1. finance
2. bank

MONDAY, NOVEMBER 17, 2014
LOCAL
KUWAIT: (From left) Hana Al-Razzouqi, Rolf von Rossing and Stephanie Czak address the forum.— Photos by Joseph Shagra
A general view of the audience.
Information security highlighted at cyber world forum
By Nawara Fattahova
KUWAIT: The Central Bank of Kuwait in
cooperation with the Institute of Banking
Studies and the Gulf Cooperation Council
General Secretariat held an information
security forum titled ‘Securing Payments in
the Cyber World’ yesterday at the Jumeirah
Messila Beach Hotel.
The forum highlighted the growing
importance of information security in the
banking and financial industry. It also aims
to raise the awareness of cybersecurity
risks through discussions, presentations,
research and best practices in this field. It
focused on three domains - securing pay-
ment systems, cyber laws and regulations
and the latest researches and trends in
online and e-crime, cyber security and
fraud prevention.
Hana Al-Razzouqi, Executive Director of
the Central Bank’s Information Technology
and Banking Operations Sector, said that
organizing this forum was to protect consumers, governments and the private sector, particularly banking and financial firms
against the increasing threats to payment
systems. “This forum is not focusing on the
media and technologies but on the regulatory aspect, the challenges, and how to
face them,” she pointed out.
She also spoke about joint projects.
“Here, the role of central banks is crucial in
maintaining financial stability, of which
payments systems are considered one of
its main pillars. This is the first time to hold
this forum by the GCC central banks and
will be held annually,” said Razzouqi. “We
also have many joint projects with other
GCC countries such as GCC Net, which
allows using credit cards and debit cards
with same the charges and without any
difference in currency rates. Also, we have
the project of connecting payment systems with high value payments, where the
risk is higher, and this made the information security to be on top of the agenda
and an annual workshop is being held to
exchange experiences and updated information,” she added.
According to her, Kuwait is among the
developed countries in applying protection systems. “The Central Bank is always
issuing strict rules and regulations to
ensure security. Most users here are doing
transactions on their accounts online, as
the situation is safe. Few hacking attempts
were registered, but not all were successful. Our banks are spending a lot on the
protection of their information, and are not
taking any risk,” concluded Razzouqi.
Rolf von Rossing, Member of
Professional Influence and Advocac y
Committee, and the Information Systems
Audit and Control Association (ISACA), outlined the way in which Europe approaches
cybersecurity as a challenge for legislation,
regulation and related governance issues.
He also explained how Europe deals with
cybersecurity from strategic, technical and
operational levels.
Stephanie Czak, Senior Market
Infrastructure Expert, European Central
Bank, spoke about the European experience of innovation and security in retail
payments. She focused on how the eurozone approaches innovation in retail payments from an oversight perspective. She
also highlighted the importance of the
provision of security in these payments.
9th Kuwait-French
expo opens
KUWAIT: The 9th Kuwait-French Expo
started yesterday in the framework of
marking the 50th anniversary of establishing diplomatic relations between
Kuwait and France. The expo runs until
November 20. It is organized by the
International Movement for Leisure
Activities in Science and Technology
(MILSET) in collaboration with French
Embassy.
The expo, which comes in the framework of celebrating the 50th anniversary of setting up Kuwaiti-French diplomatic relations, focuses on the technology of naval communications, including
a series of joint cooperation with a host
of French scientific institutions, said a
statement by the MILSET.
Students of elementary and secondary schools and all French schools in the
country are participating in the five-day
event, which was inaugurated by French
Ambassador Christian Nakhle, it noted.
The statement commended the role
of the developmental and educational
activities sector at Ministry of Education
in urging schools to be present in the
event. The expo, it pointed out, presents
different sciences related to curriculum
and its scientific applications in the field
of technology of naval communications.
According to the statement, the previous expos have achieved many targets that provide students with a lot of
scientific applications and knowledge.
