Muscat: Continuing to provide comprehensive banking solutions to a
wider customer base, ahli Islamic has announced the expansion of its financing services to its retail client segment, which has working capital requirements for commercial purposes.
The bank will offer commercial financing solutions up to OMR 250,000, in an
the effort to support its business-owner customers, enabling them to develop their projects
and achieve their future goals, by catering to their financial needs.
Making the announcement, Mr. Yousuf Al Rawahi, DGM, and Head of ahli Islamic said,
“The widespread idea of obtaining financing from Islamic banks is evident of a huge
an opportunity that Oman’s banking industry holds. Hence, we believe it was imperative to
allocate an Islamic financing program that caters to the needs of diverse customer
segments, especially for our existing retail customers who have immediate fund needs
for their commercial establishments.”
“ahli Islamic commercial financing for this segment reaffirms our commitment to a
customer-first approach and to the fact that we assess customer feedback to
continuously provide enhanced products and services. A key highlight in this approach
is that the Islamic bank gives opportunity to obtain funding by the
Islamic Shariah rules and laws, which is gaining immense popularity in the Omani
market, especially with young people and new investors,” he added.
Under the new proposition, ahli Islamic offers funding solutions at competitive rates,
based on the principle of Shariah-compliant Murabaha, for Vehicles financing which will
be used commercially such as taxis, renting, etc. The bank also enables its clients to
avail Murabaha for goods and assets such as machines or equipment used for business
purpose, and diminishing Musharaka for vehicles, which will be used commercially.
To enhance the ability of its clients, ahli Islamic provides individuals with the opportunity
to have Ijara MBT and DM cum Ijara for land, real estate assets, and construction assets
which will be used for renting or sale purposes. Additionally, the bank provides Ijara
services whereby the subject of financing will be used for commercial purposes.
The commercial finance program is offered exclusively to those customers who transfer
their salaries to ahli Islamic and who fall under ahli Islamic’s accredited institutions’ list.
The minimum salary requirement to avail the finance is OMR 500/- for public sector
employees and OMR 750/- for the private sector employees.
Omani nationals wishing to benefit from this program are required to have at least 21
years of age, with funding to be provided for up to 7 years through Murabaha, and up to
12 years for Ijara MBT and Diminishing Musharaka. Funding will include 80% for
commercial equipment, vehicles, and real estate, and 100% for goods and services.
ahli Islamic has played a pivotal role in the economic and social development of
individuals and society and has been able to become one of the fastest-growing Islamic
banks in the Sultanate.
The bank continues its commitment to the Islamic approach in
all its banking operations, focusing on achieving customers’ and stakeholders’ interests
in keeping with the changing world. ahli Islamic also endeavors to make greater use of
its technical capabilities and provide high-quality solutions, to ensure convenience and a
secure, seamless banking environment for its account holders.
