Oman Economic Review – July 2019

AUTO NEWS

60 July 2019

Meethaq, the Islamic
banking window of Bank
Muscat, has announced that
the attractive vehicle finance
offer launched for the holy
month of Ramadhan will be
available to all customers till
July 31, 2019. The special
Meethaq Ramadhan auto
finance is currently available
at an attractive 4.99 per cent
annual profit rate, along
with life Takaful during the
entire finance period. The
Sharia-compliant Meethaq
auto finance is based on
the concept of Murabaha

wherein the cost of vehicle

and profit is disclosed

to the buyer. Meethaq

purchases the vehicle at the

customers’ request and sells

it to them at the cost plus

agreed profit. The exclusive

benefits of Meethaq auto

finance include financing

up to 80 per cent of the

value of vehicles, repayment

tenure up to 8 years and

free life Takaful coverage

during the finance period.

Notably, financing is also

available for purchasing

used vehicles.

THE FERRARI SF90 STRADALE – THE

NEW SERIES-PRODUCTION SUPERCAR

Ferrari introduces a new chapter
in its history with the introduction
of its first series production PHEV
(Plug-in Hybrid Electric Vehicle),
the SF90 Stradale. The new model
is extreme on every level and
represents a true paradigm shift,
because it delivers unprecedented
performance for a production car.
Figures such as 1,000 cv, and a
weight-to-power ratio of 1.57 kg/
cv, and 390 kg of downforce at
250 km/h not only put the SF90
Stradale at the top of its segment,
but also mean that a V8 is the
top-of-the-range model for the
first time the marque’s history.

The car’s name encapsulates

the true significance of all that

has been achieved in terms of

performance. The reference

to the 90th anniversary of the

foundation of Scuderia Ferrari

underscores the strong link that

has always existed between

Ferrari’s track and road cars. A

brilliant encapsulation of the most

advanced technologies developed

in Maranello, the SF90 Stradale

is also the perfect demonstration

of how Ferrari immediately

transitions the knowledge and

skills it acquires in competition

to its production cars.

DUB DRIVE GCC 2020 FROM FEB 7

Volkswagen Middle East and GCC

club members have finally revealed

dates for one of the region’s most

anticipated automotive events to

take place, Dub Drive GCC 2020.

The big reveal took place live on

the international main stage at

the world’s largest Volkswagen

gathering, Wörthersee Treffen, and

set the wheels in motion for Dub

Drive GCC 2020 to be the best

one yet. Established in 2016, Dub

Drive GCC has grown to be the

largest Volkswagen gathering in

the Middle East, with enthusiasts

attending from across the region

and globally too. The event, which

will take place from 7-8 February

2020, will begin with a closed-

roads convoy drive through the

streets of Abu Dhabi. The festival

day is filled with live music, food

trucks and insanely modified cars,

suitable for automotive enthusiasts

and families too. The Middle

Eastern automotive club scene

is fuelled by an intrinsic passion

for modifying cars and some of

the most unique found in the

region highlight the commitment

shown by owners to develop

exciting, one-of-a-kind models.

MEETHAQ’S AUTO FINANCE OFFER TO RUN TILL JULY 31