26 May 2015
Muscat: alizz Islamic bank has announced the launch of its all new term investment deposit campaign for the second quarter of 2015 to assist customers in investing their funds through Sharia-compliant products.
The new campaign encourages customers to invest their funds through flexible, short and long term investments with attractive returns based on the sharia principle of Unrestricted Mudaraba.
As part of this campaign, the bank offers its customers profit payment on a flexible quarterly basis and an optional automatic renewal of the principle amount. The product is available in multiple currencies with a minimum deposit amount of OMR400.
Moosa Al Jadidi, deputy general manager and head of retail banking at alizz Islamic bank, while commenting on the campaign, said, "Our Term Investment Deposit account is an ideal option for customers who are looking for peace of mind by investing in compliance with sharia principles."
"At alizz Islamic bank we have a competitive advantage, as we offer cutting-edge products and services that allow our customers to experience a unique and secured banking experience," he added.
Under the Mudaraba principle, the customer provides the capital to be invested for a fixed period, and using its expertise, the bank acts as a Mudarib or 'entrepreneur'.
The bank pools all customer funds along with its own capital and invests it in sharia compliant investments for a specified investment term and expected profit rate. The resulting profit is shared between the bank and its customers according to predetermined mutually agreed ratios.
Muscat: alizz Islamic bank has announced the launch of its all new term investment deposit campaign for the second quarter of 2015 to assist customers in investing their funds through Sharia-compliant products.
The new campaign encourages customers to invest their funds through flexible, short and long term investments with attractive returns based on the sharia principle of Unrestricted Mudaraba.
As part of this campaign, the bank offers its customers profit payment on a flexible quarterly basis and an optional automatic renewal of the principle amount. The product is available in multiple currencies with a minimum deposit amount of OMR400.
Moosa Al Jadidi, deputy general manager and head of retail banking at alizz Islamic bank, while commenting on the campaign, said, "Our Term Investment Deposit account is an ideal option for customers who are looking for peace of mind by investing in compliance with sharia principles."
"At alizz Islamic bank we have a competitive advantage, as we offer cutting-edge products and services that allow our customers to experience a unique and secured banking experience," he added.
Under the Mudaraba principle, the customer provides the capital to be invested for a fixed period, and using its expertise, the bank acts as a Mudarib or 'entrepreneur'.
The bank pools all customer funds along with its own capital and invests it in sharia compliant investments for a specified investment term and expected profit rate. The resulting profit is shared between the bank and its customers according to predetermined mutually agreed ratios.
© Times of Oman 2015
