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Arabic GLOBE-NEWSWIRE MENA Pakistan Press Releases Urdu

‫بهدف تحفيز الاستثمار الأجنبي ورفع جاذبية وكفاءة السوق المالية وتعزيز تنافسيتها محلياً ودولياً “هيئة السوق المالية” تعتمد القواعد المنظمة للاستثمار الأجنبي في الأوراق المالية

إعلان (رابط الإعلان)

الثلاثاء 2 مايو 2023م  –  الرياض, المملكة العربية السعودية – اعتمدت هيئة السوق المالية القواعد المنظمة للاستثمار الأجنبي في الأوراق المالية، وتعليمات الحسابات الاستثمارية المعدّلة، وتعديل اللائحة التنفيذية لنظام الشركات الخاصة بشركات المساهمة المدرجة وقائمة المصطلحات المستخدمة في لوائح هيئة السوق المالية وقواعدها، ليعمل بها ابتداءً من تاريخ نشرها.

وجاء اعتماد تلك القواعد والتعليمات وقائمة المصطلحات، لتطوير الأحكام المنظمة للاستثمار الأجنبي في الأوراق المالية، وتيسير الاطلاع على الأطر التنظيمية المنظمة للاستثمار الأجنبي في الأوراق المالية ‌من خلال جمع الأحكام المنظمة لذلك في وثيقة تنظيمية واحدة، بالإضافة إلى تسهيل إجراءات دخول المستثمرين الأجانب للسوق المالية السعودية.

وتم في التعديلات الأخيرة تخفيف متطلبات المستثمرين الأجانب وتخفيف متطلبات الإفصاح والالتزامات المستمرة عليهم لتسهيل دخول المستثمر الأجنبي المؤهل في السوق المالية السعودية، ولتقليل الفروقات بين ما هو مفروض على المستثمر الأجنبي المؤهل، مقارنة ببقية فئات المستثمرين في السوق المالية السعودية.

هذا بالإضافة إلى تطوير شروط التأهيل الواجب استيفاؤها من المستثمر الأجنبي المؤهل للاستثمار في الأسهم المدرجة بالسوق الرئيسية، وإلغاء متطلبات تقديم طلب التأهيل واتفاقية تقييم المستثمر الأجنبي المؤهل، مع الاكتفاء في القواعد المعتمدة بمتطلبات فتح الحساب الاستثماري، وفقاً لتعليمات الحسابات الاستثمارية الصادرة عن الهيئة، وذلك بهدف التأكيد على واجب مؤسسة السوق المالية في التأكد من كون المستثمر الأجنبي مستوفياً لشروط التأهيل ذات العلاقة.

كما شملت التعديلات تطوير شروط استثمار الأجنبي غير المقيم في الأوراق المالية المدرجة من خلال اتفاقيات المبادلة، بما في ذلك إلغاء الشرط المفروض على مدة الاتفاقية، بالإضافة إلى إلغاء متطَّلب إشعار الهيئة قبل إبرام اتفاقية المبادلة.

كذلك شملت إضافة قناة جديدة للاستثمار الأجنبي في الأسهم المدرجة في السوق الرئيسية، وذلك من خلال تمكين الأشخاص الطبيعيين والاعتباريين الأجانب من الاستثمار في الأسهم المدرجة في السوق الرئيسية من خلال المحافظ الاستثمارية المدارة من مؤسسات السوق المالية.

‌وستحل القواعد المنظمة للاستثمار الأجنبي في الأوراق المالية بدءاً من تاريخ العمل بها، محل كل من القواعد المنظمة لاستثمار المؤسسات المالية الأجنبية المؤهلة في الأوراق المالية المدرجة، والتعليمات المنظمة لتملّك المستثمرين الاستراتيجيين الأجانب حصصا استراتيجية في الشركات المدرجة، والدليل الاسترشادي لاستثمار الأجانب غير المقيمين في السوق الموازية.

