IRTI, Dar Al-Sharia to develop Islamic finance solutions

IRTI DG Dr. Humayon Dar, right, and Dar Al-Sharia CEO Mian Muhammad Nazir, shortly after signing the MoU in Jeddah.
Updated 10 September 2018
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IRTI, Dar Al-Sharia to develop Islamic finance solutions

A memorandum of understanding (MoU) has been signed between the Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IsDB) Group and Dar Al-Sharia for strategic collaboration in various aspects of Islamic finance advisory.

The MoU was signed by IRTI Director General Dr. Humayon Dar and CEO of Dar Al-Sharia Mian Muhammad Nazir, during a ceremony at the IsDB headquarters in Jeddah.

The MoU will facilitate collaboration between the two institutions to promote and develop cutting-edge Islamic financial solutions including structuring and developing new products, undertaking research and capacity building, as well as developing Shariah governance for Islamic financial institutions and other relevant stakeholders.

In addition, IRTI and Dar Al-Sharia will also jointly provide Islamic finance advisory services to Islamic financial institutions, multilateral financial institutions, sovereigns and quasi-sovereigns, corporate entities, development funds, regulators, Fintech companies, educational institutions and other clients offering Shariah-compliant products and services.

Dr. Dar said: “IRTI is happy to have this strategic collaboration with Dar Al-Sharia. Given IRTI’s pioneering role in the Islamic finance industry, we will bring to the table our deep and world-renowned experience and expertise to work with Dar Al-Sharia to develop innovative Islamic finance solutions.”

Nazir said: “The strategic collaboration with IRTI is a landmark initiative toward the development of a sustainable platform for innovation to support the rapidly growing Islamic finance industry.”


MYNM welcomes new BMW X5 in Saudi Arabia

MYNM welcomed the new vehicle in the BMW Automall showroom in Jeddah on Nov. 11.
Updated 20 November 2018
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MYNM welcomes new BMW X5 in Saudi Arabia

MYNM, the official importer of BMW Group in Saudi Arabia, has announced the arrival of the new BMW X5. MYNM welcomed the new vehicle in the BMW Automall showroom in Jeddah on Nov. 11.

Compared to its predecessor, the BMW X5 has grown in all dimensions while still retaining its charismatic character and proportions. Its design language has become more athletic, with more clearly defined surfaces and even more precise lines; the signature sculpted bonnet has a muscular appearance, and the front overhang is even shorter than the previous model. 

The new X5 boasts a dynamic front design with its large BMW kidney grille. The standard LED headlights are very slim and wrap around into the front wings giving it its unique character. 

The new BMW X5 will be launched with two power-boosted engines with a three-liter six-cylinder petrol engine with 340 hp and a max. torque of 450 Nm. 

The BMW X5 will be available for sale across MYNM showrooms this December. Customers can view the model in person and schedule a test drive to experience it.