in the news

    Maisarah Islamic Banking Services organises professional training programme

    MUSCAT| August 8, 2017: As a strategic approach to boost customer experience, through developing its employees skills, Maisarah Islamic Banking Services organized a popular professional sales training program the ‘Carew International’s Dimensions of Professional Selling (DPS)’ for the benefit of its staff.

    Over 20 employees from Maisarah Islamic Banking Services corporate and head office participated in the DPS training programme that was designed to strengthen customer relations, bolster creative problem solving methods, better positioning selling systems and strategic selling plan and implementation. It also increased employee awareness of marketing, selling methods and communication with customers.

    Commenting on the programme, Mohammed Ahmed Al Mashani, executive manager, Retail Business and Channels, Maisarah Islamic Banking Services said, “As part of our core strategy we strongly believe in investing in professional development of our employees to meet the business requirements of Islamic Banking. By organising this training programme, our employees have been equipped with better strategies to identify the needs and priorities of our customers. We are certain that our employees’ learning will positively reflect on our customers’ satisfaction.”

    Hafidh Salim Al Kulibi, senior representative, customer services, Maisarah Islamic Banking Services said, “The training provided me with techniques which has led me to rethink my sales strategy. Such training is important because it not only enhances our professional development, but also ensures customer satisfaction and success of our business. The exemplary training programme delivered its concepts very practically by engaging our minds and interests.”

    With an aim to serve customers across Oman, Maisarah Islamic Banking Services has opened 10 branches in Azaiba, Al Hail, Salalah, Sohar, Birkat Al Mouz, Greater Muttrah, Al Khuwair, Sur, New Salalah and Araqi. It offers a comprehensive range of Shariah-compliant products and services that cater to the needs of its retail and corporate customers network of branches, ATM and CDM facilities.

    Nurturing an objective to become the best Islamic banking services provider, Maisarah Islamic Banking Services is dedicated to becoming a sustainable firm which delivers value to its shareholders, customers, employees and community.

    image

    image

    Maisarah Islamic Banking Services aims at providing top customer experience

    Muscat, 14 June 2017:With an objective to enhance customer experience, Maisarah Islamic Banking Services recently conducted a training course for its employees on liability products. The training programme covered a gamut of topics to help employees become more efficient and better equipped to deal effectively with customers’ needs.

    Around 20 employees were trained on the topic of “Liability Products and Sharia Issues” by the Sharia department of Maisarah Islamic Banking Services at its Al Hail branch. The training workshop held in both Arabic and English languages covered real life examples and involved many exercises.

    Speaking of the training Abdul Hakim Osman, Internal Sharia Reviewer, said, “Maisarah Islamic Banking Services is keen on offering an outstanding customer experience. Through our training programme, we aimed to help our employees gain a greater insight into the products offered by us. We also wanted them to take control of creating a great customer experience.”

    He added, “Sharia Compliance is the hallmark of Islamic Banking. We at Maisarah Islamic Banking ensure that proper training is given to our staff to increase their understanding of the Sharia related issues of the products offered by Maisarah. This will help us ensure highest standard of Sharia Compliance.”

    Maisarah Islamic Banking Services believes in giving its employees the training and understands that providing in depth product training into key banking products can help its staff learn more about the products and gain confidence. The Bank believes that to enhance customer satisfaction, organisations need to devise effective training programmes for its employees.

    Nurturing an objective to become the best Islamic banking services provider, Maisarah Islamic Banking Services is dedicated to becoming a sustainable firm which delivers value to its shareholders, customers, employees and community. As a leading Islamic banking service provider in Oman, the bank’s dedicated staff work towards the progression of the sector with renewed dynamism.

    image

    Maisarah Honored at ‘Rattel Wa Artaqi’ Holy Quran Memorizing Competition

    Muscat| 08 June 2017:Recognizing its efforts in supporting social initiatives, Maisarah Islamic Banking Services was recently honored for being silver sponsors of the 12thedition of the ‘Rattel Wa Artaqi’ Holy Quran Competition. The competition was held under the auspices of H.E Dr. Fuad Jafar Al Sajwani, Minister of Agricultural and Fisheries at Sultan Qaboos University (SQU). Representing Maisarah at the event was Mohammed Al Mashani, Executive Manager – Retail Business & Channels of Maisarah, who received the token of appreciation.

    On being honored, Mohammed Al Mashani, Executive Manager – Retail Business & Channels of Maisarah noted: “Sponsoring such events falls within our CSR obligations. At Maisarah, we are keen to participate in activities which help in instilling Islamic values in our youth. We were honored to be part in this essential Islamic initiative, and we look forward to be part in similar events in the future.”

    The Holy Quran competition “Rattel Wa Artaqi’ is an annual event organized by the Board of Parents in Wilayat of Bousher in association with Al Khuwair Basic Education School. Being an open competition for student from grades 5 to 9, the “Rattel Wa Artaqi” competition this year witnessed numerous participations reaching 6,523 students from a range of 162 public, private and international schools from across the Sultanate. Students from each of these schools showcased their skills of memorizing and reciting several Quran verses.

    With its vision of becoming the best Islamic banking services provider, Maisarah has placed its team, rolled out its products and placed state-of-art technology and infrastructure to ensure high quality of service. To further enrich its customer experience, Maisarah is having a strong branch network of 10 branches that are strategically located in major cities across Oman. As part of its future growth plan, the Islamic banking service provider plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

    image

    image

    image

    Maisarah conducts first Quarterly Draws of Prize Account Scheme at Nizwa Grand Mall

    Muscat| 26 April 2017:Maisarah Islamic Banking Services has recently conducted its first quarterly draws for the Prize Account Scheme. The draws conducted included quarterly draw for one lucky winner each for general customers and priority customers.

    The event was held under the auspices of H.E. Ahmed Said AL-Hadhrami, Al Shura Council Representative Wilayat of Nizwa. Representing Maisarah at the Event were Mr. Mohammed Said Al Ishaqi, Branch Manager of Maisarah Barkat Al Mouz, and Mohammed Al Mashani, Executive Manager – Retail Business & Channels of Maisarah who welcomed the chief guest and the customers.

    Commenting on the draw Mohammed noted: “In Maisarah we are committed to make our customers' lives easier. Following the resounding success of the first Prize Account Scheme which was launched last year, we launched this year’s scheme focusing on larger segments of our customers and bigger prizes. We are committed to providing the best banking products and services that are compatible with the provisions and principles of Islamic law and that meets the needs and expectations of our customers.”

    The draw event, which was held at the Nizwa Grand Mall on April 21st, saw a number of activities for kids. The event commenced with Quran recitation, followed by Branch Manager’s speech. After that Al-Mutasim Bin Khalifa A-Shreqi presented inshaad session. The draws were then conducted where one lucky winner took home the quarterly prize of OMR 1,000, and one priority banking customer won the grand prize of OMR 2,000. The event concluded by handing over a special token of appreciation to H.E. Ahmed Said Al Hadhrami, Al Shura Council Representative Wilayat of Nizwa.

    Congratulating the winners Mohammed said: “On behalf of Maisarah Islamic Banking Services I would like to take this opportunity, to congratulate the winners of our first quarterly draws for this year. I would also like to wish all our customers best of luck for the upcoming draws”

    Following the success of the first Prize Account in 2016, Maisarah launched this year’s scheme with bigger prizes, including larger segments of customers. This year's Prize Account will include 234 winners including priority customers, with a prize pool of more than OMR 270,000.

    The unique feature of Maisarah Prize Account is that customers are eligible for the expected profit of up to 3%on their deposits maintained in the account and in addition bank is giving away this prize from its own sources. Hence, it is not only encouraging customers to save but also rewarding them. This year’s prizes include; Monthly prizes with a total value of OMR 55,000 distributed among 110 winners (OMR 500 for each winner – 10 winners monthly), in addition to Quarterly prizes with a total value of OMR 4,000 for 4 winners (OMR 1,000 for one winner every 3 months). Additionally, Maisarah Special prizes for different occasions throughout the year including; Ramadhan prize worth OMR 1,500 for one winner from general customers and OMR 3000 for priority customers, Hajj season prize worth OMR 1,500 for one winner from general customers and OMR 3000 for priority customers. The Prize scheme also includes grand prizes of OMR 25,000 and OMR 50,000 during the year.

    Customers who save OMR 100 in their accounts for 30 days will have the chance to win the prizes listed. They can increase their chances to win prizes by saving larger amounts. The current Prize Account scheme is open to customers till Dec 31, 2017.

    To further enrich its customer experience, Maisarah launched five new branches, bringing the total number of the Islamic banking window branches to 10 branches that are strategically located in major cities across Oman. As part of its future growth plan, the Islamic banking service provider plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

    Maisarah Islamic Banking Services Conduct Staff Training on Products and Services

    Muscat, 17 April 2017: As a part of its core strategy on investing in employee professional development to meet the business requirements of Islamic Banking, Maisarah Islamic Banking Services has recently conducted a comprehensive training course for its branch staff. Such training courses ensure that Maisarah Islamic Banking staff are always geared towards a better understanding of Islamic Banking concepts and products offered by Maisarah.

    The training course which covered various topics on Sharia concepts, structures, products and its implementation in Islamic banking, aimed at training the staff to meet business requirements and challenges of Islamic Banking. The five day course was specially designed to develop in-depth understanding of Sharia requirements that needs to be ensured within the wide range of products and services offered by Maisarah. The training was conducted by in-house experienced Islamic Finance experts from Product Development, Sharia Compliance & Audit Department.

    Highlighting the importance of conducting such trainings, Mohammed Al Mashani, Executive Manager – Retail Segments & Channels of Maisarah noted: “At Maisarah Islamic Banking Services we place a great importance in training our staff, which is part of our business strategy. Keeping our staff updated with Islamic Banking products and services reflect positively not only on our performance but on achieving higher customer satisfaction as well.”

    Maisarah Islamic Banking Services continues to train staff in order to enhance their skills and competencies. These trainings are conducted both internal and external. The successful completion of this training will certainly contribute towards further strengthening the productivity of our staff, which in turn will help us better serve the needs of our valued customers in addition to reinforcing our position.” Mohammed added.

    To further enrich its customer experience, Maisarah launched five new branches, bringing the total number of the Islamic banking window branches to 10 branches that are strategically located in major cities across Oman. As part of its future growth plan, the Islamic banking service provider plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

    image

    Maisarah Islamic Banking Services wins ‘Best Islamic Community Support Bank 2017’ Award by Global Financial Market Review

    • Maisarah reaffirms its role as a socially responsible organisation through supporting various charitable causes.

    MUSCAT April 6, 2017:Recognising its commitment to customers and best practices, Maisarah Islamic Banking Services has been awarded the ‘Best Islamic Community Support Bank 2017’ award by the leading European online publisher Global Financial Market Review. The highly prestigious Global Financial Market Review Awards have become a benchmark for reliability, performance and security within the international financial community.

    Maisarah Islamic Banking Services is the only finance institution from Oman to have made it to the 2017 list of the award under the banking category. The Islamic banking solutions provider has been recognised for its continuous growth, competent product innovation and positive impact on the Islamic banking industry.

    Ismail Jama Ismail Bait Isihaq, Senior Executive Manager of Maisarah Islamic Banking Services said, “We are delighted to win this award which is a testament to its strong presence in the society. We have worked hard to establish ourselves as an innovative and fast-growing Islamic financial services provider. This international honour acknowledges our solutions driven approach, effective banking and technological services. We are committed to meeting the highest global standards in all fields of our operations. We would like to thank our customers for their continuous trust in us. As a leading Islamic banking service provider in Oman, our dedicated staff will continue to work towards the progression of the sector with renewed dynamism.”

    It is important to note that Maisarah Islamic Banking Services’ capital position remained healthy in 2016 to support continuous business growth, where it accomplished excellent financial results with its total assets reaching over OMR 450 million and net profit registering OMR 3.2 million.

    With an aim to serve customers across Oman, Maisarah Islamic Banking Services has opened 10 branches in Azaiba, Al Hail, Salalah, Sohar, Birkat Al Mouz, Greater Muttrah, Al Khuwair, Sur, New Salalah and Araqi. It offers a comprehensive range of Shariah-compliant products and services that cater to the needs of its retail and corporate customers network of branches, ATM and CDM facilities.

    Nurturing an objective to become the best Islamic banking services provider, Maisarah Islamic Banking Services is dedicated to becoming a sustainable firm which delivers value to its shareholders, customers, employees and community.

    image

    Maisarah Islamic Banking Services Wins Best Islamic Bank Award 2016

    • 10 Maisarah branches serve customers nationwide and offer best-in-class financial products and services.
    • Maisarah reaffirms its position as one of the leading and fastest growing Islamic banking institutions in Oman.

    Muscat, 23 March 2017: Reiterating its commitment to lead the Islamic finance market in the Sultanate, Maisarah Islamic Banking Services has been announced the winner of "Best Islamic Bank in Oman" at the Middle East Banking Award (EMEA) Finance’s Achievement Awards 2016. The event was held at the Conrad Hotel, Dubai and was attended by high profile delegates and invited guests.

    The fast-growing financial services provider has been selected among Islamic finance institutions nationwide after achieving striking growth figures. Maisarah has also witnessed year-on-year remarkable capital, assets and profitability growth.

    “We have set our vision to be the best financial solutions provider in Oman, and we have taken concrete steps in that direction. Our team of dedicated and highly qualified professionals offers a wide array of banking solutions, innovative products and services. As a part of our operational strategy, we have maintained high standards of corporate governance, research and development, corporate social responsibility and customer service that placed Maisarah on top of the best Islamic banking services providers in the Sultanate,” said Ismail Jama Bait Isihaq, Senior Executive Manager of Maisarah Islamic Banking Services.