وينتظر أن تنعكس القواعد المعتمدة على تعزيز سيولة السوق المالية السعودية وتعميقها ورفع جاذبيتها وتعزيز مكانة السوق المالية السعودية على المستوى العالمي، بالإضافة إلى نقل المعارف والخبرات للمؤسسات المالية المحلية والمستثمرين من خلال تعزيز دور المستثمر المؤسسي في السوق المالية السعودية.

وجدير بالذكر أن هيئة السوق المالية قامت في 2018 بإصدار التحديث للقواعد المنظمة لاستثمار المؤسسات المالية الأجنبية المؤهلة في الأوراق المالية المدرجة، وعلى أثر ذلك تضاعفت الأرقام الخاصة بالمستثمرين الأجانب، حيث ارتفع عدد المستثمرين الأجانب بنسبة 179% منذ عام 2018 وحتى عام 2022م، وارتفعت نسبة ملكية المستثمرين الأجانب من إجمالي القيمة السوقية للأسهم الحرة من 3.77% في 2018 إلى 14.21% بنهاية 2022.

ويأتي اعتماد القواعد بعد أن نشرت الهيئة مشروع القواعد المنظمة للاستثمار الأجنبي في الأوراق المالية على المنصة الإلكترونية الموحدة لاستطلاع آراء العموم والجهات الحكومية التابعة للمركز الوطني للتنافسية (منصة استطلاع) وموقع الهيئة الإلكتروني لمدة (30) يوماً تقويمياً لاستطلاع مرئيات العموم حياله.

وتهدف المملكة العربية السعودية إلى أن تكون وجهة استثمارية جاذبة ومحفزة للاستمرار والتوسع ضمن رؤيتها 2030، حيث عملت على إصلاحات هيكلية في الجانب الاقتصادي والمالي أسهمت في رفع معدلات النمو الاقتصادي والحفاظ على الاستقرار والاستدامة المالية، والتي بدورها تجذب الاستثمارات الأجنبية إلى المملكة.

وتسعى الهيئة من خلال خطتها الاستراتيجية إلى جعل السوق المالية السعودية السوق الرئيسية في الشرق الأوسط ومن أهم الأسواق المالية في العالم، وأن تكون سوقاً متقدمةً وجاذبةً للاستثمار المحلي والأجنبي بما يمكّنها من أداء دور محوري في تنمية الاقتصاد وتنويع مصادر دخله بما يتماشى مع رؤية 2030.

ويمكن الاطلاع على القواعد المنظمة للاستثمار الأجنبي في الأوراق المالية، وتعليمات الحسابات الاستثمارية المعدّلة، واللائحة التنفيذية لنظام الشركات الخاصة بشركات المساهمة المدرجة المعدّلة، وقائمة المصطلحات المستخدمة في لوائح هيئة السوق المالية وقواعدها المعدّلة، من خلال الروابط الإلكترونية الآتية:

القواعد المنظمة للاستثمار الأجنبي في الأوراق المالية

تعليمات الحسابات الاستثمارية المعدّلة

اللائحة التنفيذية لنظام الشركات الخاصة بشركات المساهمة المدرجة المعدّلة

وقائمة المصطلحات المستخدمة في لوائح هيئة السوق المالية وقواعدها المعدّلة

معلومات التواصل: Contact:

هيئة السوق المالية

الإدارة العامة للتواصل وحماية المستثمر

966114906009+

966557666932+

Media@cma.org.sa

www.cma.org.sa

 

Capital Market Authority

Communication & Investor Protection Division

966114906009+

966557666932+

Media@cma.org.sa

www.cma.org.sa

عن الهيئة:   About CMA:

نشأت السوق المالية في السعودية ببدايات غير رسمية في الخمسينات، واستمر الوضع كذلك إلى أن وضعت الحكومة التنظيمات الأساسية للسوق في الثمانينات. وبموجب “نظام السوق المالية” الصادر بالمرسوم الملكي رقم (م/30) وتاريخ 2/6/1424هـ تأسست هيئة السوق المالية. وهي هيئة حكومية ذات استقلال مالي وإداري وترتبط مباشرة برئيس مجلس الوزراء.

