islamic finance

Muzn Islamic Banking records 24% rise in net profit

March 28, 2022

Muscat: Muzn, National Bank of Oman’s Islamic Banking window, has released its financial results for 2021, recording a strong performance with a 24 per cent increase in net profit and a 5.73 per cent growth in customer financing.

With a focus on innovation and digital banking, its 2021 strategy included several new product launches such as the DM Personal Finance and the investment referral program. The bank was also active with a range of socio-economic activities, including most recently th

“Muzn has been cementing itself as a pioneer in a rapidly developing market, and we continue to set benchmarks for innovative, competitive and quality services. Our performance in 2021 exceeded our forecasts, a testament to our leadership in digital innovation and our efforts to exceed our customer's evolving expectations,” said Salima Al Marzouqi, Chief Islamic Banking Officer. “As Muzn continues to build on its milestones achieved over the last nine years, we are tapping into the tremendous potential for growth that Islamic banking offers and our strong financial performance provides us with a strong step-off point for 2022.”


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