    Despite the challenging market & economic conditions, Maisarah continued business growth and achieved outstanding financial results in 2016. Its total assets reached over OMR 450 million and Net Profit of OMR 3.2M.

    As part of its plans to boost its presence nationwide, the Islamic window celebrated the inauguration of five new branches in 2016 alone, bringing the total number of Maisarah branches to 10 branches that are strategically located in major cities across Oman. As part of its future growth plan, the Islamic banking service provider plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

    image

    Maisarah Participates in Social Initiatives

    • Maisarah reaffirms its role as a socially responsible organisation through supporting various charitable causes.
    • Maisarah works towards supporting sustainable CSR initiatives, investing in long term objectives of all its CSR activities.

    Muscat, 13 March 2017: Cementing its pioneering role as a socially responsible organisation, Maisarah Islamic Banking Services supported various social initiatives that contribute to the development and wellbeing of the society. Some of these initiatives are: Maisarah the scientific seminar for Burhan Al Haqq book of His Eminence Shaikh Ahmed bin Hamad Al Khalili, the Grand Mufti of the Sultanate which was held at the Conference Hall of Sultan Qaboos University (SQU) under the auspices of Shaikh Hamad bin Hilal bin Ali Al Maamari, Under-Secretary of the Ministry of Heritage and Culture for Cultural Affairs. A number of scientists, researchers and thinkers from inside and outside the Sultanate took part in the seminar.

    Maisarah conducted a customised seminar on banking products, services and financial options for staff of the Ministry of Defence, Sultan of Oman's Armed Forces – Izki on the latest methods of the Islamic banking in Oman. The presentation was presented by Ismail Bait Ishaq - Financial Controller at Maisarah Islamic Banking Services, Mujtabah Ali Dawood - Executive Manager – Retail at Maisarah Islamic Banking Services and Abdul Hakim Osman - Executive Manager- Internal Shari’a Reviewer at Maisarah Islamic Banking Services.

    On the other hand; Maisarah sponsored the 4th Cultural week at Al Sharqaiya University, which aims to highlight the talents and projects of its student. A number of students and public and private sector organisations participated at the event.

    The Islamic window’s participation in such initiatives comes as part of its endeavour to implement and participate in various activities and events.

    Commenting on the initiative, Mohammed Ahmed Al - Mashani – Executive Manager – Retail Business & Channels at Maisarah Islamic Banking Services – said: “Maisarah saves no efforts to support public and private sector organisations across the Sultanate. We are very glad to see such significant participation from Maisarah’s team as our involvement in social initiatives that contribute to the development and wellbeing of the community is an essential part of our operations”.

    Taking proactive steps on the path of the Sultanate’s social development and prosperity, Maisarah puts corporate social responsibility (CSR) at the forefront of its commitments. Community and social awareness campaigns, as well as a strong focus on engaging staff, are being promoted through various channels. The Islamic banking window works towards supporting sustainable CSR initiatives, investing in long term objectives of all its CSR activities.

    External partnerships with various public and private sector organisations, as well as non-profit and charitable organisations, help Maisarah extend its outreach and play a proactive role in the community, realising its weight as an integral part of the community. More than just financial support and fund-raising, Maisarah is dedicated to sustainable philanthropy causes, participating in events and activities across the Sultanate, collaborating with various organisations and non-profit associations to reinforce its social responsibility and community outreach programmes.

    image

    Win and Share aspirations with Maisarah’s Prize Account Scheme

    • Over OMR 270,000 cash prizes for 234 winners
    • Monthly Prizes, Quarterly prizes, and Grand prizes twice a year for all customers.
    • Special prizes celebrating Ramadhan and Hajj.
    • Maisarah Prize Account is a personal savings account that operates on the principle of Mudarabah.

    Muscat, 28 February 2017: Following the resounding success of its 2016 Prize Account Scheme, Maisarah Islamic Banking Services unveiled the new edition of the customer’s Prize Account for the year 2017. The prizes will be distributed from the shareholders’ funds. The Maisarah Prize Account is a personal savings account that is based on the Islamic Mudaraba principle, wherein customers share attractive expected profit. The account allows customers to get prizes monthly, quarterly, and Grand Prizes twice a year. In addition to special prizes celebrating Ramadhan and Hajj.

    Commenting on the launch of the Prize Account, Mohammed Al Mashani - Executive Manager – Maisarah Retail Business & Channels, said: "After the success of the Prize Account for 2016 due to the loyalty of our customers, the shareholders decided that this year the prizes will be bigger, and include larger segments for our customers. This year's Prize Account has 234 winners for all customers including priority customers, with a total value of more than OMR 270,000. In addition, the Prize account will give our customers expected profit of up to 3% on their deposits maintainedin the account. We are committed to providing the best banking products and services that are compatible with the provisions and principles of Islamic law and meets the needs and expectations of our customers. In Maisarah we are committed to make our customers' lives easier.

    Al Mashani added: "The unique feature of Maisarah Prize Account is that customers are eligible for the expected profit of up to 3%on their deposits maintained in the account and in addition bank is giving away this prize from its own sources. Hence, it is not only encouraging customers to save but also rewarding them. The prizes for 2017 are as following:

    - Monthly prizes with a total value of 55,000 riyals for one year and a total number of 110 winners (OMR 500 for each winner – 10 winners monthly).

    - Quarterly prizes with a total value of OMR 4,000 for one year and a total number of 4 winners (OMR 1,000 for one winner every 3 months).

    - Special prize celebrating the month of Ramadhan with a total value of OMR 1,500 for one winner.

    - Special prize celebrating the season of Hajj with a total value of OMR 1,500 for one winner.

    Grand Prizes for Priority Customers:

    - Monthly prizes with a total value of OMR 110,000 for 110 winners (OMR 1,000 for each winner – 10 Winner monthly).

    - Quarterly prizes with a total value of OMR 8,000 for 4 winners (OMR 2,000 for one winner every 3 months).

    - Special Prize celebrating the month of Ramadhan with a total value of OMR 3,000 for one winner.

    - Special Prize celebrating the season of Hajj with a total value of OMR 3,000 for one winner.

    In addition to semi-annual prizes (for all customers):

    - Grand Prize for the month of July 2017 with a total value of OMR 25,000 for one winner.

    - Grand Prize for the month of January 2018 with a total value of OMR 50,000 for one winner.

    Customers who save OMR 100 in their accounts for 30 days will have the chance to win the prizes listed, as they can increase their chances to win prizes by saving larger amounts. The Prize Account scheme lasts from February 1, 2017 to Dec 31, 2017.

    Al-Mashani assures that winners will be randomly selected from each branch by an automated system in line with the approved procedures for the prize draw.

    image

    Furniture Finance made easy by Maisarah & Home Centre

    • Maisarah offers easy financing options for Home Centre shoppers across the Sultanate.
    • Maisarah provides best Islamic banking solutions, products and services.

    Muscat, 21 February 2017: To further enrich its customer experience, Maisarah Islamic Banking Services – BankDhofar’s Islamic window - has signed a Memorandum of Understanding (MOU) with Home Centre to facilitate Goods Financing option for customers.

    The MoU has been signed bilaterally by Jamsheed Hamza, Maisarah’s Head of Retail Banking, and Clive Freeman, Chief Operation Officer of Landmark Group Oman, during a signing ceremony that took place recently at Al Waha Mall in Al Khuwair.

    As per the agreement, Maisarah will extend its support to Home Centre customers by financing goods selected by shoppers under the eligibility terms and conditions stipulated by the Islamic window.

    Clive Feeman, Chief Operating Officer, Landmark Group Oman said, “At Home Centre it is our endeavor to provide our customers with exceptional value. The tie-up with Bank Maisarah gives our customers the convenience to select from our extensive home solutions through affordable financing options.”

    Jamsheed Hamza, Maisarah’s Head of Retail Banking, said: “The agreement with Home Centre comes as part of our concentrated efforts to offer easy financing options for our customers across the Sultanate. Maisarah will continue to partner with reputed retailers in Oman to enable customers to own goods and products they wish to buy with easy instalment scheme.”

    The offer adds to the wide range of Islamic financial solutions, innovative products and best-in-class services that Maisarah offers to cater to the needs of its retail and corporate customers. These solutions include many innovative products like: travel finance, credit card, home finance, auto finance, education finance, prize account, Ameen term deposit, call account, working capital finance, property finance, equipment and project finance, Wa’ad product (alternate to forward cover), as well as trade financing solutions such as letter of credit and letter of guarantee services. To further enrich its customer experience, Maisarah continually joins hands with various businesses across Oman, offering financial solutions that fulfil the needs of the customers and meet their aspiration. As part of its future growth plan, the Islamic banking service provider plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

    image

    Maisarah Conducts Awareness Programme for Ministry of Education Staff

    • 44 education specialists, teachers and supervisors attended the seminar.
    • Workshops highlighted day-to-day banking transactions and processes for developing Shariah compliant products.
    • Maisarah caters to retail and corporate customers, financing large-scale developmental projects and supporting investments.

    Sohar, 13 February 2017: Maisarah, as part of its continuous efforts to increase awareness Islamic banking and finance, conducted a customised seminar on banking products, services and financial options for staff of the Ministry of Education.

    Commenting on the event, Mujtabah Dawood Al Lawati, Executive Manager, Retail talked about the Islamic window’s continuous efforts that aim to contribute the growth and development of the Islamic banking industry in the Sultanate through supporting various initiatives that reaffirms its role as a leader in the Islamic finance market. “We support such initiatives that aim to render a rich knowledge of Islamic banking solutions, sharing expertise and setting a platform for market specialists to learn from the latest trends in the international finance market. We are also committed to follow best global standards and to apply best practices in the market in order to be able to serve our customers nationwide in the best possible way. We are proud to be the leading Islamic services provider in Oman, catering to retail and corporate customers, financing large-scale developmental projects and supporting investments in various business sectors across the Sultanate,” he said.

    The one-day event was organised by Sohar Branch and was attended by 44 education specialists, teachers and supervisors from the General Directorate of Education in North Al Batinah Region. Workshops were administered by Nama International Institute, represented by Islamic finance scholar Dr. Hassan Al Madhai in collaboration with Talal Abu Ghazaleh Institute. The sessions focused on boosting the skills and knowledge of Islamic studies teachers in the area of Islamic banking and Shariah compliant financial transactions. Participants were also acquainted with the diverse range of products and services offered by Maisarah to retail and corporate customers. Moreover, the workshops highlighted day-to-day banking transactions offers by Maisarah. Participants also learned about the processes and procedures in developing Islamic products that are tailored to meet customers’ aspirations and fulfil their needs and financial requirements.

    On his part, Salim Abdullah Al Rubai, CEO of Nama International Institute, noted: “The attendees expressed their gratitude to efforts put by Maisarah to expand their knowledge of Islamic baking products and services. This will definitely benefit students in public schools and will enrich the Islamic studies in public schools.”

    Laila Darwish Al Obaidani, Manager of Maisarah Sohar Branch, also added: “We are glad to see such overwhelming response from participants, and I would like to take this opportunity to reiterate our support to such initiatives and our commitment to offer best Shariah compliant products and services.”

    As part of its future growth plan, the Islamic banking service provider plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner. Maisarah has been recognised for its commitment to lead the Islamic finance market in the Sultanate, earning prestigious awards and titles from leading local and international organisations including the award for ‘Islamic Bank of the Year – Oman’ in 2015 and 2016 by The Banker, the ‘Best Islamic Bank in Oman 2015’ by Global Banking & Finance Review, ‘Best Islamic Banking Window - Oman 2015’ award by the London based International Finance Magazine (IFM), ‘Best Islamic Community Support Bank 2014’ by Global Financial Market Review and ‘Best Islamic Window in Oman 2013’ by Global Financial Market.

    image

    Maisarah’s Inventory Finance Solution Offers Great Benefits to Customers & Boosts Corporate Business Deals

    • Maisarah’s Inventory Finance product provides funds for business operations.
    • Easy and simple process with a maximum facility tenor of up to 12 months.

    Muscat, 19 October 2016:Central to its strive to provide the best Islamic banking so lutions for corporate and retail customers, Maisarah Islamic Banking Services, introduced a matchless Inventory Finance product as a working capital solution for customers who want to sell goods on credit and require funds for operations during the credit period.

    Fawaz Rajab Al Ojaili, Acting Head of Maisarah’s Corporate Banking, elaborated on the product and the benefits it brings in to corporate customers, stressing on the Islamic window’s commitment to provide best-in-class services and Shariah-compliant financial solutions. “The Inventory Finance is based on the concept of Musawamah - a sale contract in which the price of the commodity is determined between the seller and the buyer with mutual consent. This product will enable customers to get cash by selling ready-for-sale goods. Customers can enjoy easy and simple process under this scheme with a maximum facility tenor of up to 12 months,” he said.

    The Inventory Finance products adds to the diverse range of Shariah-compliant financial solutions, innovative products and best-in-class services that Maisarah offers to cater to the needs of its corporate customers. These solutions include working capital finance, goods finance, diminishing musharakah, contract and project finance, guarantee services, letter of credit services and more.

    Maisarah also offers a wide array of retail and treasury products such as credit card, home finance, auto finance, goods finance, personal finance, education finance, transactional finance, prize account, savings account, current account, fixed deposit, Ameen term deposit, call account, property finance, Wa’ad product (alternate to forward cover), as well as trade financing solutions such as letter of credit and letter of guarantee services.

    To further enrich its customer experience, Maisarah celebrated the inauguration of five new branches this year, bringing the total number of the Islamic banking window branches to 10 branches that are strategically located in major cities across Oman.