للمزيد من المعلومات عن الهيئة يرجى زيارة موقع الهيئة الرسمي على شبكة الإنترنت: www.cma.org.sa

 

The Capital Market Authority (CMA) in Saudi Arabia unofficially started in the early fifties, and continued to operate successfully, until the government set its basic regulations in the eighties. The current Capital Market Law is promulgated and pursuant to Royal Decree No. (M/30) dated 2/6/1424H, which formally brought it into existence. The CMA is a government organization applying full financial, legal, and administrative independence, and has direct links with the Prime Minister.

For more information about CMA, please visit the official website: www.cma.org.sa

GlobeNewswire Distribution ID 3552423

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GLOBE-NEWSWIRE MENA Pakistan Press Releases

To instigate foreign investment, increase the attractiveness and efficiency of the capital market, and enhance regional and international market competitiveness: The Capital Market Authority Approves the Rules for Foreign Investment in Securities

Rules for Foreign Investment in Securities

CMA approves the Rules for Foreign Investment in Securities with the Aim of Investigating Foreign Investment and Raising Attractiveness and Competitiveness of Capital Market

Announcement (Link)

RIYADH, Kingdom of Saudi Arabia, May 05, 2023 (GLOBE NEWSWIRE) — The Capital Market Authority (“CMA”) approved the Rules for Foreign Investment in Securities (the “Rules”), Amendments to the Investment Accounts Instructions, Amendments to the Implementing Regulation of the Companies Law for Listed Joint Stock Companies and Amendments to the Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority, which shall be effective as of the date of their publications.

The approval of the Rules, Instructions and Glossary aim to develop the provisions regulating foreign investment in securities, facilitate access to the regulatory frames regulating foreign investment in securities by collecting the regulating provisions in a single regulatory document, as well as facilitating qualified foreign investors’ (QFIs’) entry procedures to invest in the Saudi capital market.

The last Amendments comprised considering facilitating the QFIs’ requirements, facilitating disclosure requirements and continuous obligations to ease Saudi capital market entry with the aim of minimizing the differences between QFIs and other investor categories in the Saudi market.

The Amendments also comprised developing the qualification conditions that must be met by the QFI to invest in the shares listed in the Main Market and removing the requirements on application for qualification and QFI’s assessment agreement. The approved Rules only requiring the QFI to open an investment account in accordance with the Investment Accounts Instructions issued by CMA. This is to ensure the obligation of the capital market institution to make sure that the QFI is meeting all relevant qualification conditions.

Furthermore, the amendments included developing conditions on the investment of the non-resident foreign investors in listed securities through Swap Agreements, including removing the requirement on the duration of such swap agreements, as well as removing the requirement to notify the CMA prior to entering into a Swap Agreement.

The Amendments also included adding a new channel for foreign investment in securities listed on the main market by enabling all foreign natural and legal persons to invest in securities listed on the main market through discretionary portfolios management by Capital Market Institutions.

As of its effective date, the Rules shall replace the Rules for Qualified Foreign Financial Institutions Investment in Listed Securities, Instructions for the Foreign Strategic Investors’ Ownership in Listed Companies and the Guidance Note for the Investment of Non-Resident Foreigners in the Parallel Market.

The approval of these rules is expected to have a positive impact on boosting liquidity in the Saudi market, deepening and raising its attractiveness, and enhancing its global status. The rules will also contribute to the transformation of knowledge and experiences in local capital institutions and investors, thereby enhancing the role played by institutional investors in the Saudi capital market.

