muzn offers islamic financing solutions at lower cost for customers

Muzn, National Bank of Oman’s (NBO) Islamic banking window, has recently announced its competitive rate of 4.45% on financing to meet customers’ financial needs. Moreover, instalments for the first two months of financing can be deferred as well. Muzn’s finance offerings aim to support customers’ dreams and needs, whether they are looking to buy a new car, build their own home, invest in their children’s education or require personal lines of credit for travel, medical expenses and other priorities.  

Salima Al Marzoqi, Assistant General Manager - Chief Islamic Banking Officer, said, “Our Shari’a compliant and secure finance services comprise a range of innovative and affordable solutions, ranging from auto finance tied to buying a car, home or education finance to name a few. Our products and services enable customers to achieve their dreams and objectives without having to compromise their core Islamic values. We are committed to delivering a seamless customer experience at scale, while when it comes to larger buying processes, we aim to engage with our customers at all stages of their important decision journey.” 

Both Omani citizens and residents are eligible for a variety of Muzn’s financing options, provided they earn a monthly salary of at least OMR 300 or more and meet all other terms and conditions. Consumers who will consider Housing Finance or Personal Finance Takeover, a competitive profit rate of 4.45% on salary transfer will apply. The rate is subject to Bank's rack rates for the following years without increasing the installment, while the tenor will increase. A discounted rate of 4.45% on a salary of OMR 300 or higher applies to Islamic Personal Finance options which include Auto Finance, Consumer Goods, and Education Finance.

Marking its tenth anniversary this year, Muzn was established in 2013 as the first Islamic banking window in Oman. Ever since its inception, it has been committed to fostering the development of the Sultanate’s Islamic Finance sector. Muzn provides a full suite of innovative and high-quality digital banking solutions that keep pace with the needs of its customers of all demographics, whether young or adult, Omani or expat, private or premium, individual or corporate. To find out more about Muzn Islamic Banking’s range of services and products, call 24770001 or visit www.muzn.om.