Reinforcing its position as one of Oman’s most dynamic Islamic Wholesale Banking institutions, Alizz Islamic Bank has recently signed an agreement with the International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org). This partnership is set to provide Shari’a compliant financing solutions, further enhancing the bank’s commitment to offering innovative and ethical financial services in alignment with Islamic principles.
The agreement was officially signed by Mr. Ali Al Mani, CEO of Alizz Islamic Bank and Eng. Hani Salem Sonbol, CEO of ITFC in the presence of a number of senior officials from both organisations.
Speaking about the agreement, Mr. Ali Al Mani, CEO of Alizz Islamic Bank said: “We are delighted to be the first bank in Oman to partner with the ITFC. Partnering with innovative and leading organisations in their respective fields is an important part of our strategy and we are proud to be pioneers in providing innovative trade financing solutions. Our customers are at the forefront of everything we do and aligning with strategic partners enables Alizz Islamic Bank to enhance our trade solutions and correspondent network which in turn can enable us to offer competitive working capital financing pricing.”
Commenting on the agreement, Eng. Hani Salem Sonbol, CEO of ITFC , and Acting CEO of ICD stated “We are pleased with our partnership and strategic relationship with Alizz Islamic Bank. This is our first collaboration in Oman and is poised to play a pivotal role in advancing Shari’ah compliant financial services in the country. Through this agreement, we aim to strengthen the private sector role in the economy, particularly by enhancing access to finance for small and medium-sized enterprises (SMEs). Supporting SMEs is a core pillar of the ITFC mission, and we are confident that this partnership will help drive economic growth, create job opportunities, and foster sustainable development in Oman”.
Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).
About Alizz Islamic Bank:
Alizz Islamic Bank is one of the first Islamic banks in Oman that provide innovative financial solutions and banking products that are fully Shairiah compliant. The Bank was established in September 2013 with the aim of offering customers an enriching banking experience to serve corporate, commercial, and government institutions as well as retail customers across Oman through innovative Islamic products and services.
The bank’s highly experienced team helps organisations achieve optimum efficiency, reliability, and above all, dynamic customer experience. The bank has developed a variety of Shari’ah compliant banking products and services that fosters growth and efficiency of the business and commerce environment of the Sultanate of Oman. Alizz Islamic Bank has always prioritised transparency, ethical dealings and giving back to the community and its main focus is personalising every financial experience through innovative and smart solutions.
About the International Islamic Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving the socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided over US$75 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity-building tools, which would enable them to successfully compete in the global market.