Alizz finance helps you realise your dreams

MUSCAT: Alizz Islamic Bank helps Omanis and resident expatriates make their dreams a reality and buy the goods and services that they require through a myriad of personal finance options that are based on the principles of ‘Goods Murabaha’ and ‘Service Ijarah’.

Under the ‘ Goods Murabaha’ product, which is based on the Sharia principle of ‘Murabaha’, the bank will at the customer’s request purchase Sharia- compliant goods from the authorised dealer and sell the same to the customer at an agreed price on a deferred payment basis. The advantage is that the customer knows the bank’s profit mark-up in advance.

Under the ‘Service Ijarah’ product, which is based on the Islamic finance principle of ‘Ijarah’ for the services, the bank has agreements with various service providers, whereby it leases the services required by the customer directly from the provider and subleases it to the customer on the basis of Ijarah.

Both products come with a world of benefits and features and they are open to salaried and self-employed Omani nationals and resident ex- patriates, says a press release.

Finance is available up to 100 per cent of the goods value and requires simple documentation with a fast and easy approval process. Salary transfer is mandatory.

The most important benefit is that the customer knows the profit mark-up and instalments at the time of signing the deal and before the bank purchases any Shariacompliant goods that the customer has requested.

“Personal finance is one of the many products designed to help customers buy whatever they want. We have various facilities and offer competitive rates at affordable prices,” explained Moosa Al Jadidi, chief operating officer - Alizz Islamic Bank.

“The purpose of our products is to meet our customers’ needs and make their dreams come true through our Sharia-compliant finance options. Through Murabaha, a customer can have the bank finance any electronic goods or household items that he desires. Additionally customers can avail Service Ijarah Finance for education, medical, marriage and travel.”