Maisarah named ‘Islamic Bank of the Year’ for 2015

Maisarah reaffirms its position as one of the leading and fastest growing Islamic banking institutions in Oman by winning a prestigious international award

MUSCAT: Continuing to thrive and going from strength to strength, Maisarah Islamic Banking Services has been announced the winner of ‘Islamic Bank of the Year - Oman’ award for 2015 by The Banker magazine.

Leading the Islamic banking sector in Oman, the competitive and fast-growing financial services provider has been selected among Islamic finance institu- tions in the Sultanate after achieving striking growth figures since its launch in 2013. Maisarah has demonstrated a high degree of product and service innovation as well as strong activity in Oman’s burgeoning Islamic banking market, says a press release.

Maisarah has witnessed yearon-year remarkable capital, assets and profitability growth since its launch. More impressively, the bank has generated a suite of 15 financing products and services geared towards individuals, corporate and government institutions.

“Since launch of Maisarah Islamic Banking Services two years ago, we set our vision to be the best financial services and solu- tions provider in the Sultanate of Oman, and we have taken concrete steps in that direction. Our team of dedicated and highly qualified professionals offers a wide array of banking solutions through innovative products and services,” says Sohail Niazi, Maisarah’s chief Islamic banking officer.

Maisarah’s success in Oman has translated into tremendous growth in customers since its launch, in conjunction with significant growth in financing provided across its business segments. More notably, Maisarah has taken a leading role in providing financing solutions to corporate, small and medium-sized enterprises.

Significant progress has also been made with respect to product and services development. Maisarah offers a number of trade finance services and treasury products, as well as an award-winning corporate overdraft facility based around the principle of Mudaraba.

Maisarah’s retail operations are based out of four dedicated branches located in Azaiba, Birkat Al Mouz, Salalah and Sohar. In 2015, the Islamic window plans to expand its presence across the country through the addition of new branches. This is in addition to a 24-hour call centre, cash deposit machines and ATMs located across the Sultanate.

“As a part of our operational strategy, we have maintained high standards of corporate governance, research and development, corporate social responsibility and customer service that placed Maisarah at the top of the best Islamic banking services providers in the country,” added Sohail Niazi.

As part of its future growth plan, Maisarah aims to distinguish itself by focusing on providing outstanding customer service, developing and launching new products, investing in technology to provide the best customer experience in timely and convenient manner.