NBO Muzn Islamic Banking introduces corporate running Wakala Financing solution
MUSCAT: The National Bank of Oman (NBO) Muzn Islamic Banking has launched its innovative Corporate Running Wakala Finance Product, offering a Shariah-compliant alternative to conventional overdraft facilities. This solution empowers businesses of all sizes by addressing their critical working capital needs, receivable financing, and other funding requirements.
Commenting on this milestone, Salima Al Marzooqi, Assistant General Manager & Chief Islamic Banking Officer at NBO, said: 'At Muzn, we continuously strive to enhance Shari'a-compliant products to meet the evolving needs of our corporate clients. The Corporate Running Wakala Financing solution is a testament to our dedication to offer innovative and ethical financial services. This product caters to businesses seeking Sharia-compliant alternatives to conventional banking products. We are proud to support all businesses in Oman by providing flexible solutions that align with their operational and financial goals.'
The solution offers several key benefits that make it a unique option for corporate clients. The product enables financing for a wide range of short-term requirements, including cash flow management and liquidity needs. Additionally, the financing process is simple and transparent, designed to support business requirements effectively.
This innovative offering underscores Muzn Islamic Banking's commitment to pioneering Islamic financial solutions that tackle real-world corporate challenges. It provides clients with a flexible arrangement, allowing them to focus on their core operations while benefiting from an efficient financial partnership. NBO Muzn leads the way in making its offerings widely accessible to benefit Oman's corporate sector.
For further details on NBO Muzn's corporate banking solutions, please visit www.muzn.om, contact our customer service at 24770001, or use the user-friendly NBO Muzn Islamic Banking App.
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