    As part of its future growth plan, the Islamic banking service provider plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

    image

    Maisarah Launches New Travel Finance Solution

    • The new solution adds to the diverse range of Islamic banking products offered by Maisarah.
    • The product is available for Omani nationals and expats with flexible finance period of up to 03 years.

    Muscat, 18 September 2016: Adding to its wide range of financial solutions, Maisarah Islamic Banking Services of BankDhofar has announced the debut of its Travel Finance facility that is tailored to fulfil the needs of customers who wish to avail Shariah-compliant travel solutions.

    Elaborating on the newly launched product, Jamsheed Hamza – Executive Manager and Head of Retail at Maisarah Islamic Banking Services - said: “Under this product, Maisarah finances all costs of traveling, including transportation (flights, ferries, railways, buses, car rentals etc.) and accommodation (hotels, apartments, chalets, lodges, cottages, holiday homes). The facility also covers tourism packages (sightseeing trips, tickets to museums, historical places) in addition to Hajj and Umrah packages with all the services offered by travel agents such as accommodation, transportation, food, etc. Similarly, those who are travelling for health tourism, which are packaged through travel agencies, can also avail this facility. Moreover, the finance package includes Life Takaful and Travel Takaful.”

    Maisarah’s Travel Finance now gives customers the flexibility to avail better packages and destinations as well as the capability to take extended family members for the trip. The Islamic banking services provider is committed to cater to the needs and requirements of its retail and corporate customers across the Sultanate by expanding its diverse array of customised Shariah-compliant products and services.

    “This product has been developed to add more convenience to our customers and help them finance their travel costs in a Shariah compliant manner. It is based on the Islamic financial principle of Service Ijarah where Maisarah purchases the services and leases them to customers. The product is available for Omani nationals and expatriates with valid residence visa as per the regulator’s terms and conditions. It is a very easy and convenient facility with the fast approval, simple process and flexible finance period of up to three years,” he said.

    The Travel Finance facility adds to the wide range of Islamic financial solutions, innovative products and best-in-class services that Maisarah offers to cater to the needs of its retail and corporate customers. These solutions include: credit card, home finance, auto finance, goods finance, personal finance, education finance, transactional finance, prize account, savings account, current account, fixed deposit, Ameen term deposit, call account, working capital finance, goods finance, property finance, equipment and project finance, Wa’ad product (alternate to forward cover), as well as trade financing solutions such as letter of credit and letter of guarantee services.

    To further enrich its customer experience, Maisarah celebrated the inauguration of five new branches this year, bringing the total number of the Islamic banking window branches to 10 branches that are strategically located in major cities across Oman. As part of its future growth plan, the Islamic banking service provider plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

    image

    Maisarah Conducts Bi-Monthly Grand Prize Draw in Salalah

    • Each OMR 100 gives customers the chance to win cash prizes.
    • One lucky customer from each of the 10 Maisarah branches wins OMR 500 every week.
    • One lucky customer pan Oman wins OMR 5,000 every two months.

    Salalah, 24 August 2016:Maisarah Islamic Banking Services – one of the fastest growing Islamic banking services in the Sultanate of Oman – recently conducted the bi-monthly and weekly prize draws at the Salalah Tourism Festival grounds. The event was held under the patronage of Mohammed Omer Al Rawas, The General Supervisor of Salalah Tourism Festival, and was attended by senior representatives from the bank and a large crowd of the audience.

    Jamsheed Hamza, Head of Retail, commented on the event and highlighted Maisarah’s ongoing effort to promote the culture of saving among the Islamic banking window’s customers. “The Prize Account is part of a bigger savings scheme that is based on the Islamic Mudarabah principle, wherein customers share attractive expected profit. Along with the profit paid on monthly basis, the account allows customers to get cash prizes every week and every two months as a gift from the shareholder’s fund. We aim to encourage the culture of saving and to promote good financial management habits among the public,” he said.

    As per the Prize Account scheme, each OMR 100 gives customers the chance to win a cash prize, with a total value of over OMR 200,000 cash prizes and a total number of 374 winners this year. One customer from each of the 10 Maisarah branches wins OMR 500 every week and one customer pan Oman wins the Grand Prize of OMR 5,000 every two months.

    During the event, Maisarah customer from Sohar Branch was announced the winner of the Bi-Monthly Grand Prize of OMR 5,000 while the Weekly Prizes went to customers from Maisarah’s branches in Azaibah, Al Hail, Salalah, Sohar, Birkat Al Mouz, Greater Muttrah, Al Khuwair, Sur, New Salalah and Araqi.

    “The Prize Account also aims to fulfil the needs and requirements of the market for Shariah-compliant solutions. The product is available for retail customers, including adults and minors. Additionally, Maisarah customers can use other banking services and alternate channel services provided by the Islamic window. All account holders who maintain a minimum balance of OMR 100 for 60 days are eligible to enter the the bi-monthly draws. For every OMR 100 they get a chance to enter the draw, thus multiplying the chances based on the balance maintained. Winners will be randomly selected by an automated system in line with the approved procedures for the prize draw,” he added.

    The Prize Draw came as part of Maisarah’s activities at Salalah Tourism Festival. The Islamic banking window has also participated in the festival with a pavilion at the festival grounds, encompassing 24 hours cash withdrawal facility and customer support services during festival hours. As part of its community involvement, the BankDhofar has distributed tents to restaurants and coffee shops in touristic areas. The initiative aims to enhance the facilities available for visitors and residents of Salalah during the high season.

    image

    BankDhofar and Maisarah Islamic Banking Services Back 1st Arab Forum for Women Entrepreneurs

    • The forum provided a platform to highlight issues relevant to women entrepreneurs in the Arab world.
    • BankDhofar is committed to contribute to the development of SME businesses nationwide.

    Salalah, 20 August 2016: Central to their efforts that aim at developing the SME sector in the Sultanate, BankDhofar and Maisarah Islamic Banking Services supported the 1st Arab Forum for Women Entrepreneurs that kicked off recently at Crowne Plaza Hotel in Salalah under the patronage of H.E. Sayyid Mohammed bin Sultan al Busaidy, Minister of State and Governor of Dhofar.

    The 3-day event was organised by Oman Chamber of Commerce and Industry in the Governorate of Dhofar and it brought together women entrepreneurs from the Arab world, as well as investors, representatives of the public sector, financial institutions, and participants focusing on SME and entrepreneurship industry. The forum highlighted opportunities and challenges facing women entrepreneurs, in addition to various key topics including marketing and role of incubators in supporting the start-ups.

    Speaking at the opening of the forum, Abdul Hakeem Al Ojaili, BankDhofar’s Acting CEO, stressed on the bank’s ongoing efforts to support the development of the SME scene across Oman. He noted: “The SME sector is a vital contributor to the growth and diversification of the country’s GDP and it plays a key role in the development of the national economy. We have always been committed to support entrepreneurs, encouraging creativity and innovation, and participating in initiatives that accelerate the development of the sector.”

    The event provided a platform to highlight issues relevant to women entrepreneurs in the Arab world and potential solutions to overcome such challenges. BankDhofar and Maisarah’s participation in this convention comes in line with BankDhofar and its Islamic window’s comprehensive vision to contribute to the overall development of the country through supporting small and medium-sized businesses and providing a healthy environment for them to grow, network and exchange expertise.

    BankDhofar is committed to boost the growth of SME businesses across the Sultanate. Aspiring to be the bank of choice for SME customers, catering to their financial needs and banking requirements, BankDhofar also works constantly to understand the market trends and it offers professional advisory to enable SME to manage their financial requirements. The bank invests in building an adequate infrastructure to support SMEs nationwide with a specialised team whose core responsibility is to provide financial and advisory services to SME customers.

    BankDhofar offers a diverse range of products, services and financial solutions that are tailored to fulfil the needs and requirements of start-ups and SME customers, including bid bonds, real estate financing, capital asset financing, bill discounting, contract financing, call account, fixed deposit account and current account with exclusive benefits for entrepreneurs. Earlier, the bank joined hands with the top business consulting firm Lighthouse Consulting Services (LCS) to provide outsourced accounting solutions to all SMEs registered with BankDhofar for an affordable nominal cost. These services include budgeting, accounting, financial and management reporting, profit and loss statements and balance sheet preparation.

    image

    Maisarah Introduces Contract Financing Product for Businesses

    Muscat, 9 August 2016: With its continued dedication and focus to enrich the customer’s experience for its corporate customers, Maisarah Islamic Banking Services of BankDhofar has announced the launch of its flagship Mudaraba-based Transaction Finance solution. The fastest growing Islamic banking service provider reiterated its commitment to cater to the needs and requirements of its retail and corporate customers across the Sultanate by expanding its diverse array of tailor-made Shariah-compliant products and services.

    Fawaz Al Ojaili – Senior Executive Manager & Acting Head of Corporate Banking at Maisarah Islamic Banking Services - stressed on the Islamic window’s efforts to provide a wide range of customised financial solutions to suit its customers’ needs and requirements, stating that new products and services will be launched as per the Islamic window’s strategic growth plan. “Under this scheme, we offer transaction specific finance facility to help our business customers enhance their cash flow management that is required to complete certain business transactions, finalise contracts or jump-start projects. This product has been developed to add more convenience to our corporate customers, and it is based on the concept of Restricted Mudarabah, which is a partnership contract where we provide the capital to the customer who carries out a specific contract, project or transaction,” he said.

    Mudaraba-based Transactional Finance product adds to the wide range of Shariah-compliant financial solutions, innovative products and best-in-class services that Maisarah offers to cater to the needs of its retail and corporate customers. These solutions including: Credit Card, home finance, auto finance, goods finance, personal finance, education finance, travel finance, Prize Account, savings account, current account, fixed deposit, Ameen term deposit, Call account, Working Capital finance, Goods finance, Property, Equipment & Project Finance, Wa’ad product (alternate to forward cover), as well as trade financing solutions such as letter of credit and letter of guarantee services.

    The Islamic window celebrated the inauguration of five new branches this year, bringing the total number of Maisarah branches to 10 branches that are strategically located in major cities across Oman. As part of its future growth plan, the Islamic banking service provider plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

    image

    Maisarah Islamic Banking Services Wins Oman’s Islamic Bank of the Year Award for 2016

  • 10 Maisarah branches serve customers nationwide and offer best-in-class financial products and services.
  • Maisarah reaffirms its position as one of the leading and fastest growing Islamic banking institutions in Oman.

Muscat, 12 July 2016:Reiterating its commitment to lead the Islamic finance market in the Sultanate, Maisarah Islamic Banking Services has been announced the winner of "Islamic Bank of the Year - Oman" award for 2016 by The Banker Magazine.

The fast-growing financial services provider has been selected among Islamic finance institutions nationwide after achieving striking growth figures. Maisarah has also witnessed year-on-year remarkable capital, assets and profitability growth.

“We have set our vision to be the best financial solutions provider in Oman, and we have taken concrete steps in that direction. Our team of dedicated and highly qualified professionals offers a wide array of banking solutions, innovative products and services. As a part of our operational strategy, we have maintained high standards of corporate governance, research and development, corporate social responsibility and customer service that placed Maisarah on top of the best Islamic banking services providers in the Sultanate,” said Sohail Niazi, Maisarah’s Chief Islamic Banking Officer.

Maisarah offers a wide range of Shariah-compliant financial solutions, products and services that cater to the needs of its retail and corporate customers, including: home finance, auto finance, goods finance, personal finance, education finance, travel finance, savings account, current account, fixed deposit, Ameen term deposit, call deposit, Working Capital finance, Corporate Goods Finance, Property, Equipment & Project Finance, Contract Finance, Wa’ad product (alternate to forward cover), as well as trade financing solutions such as letter of credit and letter of guarantee services.

As part of its plans to boost its presence nationwide, the Islamic window celebrated the inauguration of five new branches this year alone, bringing the total number of Maisarah branches to 10 branches that are strategically located in major cities across Oman. As part of its future growth plan, the Islamic banking service provider plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner./p>

Demonstrating a high degree of product innovation and best services, Maisarah has been recognised for its commitment to lead the Islamic finance market in the Sultanate, earning prestigious awards and titles from leading local and international organisations including the award for ‘Islamic Bank of the Year – Oman’ in 2015 by The Banker, the ‘Best Islamic Bank in Oman 2015’ by Global Banking & Finance Review, ‘Best Islamic Banking Window - Oman 2015’ award by the London based International Finance Magazine (IFM), ‘Best Islamic Community Support Bank 2014’ by Global Financial Market Review and ‘Best Islamic Window in Oman 2013’ by Global Financial Market.

image

    Maisarah Introduces “Qibla” Credit Card in Partnership with MasterCard

  • Qibla Titanium MasterCard encompasses a compass to indicate the direction to Mecca.
  • The prominent credit cards offer a diverse range of privileges to enrich Maisarah’s customer experience.

Muscat, 05 June 2016:: In collaboration with MasterCard Worldwide, Maisarah Islamic Banking Services – BankDhofar’s Islamic window – has announced the launch of its flagship Gold MasterCard and Titanium (Qibla) MasterCard. The prominent credit cards will offer Maisarah’s customers a wide array of exclusive banking privileges as part of the Islamic window’s commitment to enrich its customers’ banking experience.

The announcement was released post an inaugural ceremony that was attended by the senior officials from BankDhofar and Maisarah Islamic Banking Service and Mohamed Manzoor, MasterCard Country Manager – Oman, Pankaj Kathuria, MasterCard Head of Business Development for Qatar, Oman & Kuwait.

