Bank Nizwa partners with MATC to offers Shari’a-compliant financing to its customers

 Bank Nizwa signed an agreement with Muscat Aviation Training Centre (MATC) to provide their customers with Shari’a-compliant personal financing solutions. The partnership comes in line with the bank’s long-term strategy to bring Islamic banking closer to communities by tying-up with businesses across various sectors. Signing the agreement on behalf of Bank Nizwa was Arif Al Zaabi, Assistant General Manager Retail Banking and Capt. Hamed A. Al Jabri, Founder and CEO of Muscat Aviation Training Centre.

Under the agreement, Bank Nizwa will offer its personal finance product to the customers of Muscat Aviation Training Centre who wish to avail of Shari’a-compliant financing. The bank’s product provides needed funds with competitive profit rates and flexible repayment periods based on the Shari’a concept of Murabaha/Ijara. In addition to financing, customers will also enjoy a host of value-added benefits and services on their salary accounts.

Arif Al Zaabi, Assistant General Manager Retail Banking of Bank Nizwa said, “We are committed to redefine the banking experience for the people in Oman by offering tailored and innovative Shari’a-based products and services. As a pioneer Islamic institution, we operate with a long-term plan to drive maximum benefits from the bank’s host of products and services to a wide range of stakeholders.”

Capt. Hamed A. Al Jabri, Founder and CEO of Muscat Aviation Training Centre said, “We believe that Islamic finance is a flexible tool that can be leveraged in various industries, especially ours. Our agreement with Bank Nizwa is an extension to the great services we provide to our valuable customers.”

Muscat Aviation Training Center (MATC) is the first approved training centre in the Sultanate of Oman, recognized by the European Aviation Safety Agency (EASA). Founded in 2017 by Founder and CEO, Capt. Hamed A. Al Jabri, it delivers a groundbreaking initiative that aims to put Oman on the global aviation training centers’ map.

Muscat Aviation Training Center is an institution that covers every aspect of the aviation industry; pilots, cabin crew, ground staff, dispatchers, airport drivers and many more.