Latest news with #MuznIslamicBanking
Mid East Info
26-05-2025
- Business
- Mid East Info
Muzn Islamic Banking Strengthens Support for Oman's Housing Vision through Developer Partnerships - Middle East Business News and Information
26 May 2025, Muscat: NBO Muzn Islamic Banking has announced the signing of two Memoranda of Understanding (MOUs) with Sohar Real Estate Development LLC to support the Hai Majd Project and Zain Property Development LLC to support Husn Al Zain Project. The agreements enable Muzn Islamic Banking to provide Shari'a-compliant home financing solutions to eligible customers purchasing properties developed under the Sorouh Initiative for Integrated Residential Neighbourhoods. Formalised by officials from the Ministry of Housing and Urban Planning, the National Bank of Oman (NBO), and the respective developers; the agreements were signed by Abdullah Zahran Al Hinai, Chief Executive Officer of NBO, Mahmood Al Mandhari, CEO of Sohar Real Estate Development LLC, and Mish'al Al Raisi, Managing Director of Zain Property Development LLC. Commenting on the agreements, Salima Obaid Issa Al-Marzoqi, Assistant General Manager and Chief Islamic Banking Officer at NBO, stated, 'These partnerships mark a significant milestone in our efforts to deliver accessible, Shari'a-compliant housing solutions. Muzn Islamic Banking is committed to empower individuals and families across Oman with ethical financing options that align with their values. Through our collaboration with trusted developers and MOHUP, we are proud to support the government's vision of sustainable urban communities.' The Sorouh Initiative, spearheaded by the Ministry of Housing and Urban Planning, aims to provide integrated residential communities across Oman through partnerships with the private sector. Muzn Islamic Banking's role in this initiative underscores its ongoing support for national development priorities and its focus on delivering innovative Islamic financial products and services.
Zawya
26-05-2025
- Business
- Zawya
Muzn Islamic Banking strengthens support for Oman's housing vision through developer partnerships
Muscat: NBO Muzn Islamic Banking has announced the signing of two Memoranda of Understanding (MOUs) with Sohar Real Estate Development LLC to support the Hai Majd Project and Zain Property Development LLC to support Husn Al Zain Project. The agreements enable Muzn Islamic Banking to provide Shari'a-compliant home financing solutions to eligible customers purchasing properties developed under the Sorouh Initiative for Integrated Residential Neighbourhoods. Formalised by officials from the Ministry of Housing and Urban Planning, the National Bank of Oman (NBO), and the respective developers; the agreements were signed by Abdullah Zahran Al Hinai, Chief Executive Officer of NBO, Mahmood Al Mandhari, CEO of Sohar Real Estate Development LLC, and Mish'al Al Raisi, Managing Director of Zain Property Development LLC. Commenting on the agreements, Salima Obaid Issa Al-Marzoqi, Assistant General Manager and Chief Islamic Banking Officer at NBO, stated, 'These partnerships mark a significant milestone in our efforts to deliver accessible, Shari'a-compliant housing solutions. Muzn Islamic Banking is committed to empower individuals and families across Oman with ethical financing options that align with their values. Through our collaboration with trusted developers and MOHUP, we are proud to support the government's vision of sustainable urban communities.' The Sorouh Initiative, spearheaded by the Ministry of Housing and Urban Planning, aims to provide integrated residential communities across Oman through partnerships with the private sector. Muzn Islamic Banking's role in this initiative underscores its ongoing support for national development priorities and its focus on delivering innovative Islamic financial products and services. For more information on Muzn Islamic Banking home financing solutions, customers can contact Muzn Islamic Banking customer service at 24770001 or visit
Mid East Info
24-04-2025
- Business
- Mid East Info
NBO Muzn Islamic Banking orouh Initiative with Three Strategic MOUs
24rd April 2025, Muscat – NBO Muzn Islamic Banking has announced signing Memorandums of Understanding (MOUs) with three leading real estate developers to facilitate Shari'a-compliant housing finance solutions for Omanis under Oman's national housing scheme. The agreements were signed by Abdullah Zahran Al Hinai, Chief Executive Officer of NBO, Faisal Al Wahaibi, General Manager & Chief Retail and Digital Banking Officer at NBO, Mundhir Abdullah Al Hammadi, Chief Executive Officer of Al Daham Real Estate, Ahmed Hamed Al Sabhi, Chairman of Al Masa Real Estate, and Dr. Thomas Alexander- Chief Executive Officer of Adrak Developers, at NBO Head Office in Azaiba. The signings reflect Muzn Islamic Banking's commitment to enable affordable home ownership through strategic partnerships and Shari'a compliant financial solutions. The MOUs were signed with Al Masa Real Estate for the development of the Hayy Al Azm Project, with Al Daham Real Estate for the Hay Al Sumu Project, and with Adrak Developers LLC for two projects the Yenaier and Hai Al Naseem. These projects are part of integrated mixed-use developments under the Ministry of Housing and Urban Planning's Sorouh initiative. The initiative aims to support national housing policies by reducing land demand and offering eligible citizens high-quality, affordable residential alternatives. Salima Al Marzooqi, Assistant General Manager & Chief Islamic Banking Officer at NBO Muzn Islamic Banking commented, 'Our support for the Sorouh initiative reflects Muzn Islamic Banking's continued commitment to advancing national development goals. These partnerships aim to empowering citizens with housing solutions while adhering to our core values of trust, transparency and Shari'a compliance.' Through these partnerships, Muzn Islamic Banking will provide eligible Omani citizens with streamlined access to housing finance that is fully compliant with Shari'a principles. The agreements ensure the rights of all stakeholders, including the bank, developer and customer, are protected and offer a transparent structure to support end-to-end financing.