Commenting on the launch, Jamsheed Hamza, Head of Retail - Maisarah Islamic Banking Services, said: “Our partnership with MasterCard comes in line with our comprehensive business strategy that revolves around providing best Shariah compliant services, innovative products and best-in-class Islamic banking solutions. The new Gold and Titanium (Qibla) credit cards will offer Maisarah’s customers a vast range of exclusive offers and unequaled privileges. We are confident that the new cards will bring so much value to our customers across the Sultanate and we look forward to enriching our customers with the benefits of Maisarah Credit Cards.”

For the first time in the Sultanate of Oman, the Titanium (Qibla) credit card is equipped with a magnetic compass that indicates the direction to Mecca, the direction faced by Muslims during prayers. The Qibla direction is indicated wherever the cardholder is. “The credit card product is governed by Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI). Additionally, it will allow customers to manage their personal financing in a Shariah compliant manner and provide them with a method of payment that is accepted worldwide,” noted Jamsheed.

Raghav Prasad, General Manager - Gulf Countries MasterCard, said: “Our Gold and Titanium cards provide access to a number of remarkable benefits and offers that complement our customers’ premium lifestyles. We are delighted to collaborate with Maisarah Islamic Banking Services to offer these Shariah-compliant cards - making it more convenient and rewarding for our Islamic banking users.”

Demonstrating a high degree of product innovation and best services, the Islamic window has been recognised for its commitment to lead the Islamic finance market in the Sultanate, earning prestigious awards and titles from leading local and international organisations including the award for ‘Islamic Bank of the Year – Oman’ in 2015 by The Banker, the ‘Best Islamic Bank in Oman 2015’ by Global Banking & Finance Review, ‘Best Islamic Banking Window - Oman 2015’ award by the London based International Finance Magazine (IFM), ‘Best Islamic Community Support Bank 2014’ by Global Financial Market Review and ‘Best Islamic Window in Oman 2013’ by Global Financial Market.

Maisarah offers a wide range of Shariah-compliant financial solutions, products and services that cater to the needs of its retail and corporate customers. As part of its plans to boost its presence nationwide, the Islamic window celebrated the inauguration of five new branches this year bringing the total number of Maisarah branches to 10 branches that are strategically located in major cities across Oman. As part of its future growth plan, the Islamic banking service provider plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

image

    Maisarah Islamic Banking Services Visits Inpatient Children at Hospitals

Muscat, 05 June 2016:To further extend its social involvement and community outreach, the Mujtamaie volunteer team of Maisarah Islamic Banking Services visited inpatient children at Sultan Qaboos University Hospital, Royal Hospital and Khoulah Hospital. Omani football team star Ali Al Habsi – Maisarah’s Brand Ambassador – joined the team, handing over toys and presents to the children to lift up their spirit and share joy and happiness with them.

Sami Omar Al Zadjali, Head of Marketing & Corporate Communications at BankDhofar, elaborated on the various social events and community involvement activities by Mujtamaie team. “These initiatives come in line with our strategy to reinforce our role as an inseparable part of the social fabric and as a socially responsible organisation. I would like to take this opportunity to thank the managements of the hospitals we visited for their cooperation and for facilitating these visits, which gave us the opportunity to meet and great inpatient children on the advent of the holy month of Ramadhan. I would like to also thank Ali Al Habsi for his support and for sharing these moments with the children and their families.”

Taking proactive steps on the path of the Sultanate’s social development and prosperity, Maisarah puts corporate social responsibility (CSR) at the forefront of its commitments. Community and social awareness campaigns, as well as a strong focus on engaging staff, are being promoted through various channels. The bank works towards supporting sustainable CSR initiatives, investing in long term objectives of all its CSR activities. External partnerships with various public and private sector organisations, as well as non-profit and charitable organisations, help Maisarah extend its outreach and play a proactive role in the community, realising its weight as an integral part of the community. More than just financial support and fund-raising, Maisarah is dedicated to sustainable philanthropy causes, participating in events and activities across the Sultanate, collaborating with various organisations and non-profit associations to reinforce its social responsibility and community outreach programmes.

image

    10 Maisarah Islamic Banking Branches Serve Customers across Oman

  • Araqi Branch in Ibri was recently inaugurated as part of Maisarah’s strategic expansion plan to provide innovative Islamic banking solutions nationwide.
  • Maisarah leads the Islamic banking industry in the Sultanate with a wide network of branches, ATMs & CDMs.

Ibri, 26 May 2016:In yet another addition to its expanding network of branches across the Sultanate, Maisarah Islamic Banking Services – BankDhofar’s Islamic window - recently celebrated the official inauguration of its 10th branch in Araqi, Wilayat of Ibri.

The event was held at the newly opened branch under the auspices of H.E. Sheikh Saleh Dhiab Al Rabiey, Wali of Ibri, and was attended by members of BankDhofar and Maisarah’s senior executive management, staff, guests and senior government officials.

The inauguration of Maisarah’s 10th branch comes within efforts by the Islamic banking window to lead the Islamic financial industry in the Sultanate, stressing on its commitment to provide innovative Shariah-compliant products and world-class services to cater to more customers nationwide. As part of Maisarah’s expansion plan, Araqi branch has been opened to fulfil the market demand for Islamic finance solutions and Islamic banking products and services. The new branch is strategically located in Araqi and it has started serving customers from the Wilayat of Ibri and the neighbouring areas. Today Maisarah’s branch network covers the Governorates of Muscat, Dakhiliyah, Batinah, Sharqiyah, Dhofar, Dhahirah.

Showing an impressive growth since its launch in 2013 and demonstrating a high degree of product innovation and best services, the Islamic window has been recognised for its commitment to lead the Islamic finance market in the Sultanate, earning prestigious awards and titles from leading local and international organisations including the ‘Best Islamic Bank in Oman 2015’ by Global Banking & Finance Review, ‘Best Islamic Banking Window - Oman 2015’ award by the London based International Finance Magazine (IFM), the ‘Islamic Bank of the Year – Oman 2015’ award by The Banker, ‘Best Islamic Community Support Bank 2014’ by Global Financial Market Review and ‘Best Islamic Window in Oman 2013’ by Global Financial Market.

Maisarah offers a wide range of Shariah-compliant financial solutions, products and services that cater to the needs of its retail and corporate customers. Maisarah plans to expand its presence across the Sultanate through the addition of new branches. As part of its future growth plan, the Islamic banking service provider plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

image

New Salalah Branch Boosts Maisarah’s Presence in Dhofar Region

Salalah, 11 May 2016:Under the patronage of H.E. Dr. Rasheed bin Al Safi Al Huraibi, Chairman of Oman Tender Board, Maisarah Islamic Banking Services – BankDhofar’s Islamic window - recently inaugurated its 9th branch in Dhofar Governorate as part of the Islamic window’s strategic expansion plans to provide Shariah-compliant products and financial solutions.

The event was held at the newly opened branch in New Salalah, and it was attended by Abdul Hakeem Omar Al Ojaili, Acting CEO of BankDhofar, Dr. Salim Ali Al Dhahab, Chairman of Maisarah’s Shariah Board, as well as members of BankDhofar and Maisarah’s executive management team, staff, guests and senior government officials.

“The New Salalah branch was strategically located in Salalah and it is easily accessible from any part of the city. The branch is also well laid out to serve business banking and priority banking customers. Following the demand for Maisarah’s products and services in Salalah, we decided to expand our operations here to serve more customers and fulfil the market needs. We aspire to see Maisarah in more parts of Oman, and we are very proud of the progress we’ve achieved in a very short time since we started our operations a few years ago,” he noted.

BankDhofar’s Islamic banking window has shown an impressive growth since its launch in 2013 and demonstrated a high degree of product innovation and best services, the Islamic window has been recognised for its commitment to lead the Islamic finance market in the Sultanate, earning prestigious awards and titles from leading local and international organisations including the ‘Best Islamic Bank in Oman 2015’ by Global Banking & Finance Review, ‘Best Islamic Banking Window - Oman 2015’ award by the London based International Finance Magazine (IFM), the ‘Islamic Bank of the Year – Oman 2015’ award by The Banker, ‘Best Islamic Community Support Bank 2014’ by Global Financial Market Review and ‘Best Islamic Window in Oman 2013’ by Global Financial Market.

image

Maisarah Expands Its Operations in Sharqiyah South & Opens New Branch in Sur

  • Sur Branch inauguration is part of Maisarah’s strategic expansion plan to provide innovative Islamic banking solutions across the Sultanate.

Sur, 01 May 2016:Maisarah Islamic Banking Services – BankDhofar’s Islamic window - recently celebrated the expansion of its branch network in the Governorate of Sharqiyah South and officially inaugurated its 8th branch in Sur.

The event was held at the newly opened branch under the auspices of Sayyid Hamad bin Sultan Al Busaidi, Deputy Wali of Sur, and was attended by Abdul Hakeem Omar Al Ojaili, Acting CEO of BankDhofar, Sohail Niazi, Chief Islamic Banking Officer of Maisarah Islamic Banking Services, Ismail Jama Bait Isihaq, Financial Controller at Maisarah Islamic Banking Services, Jamsheed Hamza, Maisarah’s Head of Retail, as well as members of BankDhofar and Maisarah’s executive management, staff, guests and senior government officials.

Abdul Hakeem Omar Al Ojaili, Acting CEO of BankDhofar, hailed the continuous efforts by the Islamic banking window to lead the Islamic financial industry in the Sultanate, stressing on its commitment to provide Shariah-compliant products and services to cater to more customers nationwide. “As part of Maisarah’s expansion plan, Sur branch has been opened to fulfil the market demand for Islamic finance solutions and Shariah-compliant products and services. The branch has started serving customers from Sur and the neighbouring areas and today we celebrated the official commencement of its operations.”

Sohail Niazi, Chief Islamic Banking Officer of Maisarah Islamic Banking Services, also noted that the new branch was strategically located in Sur and it is easily accessible to customers from different parts of Sharqiyah. “We have a team of dedicated and well trained staff whose key task is to meet customers’ individual banking needs and requirements for Islamic finance products and services. Today our branch network covers the Governorates of Muscat, Dakhiliyah, Batinah, Sharqiyah, Dhofar, Dhahirah. We aspire to see Maisarah in more parts of Oman, and we are very proud of the progress we’ve achieved in a very short time since we started our operations a few years ago,” he said.

Showing an impressive growth since its launch in 2013 and demonstrating a high degree of product innovation and best services, the Islamic window has been recognised for its commitment to lead the Islamic finance market in the Sultanate, earning prestigious awards and titles from leading local and international organisations including the ‘Best Islamic Bank in Oman 2015’ by Global Banking & Finance Review, ‘Best Islamic Banking Window - Oman 2015’ award by the London based International Finance Magazine (IFM), the ‘Islamic Bank of the Year – Oman 2015’ award by The Banker, ‘Best Islamic Community Support Bank 2014’ by Global Financial Market Review and ‘Best Islamic Window in Oman 2013’ by Global Financial Market.

Maisarah offers a wide range of Shariah-compliant financial solutions, products and services that cater to the needs of its retail and corporate customers. Maisarah plans to expand its presence across the Sultanate through the addition of new branches. As part of its future growth plan, the Islamic banking service provider plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

image

Over OMR 200K for 374 Customerswith Maisarah’sPrize Account

  • Over OMR 200,000 cash prizesand attractive monthly profit.
  • Maisarah Prize Account is a personal savings account that operates on the principle of Mudaraba.

Muscat, 26 April 2016:Central to its effort to lead the Islamic financial market in the Sultanate, Maisarah Islamic Banking Services has announced the launch of its flagship Maisarah Prize Account.

“The new Maisarah Prize Account is a personal savings account that is based on the Islamic Mudaraba principle, wherein customers share attractive expected profit. Along with the profit paid on monthly basis, the account allows customers to get cash prizes every week and every two months. The prizes will be distributed from the shareholders’ funds,”elaborated Jamsheed Hamza, ExecutiveManager and Head of Retail at Maisarah Islamic Banking Services.

With the new Maisarah Prize Accounteach OMR 100 gives customers the chance to win a cash prize, with a total value of over OMR 200,000 cash prizes and a total number of 374 winners.Onecustomer from each of the 10 Maisarah branches will win OMR 500 every week and one customer pan Oman will win OMR 5,000 every two months.

“We introduced this product to fulfil the needs and requirements of the market forShariah-compliant solutions. The new account is available for individual customers, including adults and minors. Additionally, Maisarah customers can use other banking services and alternate channel services provided by the Islamic window. All account holders who maintain a minimum balance of OMR 100 for 60 days are eligible to enter the thebi-monthly draws. Winners will be randomly selected by an automated system in line with the approved procedures for the prize draw,” noted Jamsheed Hamza.

The Islamic services provider said a comprehensive campaign wastaking place to spread awareness about the new scheme and to promote the culture of saving among customers nationwide. “The unique feature of Maisarah Prize Account is that customers are eligible for the profit due on the account and in addition bank is giving away this prize from its own sources. Hence, it is not only encouraging customers to save but also rewarding them.”

Maisarah has shownan impressive growth since the launch of its services in 2013. The Islamic banking services provider has demonstrated a high degree of product innovation offering best financial solutions. It has been recognised for its commitment to lead the Islamic finance market in Oman, earning prestigious awards and titles from leading local and international organisations. Maisarah offers a wide range of Shariah-compliant products and services that cater to the needs of its retail and corporate customers in different parts of the Sultanate through its expanding network of branches, ATM and CDM facilities. In addition to its dedicated branches in Azaibah, Al Hail, Salalah, Sohar and Birkat Al Mouz, Maisarah has recently opened five new branches in Greater Muttrah, Al Khuwair, Sur, New Salalah and Araqi. The Islamic window plans to expand its presence across the Sultanate through the addition of more branches. As part of its future growth plan, Maisarahwill continue to distinguish itself by focusing on outstanding customer service, developing and launching new innovative products, and investing in technology to provide the best customer experience in timely and convenient manner.

image

image

Maisarah Officially Inaugurates 7th Branch in Al Khuwair

  • Al Khuwair Branch inauguration is part of Maisarah’s strategic expansion plan.
  • The branch providessophisticated Islamic banking solutions in the heart of Muscat.