It is worth noting that the CMA issued the updated edition of the Rules in 2018, which resulted in a 179% increase in the number of QFIs from 2018 to 2022 . In addition, the foreign investors’ ownership ratio of the free float total market value increased from 3.77% in 2018 to 14.21% by the end of 2022.

The approval of the Rules came after CMA has published the Draft Rules for Foreign Investment in Securities on the Unified Electronic Platform for Consulting the Public and Government Entities (Public Consultation Platform) affiliated with the National Competitiveness Center (NCC), and the CMA’s website for public consultation for a period of (30) calendar days.

Within its Vision 2030, the Kingdom aims to be an attractive and instigating investment destination to continue expanding, as it has developed structural reforms in the financial and economic aspects that have contributed to raising economic growth rates and maintaining financial stability and sustainability, which in turn, helps in attracting foreign investments.

Through its strategic plan; the CMA seeks to position the Saudi capital market as main market in the Middle East and one of the leaders financial markets in the world, and to be an advanced market and attractive to domestic and foreign investment, enabling it to play a pivotal role in developing the economy and diversifying its sources of income in line of the Kingdom’s Vision 2030.

The Rules for Foreign Investment in Securities, the Amended Investment Accounts Instructions, the Amended Implementing Regulation of the Companies Law for Listed Joint Stock Companies and the Amended Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority can be viewed via the following links:

The Rules for Foreign Investment in Securities

The Amended Investment Accounts Instructions

The Amended Implementing Regulation of the Companies Law for Listed Joint Stock Companies

The Amended Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority

Contact:
Capital Market Authority
Communication & Investor Protection Division
+966114906009
+966557666932
Media@cma.org.sa
www.cma.org.sa

About CMA:
The Capital Market Authority (CMA) in Saudi Arabia unofficially started in the early fifties, and continued to operate successfully, until the government set its basic regulations in the eighties. The current Capital Market Law is promulgated and pursuant to Royal Decree No. (M/30) dated 2/6/1424H, which formally brought it into existence. The CMA is a government organization applying full financial, legal, and administrative independence, and has direct links with the Prime Minister.

For more information about CMA, please visit the official website: www.cma.org.sa

A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/fa8014a9-7c79-458e-87eb-2da58d688e6c

GlobeNewswire Distribution ID 8833372

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General

Jordanian-Iraqi Business Forum to kick off next June

The Iraqi Business Council (IBC) in Jordan is scheduled to organize the Jordanian-Iraqi Business and Finance Forum next month in Amman, under the theme:”Building Bridges of Common Prosperity,” with “wide” participation from the two countries’ investors, business owners, companies and other countries. The forum, which is slated to open next June 20, will focus on the sectors of industry, finance, telecom and information technology, contracting, construction, real estate development, energy and mining. The council’s vice-president, Saad Naji, the forum is held based on His Majesty King Abdullah II’s vision to achieve the two countries’ economic integration and expand joint cooperation horizons, especially in the investment and trade fields. In a statement on Saturday, Naji said the forum, which receives “wide” interest from various Iraqi activities, also comes in light of the Kingdom’s “important” role in promoting joint Arab economic action. The forum will be attended by Jordanian and Iraqi businesspeople, investors, governmental and parliamentary figures, local and international companies, private sector institutions, United Nations organizations and international bodies, according to Naji. The forum aims to promote investment in various fields and trade exchange between Jordan and Iraq, and establish joint partnerships, he said, adding that the event will also discuss all challenges facing ways to develop joint economic relations. Naji added that the forum also seeks to enhance Iraqi companies’ trade and investment exchange with Jordanian, Arab and international counterparts, to contribute to Iraq’s reconstruction projects, as well as learning about the two countries’ current and future business opportunities. During the forum, sessions and seminars will be held on investment, industry, housing and financing issues, and mechanisms to create opportunities for Jordanian banks and exchange companies to enter Iraq and establish partnerships with their Iraqi counterparts, as well as presenting multiple recent studies on developing the two countries’ business and economies.

