Bank Nizwa offers Sharia-compliant financing to Muscat Aviation Training Centre customers
MUSCAT: Bank Nizwa signed an agreement with Muscat Aviation Training Centre (MATC) to provide their customers with Shariacompliant personal financing solutions. The partnership comes in line with the bank’s long-term strategy to bring Islamic banking closer to communities by tying-up with businesses across various sectors.
Signing the agreement on behalf of Bank Nizwa was Arif Al Zaabi, Assistant General Manager Retail Banking and Capt. Hamed A. Al Jabri, Founder and CEO of Muscat Aviation Training Centre. Under the agreement, Bank Nizwa will offer its personal finance product to the customers of Muscat Aviation Training Centre who wish to avail of Sharia-compliant financing. The bank’s product provides needed funds with competitive profit rates and flexible repayment periods based on the Sharia concept of Murabaha/ Ijara. In addition to financing, customers will also enjoy a host of value-added benefits and services on their salary accounts.
Arif Al Zaabi, Assistant General Manager Retail Banking of Bank Nizwa said: “We are committed to redefine the banking experience for the people in Oman by offering tailored and innovative Sharia-based products and services. As a pioneer Islamic institution, we operate with a long-term plan to drive maximum benefits from the bank’s host of products and services to a wide range of stakeholders.”
Capt. Hamed A. Al Jabri, Founder and CEO of Muscat Aviation Training Centre said: “We believe that Islamic finance is a flexible tool that can be leveraged in various industries, especially ours. Our agreement with Bank Nizwa is an extension to the great services we provide to our valuable customers.”
Bank Nizwa, started operations in 2013 to empower customers with a unique banking experience. The bank has been effectively adapting innovative Shari’a-compliant products and services with today’s dynamic financial requirements of all customers with a special attention to the most discerning ones.