18 January 2016
Muscat - Sohar Islamic, Bank Sohar's Islamic banking window, recently signed a memorandum of understanding (MoU) with Muscat Hills to provide preferential Sharia compliant financing solutions to both Omani citizens, GCC nationals and expatriates interested in investing in freehold office or residential property developed and built by the company.
The signing ceremony, which took place at the Bank Sohar Head Office in MBD, was attended by Rashad Ali al Musafir, Acting CEO and Salim Khamis al Maskari, DGM and Head of Sohar Islamic, representing Bank Sohar; and HH Sayyid al Rawy Qais al Said, CEO and Chairman, representing Muscat Hills.
Commenting on the MoU, Rashad Ali al Musafir said, "The signing of this MoU between Muscat Hills and Bank Sohar allows us to forge a mutually beneficial strategic partnership between our two institutions. It is also in-line with our strategy for Sohar Islamic that aims to reach out to a broader client base; offering our innovative yet flexible Sharia compliant financial solutions to customers looking to purchase property at Muscat Hills." Sohar Islamic's construction and home finance programme is fully compatible with Islamic Sharia law and provides a comprehensive Islamic finance solution. This product is distinguished with its affordability and flexible terms which offer financing for up to 80 per cent of the property value, with a repayment period of up to 25 years at very competitive profit rates and quick processing time. In addition, preferential profit rates are also provided to customers for the 1st and 2nd year along with the facility to takeover.
Muscat - Sohar Islamic, Bank Sohar's Islamic banking window, recently signed a memorandum of understanding (MoU) with Muscat Hills to provide preferential Sharia compliant financing solutions to both Omani citizens, GCC nationals and expatriates interested in investing in freehold office or residential property developed and built by the company.
The signing ceremony, which took place at the Bank Sohar Head Office in MBD, was attended by Rashad Ali al Musafir, Acting CEO and Salim Khamis al Maskari, DGM and Head of Sohar Islamic, representing Bank Sohar; and HH Sayyid al Rawy Qais al Said, CEO and Chairman, representing Muscat Hills.
Commenting on the MoU, Rashad Ali al Musafir said, "The signing of this MoU between Muscat Hills and Bank Sohar allows us to forge a mutually beneficial strategic partnership between our two institutions. It is also in-line with our strategy for Sohar Islamic that aims to reach out to a broader client base; offering our innovative yet flexible Sharia compliant financial solutions to customers looking to purchase property at Muscat Hills." Sohar Islamic's construction and home finance programme is fully compatible with Islamic Sharia law and provides a comprehensive Islamic finance solution. This product is distinguished with its affordability and flexible terms which offer financing for up to 80 per cent of the property value, with a repayment period of up to 25 years at very competitive profit rates and quick processing time. In addition, preferential profit rates are also provided to customers for the 1st and 2nd year along with the facility to takeover.
© Oman Daily Observer 2016
