Bank Nizwa offers Sharia-compliant home finance solutions for Sustainability City – Yiti



As the leading Islamic bank in Oman, Bank Nizwa has consistently endeavoured to contribute to the nation’s revenue diversification agenda.

In line with the same, the bank recently signed a Memorandum of Understanding (MoU) with Sustainable Development and Investment Company (SDIC) to offer Sharia-compliant home finance solutions to customers aspiring to buy properties at The Sustainability City – Yiti. This strategic agreement will help customers finance off-plan residential properties in the city whilst it is still under construction.

With a competitive profit rate of 4.85 per cent, Bank Nizwa seeks to make owning a home at this iconic location even more convenient, quick and secure. The Sustainable City – Yiti is set to be the first fully sustainable community in Oman, and will meet the highest standards of social, environmental and economic sustainability, with mixed housing typologies to suit different categories. The new project is also in alignment with Bank Nizwa’s core values of supporting the country’s transition to a green, circular economy whilst focusing on holistic well-being.

Commenting on the signing of the MoU, Khaled Al Kayed, Chief Executive Officer at Bank Nizwa said, “We are indeed delighted to have signed this MoU with SDIC, the company responsible for developing the Sustainable City- Yiti, one of the region’s most prominent urban development projects to embrace the principles of sustainability. This strategic initiative is congruent with Bank Nizwa’s vision of playing an instrumental role in key national projects that are shaping the future of the country. The project’s keen focus on green energy also complements Bank Nizwa’s efforts towards fostering sustainable socio-economic progress in the country through unique, industry-first products and services.”

He added saying, “As the Sultanate’s foremost Islamic bank, Bank Nizwa has established itself as a transparent, reliable and capable Sharia-compliant lender. Our actions are driven by an inherent zeal to make Islamic financing simpler, seamless and easily accessible to the community. At the same time, we constantly seek to deploy propositions that add value to the lives of our customers. — Times of oman