- Competitive annual Murabaha Rates starting from 5% with payment period of up to 10 years
- High demand for Auto Finance and Goods Finance to benefit from the offers
Muscat, July 05, 2017: Due to the high demand for the offers and to allow a largest number of its customers to benefit from them, Al Yusr, the Islamic Banking Window of Oman Arab Bank (OAB), announced the extension of its financing offers launched for the month of Ramadan. These offers encompass Al Yusr Auto Finance and Al Yusr Goods Finance. These recent offers provide Al Yusr Islamic Banking customer’s a chance to obtain financing with competitive Murabaha rates starting from just 5% and a maximum repayment period of up to 10 years. The offer will last until the end of July.
Commenting on the high demand for the special offer, Dr. Khalifah bin Ahmed Al Ghammari, General Manager of the Al Yusr Islamic Banking Window of Oman Arab Bank said, “We at Al Yusr believe that our customers deserve the best and always look for what meets the needs of our customers in a way that perfectly satisfies their expectations. Due to the high demand for the offer that was launched in Ramadan and to allow the largest number of our customers to benefit from them, we have extended the period of the offer until July 31, 2017. These offers come within our vision of providing our customers with the best available services and products in Islamic Banking Sector; providing all our customers with an opportunity to obtain Shari’ah compliant Auto finance and Goods Finance at competitive Murabaha rates throughout the offer period lasting until the end of July.”
The rate for Ministries and quasi government employees for Auto and Goods Financing is 5% with a maximum repayment period of 10 years. For the employees of approved companies, the annual rate for Auto Finance is 5.5%. The Murabaha rate and payment period varies for the rest of the customers depending on the classification of their place of work.
Dr. Khalifah added, “We believe that offers such as these help meet the needs of customers with rates that are amongst the best in the market; in turn helping them achieve their goals and aspirations.”
Al Yusr is the Islamic window of OAB. Established in 2013, the Islamic banking window provides services via seven branches; two in the Muscat Governorate (Athaiba and Wattaya), and others in Salalah, Nizwa, Falaj al-Qabail, Ibra and Al-Buraimi. Al Yusr customers also have access to more than 150 OAB ATM’s located across Oman. Al Yusr Islamic Banking provides its retail and corporate customers as well as investors’ a wide range of shari’ah compliant products and services.