The Kingdom Holding Company owns total assets of $20.3bn, according to the Forbes Magazine. ‘We are committed to strengthen our position in Indonesia. We have been looking for certain opportunities in the hotel industry that we hope to materialize in coming months,’ said Prince Awalid bin Talal bin Abdulazizal Saud, the world’s 13-richest man





Others said that Indonesia is among the most beautiful multi-faceted and fascinating holiday destinations in the world. It offers beautiful beaches for swimming, trekking tours through spectacular volcanic landscapes, one of the most beautiful golf courts and diving in unique underwater worlds.



Switzerland Opens The Second Islamic Bank

As Islamic finance and banking products continue to grow and attract more clients, Switzerland, a world financial hub, will soon get its second Shariah-compliant bank in less that two years. “There is demand,” Ibrahim Dabdoub, chief executive officer of the National Bank of Kuwait (NBK) which plans to set up the new bank, told the Financial Times.

NBK applied for regulatory approval to set up the bank with a Saudi partner, Dabdoub said. The Islamic institution, set to be launched before the end of year, will target investors and wealthy individuals from the Gulf region, which is currently awash with liquidity fueled by the windfall from unprecedented, sky-high oil prices.




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