AIB, ARF sign MoU to finance SMEs

Muscat

Alizz Islamic Bank has signed a MoU with Al Raffd Fund in the field of financing SMEs, reported Oman Observer. The partnership will see nominated entrepreneurs of Al Raffd Fund benefiting from the services provided by Alizz Islamic Bank in the event that the amount exceeds the funding limit of the financing ceiling of the fund’s financing programmes. Yasir Sameer al Azzawi, Head of SME Banking of Alizz Islamic Bank said that the lender’s SME banking solutions assist local entrepreneurs and SMEs achieve their business goals through an array of innovative Shari’ah-compliant solutions developed by our team of experts. Alizz Islamic Bank offers Shari’ah-compliant banking solutions using Islamic contracts such as Ijarah, Murabahah, diminishing Musharakah as well as Kafalah, Wakalah, and Mudharaba.—Agencies

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