source: AETOSWire

Dubai, United Arab Emirates, 22 January 2019, (AETOSWire): Most men are ready to grow moustaches, but the fear of spotting a white hair might shun the thought for many. To ensure that white hair doesn’t sap the self-image of the individual, CosmeSurge in Abu Dhabi has introduced an advanced preventive as well as a curative measure against hair whitening.

“It is normal for hair colour to change as people age, but white hair can appear almost any time in life. Even teenagers and people in their early 20s may notice stands of white hair. To ensure that white hair doesn’t embarrass individuals amongst their peers, we’ve introduced an advanced option of laser treatment, the first of its kind in the UAE to wither away white hair,” said Dr Salwa Abo Rashed who serves as a specialist dermatologist at CosmeSurge.

The advanced laser treatment at CosmeSurge is suitable to eliminate white hair from moustache, beard and all other sensitive areas. The procedure is not only safe, but has very little downtime and can permanently shrunk the growth of white hair after 3-4 repeated sessions. The laser treatment uses electrolysis hair removal technique, which pulls out the white hair follicles, making the area free of white stands.

“Over the years, men have become increasingly conscious of their looks, and I would say that eliminating white hair and being well-groomed is the need of the hour. It’s a confidence booster and certainly makes one feel good about themselves,” added Dr Salwa.

Dr Salwa explained that a lot of her patients are men aged between 18-40 who want to look their best, but there are several others who are over 45 and meticulous about how they look. She explained that 10 years ago, men made up 25 percent of patients who opted for cosmetic procedures. Now, they make up around 65 percent. The number of male patients is growing at 2:3 times the rate of women. That is a trend nationwide. In his opinion some of the most popular procedures are liposuction, eyelid tucks, facelifts, hair removal by laser, wrinkle removal and breast reduction. According to Dr Sawla, invasive surgeries are fading out and minimally-invasive procedures now comprise xxx per cent of cosmetic procedures.

“While men are now open to cosmetic procedures, most of them want to opt for non-invasive ones as they don’t want to deal with the downtime and costs associated with surgical procedures. Hence, most of them opt for quick solutions as weight loss contouring CoolSculpting, face-lifts, liquid nose jobs, etc. A lot of them also opt for Vitamins via an Intravenous (IV) Vitamin Infusion,” added Dr Salwa.

It has been noted that Lebanon and the UAE rank first in terms of plastic surgeries performed on men. While there are several factors that drive men to opt for cosmetic procedures, some men also prefer to undergo these new forms of treatments to look glamorous.

“Men typically want to look like younger versions of themselves, but there are several patients who get this procedure aspiring to look like Brad Pitt, Tom Cruise, George Clooney, Ben Affleck and several other popular stars. Many of them are inspired to look the way these celebrities look. However, we always advise our patients what’s the best we can offer as far as a transformation is concerned. This not only sets the expectation well, but also helps them feel satiated after the procedure is complete,” said Dr Salwa.

Dr Salwa said that with most men looking at celebrities for inspiration, the macho mouth is one of the most popular procedures in recent time. The stigma once attached to cosmetic procedures is now disappearing, offering the cosmetic industry a new set of customers.

About CosmeSurge

Founded in 2002, CosmeSurge is one of the region’s most trusted brands for cosmetic and aesthetic procedures. It offers modern, high quality dermatology and plastic surgery treatments, in addition to dentistry services at thirteen clinics located all across the GCC. In the UAE, CosmeSurge’s clinics are located at Dubai, Sharjah, Abu Dhabi, Al Ain, Ras Al Khaimah, and Fujairah. Outside the UAE, the clinic has its presence across Oman-Muscat, as well as on London’s Harley Street. Continuing its expansion, CosmeSurge aims to forge partnerships with leading experts in Los Angeles and other overseas cities.

While each clinic is staffed with highly qualified plastic surgeons, dermatologists and aestheticians, the state-of-the-art facilities at CosmeSurge provides over sixty cosmetic treatments for different areas of the body.

*Source: AETOSWire


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