Source: Jordan News Agency

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General

Lands owned by GAM estimated at JD2.5bln, says mayor

Mayor of Amman Yousef Shawarbeh on Saturday said that the lands owned by the Greater Amman Municipality (GAM) amount to a value exceeding 2.5 billion dinars, with one billion dinars of this sum being deemed as investable. Speaking at a national conference centered on investment prospects, which was held in the context of the economic modernization vision, Shawarbeh stressed that the Municipality is actively contributing to the development of the investment environment in the capital, Amman. This is being achieved by means of simplified procedures for investors and the provision of electronic services, with the ultimate aim of guaranteeing equity and integrity in the delivery of these services. Additionally, the Municipality has taken steps to create the Amman Vision Company for Investment and Development, he explained. Shawarbeh went on to emphasize that the Amman Vision Company for Investment and Development represents a crucial component of the Greater Amman Municipality’s strategy concerning the enhancement of investment management for its entrusted properties. Furthermore, he pointed out that the Municipality has successfully forged numerous agreements and memorandums of understanding, all in service of the vision of economic modernization. Ahmed Safadi, the Parliament Speaker who patronized the conference, affirmed the legislature’s mandate to overseeing the government’s adherence to the implementation of the vision of economic modernization. He underscored the importance of this blueprint in meeting the hopes of the Jordanian populace and bolstering the national economy. Safadi went on to emphasize that economic modernization is contingent upon collaborative endeavors at the national level. Such efforts must be guided by a well-defined strategic program and a clear roadmap for implementation, particularly in each sector, with the ultimate objective of ameliorating the standard of living of citizens and creating job opportunities. Ambassador of the United Arab Emirates to Jordan, Sheikh Khalifa bin Mohammed bin Khalid Al Nahyan, who attended the event, spoke about economic cooperation between the two countries and Emirati investments in the Kingdom. He noted that UAE investments in Jordan are estimated at more than $17 billion in a host of sectors, referring to a recent joint solar power project.

Source: Jordan News Agency

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General

13k occupational injuries occurred in Jordan during 2022-Official

Social Security Corporation (SSC) received 13,465 work-related injuries during 2022, according to director of its Occupational Safety and Workplace Injuries Department, Nasha’t Badawi. Value of the workplace injuries amounted to about JD11, 796 million, which included daily allowances, medical care expenses, and one-off compensation for the injury disability, which is less than 30%, he added. In a statement to “Petra” on Saturday, he noted majority of on-the-job injuries took place in the manufacturing industries, health and social work sectors. SSC, he noted, accredited 41 medical treatment facilities (hospitals), taking into account their geographical distribution to cover the Kingdom’s various governorates, primarily all Royal Medical Services hospitals, and majority of private hospitals, aimed to providing “distinguished” service to the injured workers, who benefit from the corporation’s insurance umbrella. According to the corporation, the establishment must transfer the injured worker to the nearest SSC-accredited hospital if a work injury occurs to a SCC services beneficiary.

Source: Jordan News Agency

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General

Aqaba Marine Reserve completes IUCN’s Green List Applicant Phase requirements

The IUCN Regional Office for West Asia has announced that the Aqaba Marine Reserve is committing to achieving the IUCN’s Green List Standard for Protected and Conserved Areas and had concluded the Applicant Phase requirements, which is the first milestone of the process. The reserve is an official candidate for the IUCN Green List and can now continue with the verification process for full recognition and certification. This declaration ensues the submission of a candidacy application by the Aqaba Special Economic Zone Authority to the International Union for Conservation of Nature in 2022, along with a comprehensive response to the assessment indicators comprising over 50 benchmarks that mirror 17 essential criteria pertaining to good governance, effective planning and design, competent management, and the excellence of nature conservation initiatives. The successful completion of this crucial phase by the Aqaba Marine Reserve has been made possible through collaborative efforts between the Aqaba Special Economic Zone Authority and its government partners, including the Ministry of Environment, and its international partners such as the European Union and the United Nations Development Program (UNDP – Jordan Office). If the Aqaba Marine Reserve passes the second evaluation phase, obtaining the certificate signifies the Union’s official recognition of it being among the world’s best-managed reserves. This recognition is attributed to its effective governance and management, environmental sustainability approach, and preservation of marine resources, diversity, and protection against degradation and depletion. The IUCN Green List Program is a worldwide certification initiative that aims to promote and attain protected areas through equitable and efficient means. It does so by highlighting best practices and providing a benchmark to measure progress towards effective and equitable management.