Muscat, 23April2016: As part of its strategic expansion of its branch network across the Sultanate, Maisarah Islamic Banking Services recently celebrated the official opening of its 7th branch in Al Khuwair. The event was held at the newly opened branch under the auspices of Majeed bin Mohammed AlRawas, Media Advisor at the Ministry of Information.

The ceremony was also attended by Abdul Hakeem Omar Al Ojaili, Acting CEO of BankDhofar, Faisal Hamad Al Wahaibi, Chief Retail Banking Officer, Ismail Jama Bait Isihaq, Financial Controller at Maisarah Islamic Banking Services, as well as members of BankDhofar and Maisarah’s executive management, staff, guests and senior government officials.

In a statement during the event, Jamsheed Hamza, Maisarah’s Head of Retail, said: “The branch has started serving our customers and today we are celebrating the official commencement of its operations. As part of our strategic expansion plan, we aim to provide Shariah-compliant products and services to cater to more customers in different parts of Oman.We aspire to fulfil themarket demand for Islamic finance solutions andShariah-compliant products and services.”

“The new branch is conveniently located in AlKhuwair commercial area and it is easily accessible for customers from different parts of Muscat. The dedicated and trained members of staff work constantly to meet customers’ individual banking needs and requirements for Islamic finance products and services,” added Jamsheed.

Showing an impressive growth since its launch in 2013 and demonstrating a high degree of product innovation and best services, the Islamic window has been recognised for its commitment to lead the Islamic finance market in the Sultanate, earning prestigious awards and titles from leading local and international organisations including the ‘Best Islamic Bank in Oman 2015’ by Global Banking & Finance Review, ‘Best Islamic Banking Window - Oman 2015’ award by the London based International Finance Magazine (IFM), the ‘Islamic Bank of the Year – Oman 2015’ award by The Banker, ‘Best Islamic Community Support Bank 2014’by Global Financial Market Review and ‘Best Islamic Window in Oman 2013’ by Global Financial Market.

Maisarah offers a wide range of Shariah-compliant financial solutions, products and services that cater to the needs of its retail and corporate customers. Maisarah plans to expand its presence across the Sultanate through the addition of new branches. As part of its future growth plan, the Islamic banking service provider plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

image

Maisarah Islamic Banking Services Supports Islamic Finance Seminar

  • Maisarah reaffirms its commitment to contribute to the development of the Omani Islamic financial sector.
  • The seminar focused on the growth opportunities, challenges, and future outlook of Islamic finance in Oman.

Muscat, 20 March 2016:Reiterating its commitment to contribute to the rapid development of the Islamic financial market in the Sultanate, Maisarah Islamic Banking Servicesof Bank Dhofarsupported the inaugural IFN Oman Dialogue and Seminar that was hosted recently by RED money and Islamic Finance News.

Conducted at the Grand Hyatt Hotel in Muscat, the one-day double formatted event was attended by H.E Hamood Sangour Al Zadjali, Executive President of the Central Bank of Oman, H.E. Abdullah Salim Al Salmi, Executive President of Capital Market Authority, Sohail Niazi, Chief Islamic Banking Officer of Maisarah, as well as regulators, industry practitioners and international key players with solid understanding of the local and international banking industry. The seminar focused on the opportunities available in the Omani market for capital raising and investment in the Shariah compliant space.

Commenting on the event, Sohail Niazi - Maisarah’s Chief Islamic Banking Officer – noted: “The Islamic finance industry is developing rapidly in the Sultanate and worldwide. The Omani market looks very promising and there are so many opportunities for investment and growth of businesses. Maisarah has always been keen in leading the Islamic banking market bybuilding up resources, sharing expertise and following best international practices in the market. Our products and services set the standard for best Islamic financial solutions and we are committed to lead with creativity and innovation to provide the best customer experience there is.”

The event encompassed a series of key-note addresses, presentations, panel discussions and case-studies that highlighted the benefits and opportunities currently available in Oman, offering an independent and impartial platform for the identification and resolution of specific issues, challenges and opportunities facing the industry.Industry leaders provided insight on the future outlook of Oman’s Islamic finance landscape and what is expected from market players and regulators to support the sector development.

As a result of its commitment to lead the Islamic finance market in the Sultanate, Maisarah showed an impressive growth since the start of its operations in 2013,demonstrating a high degree of product innovation and offering best services in the market. Over the years the Islamic banking service provider earned a number of prestigious awards and titles from leading local and international organisations including: ‘Islamic Bank of the Year – Oman 2015’ award by The Banker, ‘Best Islamic Bank 2015’ award by the Global Banking and Finance Review magazine, ‘Best Islamic Banking Window - Oman 2015’ award by the International Finance Magazine (IFM).

Visit Maisarah official website www.maisarah-oman.com to learn more about the wide range of products and services, or contact the uptime call centre service on (+968) 24775777 for inquiries.

image

Maisarah Celebrates 1stAnniversary in North Al Batinah

  • The Islamic banking service provider is to expand it network by opening more branches across the Sultanate

  • New products and services will be rolled out to fulfil customers’ needs and requirements

Muscat, 19 January 2016:Maisarah Islamic Banking Services recently celebrated the anniversary of the launch of its services in North Al Batinah Governorate. The event was inaugurated at Sohar Branch under the patronage of H.E. Sheikh Muhanna bin Saif Al Lamki, Governor of North Al Batinah, and was attended by Abdul Hakeem Omar Al Ojaili, BankDhofar's Acting CEO, Sohail Niazi, Maisarah's Chief Islamic Banking Officer, and a number of invited guests, customers and Maisarah staff.

During the event, Sohail Niazi - Maisarah's Chief Islamic Banking Officer – said: “It is a great pleasure to witness yet another year of success in offering quality banking experience to our customers.I would like to take this opportunity to thank Maisarah customers in North Al Batinah Governorate and reaffirm our commitment to continue to enrich our customer banking experience through customised financial products and the best service in the market.”

Showing an impressive growth since the start of its operations in 2013, and demonstrating a high degree of product innovation and best services, Maisarah has been recognised for its commitment to lead the Islamic finance market in the Sultanate, earning prestigious awards and titles from leading local and international organisations including: ‘Islamic Bank of the Year – Oman 2015’ award by The Banker, ‘Best Islamic Bank 2015’ award by the Global Banking and Finance Review magazine, ‘Best Islamic Banking Window - Oman 2015’ award by the International Finance Magazine (IFM).

Maisarah offers a wide range of financial solutions, products and services that cater to the needs of its retail and corporate customersnationwide. The Islamic banking window currently provides products and services out of 5 dedicated branches located in Azaiba, Salalah, Sohar, Birkat Al Mouz and Al Hail. As part of its future growth strategic plan, Maisarah plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

Highlighting Maisarah’s plans for 2016, Jamsheed Hamza - Head of Retail at Maisarah Islamic Banking Services – noted: “We will continues to offer superior customer service, pursuing further business growth and increasing our market share and shareholders value. Our plan is to expand the retail network by opening more branches across the Sultanate to increase our customer and market reach. Additionally, new innovative products and services will be rolled out to fulfil customers’ needs and we will soon launch enhanced internet and mobile banking services in order to enrich our customer experience.”

Visit Maisarah official website www.maisarah-oman.com to learn more about the wide range of products and services, or contact the uptime call centre service on (+968) 24775777 for inquiries.

image

Maisarah Islamic Banking Services Named Oman’s Islamic Bank of the Year for 2015

  • The Banker Magazine of London names Maisarah as the best Islamic Bank in Oman for 2015

  • Maisarah reaffirms its position as one of the leading and fastest growing Islamic banking institutions in Oman by winning a prestigious international award

Muscat, 28 June 2015:Continuing to thrive and going from strength to strength, MaisarahIslamic Banking Services has been announced the winner of "Islamic Bank of the Year - Oman" award for 2015 by The Banker Magazine

Leading the Islamic banking sector in Oman, the competitive and fast-growing financial services provider has been selected among Islamic finance institutions in the Sultanate after achieving striking growth figures since its launch in 2013. Maisarah has demonstrated a high degree of product and service innovation as well as strong activity in Oman’s burgeoning Islamic banking market.

Maisarah has witnessed year-on-year remarkable capital, assets and profitability growth since its launch. More impressively, the bank has generated a suite of 15 financing products and services geared towards individuals, corporate and government institutions.

“Since launch of Maisarah Islamic Banking Services two years ago, we set our vision to be the best financial services and solutions provider in the Sultanate of Oman, and we have taken concrete steps in that direction. Our team of dedicated and highly qualified professionals offers a wide array of banking solutions through innovative products and services,” says Sohail Niazi, Maisarah’s Chief Islamic Banking Officer

Maisarah’s success in Oman has translated into tremendous growth in customers since its launch, in conjunction with significant growth in financing provided across its business segments. More notably, Maisarah has taken a leading role in providing financing solutions to corporate, small and medium-sized enterprises

Significant progress has also been made with respect to product and services development. Maisarah offers a number of trade finance services and treasury products, as well as an award-winning corporate overdraft facility based around the principle of Mudaraba.

Maisarah’s retail operations are based out of four dedicated branches located in Azaiba, Birkat Al Mouz, Salalah and Sohar. In 2015, the Islamic window plans to expand its presence across the country through the addition of new branches. This is in addition to a 24-hour call centre, cash deposit machines and ATMs located across the Sultanate.

“As a part of our operational strategy, we have maintained high standards of corporate governance, research and development, corporate social responsibility and customer service that placed Maisarah at the top of the best Islamic banking services providers in the country,” added Sohail Niazi.

As part of its future growth plan, Maisarah plans to distinguish itself by focusing on providing outstanding customer service, developing and launching new products, investing in technology to provide the best customer experience in timely and convenient manner.

Visit Maisarah official website www.maisarah-oman.com to learn more about the wide range of products and services, or contact the uptime call centre service on (+968) 24775777 for inquiries.

image

Maisarah Sharia Supervisory Board Holds 4th Meeting for 2015

  • The meeting discussed innovative products and services offered by Maisarah.
  • The board reviewed and approved Sharia audit and profit distribution reports.

Muscat, 13 October 2015: The Sharia Supervisory Board (SSB) of Maisarah Islamic Banking Services recently held its 4th meeting for 2015 at Maisarah’s headquarters in Azaiba. The meeting was chaired by Sheikh Dr. Salem Ali Al Dahab, Chairman of the Sharia Supervisory Board, and was attended by board members: Dr. Mohammed Ali Al Lawati, Sheikh Ahmed Awadh Al-Hassaan, Dr. Abdullah Mubarak Al Abri and Dr. Mohammad Ameen Qattan.

In the meeting, various innovative products and services related to different business segments were reviewed and approved by the board along with Sharia Audit and profit distribution reports.

Meanwhile, Maisarah’s executive management team met with the Sharia Supervisory Board and discussed the current progress of Islamic banking services provider as well as the latest updates and current changes in the dynamic Islamic banking industry across the Sultanate.

The board also assessed the overall Sharia compliance mechanism to ensure meeting the highest standards of regulatory and Sharia compliance.

Maisarah offers a wide range of Shariah-compliant financial solutions, products and services that cater to the needs of its retail and corporate customers. The Islamic banking window currently provides products and services out of 5 dedicated branches located in Azaiba, Salalah, Sohar, Birkat Al Mouz and Al Hail in addition to the Corporate Banking Division in Azaiba. As part of its future growth strategic plan, Maisarah plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

Maisarah Islamic Banking services showed an impressive growth since the start of its operations in 2013 and demonstrated a high degree of product innovation and best services. The Islamic window has been recognised for its commitment to lead the Islamic finance market in the Sultanate, earning prestigious awards and titles from leading local and international organisations. This year Maisarah was awarded the ‘Best Islamic Banking Window - Oman 2015’ award by the London based International Finance Magazine (IFM) and the ‘Islamic Bank of the Year – Oman 2015’ award by The Banker.

Visit Maisarah official website www.maisarah-oman.com to learn more about the wide range of products and services, or contact the uptime call centre service on (+968) 24775777 for inquiries.

image

Maisarah signs an agreement with Shaza Oman to finance 5-star hotel project in Muscat

Muscat, 11 October 2015: Part of its strategic growth plan and continuous efforts to finance large-scale projects across the Sultanate, Maisarah Islamic Banking Services signed an agreement with Shaza Oman to finance the construction of its flagship 5-star hotel in Muscat.

The agreement was signed by Abdul Hakeem Al Ojaili, Acting CEO of BankDhofar, Eng. Abdul Rahman Ba Omar, CEO of Al Madina Real Estate, and Eng. Mohammad Al Ghassani, CEO of GLOREI. The signing ceremony was also attended by Eng. Khamis Mubarak Al Kiyumi - Chairman of Shaza Muscat, Sohail Niazi, Chief Islamic Banking Officer – Maisarah, and a number of officials from both sides

Faisal Al Tamimi, Head of Wholesale Banking Maisarah Islamic Banking Services, reaffirmed Maisarah’s position as the partner choice for such large-scale projects that contribute to the development of the national economy and boost the tourism and hospitality sector. “We at Maisarah continue to be the leading provider of Shariah-compliant products and services for both retail and corporate customers. This agreement comes as part of our broader strategic plan and continuous efforts and to provide tailored financial solutions to our diverse customer base,” he stated.

