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.”


Movie time at Riyadh’s Atyaf Mall with Vox

Updated 19 January 2020

Movie time at Riyadh’s Atyaf Mall with Vox

Atyaf Mall, in partnership with Majid Al-Futtaim’s Vox Cinemas, launched a cinema facility of 11 screens and 650-seating capacity. The eighth branch of Vox Cinemas in Saudi Arabia was inaugurated by Mohamed Al-Hashemi, country manager of Majid Al-Futtaim Ventures, in the presence of Shehim Mohammed, director of LuLu Saudi Hypermarkets, and Dr. Mohammed Al-Rowaished, CEO of Hewar Al-Rabie Company. 

The new cinema facility features seven standard cinemas, two VIP provisions, and two kids’ movie houses. Apart from refreshment counter favorites like popcorn, snacks and beverages, Vox Cinemas in Atyaf Mall offers a Nutella Bar, and Kitchen 35, a bakeshop with artisan breads and pastries and fresh juices in one entertainment venue. 

Mohammed, director of LuLu Saudi Hypermarkets, said: “We are proud to launch another entertainment venue for our dynamic customer base who considers Atyaf Mall as its home for lifestyle needs. We extend our biggest gratitude to our partners from Majid Al-Futtaim in making this project possible with innovative and customer-focused experiences and offerings on hand.”

Managed by LuLu Properties, the shopping mall and property development team of LuLu Group, Atyaf Mall houses conducive places for shopping, dining and leisure, along with a lineup of global brands, and a 220,000-square-foot LuLu hypermarket. From Matalan to H&M, Saco, and Red Tag, the fashion collection is expected to highlight the latest clothing lines and footwear pieces every season, alongside a food court and seven new restaurants that will soon showcase global flavors. 

“With these new concepts introduced in the mall, Atyaf Mall will continue to satisfy the evolving and adventurous lifestyle demands of the new age of Riyadh’s growing market,” Mohammed added.