Source: Jordan News Agency

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General

CULTURE MINISTER FROM BEIRUT’S NATIONAL MUSEUM: MARTYRS OF MAY 6 & THE RIGHTEOUS WHO FOLLOWED THEM CALL UPON US TO LOVE LEBANON, LIVE FOR IT, DIE FOR ITS UNITY, SAVE IT FROM MALICIOUS CLUTCHES

NNA – Caretaker Minister of Culture, Judge Muhammad Wissam Al-Murtada, in partnership with ‘LeBAM’, the Lebanese Band Association for the Promotion of Music headed by former deputy, Attorney Ghassan Moukheiber, organized today a musical concert on the internal staircase of the National Museum in Beirut marking the occasion of Martyrs’ Day, which was attended by a group of officials, diplomats, social activists and cultural figures. In his word during the event, Minister Murtada said, ‘Perhaps our meeting today on the steps of time whose eras and monuments are composed here, to revive a great historical day, with a beautiful concert, is a practical response to all attempts that seek to distort the national present that is suffering from ailments…’ He added: ‘People need a glimmer of hope, if culture does not secure it for them, their tomorrow will fall on the rubble of the present. That is why we always insist on a positive outlook, confident that the difficult stages in the lives of peoples are nothing but a summer cloud that will quickly pass as much as the people cling to their faith in their homeland.’ Paying tribute to the memory of the fallen martyrs, Murtada considered that ‘the martyrs of the sixth of May and those who followed them were among the righteous who penetrated death into eternity in the memory of the nation,’ noting that they ‘call on us to preserve the truth for which they were martyred…to love Lebanon, live for it, die for its unity, and always work to save it from the clutches of traps and conspiracies…’ Appreciating the musical performance marking the occasion, the Culture Minister said: ‘As for LeBAM, how wonderful is this verbal and spiritual mixture between the homeland and music, which, through the symbolism of its name, and the energy of our dear friend Ghassan Moukheiber, constitutes one of the glimmers of hope that should overflow to fill the nights of the nation…I may not be exaggerating if I say that with the diversity of its musicians and their instruments and the consistency of their melodies and voices, they broadcast the true scenario of Lebanon, which is diverse in unity and one in diversity, as I have mentioned on several occasions.’ Murtada concluded by indicating that ‘LeBAM is a musical group that has the image of the homeland, so let us listen to it with contemplation and joy in the hope that the homeland will return to being a land that has the shape of music and its impact that revives souls.’ Moukheiber then presented Murtada with a shield in the name of the Association, “as a token of gratitude for his tireless activity for the development of culture in Lebanon and for his support of music through the Lebanese Association, LeBAM.” Finally, tre band, led by Maestro Serghei Bolum, played Lebanese, Arab and foreign folklore musical tunes and melodies to celebrate the occasion.