As per the agreement, Maisarah is to finance the 5-star hotel that is currently being constructed by Shaza Oman Company SAOC. The project is located in Al Khuwair, adjacent to Muscat Grand Mall (MGM). The hotel comprises of standard rooms, executive rooms, suites, ballroom, themed restaurants, among other facilities. The hotel is to be managed by the prestigious Millennium & Copthorne Hotels and is scheduled to have a soft launch during December 2015.

As per the agreement, Maisarah is to finance the 5-star hotel that is currently being constructed by Shaza Oman Company SAOC. The project is located in Al Khuwair, adjacent to Muscat Grand Mall (MGM). The hotel comprises of standard rooms, executive rooms, suites, ballroom, themed restaurants, among other facilities. The hotel is to be managed by the prestigious Millennium & Copthorne Hotels and is scheduled to have a soft launch during December 2015.Showing an impressive growth since the start of its operations in 2013, Maisarah has been recognised for its commitment to lead the Islamic finance market in the Sultanate, earning prestigious awards from leading international organisations including the ‘Islamic Bank of the Year – Oman 2015’ award by The Banker, the ‘Best Islamic Banking Window - Oman 2015’ award by the London based International Finance Magazine (IFM), , ‘Best Islamic Community Support Bank 2014’ by Global Financial Market Review and ‘Best Islamic Window in Oman 2013’ by Global Financial Market.

Maisarah offers a wide range of Shariah-compliant financial solutions, products and services that cater to the various needs of its retail and corporate customers. It provides products and services from 5 dedicated branches located in Azaiba, Salalah, Sohar, Birkat Al Mouz and Al Hail. As part of its future growth strategic plan, Maisarah plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

Visit Maisarah official website www.maisarah-oman.com to learn more about the wide range of products and services, or contact the uptime call centre service on (+968) 24775777 for inquiries.

image

Under the patronage of H.E. Wali of Seeb Maisarah Islamic Banking Services launches new branch in Al Hail

  • Maisarah branches are located in Al Hail, Azaiba, Salalah, Sohar&Birkat Al Mouz
  • The new branch is set to serve customers with a wide range of Islamic products and services

Muscat, 07 October 2015: Under the patronage of H.E. Sheikh Ibrahim Bin Yahya Al Rawahi, Wali of Seeb, Maisarah Islamic Banking Services celebrated the official launch of its fifth branch in Al Hail. The launch of Al Hailbranch comes as part of the Islamic window’sgrowth strategy and to provide world-class Islamic banking products, services and banking solutions to customers in different locations across Oman.

The launch ceremony was attended by Abdul Hakeem Omar Al Ojaili, Acting Chief Executive Officer of BankDhofar, and Sohail Niazi, Chief Islamic Banking Officer – Maisarah, as well as invited guests, Sheikhs and dignitaries from Wilayat of Seeb, and executive management team members and staff from BankDhofar and Maisarah Islamic Banking Services.

Jamsheed Hamza Head of Retail Banking– Maisarah, said during the inauguration ceremony: “There has been an increasing demand on Shariah-compliant banking products and financial solutions, and the launch of Maisarah’s services in Al Hail will definitely fulfil the market demand for Islamic products and services in Al Seeb and neighbouring areas.”

Manal Al Zadjali, Al Hail Branch Manager, said: “The new Maisarah branch in Al Hail is set up with a team of trained islamic banking representative with a focus on serving the customers with the right product and service.. The branch team is successfully providing customers with the best banking experience, fulfilling their needs and meeting their requirements.”

Showing an impressive growth since the start of its operations in 2013, and demonstrating a high degree of product innovation and best services, Maisarah has been recognised for its commitment to lead the Islamic finance market in the Sultanate, earning prestigious awards and titles from leading local and international organisations including the ‘Best Islamic Banking Window - Oman 2015’ award by the London based International Finance Magazine (IFM), the ‘Islamic Bank of the Year – Oman 2015’ award by The Banker, ‘Best Islamic Community Support Bank 2014’by Global Financial Market Review and ‘Best Islamic Window in Oman 2013’ by Global Financial Market.

Maisarah offers a wide range of Shariah-compliant financial solutions, products and services that cater to the needs of its retail and corporate customers. The Islamic banking window currently provides products and services out of 5 dedicated branches located in Azaiba, Salalah, Sohar, Birkat Al Mouz and Al Hail. As part of its future growth strategic plan, Maisarahplans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

Visit Maisarah official website www.maisarah-oman.com to learn more about the wide range of products and services, or contact the uptime call centre service on (+968) 24775777 for inquiries.

image

image

image

Maisarah Staff Conclude Professional Training Programme

Muscat, 25August 2015:In line with its comprehensive growth strategy that aim to implement world’s best banking practices and provide highest levels of customer experience, Maisarah Islamic Banking Services recently concluded aglobally recognised training programmewhere over 40 members of Maisarah team successfully completed the training and exam to qualify as Certified Islamic Finance Executive (CIFE).

The 4-month programme was conducted by Ethica Institute of Islamic Finance, world renowned Islamic finance training institution, and aimedto establish and maintain highest standards of Islamic banking and financial services by equipping members of staff from all Maisarah branches and different departments with the necessary knowledge and skills to better perform their tasks and enrich the customer experience.

Jamsheed Hamza, Head of Retail at Maisarah Islamic Banking Services, said: “Maisarah has been at the forefront of Islamic banking excellence through staff training and development. At Maisarah we believe that only qualified team members can enrich our customers’ experience and deliver best service. The modules covered in this training programme included all aspects of Islamic finance such as fundamentals of Islamic banking and financial services, products and financial solutions such as Murabaha, Mudharabah, Ijara, Sukuk, Takaful, , , etc.”

Ethica has certified professionals in over 160 financial institutions across 64 countries with its Certified Islamic Finance Executive (CIFE), a globally recognised certificate accredited by scholars to fully comply with AAOIFI, the world's leading Islamic finance standard.

The event was held at Crowne Plaza Hotel in Muscat and was attended by executive management team from BankDhofar and Maisarah Islamic Banking Services as well as staff and representatives from EthicaInstitute of Islamic Finance. Showing an impressive growth since the start of its operations in 2013 and demonstrating a high degree of product innovation and best services, Maisarah has been recognised for its commitment to lead the Islamic finance market in the Sultanate, earning prestigious awards and titles from leading local and international organisations including the ‘Best Islamic Banking Window - Oman 2015’ award by the London based International Finance Magazine (IFM), the ‘Islamic Bank of the Year – Oman 2015’ award by The Banker, ‘Best Islamic Community Support Bank 2014’by Global Financial Market Review and ‘Best Islamic Window in Oman 2013’ by Global Financial Market.

Maisarah offers a wide range of Shariah-compliant financial solutions, products and services that cater to the needs of its retail and corporate customers. The Islamic banking window currently provides products and services out of 5 dedicated branches located in Azaiba, Salalah, Sohar, Birkat Al Mouz and Al Hail in addition to the Corporate Banking Division in Azaiba. As part of its future growth strategic plan, Maisarah plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

Visit Maisarah official website www.maisarah-oman.com to learn more about the wide range of products and services, or contact the uptime call centre service on (+968) 24775777 for inquiries.

image

New Maisarah Islamic Banking Services Branch Launched in Al Hail

  • Maisarah branches are located in Al Hail, Azaiba, Salalah, Sohar&Birkat Al Mouz

  • 5 branches opened since 2013 & more planned as part of Maisarah’s strategic growth plan

  • The new branch is set to serve customers with a new look & feel of Maisarah brand & banking philosophy

Muscat, 11 August 2015:Central to its strategic plan to expand its presence across the Sultanate through the addition of new branches, Maisarah Islamic Banking Services recently launched its fifth branch in Al Hail after the successful establishment of Azaiba, Salalah, Sohar and Birkat Al Mouzbranches.The launch of Al Hailbranch comes as part of the Islamic window’sgrowth strategy and to provide world-class Islamic banking products, services and banking solutions to customers in different locations across Oman.

Manal Al Zadjali, Al Hail Branch Manager, elaborated on the soft launch of the new branch. “The new Maisarah branch in Al Hail is now open and is all set to serve our customers with a new look and feel that defines Maisarah brand and philosophy in banking. The branch team is ready and all geared up to provide our customers with the best banking experience,” she said.

“Today Maisarah Islamic Banking Services are available to customers in Al Seeb and neighbouring areas, few weeks after the launch of Birkat Al Mouz Branch that serves Al Dhakhiliyah Governorate customers.Maisarah aspires to fulfil the market demand for Islamic products and services for both retail and business banking customers, and there has been an increasing demand on Shariah-compliant banking products and financial solutions,” added Manal Al Zadjali.

Showing an impressive growth since the start of its operations in 2013 and demonstrating a high degree of product innovation and best services, Maisarah has been recognised for its commitment to lead the Islamic finance market in the Sultanate, earning prestigious awards and titles from leading local and international organisations including the ‘Best Islamic Banking Window - Oman 2015’ award by the London based International Finance Magazine (IFM), the ‘Islamic Bank of the Year – Oman 2015’ award by The Banker, ‘Best Islamic Community Support Bank 2014’by Global Financial Market Review and ‘Best Islamic Window in Oman 2013’ by Global Financial Market.

Maisarah offers a wide range of Shariah-compliant financial solutions, products and services that cater to the needs of its retail and corporate customers. The Islamic banking window currently provides products and services out of 5 dedicated branches located in Azaiba, Salalah, Sohar, Birkat Al Mouz and Al Hail. As part of its future growth strategic plan, Maisarahplans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

Visit Maisarah official website www.maisarah-oman.com to learn more about the wide range of products and services, or contact the uptime call centre service on (+968) 24775777 for inquiries.

/

Maisarah Sponsors Awarding Ceremony for the Quran Recitation Competition

  • Under the auspices of H.E. Sheikh Ahmed bin Saud Al Siyabi, Secretary-General of the Office of the Grand Mufti of the Sultanate
  • Participants from 54 schools in Seeb
  • Maisarah supports initiative to contribute to community development

Muscat, 8 July2015:The Directorate of Education in Seeborganised an honouring ceremony for winnersatthe Quran Recitation Competition that was organised byKaab bin Zaid School. The event was held at Al QasrOmaraa Hall under the auspices of H.E. Sheikh Ahmed bin Saud Al Siyabi, Secretary-General of the Office of the Grand Mufti of the Sultanate, and was attended by representatives from BankDhofar and Maisarah Islamic Banking Services, as well as officials from the Ministry of education and invited guests

Maisarah Islamic Banking Services sponsored the competition as part of its support to various initiatives by local educational institutions that aim to contribute to the development of the community. Following the tremendous success of its first and second editions, the annual competitioncame this year on a larger scale, witnessing the participation of students from 54 schools in the Wilayat of Al Seeb in addition to 30 participants from the local community. The competition startedin February2015 and participants who were nominated for the final stage hadto compete in the last three days of the contestwhichtook placeduring the holy month of Ramadan. The final awarding ceremony brought together high profile guests of honour and officials representing the Ministry of Education and other organisations

Maisarah continuously works to strengthen its social involvement and support to various community and social initiatives. Thesponsorship of such social and educational initiatives strengthensthe business-community involvement while promoting the culture of giving back to society. The involvement of Maisarah in such public initiatives also increases the awareness of Islamic finance and banking in the Sultanate. The full-service provider of a broad range of Sharia-compliant financial products and solutionsis one of the fastest growing Islamic banking windows in the Sultanate with dedicated branches in Azaiabah, Birkat Al Mouz, Salalah and Sohar

As part of its future growth plan, Maisarah plans to distinguish itself by focusing on providing outstanding customer service, developing and launching new products, investing in technology to provide the best customer experience in timely and convenient manner.Visit Maisarah official website www.maisarah-oman.com to learn more about the wide range of products and services, or contact the uptime call centre service on (+968) 24775777 for inquiries

/

Maisarah Islamic Banking Services Kicks off Operations at Birkat Al Mouz Branch

    Muscat, 06 July June 2015: Maisarah Islamic Banking Services recentlyopenedits fourth branch after successful establishment of Azaiba, Salalahand Sohar branches. The soft launch of the Birkat Al Mouzcomes as part of the Islamic window’s strategy to extend its outreach across the Sultanate and to provide world-class Islamic banking products and services to customers in Dhakhliya governorate and neighbouring areas.

    Commenting on the soft launch of Birkat Al Mouz branch, Sohail Niazi –AGM at Maisarah Islamic Banking Services – noted: “We are very delighted to extend our network of branches to cater to more customers in different parts of Oman. We aspire to fulfil themarket demand for Islamic products and services for both retail and business banking customers.Since the establishment of Maisarah in 2013 there has been an increasing demand on Shariah-compliant banking products and financial solutions. The wide range of options available for our customers is tailor-made to suit their requirements, fulfil their needs and meet their aspirations.”

    Showing an impressive growth since its launch in 2013 and demonstrating a high degree of product innovation and best services, the Islamic window has been recognised for its commitment to lead the Islamic finance market in the Sultanate, earning prestigious awards and titles from leading local and international organisations including the ‘Best Islamic Banking Window - Oman 2015’ award by the London based International Finance Magazine (IFM), the ‘Islamic Bank of the Year – Oman 2015’ award by The Banker, ‘Best Islamic Community Support Bank 2014’by Global Financial Market Review and ‘Best Islamic Window in Oman 2013’ by Global Financial Market.

