Alizz Islamic Bank and Oman Housing Bank have entered into a Memorandum of Understanding (MoU) to offer Shari’a-compliant auto and personal financing solutions to eligible customers of Oman Housing Bank.
This partnership marks a significant step in fostering collaboration between local banks in the Sultanate, creating a new model of integration to better serve the financial needs of Omani citizens.
This MoU marks a qualitative leap in the course of banking collaboration, enabling Oman Housing Bank customers to access flexible and competitive Islamic financing products with attractive profit rates.
This initiative enhances the diversity of financing options, improves the quality of banking services provided to citizens, and aligns with the Sultanate’s financial transformation and economic development aspirations.
The cooperation contributes to expanding the range of services offered by Oman Housing Bank by enabling its customers to access car financing and personal financing solutions through Alizz Islamic Bank. In turn, this enhances customer experience and meets diverse financing needs, particularly for Omani families seeking Shari’a-compliant financing solutions under competitive terms.
Ali Al Mani CEO – Alizz Islamic Bank
“This agreement comes as part of Alizz Islamic Bank’s commitment to supporting national development priorities and enabling citizens to access flexible and Shari’a-compliant financing solutions. We consider this partnership a strategic initiative that contributes to meeting the essential financial needs of Omani families and enhances financial stability for individuals through effective institutional integration with Oman Housing Bank.”
Al Mani further noted that the partnership reflects the bank’s vision to expand national partnerships and strengthen the role of Islamic banking in supporting the national economy, while empowering individuals to access innovative and sustainable financing solutions.
Moosa bin Masoud Al Jadidi, Chief Executive Officer of Oman Housing Bank, stated that, “This collaboration represents a milestone in Oman Housing Bank’s efforts to expand the range of financial solutions available to our customers, in line with our commitment to supporting citizens and enhancing their financial well-being.”
“Our partnership with Alizz Islamic Bank allows us to broaden access to car and personal financing solutions, enhancing customer options, service quality, and long-term financial well-being for Omani families,” Al Jadidi added.
