1st regional consultation on Sukuk Model Law held

IRTI Director General Prof. Mohamed Azmi Omar, 3rd left, poses with other officials during the workshop in Dakar, Senegal.
Updated 04 February 2017
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1st regional consultation on Sukuk Model Law held

The first workshop on the Sukuk Model Law was held in Dakar, Senegal, recently. The event was organzied by the Islamic Development Bank (IDB) and the Islamic Research and Training Institute (IRTI), in partnership with the Central Bank of West African States (BCEAO).
A number of experts, including senior officials of regulatory authorities and finance officials from the eight BCEAO member countries, participated in the event.
Specialist law firms and consultants with expertise in Sukuk and Islamic finance from the various jurisdictions also participated in the project.
This was the first of the four regional consultations that are an integral part of the Sukuk Model Law Project currently under execution by the IDB.
The project aimed to create a model Sukuk law and guidelines that leverage global best practices and allows IDB member countries and other jurisdictions a basis for creating a sustainable legal framework for Sukuk issuance and regulation.
Subsequent regional consultations are planned for South East Asia, Central Asia and the MENA regions.
Speaking on the occasion, IRTI Director General Prof. Mohamed Azmi Omar said: “The workshop reaffirmed the importance of Sukuk as an emerging yet increasingly significant instrument of resource mobilization globally and for the sub-Saharan African region in particular. The deliberations highlighted the need for collating the experiences, expertise and best global practices to facilitate newcomers to Islamic finance.”


Genesis G70 arrives in the Middle East

Updated 19 April 2018
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Genesis G70 arrives in the Middle East

Genesis has officially launched its compact G70 luxury sedan in Middle East markets, completing the brand’s core sedan lineup. Engineered as a dynamic car with strong appeal to younger customers and more enthusiastic drivers, the G70 joins the flagship G90 large sedan and mid-sized G80 and G80 Sport.

“Genesis has been very well received in the Middle East, and the Genesis G70 will be an exciting new chapter in our story,” said Altar Yilmaz, Genesis general manager for the Africa and Middle East region. “For many of our potential customers, this is the Genesis they have been waiting for.”

The arrival of the Genesis G70 in showrooms follows a previous display presentation at the Dubai International Motor Show in November 2017, where Genesis fielded a large number of inquiries about the car. With larger G80 and G90 models already growing a strong base of loyal customers, it is expected the compact model will add significantly to the brand’s appeal in the competitive Middle East luxury car market.

The G70 showcases the future direction of the Genesis brand’s “Athletic Elegance” design identity. 

“The G70’s interior is configured to prioritize an excellent user experience, with superb fit and finish throughout. The interior packaging reflects simplicity, with an emphasis on genuine functionality instead of gimmickry. A horizontal layout brings a sense of stability, with an intuitively laid-out switchgear and a comfortable, assertive sport steering wheel,” the carmaker said.

The G70 offers two powertrains in the Middle East region — a 3.3-liter V6 petrol turbo and 2.0-liter I4 petrol turbo.  The Lambda II 3.3-liter V6 turbo GDI engine is the heart of the enthusiast-focused G70 Sport, with 370 ps and maximum torque of 52.0 kg.m (510 N.m) 0 to 100 km/h acceleration in 4.7 seconds, and a top speed of 270 km/h.