Alizz offers attractive financing options with exciting features
MUSCAT: Alizz Islamic Bank continues to deliver personal finance solutions to help customers meet their different needs and pursue their aspirations.
With ‘ Goods Murabaha’ and ‘Service Ijarah’ options, customers can file a financing application to cover a domestic scholarship, Haj and Umrah trips, travel, marriage, furniture, electric and household appliances and many more at competitive profit rates. The financing options come in line with the bank’s plans to offer myriad facilities and Shariabased products to valued customers, says a press release.
‘Service Ijarah’ helps customers fund personal education while ‘Goods Murabaha’ enables them to purchase various goods. The application process is simple. The customer files an application accompanied by a written quotation for the goods the customer wishes the bank to finance. The bank will, based on this request, purchase the goods from the vendor and sell the same back to the customer at mutually agreed profit mark-up and deferred instalments.
The price of sale represents the original price of merchandise plus the agreed profit.
The applications will be processed in line with the Sharia principles by dedicated employees who are well-trained to deliver premium services.
The personal finance options come with various features and benefits. They are open to Omani nationals and resident expatriates; both salaried and self-employed individuals.
Financing up to 100 per cent of service value is available, and the documentation process includes fast and easy approval.
To benefit from the financing options, customers need to ensure salary transfer to any of the bank’s branches across the Sultanate. The minimum salary required is only OMR300 for government employees and OMR350 for employees of the private sector.
Moosa Al Jadidi, deputy general manager and head of Retail Banking, Alizz Islamic Bank, said: “Customer care at Alizz is a top priority. We have designed these financing options to meet the needs of different segments of the society. This is part of our policy to help customers pursue their aspirations to study, travel, get medical treatment and even get married.”
The educational finance option allows customers to get up to OMR25,000 through ‘Service Ijarah’ with settlement period extending up to 60 months.
Payments will be made directly to the educational institution based on the official tuition fee schedule. All the bank’s products are approved by the Sharia Supervisory Board. Alizz delivers over 25 Sharia-compliant products that satisfy the needs of persons and businesses.