In a strategic move that is the first of its kind in the Sultanate and in the banking sector, Alizz Islamic Bank and Oman Housing Bank signed a memorandum of understanding to provide car financing and personal finance solutions that comply with the provisions and principles of Islamic Sharia to eligible Oman Housing Bank customers, in a partnership that embodies a new model of integration between local banks in the Sultanate.

This memorandum represents a qualitative leap in the course of banking cooperation, as it enables Oman Housing Bank customers to access flexible and competitive Islamic financing products with attractive profit rates, which enhances the diversity of financing options and raises the quality of banking services provided to citizens, and keeps pace with the aspirations of financial transformation and economic development in the Sultanate .

This collaboration contributes to expanding the range of services offered by Oman Housing Bank, by providing car financing and personal finance solutions to Oman Housing Bank customers through Alizz Islamic Bank, which enhances the customer experience and meets their various financing needs, especially for Omani families looking for financing solutions that comply with Islamic Sharia and with competitive terms .

Commenting on the signing of the agreement, Mr. Ali Al Maani, CEO of Alizz Islamic Bank, said : “This agreement comes within the framework of Alizz Islamic Bank’s commitment to supporting national development priorities and enabling citizens to access flexible financing solutions that comply with the provisions and principles of Islamic Sharia. We consider this partnership a strategic initiative that contributes to meeting the basic financial needs of Omani families and enhances the financial stability of individuals through effective institutional integration with Oman Housing Bank .”

The official added that the partnership reflects the bank’s vision of expanding the scope of national partnerships and enhancing the role of Islamic banking in supporting the national economy and enabling individuals to access innovative and sustainable financing solutions .

For his part, Mr. Musa bin Masoud Al-Jadidi, CEO of Oman Housing Bank, said : “ This collaboration represents a milestone in Oman Housing Bank’s efforts to expand the range of financial solutions available to our customers, in line with our commitment to supporting citizens and enhancing their financial well-being. Our partnership with Alizz Islamic Bank allows us to broaden access to auto finance and personal finance solutions, enhancing customer choices and improving the quality of service and long-term financial well-being of Omani families .”

The memorandum of understanding is based on the successful cooperation between the two banks, particularly through their partnership within the framework of the “Housing” program, where Alizz Islamic Bank played a pivotal role in supporting the program and achieving its results, reflecting the mutual trust between the two institutions and establishing a new phase of long-term strategic cooperation .

This collaboration allows Oman Housing Bank customers to benefit from financing solutions that are flexible, competitive, and focused on customer experience, with full compliance with Sharia regulations, thereby enhancing customer confidence and increasing the spread of Islamic banking within the diverse financial services system.

Through this agreement, Alizz Islamic Bank affirms its ongoing commitment to building strategic partnerships with national institutions, contributing to the development of the financial sector and strengthening the Islamic banking system in the Sultanate, achieving sustainable added value for all parties, and supporting the goals of Oman’s future vision in financial innovation and economic sustainability .

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