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Service Recovery
The process of handling and resolving beneficiaries' complaints or problems to restore their satisfaction.
Customer-Centric Service Recovery
Handling beneficiary complaints or issues with empathy, speed, and effective solutions.
Beneficiary-Centric Product Design
A strategic approach to developing products with features and characteristics that directly address beneficiaries' needs, wants, and pain points.
Kyoto Convention (Customs)
The expression commonly used to denote the International Convention on the Simplification and Harmonization of Customs Procedures, adopted by the Customs Cooperation Council in Kyoto in 1973.
Emerging Digital Economy
The shift to an economy driven by digital technologies, including e-commerce, fintech, blockchain, and AI-driven business models.
Economic Outlook
A forecast of future economic conditions based on trends, indicators, and policy analysis.
Control Frame (COSO)
A process, influenced by the entity's board of directors, executive management, and other individuals, that is designed to provide assurance that the entity is achieving its objectives that are related to operations, operating, reporting, and compliance with laws and regulations.
Control Commitment
To make sure that the government entity adheres to all control regulations.
Consortium
A group of companies bidding together for a project. In a PPP this enables companies to bring together all capabilities required for the project (construction, operation, and financing).
Internal Control Framework
A data structure that organizes and categorizes an organization's internal controls, they are practices and procedures that are put in place to create added value and reduce enterprise risks.
Economic Revitalization
A process aimed at improving or reinvigorating a stagnating or declining economy, often through investments, job creation, and infrastructure development.
Non-Oil Economy
Economic sectors and activities that do not involve the production, extraction, or sale of petroleum or oil-related products.
Final Cash Consumption Expenditure of Households
Household spending for direct satisfaction of needs or wants through monetary transactions. It is generally associated with the domestic concept that includes expenditures made by households, regardless of nationality or residence, within the economic territory of the country.
Control Environment
A set of standards, processes, and activities that provide the basis for carrying out internal control procedures in the entity.
Economic Reform
Changes or improvements made to the economic policies or systems to enhance efficiency, growth, and stability.
Conglomerate Merger
A merger between companies in unrelated industries to diversify business operations.
Knowledge Economy
An economy based on the production and management of knowledge and information, rather than physical goods.
Economic Recovery
The phase following a recession where the economy starts to grow again, with increased production, job creation, and rising confidence in markets.
Economic Transformation
A significant change in the structure of an economy, often transitioning from agrarian to industrial or from industrial to a service-based economy.
Double Taxation Agreement
An international agreement with the purposes of avoiding double taxation and charging a taxpayer with double taxation in two contracting countries for the same income, profits, or evasion of income, and capital tax.
Sale Agency Agreement
A legal contract between a seller and an agency or representative, outlining the terms and conditions for the sale of products or services.
Technical Procedures
The mechanisms relevant to listing and trading securities to execute transactions including settlement, clearing, ownership registration, transfer and deposit of securities.
Fraud
The act of deceiving or manipulating information, assets, or processes with the intent to gain an unfair advantage, often resulting in financial losses or legal consequences.
Customs Formalities
All the operations which must be carried out by the persons concerned and by the Customs in order to comply with the Customs law.
Business Procedures
Standardized processes that organizations follow to ensure efficiency, consistency, and compliance.
Corporate Actions
Actions taken by an issuer which lead to increasing or decreasing the number of its securities or changing its nominal value including, for example, increasing or decreasing its capital.
Insignificant Probability
An event or outcome is highly unlikely to occur or has a very low chance of happening.
Ehkaam
Sector of Private Properties Affairs in the State Properties General Authority.
Transitional Rules
A set of statutory provisions that provide specific exceptions that are applied during the transitional period resulting from the issuance or amendment of any of the laws, regulations, tax or zakat instructions.
Black-Box Testing
A method of software testing examining functionality without looking at internal structures.
Emotional Experience Management
The systematic, strategic approach to understanding, measuring, and influencing the experiences and emotional responses of beneficiaries or employees.
Quality Management
A comprehensive approach to overseeing and improving the quality of products and services in an organization, often associated with ISO standards.
Private Sector Performance
The assessment of the effectiveness and efficiency of privately owned economic institutions in achieving economic goals such as profits, growth, and job creation, including indicators such as efficiency, productivity, and growth rates.
Industrial Technology Department
A department focused on advancing technologies for industrial processes and manufacturing.
Customer Experience Management
Managing the experience by designing and responding to customers’ interactions to meet or exceed their expectations.
Digital Intelligence Instruments
Comprehensive solutions that provide organizations with tools and capabilities to collect, analyze, and derive insights from digital customer data across various channels and touchpoints.
Sector Growth Sustainability
The ability of an industry to grow consistently without depleting resources or harming the economy.
Qualified Dividend
A type of dividend income that receives favorable tax treatment, often subject to a lower tax rate than ordinary dividends.
Systemic Banking Crisis
A financial crisis that affects the entire banking system, often leading to widespread instability and the need for government intervention.
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