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Monday, 2 December 2013

Alizz islamic bank offers omantel Innovative banking products

Alizz islamic bank, one the first dedicated Islamic banks in Oman, signed a Memorandum of Understanding (MoU) with the Oman Telecommunications Company (Omantel). Acting CEO of alizz islamic bank, Jamal Darwiche and VP Human Resources at Omantel, Dr. Ghalib bin Saif Al Hosni signed the MoU that will provide Omantel employees with innovative Shari’a compliant financial solutions. 
Commenting on the signing, Mr. Darwiche said, “The MoU with Omantel is in line with our strategy to offer Shari’a compliant financial solutions to our customers. Through this strategic partnership, employees will enjoy our customer journey and the convenience of technologically advanced banking through our transparent processes. Our business relationship with Omantel goes beyond offering products; as we seek to identify areas of growth by recommending practical and cost-effective investment opportunities.” 
“This MoU signed between Omantel and alizz islamic bank will help us deepen our understanding of Islamic banking concepts and practices. It further reflects our commitment to offer Omantel employees the best available products and services the Islamic banking sector has to offer. We seek to identify initiatives that enhance the privileges of being an Omantel employee,” said Dr. Al Hosni. 
Employees of Omantel will benefit from deposit products such as the current (Qard Hassan), savings (Mudaraba) accounts, as well as competitive financing products that range from auto finance (Murabaha), home finance (Ijara and Forward Ijara) and personal finance (Goods Murabaha and Services Ijara). alizz islamic bank is also the first full-fledged Shari’a compliant bank in Oman to offer both the Titanium and Platinum credit cards.
(Albawaba Business / 01 Dec 2013)
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