    Mohammed Al Ishaqi, Birkat Al Mouz Branch Manager, also noted: “The new Birkat Al Mouz branch is all set to serve our customers with a new look and feel that defines Maisarah brand and philosophy in banking. The branch team is ready and all geared up to provide our customers with the best banking experience.”

    Maisarah offers a wide range of Shariah-compliant financial solutions, products and services that cater to the needs of its retail and corporate customers. Maisarah currently provides products and services out of four dedicated branches located in Muscat, Salalah, Sohar and Barkat Al Mouz. In 2015, Maisarah plans to expand its presence across the Sultanate through the addition of new branches. As part of its future growth plan, the Islamic banking service provider plans to distinguish itself by focusing on prominent customer service, developing and launching new products, and investing in technology to provide the best customer experience in timely and convenient manner.

    Visit Maisarah official website www.maisarah-oman.comto learn more about the wide range of products and services, or contact the uptime call centre service on (+968) 24775777 for inquiries.

    /

    Maisarah Launches ‘Ahlan Ramadan’ Exclusive Offers

    • Attractive profit rate of 4.20%p.a. on all types of finance (property finance, auto finance, goods finance and personal finance)
    • Offer valid till 15 July, 2015
    • No instalments till August 2015

    Muscat, 19 May 2015: Maisarah Islamic Banking Services announced the launch of its promotional campaign for the holy month of Ramadan, offering special pricing scheme for property finance, auto finance, goods finance and personal finance.

    Urging customers to seize the opportunity and enjoy the ‘Ahlan Ramadan’ promotions that are valid from 15th May 2015 through 15th July 2015, Jamsheed Hamza - Maisarah’s Head of Retail – said: “We have reduced the profit rates to 4.20%p.a. on all property finance, auto finance, goods and personal finance. Customers can also enjoy a no-repayment grace period where repayments start only from August 2015 and no instalments have to be paid in May, June or July. However, the profit accrues for the period starting from disbursement.”

    “To further extend our customers benefit, the property finance special offer is valid for one year from the date of disbursement. All other types of finance pricing will be valid for six months from the date of disbursement,” stated Jamsheed Hamza.

    Maisarah is a full-service provider of a broad range of Sharia-compliant financial products and solutions. Maisarah is one of the fastest growing Islamic banking windows in the Sultanate with a dedicated head office in Muscat (Azaibah) and branches in Muscat, Salalah and Sohar. Maisarah maintains a complete segregation of business activities in order to provide Sharia compliant financial services for its valued customers. As a part of its strategy, the Islamic banking window has maintained high standards of corporate governance, research and development, corporate social responsibility and customer service that have helped in winning various awards in local and international markets.

    As part of its future growth plan, Maisarah plans to distinguish itself by focusing on providing outstanding customer service, developing and launching new products, investing in technology to provide the best customer experience in timely and convenient manner.

    Sponsored by Maisarah, Participants at the Quran Recitation Competition Honoured

    • The competition is organised by Kaab bin Zaid School with over 3,000 participants from 54 schools
    • Maisarah supports initiative to contribute to community development

    Muscat, 9 May 2015: The Directorate of Education in Seeb organised an honouring ceremony for students who participated in the Quran Recitation Competition that is organised by Kaab bin Zaid School.

    The event took place at the Directorate of Education premises in Seeb and was attended by representatives from BankDhofar and Maisarah Islamic Banking Services, as well as officials from the Ministry of education and invited guests.

    Maisarah Islamic Banking Services is sponsoring the competition as part of its support to various initiatives by local educational institutions that aim to contribute to the development of the community. Following the tremendous success of its first and second editions, the annual competition comes this year on a larger scale, witnessing the participation of over 3,000 students from 54 schools in the Wilayat of Al Seeb. The competition started in February and participants who are nominated for the final stage will have to compete in the last three days of the contest which will take place in June and July (during the holy month of Ramadan). The final awarding ceremony is scheduled on 5th of July 2015 and is expected to bring together high profile guests of honour and officials representing the Ministry of Education and other organisations.

    Commenting on the competition, Jamsheed Hamza, Head of Retail Banking at Maisarah, said: “We at Maisarah are working continuously and constantly to strengthen our social involvement to support various community and social initiatives. Our sponsorship of such social and educational initiatives strengthens the business-community involvement while promoting the culture of giving back to society. The involvement of Maisarah in such public initiatives also increases the awareness of Islamic finance and banking in the Sultanate.”

    “Participants showed a great spirit and hard work since the competition started in February. They have achieved high levels of Quran recitation skills, and I would like to take this opportunity to extend sincere thanks and gratitude to the Ministry of Education for their support and to Kaab Bin Zaid School for launching this big initiative and for the successful organisation of all stages of the competition,” he added.

    Maisarah is a full-service provider of a broad range of Sharia-compliant financial products and solutions. Maisarah is one of the fastest growing Islamic banking windows in the Sultanate with a dedicated head office in Muscat (Azaiabah) and branches in Muscat, Salalah and Sohar.

    Maisarah maintains a complete segregation of business activities in order to provide Sharia compliant financial services for its valued customers. As a part of its strategy, the Islamic banking window has maintained high standards of corporate governance, research and development, corporate social responsibility and customer service that have helped in winning various awards in local and international markets.

    As part of its future growth plan, Maisarah plans to distinguish itself by focusing on providing outstanding customer service, developing and launching new products, investing in technology to provide the best customer experience in timely and convenient manner.

    /

    Maisarah Islamic Banking Services Offer Best Solutions to Customers across the Sultanate

    • Various options of saving accounts, current accounts, auto finance, home finance & fixed deposit
    • Maisarah is to launch more Sharia compliant products, services & financial solutions to cater for customers’ needs & meet their aspirations

    Muscat, 16 April 2015: In line with its vision to provide the best Islamic banking solutions, Maisarah continues to offer a wide range of products and services, employs state-of-the-art technology and follows best international Islamic banking practices to ensure high quality of service.

    Maisarah, with a dedicated product development unit, has introduced the best products for its customers and continues to work on extensive product range to be rolled out in the future. Today Maisarah offers various options of retail banking such as saving accounts, current accounts, auto finance, home finance and fixed deposit. Maisarah Corporate Banking also offers a wide range of Islamic banking solutions, including: Diminishing Musharakah, Murabaha, trade finance products and other Shari’a compliant products.

    Sohail Niazi, Maisarah’s Chief Islamic Banking Officer, highlighted the Islamic window’s commitment to provide easy and innovative Islamic banking solutions. He noted: “Our innovative Islamic banking products and services are designed to fulfil our customers’ needs and meet their expectations. We have successfully launched a number of Islamic banking solutions that received a very positive feedback from our valued customers, and that encourages us to continue in the same direction. We are proud to be the leading Islamic banking service provider across Oman and we hope to expand our outreach within the Sultanate.”

    He added: “More products and services are in the pipeline for this year, and we are looking forward to see Maisarah full-fledged Islamic banking solutions raise the bar for Islamic banking in the Sultanate.”

    Islamic banking continues to grow globally and has shown very healthy growth in Oman since its launch just over two years ago. Maisarah has seen increasing demand and interest in its products and services from all segments of economy. A wide range of companies across various industries covering construction, manufacturing, real estate, mining, trading, hospitality, tourism and many others have started to explore and utilize Islamic banking option as a viable complement or alternative to conventional banking services.

    Maisarah is one of the fastest growing Islamic banking windows in the Sultanate with range of financial products and services and a dedicated head office in Muscat and branches in Muscat, Salalah and Sohar. As a part of its strategy it operates a segregated Islamic banking window and has maintained high standards of corporate governance, research and development, corporate social responsibility and customer service that have helped in winning various awards in local and international markets.

    In order to ensure that all the business operations conducted are in-line with the Sharia principles, Maisarah’s Sharia Compliance and Audit department works under the supervision of Sharia Supervisory Board (SSB) to ensure highest standards of Sharia compliance. Furthermore, Maisarah has entered into an engagement with an External Sharia Auditor that conducted a third party independent Sharia audit and review to ensure highest standards of Sharia compliance are maintained within Maisarah.

    /

    Maisarah Conducts Corporate Banking Seminar in Salalah

    • The seminar aims to provide an overview of Islamic banking products and services
    • Business and corporate customers discuss Maisarah’s corporate banking solutions

    Salalah, 23 February 2015: Reaffirming its position as a leading full-fledged Islamic banking service provider in the Sultanate, Maisarah Islamic Banking Services recently conducted a seminar at the Hilton Hotel Salalah. The full-day event aimed to increase awareness of Islamic banking options available in the market, and showed Maisarah’s commitment to provide best service and to strengthen its ties with corporate customers.

    This was the first of series of seminars planned to be offered across Oman for the benefit of large corporates, small and medium sized companies and other institutions. It was attended by Maisarah corporate customers and high profile guests from the Salalah region, as well as Maisarah team members representing Corporate banking, treasury and retail business units. The seminar provided a professional forum to discuss various topics related to Islamic banking products and services.

    Faisal Al Tamimi, Head of Wholesale Banking, highlighted the wide range of financial solutions and services available to corporate and SME customers to address their short, medium and long term financing needs and working capital requirements. He presented innovative project financing products and a complete set of trade finance solutions available to customers and stressed the flexibility of Islamic banking solutions to cater to the vast category of business customers across the Sultanate. “We are very delighted to host this seminar and privileged to get the opportunity to meet with our corporate customers and demonstrate our commitment to business success of our customers. All our corporate products and services are designed with customer perspective and customer business support in mind,” he noted.

    The seminar also highlighted treasury solutions available to Maisarah’s customers. Yousuf Al Balushi, Head of Maisarah Treasury, provided an overview of range of treasury products to help institutional customers manage their cash, liquidity and foreign exchange transactions using Islamic banking products. “We are positioned to provide treasury services required by companies of all sizes. We work with our customers as trusted advisors and partners to find best treasury solutions at competitive terms. We already have a number of very satisfied customers working with us on day to day basis and we remain one of the leading treasury service provider in Oman”.

    Islamic banking continues to grow globally and has shown very healthy growth in Oman since its launch just over two years ago. Maisarah has seen increasing demand and interest in its products and services from all segments of economy. A wide range of companies across various industries covering construction, manufacturing, real estate, mining, trading, hospitality, tourism and many others have started to explore and utilize Islamic banking option as a viable complement or alternative to conventional banking services.

    Mr. Jagannathan, Group CFO of Salem Mohiyuddin Group, who attended the seminar stated, “This session was much needed and we appreciate the effort by Maisarah Team to arrange this for us in Salalah. Islamic Banking is now part of the system and as business professionals it is essential for us to understand the principles and mechanics of the Islamic banking products and services available in the market. Even those who want to avail this option are sometimes reluctant since they are not fully aware of what is involved. After attending this seminar I will have better appreciation of products and services offered by Islamic Banks”.

    Maisarah is one of the fastest growing Islamic banking windows in the Sultanate with range of financial products and services and a dedicated head office in Muscat and branches in Muscat, Salalah and Sohar. As a part of its strategy it operates a segregated Islamic banking window and has maintained high standards of corporate governance, research and development, corporate social responsibility and customer service that have helped in winning various awards in local and international markets.

    Visit Maisarah official website www.maisarah-oman.com to learn more about the wide range of products and services, or contact the uptime call centre service on (+968) 24775777 for inquiries.

    /

    Maisarah Sponsors Quran Recitation Competition in Its 3rd Edition

    • The competition is organised by Kaab bin Zaid School
    • Over 3,000 participants from 54 schools
    • Maisarah supports initiative to contribute to community development

    Muscat, 10 February 2015: Extending its support to various initiatives by local educational institutions that aim to contribute to the development of the community, Maisarah Islamic Banking Services of BankDhofar is sponsoring the Quran Recitation Competition that is organised by Kaab bin Zaid School in Al Seeb.

    Following the tremendous success of its first and second editions, the annual competition comes this year on a larger scale, witnessing the participation of over 3,000 students from 54 schools in the Wilayat of Al Seeb. The competition is open to all students from grades 1 -12 and it starts on February 15th, 2015. Participants who are nominated for the final stage will then have to compete in the last three days of the contest which will take place in June and July (during the holy month of Ramadan). The awarding ceremony is scheduled on 5th of July 2015 and is expected to bring together high profile guests of honour and officials representing the Ministry of Education and other organisations.

    Commenting on the sponsorship, Jamsheed Hamza, Head of Retail Banking at Maisarah, said: “This sponsorship is part of our corporate commitment to support various community and social initiatives. It also promotes educational activities organised by schools, colleges and universities in the Sultanate.”

    “The sponsorship of such social and educational initiatives strengthens the business-community involvement while promoting the culture of giving back to society. The involvement of Maisarah in such public initiatives also increases the awareness of Islamic finance and banking in the Sultanate,” he added.

    Maisarah is a full-service provider of a broad range of Sharia-compliant financial products and solutions. Maisarah is one of the fastest growing Islamic banking windows in the Sultanate with a dedicated head office in Muscat (Azaiabah) and branches in Muscat, Salalah and Sohar.

    Maisarah maintains a complete segregation of business activities in order to provide Sharia compliant financial services for its valued customers. As a part of its strategy, the Islamic banking window has maintained high standards of corporate governance, research and development, corporate social responsibility and customer service that have helped in winning various awards in local and international markets.

    As part of its future growth plan, Maisarah plans to distinguish itself by focusing on providing outstanding customer service, developing and launching new products, investing in technology to provide the best customer experience in timely and convenient manner.

    Visit Maisarah official website www.maisarah-oman.com to learn more about the wide range of products and services, or contact the uptime call centre service on (+968) 24775777 for inquiries.

