27 January 2015
Muscat: The Sultanate's fastest growing bank - ahlibank and its Islamic counterpart 'Al Hilal Islamic Banking Services' recently entered into a Memorandum of Understanding (MoU) with the Special Economic Zone in Duqm (SEZAD) to provide banking services and finance, for investors and companies that will be establishing business ventures in Duqm. The MoU was signed on behalf of ahlibank by the CEO Lloyd Maddock and by HE Yahya bin Said bin Abdullah al Jabri, Chairman of SEZAD, at their office in Knowledge Oasis Muscat (KOM).

In the Corporate banking and SME arenas, the bank will offer working capital and term loans, lease finance, trade finance, guarantees and "B2B" electronic banking.

Lloyd Maddock, the CEO of ahlibank commented "We are pleased to  support SEZAD's vision through providing the bank's tailor made products and services to corporates and SMEs that take advantage of the unique investment platform and infrastructure at Duqm."

"At ahlibank we recognize the importance of providing businesses with innovative and specialized banking solutions, designed to fulfill their specific banking requirements. Through the MoU with SEZAD we aim to help and support investors and entrepreneurs by determining their unique financial needs and providing them with uncomplicated financial solutions at competitive prices", he added.

ahlibank offers an automated system for commercial transactions between companies (B2B banking), which makes banking more convenient. The signing of the MoU with SEZAD is in keeping with the bank's aim to encourage business entities to invest at SEZAD, and to help overcome challenges that investors usually face. Under the Memorandum, SEZAD will present the offers provided by ahlibank and Al Hilal Islamic Banking Services to potential investors.

© Press Release 2015