Muzn, the Islamic banking window of the National Bank of Oman (NBO), has signed a Term Wakala agreement with the Sultanate’s national carrier, Oman Air, providing long-term financing to secure assets with Shari’a-compliant financial solutions.
The agreement aims to unlock Oman’s private sector potential by providing seamless and easy banking services so that the customers can achieve their goals while ensuring the financial solutions adhere to NBO’s ethical practices.
Salima Al Marzouqi Chief Islamic Banking Office – Muzn NBO
“We are proud to support the development of Oman’s national carrier, Oman Air, and provide the flexible financial options required in this rapidly changing market. This year Muzn marked its 10-year anniversary and we will continue unleashing new potential in Oman’s corporate sector by proactively making connections.”
As the first Islamic banking window in Oman, Muzn has been at the forefront of innovative solutions in Oman’s Islamic Finance sector for more than a decade. By remaining true to its roots, Muzn has delivered the best banking experience without compromise by introducing a growing range of Islamic banking services based on the needs of customers and providing intuitive banking with convenient, headache-free Shari’a-compliant banking products that are accessible to all.
In March 2023, Oman Air Holidays partnered with Muzn to offer flexible financing plans for Umrah packages, under which guests can tailor their pilgrimage with a host of great value flight, accommodation, transport, and add-on options and pay for it in monthly installments according to the Service Ijarah concept, making it easier and more convenient to plan their long-awaited trip.
