ThamerAl-Haddad, Chief Editor
Noufal, Diaa, Ahmed, Fahad, Contributing Editor
Wow! This is about the best word I could find to describe this powerful and overwhelming session!
The deep sophisticated in which the speech on macroeconomics was given by the great Dr. Alan Greenspan, the former Chairman of The Board of Governors of The Federal reserve of the United States, provided the audience with a wealth of information (even though it was pretty complex).
The Nobel Peace Prize Recipient, Professor Muhammed Yunus, who gave one of JEF 2008's most inspiring and powerful speech. Surely, I will never forget his words, coming from a very modest person who earned a standing ovation from the audience (which witnessed some tear shedding as well).
Our very own Fahad with Dr. Yunis
Or all the other interesting speakers with their amazing facts and statistics that have generously been enlightening.
Let me just try to summarize due to the ton of information given in this session.
The session started with Dr. Alan Greenspan who was introduced by Dr. Mohammed Al-Jasser, Vice governor of SAMA.
Dr. Alan mentioned that resources are very important to every nation, and Saudi Arabia is dominated by a huge resource oil. However, unless the oil boom goes on forever (maybe), other resources that create wealth and enhances economic growth. But, he advised it does require that risks have to be taken.
Commenting about the currency, he said that what’s critical component about the rise of currency for KSA is that non-oil products are going to have a very hard time competing world wide.
Dr.Allen concluded his part of the session by stressing the importance of economical growth.
My colleague Fahad got some comments from a guy in the audience, Mr. Umar Abdulsalam of the English language service of Radio Jeddah. He said that the economy must include income producing channels from the young students and graduates from the universities. Mr. Umar was also was impressed with the JEF 2008 attendance of more young students and young business men and women than previous years.
Dr. Mohammed Al-Jassar took the stage after that and discussed a little about macroeconomic framework and how boom itself cannot achieve authority.
Following him was Mr. Jim O’neil, of Goldman Sachs. He talked about some interesting statistics on world economy and how he predicts it would be like in 2050.
During the tea break (after Mr. O'neil speech) I met up with the team from What’s up Jeddah magazine. I asked about how they found the forum this year. They complimented the organizing committee and how big the place was in comparison to last year.
Anyways, when we got back to the next session, Mr. David Lewis the Lord Mayor of London talked briefly about the concepts of prosperity which from his own personal view were:
Diversification, Education, Innovation and partnership.
And at last but not least, Professor Mohammed Yunus, Grameen Bank founder stepped up. His speech was tremendously amazing. He reached the hearts of everyone in the crowd.
Professor Mohammed started off by explaining how Grameen Bank was founded. He talked about the method he used to run his bank. He examined the way conventional banks regulations and rules and then he simply did the opposite! (The hall was filled with laughter).
He said that the society has to give poor people a chance or else the society itself is responsible for poverty.
He also issued that there should be two kinds of businesses. Business to make money and businesses that are dedicated to helping others.
He mentioned that charity dollars never come back and die right away, but social dollars have endless lives.
His main goal is to make poverty forgotten all around the world and by that he doesn’t mean the third world only. He joked that he wants to put the word poverty in a museum for future generations to see.
I think this is the best speech of JEF 2008 so far. I couldn’t stop overhearing another guy passing right by me saying that he heard about Professor Mohammed before, but he didn’t know realize how fascinating he was. I was touched just like many of the other people in this hall were.
I think this session really set a high standard for all the other sessions to beat. For those of you who missed this session, you really missed out on a lot of excitement.
Stay tuned for the next blogs form my very hard working colleagues.
But until then . . .
Sayonara!
Noufal, Diaa, Ahmed, Fahad, Contributing Editor
Wow! This is about the best word I could find to describe this powerful and overwhelming session!
The deep sophisticated in which the speech on macroeconomics was given by the great Dr. Alan Greenspan, the former Chairman of The Board of Governors of The Federal reserve of the United States, provided the audience with a wealth of information (even though it was pretty complex).
The Nobel Peace Prize Recipient, Professor Muhammed Yunus, who gave one of JEF 2008's most inspiring and powerful speech. Surely, I will never forget his words, coming from a very modest person who earned a standing ovation from the audience (which witnessed some tear shedding as well).
Our very own Fahad with Dr. Yunis
Or all the other interesting speakers with their amazing facts and statistics that have generously been enlightening.
Let me just try to summarize due to the ton of information given in this session.
The session started with Dr. Alan Greenspan who was introduced by Dr. Mohammed Al-Jasser, Vice governor of SAMA.
Dr. Alan mentioned that resources are very important to every nation, and Saudi Arabia is dominated by a huge resource oil. However, unless the oil boom goes on forever (maybe), other resources that create wealth and enhances economic growth. But, he advised it does require that risks have to be taken.
Commenting about the currency, he said that what’s critical component about the rise of currency for KSA is that non-oil products are going to have a very hard time competing world wide.
Dr.Allen concluded his part of the session by stressing the importance of economical growth.
My colleague Fahad got some comments from a guy in the audience, Mr. Umar Abdulsalam of the English language service of Radio Jeddah. He said that the economy must include income producing channels from the young students and graduates from the universities. Mr. Umar was also was impressed with the JEF 2008 attendance of more young students and young business men and women than previous years.
Dr. Mohammed Al-Jassar took the stage after that and discussed a little about macroeconomic framework and how boom itself cannot achieve authority.
Following him was Mr. Jim O’neil, of Goldman Sachs. He talked about some interesting statistics on world economy and how he predicts it would be like in 2050.
During the tea break (after Mr. O'neil speech) I met up with the team from What’s up Jeddah magazine. I asked about how they found the forum this year. They complimented the organizing committee and how big the place was in comparison to last year.
Anyways, when we got back to the next session, Mr. David Lewis the Lord Mayor of London talked briefly about the concepts of prosperity which from his own personal view were:
Diversification, Education, Innovation and partnership.
And at last but not least, Professor Mohammed Yunus, Grameen Bank founder stepped up. His speech was tremendously amazing. He reached the hearts of everyone in the crowd.
Professor Mohammed started off by explaining how Grameen Bank was founded. He talked about the method he used to run his bank. He examined the way conventional banks regulations and rules and then he simply did the opposite! (The hall was filled with laughter).
He said that the society has to give poor people a chance or else the society itself is responsible for poverty.
He also issued that there should be two kinds of businesses. Business to make money and businesses that are dedicated to helping others.
He mentioned that charity dollars never come back and die right away, but social dollars have endless lives.
His main goal is to make poverty forgotten all around the world and by that he doesn’t mean the third world only. He joked that he wants to put the word poverty in a museum for future generations to see.
I think this is the best speech of JEF 2008 so far. I couldn’t stop overhearing another guy passing right by me saying that he heard about Professor Mohammed before, but he didn’t know realize how fascinating he was. I was touched just like many of the other people in this hall were.
I think this session really set a high standard for all the other sessions to beat. For those of you who missed this session, you really missed out on a lot of excitement.
Stay tuned for the next blogs form my very hard working colleagues.
But until then . . .
Sayonara!
1 comment:
Mr. ThamerAl-Haddad is good-looking. very handsome. i admire this man, i only hope i could get to know him.
please let this man know that a 28 yra lold journalist from somewhere on earth is admiring him.
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