Zawya
24-04-2025
- Business
- Zawya
NBO Muzn Islamic Banking Sorouh initiative with three strategic MoUs
Muscat – NBO Muzn Islamic Banking has announced signing Memorandums of Understanding (MOUs) with three leading real estate developers to facilitate Shari'a-compliant housing finance solutions for Omanis under Oman's national housing scheme. The agreements were signed by Abdullah Zahran Al Hinai, Chief Executive Officer of NBO, Faisal Al Wahaibi, General Manager & Chief Retail and Digital Banking Officer at NBO, Mundhir Abdullah Al Hammadi, Chief Executive Officer of Al Daham Real Estate, Ahmed Hamed Al Sabhi, Chairman of Al Masa Real Estate, and Dr. Thomas Alexander- Chief Executive Officer of Adrak Developers, at NBO Head Office in Azaiba. The signings reflect Muzn Islamic Banking's commitment to enable affordable home ownership through strategic partnerships and Shari'a compliant financial solutions. The MOUs were signed with Al Masa Real Estate for the development of the Hayy Al Azm Project, with Al Daham Real Estate for the Hay Al Sumu Project, and with Adrak Developers LLC for two projects the Yenaier and Hai Al Naseem. These projects are part of integrated mixed-use developments under the Ministry of Housing and Urban Planning's Sorouh initiative. The initiative aims to support national housing policies by reducing land demand and offering eligible citizens high-quality, affordable residential alternatives. Salima Al Marzooqi, Assistant General Manager & Chief Islamic Banking Officer at NBO Muzn Islamic Banking commented, 'Our support for the Sorouh initiative reflects Muzn Islamic Banking's continued commitment to advancing national development goals. These partnerships aim to empowering citizens with housing solutions while adhering to our core values of trust, transparency and Shari'a compliance.' Through these partnerships, Muzn Islamic Banking will provide eligible Omani citizens with streamlined access to housing finance that is fully compliant with Shari'a principles. The agreements ensure the rights of all stakeholders, including the bank, developer and customer, are protected and offer a transparent structure to support end-to-end financing. For more information on Muzn's Islamic housing finance solutions, visit or call 24770001.
Mid East Info
15-04-2025
- Business
- Mid East Info
Muzn Offers Exclusive 50% Discount on talabat for Credit Cardholders - Middle East Business News and Information
15 April, 2025 Muscat: NBO Muzn Islamic Banking has announced that it offers its credit cardholders a 50% discount on talabat orders. This initiative, which will run until April 30th, 2025, enhances customer benefits while promoting hassle-free digital payments. With this campaign, Muzn Islamic Banking aims to provide added convenience to customers by encouraging streamlined digital transactions. Cardholders can enjoy effortless payments and instant savings when using their Muzn Islamic Banking Credit Card on the talabat app, ensuring a rewarding banking experience. Salima Obaid Issa Al-Marzoqi, Assistant General Manager and Chief Islamic Banking Officer said, 'At Muzn Islamic Banking, we continuously strive to enhance our customers' financial experiences with meaningful and practical benefits. Our partnership with talabat reflects our commitment to providing seamless, value-driven banking solutions that cater to evolving customer needs.' Stephane Berton, Managing Director of talabat Oman said, 'We are excited to offer customers even greater value through the exclusive partnership with Muzn Islamic Banking. With a 50% discount on talabat orders, we aim to reward our loyal customers while ensuring seamless and convenient experiences.' The campaign promotes credit card usage, boosts customer engagement, and attracts new customers seeking additional advantages in their banking experience. By integrating value-driven digital payment options, Muzn Islamic Banking strengthens its position as a leading Islamic banking provider that prioritises customer satisfaction. To benefit from this offer, customers can use their Muzn Islamic Banking Credit Cards when placing orders on talabat. The discount is automatically applied upon payment, ensuring a smooth and effortless experience. For more details on Muzn's exclusive talabat offer, visit the nearest Muzn Islamic Banking branch, explore digital banking channels, call 24770001 or visit
