February, Muscat: Committed to providing cutting edge banking solutions, the Sultanate of Oman’s leading Islamic bank, Bank Nizwa’s Buyout offering allows customers to seamlessly transfer their loans and financing acquisition products to the bank, and benefit from a distinctive banking experience that is compliant with Islamic Sharia principles. The buyout facility encompasses all financing products such as personal and housing finance from both Islamic and conventional banks.
It is worth noting that customers seeking to benefit from Buyouts will be granted exclusive advantages, including a competitive profit rate of 5% and a waiver on the Titanium credit card annual subscription fees for the first year. In addition, customers can also avail a repayment grace period of 12 months for loans transferred from conventional banks.
Commenting on the offering, Mr. Mohamed AlGhassani, Deputy General Manager – Retail Banking at Bank Nizwa said, “The Buyout Facility is a unique product that demonstrates our commitment to meeting the diverse financial needs of our customers. We strive to empower individuals by offering them a comprehensive solution to manage their financial commitments effectively. By consolidating personal loans and finances, we aim to alleviate the burden of multiple repayments and provide a simplified approach to financial management.”
He added, “At Bank Nizwa, we understand that managing finances can be overwhelming and time-consuming. Therefore, the Buyout Facility serves as a practical tool that enables our customers to streamline their financial obligations, ultimately fostering a sense of control and stability in their financial journey, and affording them peace of mind.”
Bank Nizwa has always prioritized customer-centric products and services that align with Islamic finance principles, and the Buyout Facility’s competitive profit rate is yet another testament to the bank’s dedication to empowering customers with Sharia-compliant solutions.
Through its comprehensive suite of banking and financial solutions, Bank Nizwa endeavours to foster financial inclusivity whilst adhering to the highest ethical standards. Furthermore, the bank stands out for its integration of the latest advanced technologies in all its banking operations, such as digital onboarding services through its robust mobile application. Additionally, its network of branches spread across the country makes the bank’s unparalleled banking and financial solutions easily accessible to all. The bank’s commitment to innovation and excellence continues to position it as a trusted financial partner in the region.