ICD to develop Islamic finance in Uzbekistan

The agreement was signed during ICD’s official visit to Uzbekistan.
Updated 17 June 2019

ICD to develop Islamic finance in Uzbekistan

The Islamic Corporation for the Development of the Private Sector (ICD) signed an agreement to assist Kapitalbank, a private commercial bank in Uzbekistan, with technical advisory services for the establishment of a new Islamic banking window.
The agreement was signed during ICD’s official visit to Uzbekistan as part of its mandate to explore development opportunities in the member countries and strengthen ICD’s advisory footprint in central Asia, especially in Uzbekistan.
ICD will assist Kapitalbank in areas of Shariah, accounting, information technology, marketing and communication, HR and legal aspects combined with an on-site extensive theoretical training and supported by on-job training in Islamic banks.
Ayman Sejiny, CEO of ICD, said: “We are happy to sign the agreement to support Kapitalbank and share our expertise through the Islamic Financial Institution Program, developed for and with our partners to advise and assist in developing and reinforcing the Islamic finance industry in the member countries.”
Oleg Kim, acting chairman of the management board, representing Kapitalbank, said: “We believe that the launching of the Islamic window in the bank will allow mobilizing funds of the population who, because of their religious beliefs, did not use traditional banking services. In addition, legal entities will receive access to Shariah-compliant funding. So through Islamic banking, financial inclusion can be promoted and bring a larger pool of savings in the local and global economy.”


Hyundai unveils new technologies to maintain clean air in vehicles

Updated 09 August 2020

Hyundai unveils new technologies to maintain clean air in vehicles

Hyundai Motor Group has announced new technologies to improve the quality of air in vehicles and create a more pleasant indoor environment for customers.

Recognizing the growing concern about air quality, the group unveiled three new air-conditioning technologies — After-Blow, Multi-Air Mode, and Fine Dust Indicator. The technologies will be introduced initially on select models in Korea and expand to upcoming Hyundai vehicles worldwide in the future.

After-Blow

After-Blow dries the condensate on the evaporator and suppresses mold growth in the air-conditioning system, which can cause an odor during hot weather. After the engine is turned off and the condensate on the evaporator drains naturally for about 30 minutes, After-Blow activates for 10 minutes to dry the evaporator and any condensate leftover in the air passage. The air-conditioning system automatically allows influx of outside air during this time to prevent humidity from building up.

The technology uses an intelligent battery sensor (IBS) to monitor the battery and stops functioning when the battery is low, allaying any concerns about battery discharge.

Multi-Air Mode

Multi-Air Mode uses multiple vents for air conditioning and heating to create a more pleasant indoor environment with gentle wind. When this mode is activated, the air is dispersed to the newly added multi-air slots in the driver and passenger seats in addition to the normal air vents. The overall wind volume remains the same, but the dispersion of wind reduces direct air contact and softens the air. This mode can be switched on and off based on the preference of the driver.

Fine Dust Indicator

Fine Dust Indicator measures the air inside the vehicle in real time and delivers digitized information, allowing the driver to better manage the air quality. The indicator displays the concentration and pollution level of ultrafine particles (PM 2.5) inside the vehicle using integer numbers and colors for better visibility to the user. 

If the level of ultrafine particles exceeds 36 μg /m3 while the function is active, the air-cleaning mode will run to purify the air in the vehicle. The air-cleaning system automatically sets the air volume between 3 and 8 and switches to air-recirculation mode and activates the air conditioning system to reduce indoor humidity. If the air does not improve in air-cleaning mode, it can also serve as a reminder to the driver to replace air-conditioner filters or to clean contaminated seats and mats.