Bank Nizwa Offers Islamic Finance For Various Needs At Competitive Rates

Muscat, Oman – Bank Nizwa, a leading Islamic financial institution in the Sultanate, has unveiled a new financing campaign designed to offer highly competitive and affordable options for home, auto, and personal financing. This initiative underscores the bank’s commitment to providing Sharia-compliant solutions that cater to the diverse financial aspirations of its customers.

The new campaign features a special profit rate of 4.5%, coupled with flexible tenures and generous terms, making it an attractive proposition for individuals seeking to enhance their living standards. This promotion is strategically designed to encourage both citizens and residents to explore the convenience and accessibility of Islamic financing.

Driving Customer Goals and Economic Growth

Mr. Arif Al Zaabi, Assistant General Manager – Retail Banking at Bank Nizwa, emphasized the campaign’s alignment with customer needs. “Keeping our customers’ financial goals in mind, we develop innovative offers and solutions to support them,” he stated. “As customers strive toward their goals, the new campaign comes at a time when convenient payment plans are much needed. Through this campaign, we aim to enhance our customers’ financing journeys and ultimately, support the local economy.”

Mr. Al Zaabi further highlighted Bank Nizwa’s dedication to Sharia-compliant products and services, noting that the bank “walks that extra mile to fulfill its customers’ aspirations of maintaining comfortable lifestyles for themselves and their families. For customers seeking easy finance for big purchases, a competitive profit rate of 4.5% is a major boost to acquire a house or car.”

Innovation and Competitive Advantage

Introducing innovative financial solutions is a core tenet of Bank Nizwa’s strategic vision and expansion plans. This campaign aims not only to bridge financing gaps and attract new clients but also to significantly raise awareness of the bank’s distinct competitive advantages within the market. Beyond providing financing, Bank Nizwa offers benchmark services and consultations, enabling individuals to make informed choices and achieve their aspirations through its Sharia-compliant banking framework.

Revolutionizing Auto Financing with Instant Approvals

A notable innovation from Bank Nizwa, stemming from its affiliation with the Islamic Finance Initiation Network (IFIN), is its pioneering on-the-spot approval for car financing. This groundbreaking service, a first in Oman, allows customers to complete their car financing procedures directly at participating car dealerships, eliminating the need for a branch visit. This streamlined “10-minute financing process” empowers customers with instant approval, simplifying the application and saving valuable time, thereby further stimulating the automotive industry. Applicants submit their requests through a secure, web-based application accessible only by authorized retailers, with all costs transparently disclosed upfront.

Comprehensive Support Beyond Financing

Beyond financial products, Bank Nizwa distinguishes itself by offering valuable construction-related advice and consulting services. The bank employs a dedicated team of civil engineers who conduct site visits and monitor the progress of customers’ home construction, providing an added layer of support and assurance throughout the building process. This holistic approach reflects Bank Nizwa’s commitment to being a comprehensive financial partner for its customers.