Many national institutions, including
Kuwait National Commission for
Education, Science and Culture, the
naval force of Ministry of Defense and
Public Authority for Applied Education
and Training are participating in the
event. — KUNA
KUWAIT: The organizers in a group photo. — Photo by Yasser Al-Zayyat
TAITRA leads Taiwan trade
mission to Middle East
KUWAIT: French Ambassador Christian Nakhle (center) checks items at the expo.
—KUNA
KUWAIT: Commissioned by the Ministry of
Economic Affairs, the Taiwan External Trade
Development Council (TAITRA) leads a trade
delegation of 20 well-established Taiwanese
suppliers representing various industries to visit Oman (Muscat), Kuwait, Egypt (Cairo) and
UAE (Dubai) from November 11 to 25, 2014.
The purpose of this visit is to facilitate business
cooperation between the 20 Taiwanese delegates and their counterparts in the Middle East.
This trip also aims at furthering trade relations
between Taiwan and the four countries mentioned above.
Having made great strides in strengthening
its major industries, Taiwan is now considered a
technologically advanced manufacturing powerhouse. The nation is home to key manufacturers and suppliers of various products,
including electronics, IT components, semiconductors, photovoltaic applications, car electronics, auto parts, motorcycles, bicycles,
industrial machinery and equipment, and mold
and die work. For this event, TAITRA arranged a
series of trade meetings in each of the above
mentioned countries to give the local buyers a
valuable platform to discuss business with the
participating Taiwanese companies. TAITRA
opened its event in Kuwait yesterday at
Sheraton Hotel, where Taiwanese suppliers
brought the latest products’ information as
well as the most innovative samples with them,
including a variety of auto parts and accessories, hardware and building materials,
machinery, security equipment, baby products,
etc. The range of products presented is as follows:
1- Power and Electrical Machinery/Eq uipment: Planetary reducers, motors, bench
grinders, air compressors, drilling machines,
LED lights, blowers, spot coolers, cables, wires,
connectors, networking accessories., and communication accessories.
2- Consumer Electronics and Electrical
Products: Consumer voice IC: 1. One-time voice
IC, 2. Multi-time voice IC, 3. Extra-long voice IC,
4- instant voice IC 5. Recording voice IC; wireless compact IP camera series, and network
video recorders.
3- Hardware, Hand tool and Building
Materials: Plastic molds, plastic injection, LED,
safety equipment, injection machines; stainless
steel sheets/coils, stainless steel checker plates,
stainless steel perforated sheets, stainless steel
tubes/pipes, galvanized steel sheet coils; fasteners (e.g., screws, bolts, nuts, parts); commercial displays - gondolas, mannequins, display
racks, hangers; gardening/outdoor and sports
products/home wares and DIY; construction
tools, torque wrenches, pneumatic tools, socket wrenches, combination wrenches, and hot
melt guns.
4- Auto Parts and Accessories: Auto parts
(e.g., body parts, engines, electrical supplies,
suspension and other parts) and accessories
(for car interior, exterior, and performance)
5- Hospital, Medical Supplies and
Equipment: Aerobic auto vibrating equipment,
therapeutic equipment, health therapy equipment, therapeutic home furniture; and home
care and bath accessories.
6- Chemical Products and Packing Materials:
Hot-melt adhesives, nonwovens, sticky tapes,
fishing net wire.
7- Machinery: Injection molding machines,
plastic molds, plastid production turnkey solutions.
8- Toys, Baby and Pet Products: Baby
strollers, baby walkers, high chairs, safety gates,
and baby bath products.
9- Textiles, Garments and Accessories:
Buttons, laces, zippers, and buckles, Textile
Fabrics, Garment Accessories Stocks Lots, Dust
and Liquid Filter Bag, Industrial Felt, Synthetic
Felt. Fire Resistant Felt, Fire Resistant Paper, Car
Covers.
10- Computer Software and Peripherals: GIS
platform and tools, digital content and education. network forensics and communications,
smart agriculture and smart energy, eGovernment, etc.