Oman’s newest Islamic bank, alizz islamic bank is now open for business, offering a full range of Shari’ah-compliant personal and business banking solutions.
The bank’s flagship branch, located in alizz Tower in the Central Business District (CBD), was officially inaugurated by HE Hamood Sangour Al Zadjali, the Executive President of the Central Bank of Oman (CBO) at a ceremony attended by HH Sayyid Taimur bin As’ad bin Tarik Al Said, Chairman of alizz islamic bank.
“It is with a great sense of pride and accomplishment that we open the Sultanate’s newest full-fledged Islamic Bank with the aim of bringing greater prosperity to the people of Oman,” expressed His Highness. “I would like to take this opportunity to extend my most sincere gratitude to His Majesty Sultan Qaboos bin Said for his great vision and guidance. I would also like to thank the dedicated employees at alizz islamic bank.”
In a press conference held to commemorate the opening, Jamal Darwiche, Acting CEO of alizz islamic bank said, “We are delighted to open after months of meticulous planning. Our entire proposition revolves around offering a differentiated and enriching experience and creating synergies across our various products and services. This even applies to how we operate as an organisation and our holistic approach to customer service.”
Darwiche went on to explain that alizz islamic bank provides comprehensive personal and business Islamic banking products and services segmented into deposit products, asset products, corporate banking and treasury to meet the needs of every customer. It is the first full-fledged Islamic bank in Oman to offer Shari’ah-compliant Titanium and Platinum credit cards with a host of privileges and benefits such as shopping discounts, exclusive offers and VIP airport lounge access.
New customers will be able to receive their instant debit cards as well as a ten-leaf cheque book, to begin enjoying the services straight away. The bank has also introduced free online banking, mobile banking and SMS alerts for all accounts. A mobile banking application for smartphones and tablet devices is scheduled to be launched in the near future to keep customers in control of their money on the go.
alizz islamic bank’s deposit products include a current account based on the concept of ‘Qard-Hassan’, allowing customers instant access to their money in multiple currencies, using their international debit card at over 35.9 million outlets worldwide and 2.5 million ATMs using the MasterCard Network. Customers can grow their money using the Mudaraba based Savings Account and Term Investment Deposit.
Customers can also avail an array of financing products such as Auto Finance (Murabaha), Home Finance (Ijarah and Forward Ijarah), Personal Finance (Goods Murabaha and Services Ijarah).
“We provide Shari’a compliant financial solutions for Corporate, Small and Medium Enterprise (SME) business, Government and Individual Customers. Our focus is on business requirements driven by industry insight, superior technology and highest commitment to exceptional and responsive customer service,” added Darwiche.
The portfolio of products and services offered by alizz islamic bank have been approved by the Fatwa and Shari’a Supervisory Board in accordance with Omani law and CBO regulations governing Islamic Banking in Oman. The bank will utilize specialist Oracle FLEXCUBE Universal Banking and NCR customer service platforms to manage banking transactions designed to evolve with changing customer needs.
*This article was published by CPI Financial. Read the original article here.