alizz islamic bank offers omantel Innovative banking products

Press release
Published December 1st, 2013 - 10:36 GMT
alizz islamic bank signs MoU with Omantel
alizz islamic bank signs MoU with Omantel

alizz islamic bank, one the first dedicated Islamic banks in Oman, signed a Memorandum of Understanding (MoU) with the Oman Telecommunications Company (Omantel). Acting CEO of alizz islamic bank, Jamal Darwiche and VP Human Resources at Omantel, Dr. Ghalib bin Saif Al Hosni signed the MoU that will provide Omantel employees with innovative Shari’a compliant financial solutions. 

Commenting on the signing, Mr. Darwiche said, “The MoU with Omantel is in line with our strategy to offer Shari’a compliant financial solutions to our customers. Through this strategic partnership, employees will enjoy our customer journey and the convenience of technologically advanced banking through our transparent processes. Our business relationship with Omantel goes beyond offering products; as we seek to identify areas of growth by recommending practical and cost-effective investment opportunities.” 

“This MoU signed between Omantel and alizz islamic bank will help us deepen our understanding of Islamic banking concepts and practices. It further reflects our commitment to offer Omantel employees the best available products and services the Islamic banking sector has to offer. We seek to identify initiatives that enhance the privileges of being an Omantel employee,” said Dr. Al Hosni. 

Employees of Omantel will benefit from deposit products such as the current (Qard Hassan), savings (Mudaraba) accounts, as well as competitive financing products that range from auto finance (Murabaha), home finance (Ijara and Forward Ijara) and personal finance (Goods Murabaha and Services Ijara). alizz islamic bank is also the first full-fledged Shari’a compliant bank in Oman to offer both the Titanium and Platinum credit cards.

Background Information

alizz islamic bank

Alizz Islamic Bank (SAOG) was established in accordance to Royal Decree No. 69/2012 which amended the banking law to include Islamic banking at licensed banks through either specialized banks or independent entities at the existing commercial banks.

Founded in November 2012, Alizz Islamic Bank provides retail and corporate finance through branches, online (, and mobile devices. Alizz Islamic Bank is here to deliver exceptional and sustainable results to our stakeholders by providing superior Shari'a compliant financial solutions.

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