islamic finance

Alizz Islamic signs pact with Zain Property Development to provide home financing solutions

May 5, 2021

MUSCAT: Within the framework of its commitment to provide home purchase finance options to various segments of the society, Alizz Islamic Bank recently signed a cooperation agreement with Zain Property Development. As part of the agreement Alizz Islamic Bank will offer home financing solutions for those wishing to buy homes in the residential complexes that are being developed by Zain Property Development.

The agreement was signed by Jamil Abdul Qader al Zadjali, AGM, Head of Retail Business, Alizz Islamic Bank and Mesh’aal bin Mohammed al Raisi, Managing Director, Zain Property Development at a signing ceremony that was held at the headquarters of Alizz Islamic Bank in the Central Business District in Ruwi.

Alizz Islamic Bank will provide financing facilities, flexible payment options and fast and smooth procedures for customers of Zain Property Development projects including Al Muna Gardens, Zain Al Athaiba, as well as Zain Al Khuwair. The company has developed these complexes using pioneering engineering methods. The contemporary projects include a number of residential units, starting from one, two and three bedrooms and offices and shops. They are also closely located to all major commercial and shopping centres.

Elaborating on the signing, Jamil Abdul Qader al Zadjali, AGM-Head of Retail Business at Alizz Islamic Bank, said “We are pleased to be one of the main partners of Zain Property Development in providing financial solutions that are compatible with Islamic Shari'a. The signing of this agreement is in line with the strategy of Alizz Islamic Bank that aims to expand its partnership with various real estate development companies in the Sultanate to contribute in strengthening and diversifying the local economy. This agreement will create the opportunity for Zain Property Development customers to choose the appropriate financing solutions through Alizz Islamic Bank.”

Mesh’aal bin Mohammed al Raisi, Managing Director of Zain Property Development, said: “We are pleased to sign this agreement with Alizz Islamic Bank, which provides a variety of financing products and services that meet the needs of individuals, institutions and companies. It will allow us the flexibility and smoothness to facilitate the completion of transactions. This agreement will provide us with the means to continue achieving accomplishments in building modern and futuristic residential complexes.”

omanobserver

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