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| Source: Bank Nizwa. |
Nasser Al Sheibani, CFO and Acting CEO at Al Mouj Muscat, said, "Underpinned by strong ethical principles, Islamic banking products are growing in popularity and I am sure there will be strong demand for the bespoke solutions Bank Nizwa has created to facilitate the purchase of residences on our waterfront community."
Dr Jamil El Jaroudi, CEO of Bank Nizwa said, "We are continuously looking to enhance our role as the leader of Islamic finance in Oman. Therefore, we are providing individuals looking to experience world class living in Al Mouj Muscat with a seamless and effective portfolio of home financing solutions catering to their various requirements and choices of real estate properties in one of the Sultanate's finest destinations."
The Al Mouj Muscat apartments, townhouses and villas are already home to more than 4,000 people of 69 different nationalities. The leisure and lifestyle destination is home to the 400-berth Almouj Marina, Almouj Golf, and commercial, social and entertainment hub The Walk. In 2016, Al Mouj Muscat will open the first of four planned luxury hotels. Further residential precincts, lifestyle assets and tourism experiences are under development and under construction.
Bank Nizwa's home financing products and services have gained a reputation for providing customers with competitive rates, transparent pricing, quick processing and approval. Designed to best suit the needs of prospective homeowners, the Bank's property solutions are based on the Islamic finance concepts of ijarah, murabahah, and forward ijarah.