Source: National News Agency – Lebanon

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SKAF AFTER MEETING WITH BASSIL: ONLY SERIOUS INTERNAL MOVES WILL CURB ANY EXTERNAL EFFORT TO IMPOSE A PRESIDENT

Free Patriotic Movement Chief, MP Gebran Bassil, met today with MP Ghassan Skaf at his residence, during which talks touched on the general situation in the country and the presidential elections dossier. Following the meeting, Skaf considered that ‘the outside moves are due to internal stagnation and the feeling of regional and international states’ of officials’ indifference to the suffering of citizens and their distraction with personal matters.’ He added, ‘Today we are witnessing a decline in the level of external interference in favor of the Lebaneseization of the presidential entitlement, in wake of the actual internal movement we have begun…” Skaff continued: “Based on the positive and open atmosphere that I sensed with Minister Basil, I sincerely address all the other parties, especially those who are contributing, with or without knowledge, to obstructing the accomplishment of the presidential election by softening positions, easing conditions, and showing a little humility and a lot of responsibility.”

Source: National News Agency – Lebanon

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JUMBLATT CONFERS WITH BUKHARI OVER PREVAILING CONDITIONS

Progressive Socialist Party Chief, Walid Jumblatt, received this evening at his Clemenceau residence, Saudi Ambassador to Lebanon, Walid Al-Bukhari, in the presence of the head of the “Democratic Gathering” parliamentary bloc, MP Taymour Jumblatt, and MP Wael Abu Faour. Discussions touched on various hour issues and latest developments.

Source: National News Agency – Lebanon

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CULTURE MINISTER FROM BEIRUT’S NATIONAL MUSEUM: MARTYRS OF MAY 6 & THE RIGHTEOUS WHO FOLLOWED THEM CALL UPON US TO LOVE LEBANON, LIVE FOR IT, DIE FOR ITS UNITY, SAVE IT FROM MALICIOUS CLUTCHES

NNA – Caretaker Minister of Culture, Judge Muhammad Wissam Al-Murtada, in partnership with ‘LeBAM’, the Lebanese Band Association for the Promotion of Music headed by former deputy, Attorney Ghassan Moukheiber, organized today a musical concert on the internal staircase of the National Museum in Beirut marking the occasion of Martyrs’ Day, which was attended by a group of officials, diplomats, social activists and cultural figures. In his word during the event, Minister Murtada said, ‘Perhaps our meeting today on the steps of time whose eras and monuments are composed here, to revive a great historical day, with a beautiful concert, is a practical response to all attempts that seek to distort the national present that is suffering from ailments…’ He added: ‘People need a glimmer of hope, if culture does not secure it for them, their tomorrow will fall on the rubble of the present. That is why we always insist on a positive outlook, confident that the difficult stages in the lives of peoples are nothing but a summer cloud that will quickly pass as much as the people cling to their faith in their homeland.’ Paying tribute to the memory of the fallen martyrs, Murtada considered that ‘the martyrs of the sixth of May and those who followed them were among the righteous who penetrated death into eternity in the memory of the nation,’ noting that they ‘call on us to preserve the truth for which they were martyred…to love Lebanon, live for it, die for its unity, and always work to save it from the clutches of traps and conspiracies…’ Appreciating the musical performance marking the occasion, the Culture Minister said: ‘As for LeBAM, how wonderful is this verbal and spiritual mixture between the homeland and music, which, through the symbolism of its name, and the energy of our dear friend Ghassan Moukheiber, constitutes one of the glimmers of hope that should overflow to fill the nights of the nation…I may not be exaggerating if I say that with the diversity of its musicians and their instruments and the consistency of their melodies and voices, they broadcast the true scenario of Lebanon, which is diverse in unity and one in diversity, as I have mentioned on several occasions.’ Murtada concluded by indicating that ‘LeBAM is a musical group that has the image of the homeland, so let us listen to it with contemplation and joy in the hope that the homeland will return to being a land that has the shape of music and its impact that revives souls.’ Moukheiber then presented Murtada with a shield in the name of the Association, “as a token of gratitude for his tireless activity for the development of culture in Lebanon and for his support of music through the Lebanese Association, LeBAM.” Finally, tre band, led by Maestro Serghei Bolum, played Lebanese, Arab and foreign folklore musical tunes and melodies to celebrate the occasion.

Source: National News Agency – Lebanon