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.”


STC Solutions, Cisco Meraki to drive digital transformation

The MoU between Cisco Meraki and STC Solutions was signed at GITEX Technology Week.
Updated 18 November 2018
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STC Solutions, Cisco Meraki to drive digital transformation

At GITEX Technology Week, Cisco Meraki and STC Solutions signed a memorandum of understanding (MoU) to drive wireless technology adoption and fuel economic growth in line with Saudi Vision 2030’s digital transformation objectives. The MoU states the two companies plan to work together and develop innovative wireless managed services for the Saudi market, intended to make it easier and more economical for customers to start their digital journeys. 

Recognizing the need for sophisticated digital infrastructure, Saudi Arabia’s Vision 2030 plan foresees increasing the availability and quality of digital connectivity. 

“STC and Cisco Meraki are dedicated to this mission, and will work together to help enable Saudi organizations to quickly deploy simplified wireless solutions with immediate business impacts,” the companies said in a press release.

Saudi organizations of all sizes and verticals are adopting Wi-Fi services for their existing and new business locations. More than half of Saudi private enterprises have Wi-Fi in their head office, as well as in remote branches. There is also increasing investment in wireless solutions in tourism, hospitality, transportation and other sectors. Cisco Meraki, with its focus on simplicity and easy management through a centralized dashboard, will provide STC customers with unmatched visibility and control over their infrastructure.

“STC constantly delivers the latest in managed services with an innovative approach to servicing our clients across all business sectors. We have a long-term relationship with our strategic partner Cisco, and we look forward to enhancing this partnership through adopting world-class solutions that will help our clients to accelerate their digital transformation journey. With the variety of networking and router management solutions that STC provides, the new managed services solution will complement STC’s current portfolio,” said Hatem Al-Kadi, vice president of managed services at STC.

“We are incredibly excited to work with STC to help drive digital transformation in the region. Cisco Meraki is a perfect match for STC and its customers, providing a secure, easy-to-use wireless experience. We look forward to working with STC to transform the digital footprint of Saudi businesses,” said Salman Faqeeh, managing director — Saudi Arabia, Cisco.

STC Solutions is part of Saudi Telecom Company’s ongoing commitment to transform itself into a leading regional ICT player. STCS is accelerating STC’s enterprise segment growth strategy through providing a wide range of ICT services beyond the traditional Telco offerings. 

Cisco is the worldwide technology leader that has been making the internet work since 1984.