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Al Hilal signs agreement with Muttawar Omani Co

Published: 03/03/2014 05:26:43 AM GMT
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MUSCAT -- Al Hilal Islamic Banking Services from Ahli Bank SAOG has signed an agreement with Muttawar Omani Company SAOC to provide project fin (more)

MUSCAT -- Al Hilal Islamic Banking Services from Ahli Bank SAOG has signed an agreement with Muttawar Omani Company SAOC to provide project finance to the amount of above RO 20 million for the construction of their high end mix use (residential and commercial) project -- Lamar Bausher. The agreement was signed at a ceremony by Abdullah al Jabri General Manager - Head of Al Hilal Islamic banking Services on behalf of Ahlibank and Mohammed al Ghassani, Chief Executive Officer of Muttawar Omani Company SAOC at Ahlibank's new Head Office in Wataya.

Commenting on the occasion Abdullah al Jabri General Mamanger- Head of Al Hilal Islamic Banking Services at the bank said "The agreement between Ahlibank's Al Hilal Islamic Banking Services and Muttawar Omani Co will make residential property ownership more accessible, with maximum flexibility and buying options for our customers. Our goal is to provide affordable and convenient home-financing plans through it's Al Hilal Islamic banking services." Islamic Banking customers can buy their home with Al Hilal Home Financing from Al Hilal Islamic Banking services. Al Hilal Home Financing provides complete transparency to its customers, which is the cornerstone of Islamic financing. The bank offers its customers, solutions to own properties through sharia complaint products.

AL Hilal Islamic banking services has the largest network of Islamic Banking branches in the Sultanate comprising of seven branches. Al-Hilal Islamic banking services has also taken the lead in launching a suite of banking products, which combine traditional values with modernity. The Bank has adopted the best practices in Islamic banking and finance worldwide to combine a robust model which protects customers and complements the Islamic banking industry. "Lamar Bausher" is an aesthetically designed project with 357 residential units and self-sustaining commercial units spread over a total area of approx 80,350 sqm. (GFA).

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