    /

    Maisarah launches Wakala investment option

    Maisarah Islamic Banking services recently launched Shariah compliant investment opportunity for fixed deposit & call deposit in all the major currencies as part of ramped up initiatives to provide a wider spectrum of investment choices for clients. Like all Maisarah products and services, Wakala investment is a Shariah compliant opportunity for customers to earn attractive returns.

    Commenting on the launch, Sohail Niazi, Chief Islamic Banking Officer, Maisarah, said, “We are proud to witness the launch of yet another product from Maisarah targeted at providing our customers with the best financial options of Sharia compliant Islamic banking. The Wakala structure will give customers a flexible, reliable and safe investment option for their funds. As one of Oman’s leading Islamic banking windows, developing products that are consistent with the market requirements remains paramount. It also forms an integral part of our strategy to prioritise the interests of customers at all times.”

    Emphasising the significant benefits and opportunities that the product offers to customers, Yousuf Mohammed Al Balushi Head of Treasury said, “With Ameen Term Deposit and Ameen Investment Account our valued customers can expect a high rate of returns. They also have the advantage of being able to choose from multiple tenors ranging from 1 month to 5 years of investment that are Sharia compliant in order to maximize their overall returns.”

    Maisarah’s newly introduced product is now part of a growing list of similar innovative features that give Islamic banking customers attractive solutions by offering comprehensive and Shariah compliant banking products. The Islamic banking window has rolled out more than a few products and services in recent months that reflect its commitment to better provide customer service.

    PR_Maisarah_YousufAlBAlushi_small

    Maisarah Islamic Services strikes a deal to finance The Wave Plaza Hotel in the Wave – Muscat

    In line with Maisarah Islamic Banking Services’ vision to provide financing solutions to both retail and corporate clients, Maisarah signed yesterday an agreement with Taameer Investment to finance “The Wave Plaza” hotel project. Abdul Hakeem Omar Al Ojaili, Acting CEO of BankDhofar and Suleiman Masoud Al-Harthi, CEO of Taameer Investment represented both parties. The signing ceremony took place at Grand Hayat during a press conference and has been attended by top management of both companies.
    Abdul Hakeem Al Ojaili, Acting CEO of BankDhofar commented during the press conference: “Our partnership with Taameer Investment is part of Maisarah’s ongoing strategy to develop and implement financing options for our corporate customers that are Sharia compliant and offer alternatives to conventional financing. We are proud to be in partnership with Taameer Investment to provide solutions to our customers that are in line with our commitment to provide an innovative range of financial solutions to our customers whether they are individuals or corporate houses.”
    Suleiman Bin Masood Al-Harthy, CEO of Taameer Investment, commented: “we are very pleased to sign the financing contract with Bank Dhofar “Maisarh” for our new project “The Wave Plaza Hotel” a project which we are launching today which is added to our series of hospitality, real estate and commercial complex which are developed and owned by Taameer Investment.”

    Sohail Niazi, Chief Islamic Banking Officer of Maisarah added: “We are very proud of this new partnership. Taameer Investment is one the leading companies in the industry and this partnership will enable us to be part of development of internationally upscale boutique hotel – The Wave Plaza. This partnership is aligned directly with our strategy as Maisarah’s corporate banking solutions are specially formulated to ensure that businesses have access to the right products and financial instruments at critical stages of growth to maximise their potential.”
    Maisarah off¬ers a wide range of Sharia compliant Corporate Banking solutions, including; Diminishing Musharakah, Murabaha and Trade finance products and other Sharia compliant products.
    Maisarah caters to a large number of corporate & business entities representing various sectors of the economy. By providing financial solutions for the needs of the Large Corporate entities, Mid Corporate entities & Small & Medium Enterprises (SMEs), Maisarah is committed towards developing Sharia compliant environment and banking services in the Sultanate.
    Faisal Ali Al Tamimi, Head of Corporate Banking at Maisarah commented during the press conference: “Our focus in corporate banking is about understanding our customers’ business, operations and financial requirements. We provide tailor-made and cutting edge Sharia compliant financial solutions that are in line with their business needs. Our Corporate Banking Services aim to facilitate financial services to our customers to run their business under Sharia Principals by way of offering them all kinds of Sharia based financial products, to provide innovative Sharia-compliant financial solutions, diverse product of¬ferings & quality services to our customers and to develop & nurture long-term mutual relationships with the customer by way of of¬fering personalized professional services”
    At Maisarah, we believe the relationship with the customers gets immediately started, the moment you approach us, hence we take you as our partner and connect you to the dedicated team of RMs, who are available in all business centers to provide you all kinds of advices & guidance. You just need to contact them, provide certain kinds of information related to your business while we assure you that your application is processed at very fast track..
    At Maisarah, we believe the relationship with the customers gets immediately started, the moment you approach us, hence we take you as our partner and connect you to the dedicated team of RMs, who are available in all business centers to provide you all kinds of advices & guidance. You just need to contact them, provide certain kinds of information related to your business while we assure you that your application is processed at very fast track..
    At Maisarah, we believe the relationship with the customers gets immediately started, the moment you approach us, hence we take you as our partner and connect you to the dedicated team of RMs, who are available in all business centers to provide you all kinds of advices & guidance. You just need to contact them, provide certain kinds of information related to your business while we assure you that your application is processed at very fast track..
    At Maisarah, we believe the relationship with the customers gets immediately started, the moment you approach us, hence we take you as our partner and connect you to the dedicated team of RMs, who are available in all business centers to provide you all kinds of advices & guidance. You just need to contact them, provide certain kinds of information related to your business while we assure you that your application is processed at very fast track..
    “ Abdul Hakeem (Strategic focus)
    Abdul Hakeem (Strategic focus)
    Abdul Hakeem (Strategic focus)
    Maisarah Islamic Banking Services focuses on providing the best Islamic banking services that can cater to the investment and financing needs of individuals, corporates, and government institutions. To maintain its standing as the best Islamic Banking service provider, Maisarah is continuously focused on developing new products that can serve financial needs of our customers in the best possible manner in addition to adopting best practices and ensuring segregation in a Sharia compliant manner have been part of the foundation of building robust products and services.
    In 2013, within months of commencing operations, Maisarah Islamic Banking Services of BankDhofar has won global recognition, as it was named Best Islamic Window for 2013 in Oman by the Global Financial Market Awards (GFM).
    Taameer Investment (S.A.O.C.) is one of Oman’s leading investment companies with various investments in real estate, industrial, financial and service sectors. Taameer Investment was established in 2006 and since then the company has grown progressively to be one of the leading investment companies in Oman with effective contribution towards the national economic growth due to the assistance of specialized working team and a group of experts.Maisarah Islamic Services strikes a deal to finance The Wave Plaza Hotel in the Wave – Muscat

    Maisarah Islamic Banking Services launches property finance

    Maisarah Islamic Banking Services, the Islamic Window of Bank Dhofar continues to expand its customer reach in the area of pioneering Sharia compliant products. The Islamic banking window’s most recent launch is its retail property finance service developed under the diminishing Musharakah structure. Customers can now benefit from flexible finance options that can be directed to purchase of land, developments under construction, finished properties, renovation & refurbishment where financing can be provided for up to 80% of the property’s value. Maisarah’s property finance product helps customers to easily switch to an Islamic financing option with a fast approval process and simple documentation and a long and flexible repayment period of up to 25years in addition to low monthly instalments.
    Chief Islamic Banking Officer of Maisarah Sohail Niazi commented on the occasion, “The launch of Maisarah’s property finance will now give customers a safe, reliable and Sharia compliant option to acquire properties, whether it be for personal or investment purposes. The new product is available at all Maisarah branches to give customers easy access and cut down on processing times.”
    Mujatabah Ali Dawood, Senior Manager Retail of Maisarah, further pointed out to the numerous advantages of Maisarah Property Finance, some of them being attractive pricing, applicable to all kinds of properties and financing existing properties.
    Like all Maisarah products that have the backing and knowledge expertise of dedicated customer service team, Maisarah property finance too will be introduced through constant customer engagement and professional service. “Maisarah’s customer service team is constantly on call at all branches to field queries and educate customers on every viable option available to them for the purchase of property. All our branches have experienced and well trained personnel to guide customers in choosing the best finance option,” added Mujtabah.
    Maisarah’s Sharia compliant property finance is among a spate of recent initiatives from the Islamic banking window of BankDhofar, in response to the demand from the public for innovative Islamic banking solutions. To date Maisarah has introduced a host of Sharia compliant banking alternatives for its growing customer base, continuing to reaffirm its mission to be at the forefront and leading the Islamic banking market in Oman.

    Maisarah offers retail goods financing

    Maisarah Islamic Banking Services,the Islamic Window of BankDhofar has announced the launch of its Sharia compliant retail goods financing option for customers. The product joins a spate of other innovative solutions that wererolled out in the recent past to provide financial solutions to a growing base of retail and corporate customers.

    Under the new financing scheme, Maisarah will offer Goods Murabaha to all its retail customers, helping to cater to their personal needs by providing a reliable Sharia compliant financing option. Murabaha is a particular kind of sale in which the seller discloses his cost to the buyer and adds an agreed amount of profit to determine the selling price.

    Sohail Niazi, Chief Islamic Banking Officer at Maisarah stated, “We have developed Goods Finance after careful planning and thorough research in order to diversify our portfolio and cater to all our customers’needs. Like all our products and services, Goods Finance too is the result of Maisarah’s efforts at offering innovative financing and banking solutions to customers.”

    He added that Maisarah Islamic banking window has developed the product to offer customersand clients a financing option as an Islamic banking alternative to personal finance for purchase of goods with flexible payment options. Customers can avail the service from any of the Maisarah branches in Oman. The financing scheme covers purchase of goods which may include electronics, furniture and any other consumer products.

    Jamsheed Hamza, Head of Retail Banking at Maisarah emphasised the numerous advantages of Maisarah’s Goods Murabaha, foremost of which is Sharia compliance, easy and fast processing, flexible payment option and covering a wide range of products to meet customers’ needs. The speed of the process is further enhanced by having strategic tie ups with major retailers in Oman. Maisarah also has in place a very well defined process to list the vendors which enables the customer to buy from their favorite shops with ease.

    Maisarah inks partnership with Al Madina Takaful

    Maisarah Islamic Banking Services, the Islamic Window of BankDhofar continues to take the lead in providing customers with Sharia compliant financial solutions and services. Its latest offering is the result of a recent tie-up with Al Madina Takaful to organise Takaful coverage for its valued customers. Present at the signing ceremony were Abdul Hakeem Omar Al Ojaili, Acting CEO, BankDhofar, Sohail Niazi, Chief Islamic Banking Officer, Maisarah, Jamsheed Hamza, Head of Retail Banking, Maisarah and Mr Saleh Nasser Al Riyami, Director of Al Madina Takaful and CEO of Al Madina Takaful Mr. GautamDatta along with other representatives from both companies.

    Commenting on the occasion, Acting CEO of BankDhofar, Abdul Hakeem Omar Al Ojailisaid, “Our newly forged partnership with Al Madina Takaful is bound to increase options for financial assistance and protection that are Sharia compliant and offer alternatives to conventional insurance. We have taken the opportunity to expand our Sharia compliant product offerings and will work closely with our partners to ensure satisfaction of our customers.”

    Sohail Niazi, Chief Islamic Banking Officer of Maisarah added, “We are proud to be in partnership with Al Madina Takaful to provide protectionsolutions to our customers under theTakaful model. This is in line with our commitment to provide a range of best financial solutions toour customers.”

    Under the agreement, Al Madina Takaful will be offering Motor Takaful, Credit Life Takaful, Property Takaful & Contractor All Risk Takaful to Maisarah customers. The tie up makes Maisarah one of the first few banks to provide a fully Sharia compliant coverage to customers with these banking products. Maisarah will be working closely with Al Madina Takaful, the first Takaful provider in the market to come out with innovative Sharia compliant products that exceed customer expectation.

    Al Madina Takaful is the first Islamic Takaful provider in Oman. It is the new trade name and brand of Al Madina Insurance Company, following the latter’s conversion to Sharia compliant insurance. As Oman’s first providers of Takaful, the company offers a range of market-leading products and services to help individuals and businesses.

    “We are proud to sign this partnership with Maisarah Islamic Banking Services, one of the pioneers in Islamic Banking in the country. Al Madina Takaful being the first Takaful provider in the country will work closely with the Bank to provide best of class Takaful products and services to our mutual customers. We will also partner together in spreading awareness in the community on the principles and values of Sharia compliant financial services in Oman”, said Saleh Nasser Al Riyami, Director of Al Madina Takaful.

    Maisarah is one of the first few Islamic banking windows to tie up with the Al Madina Takaful in Oman to provide a completely sharia compliant finance and insurance solution for customers. With Maisarah’s assistance customers will be able to get their material assets and life completely covered under a Takaful product. The partnership is governed by three main principles – Sharia compliance; offering fast and easy processing; and providing Takaful coverage for life, property, construction and automobiles.

    /

    Maisarah Islamic Banking ServicesPartners with Ethica for Islamic Finance Training and Certification

    Maisarah Islamic Banking Services has partnered with the Dubai-based institute to train its Islamic banking team. The bank’s employees enroll in Ethica’s online Certified Islamic Finance Executive (CIFE) program, the same certificate held by professionals in 62 countries and over 100 financial institutions. Ethica’s program is also available with in-class training for banks that want a blended experience.

    Sohail Niazi, Chief Islamic Banking Officer at Maisarah, said, “This partnership with Ethicais part of our commitment to on-going training and professional development of our team members. We believe knowledgeable team plays a major role in giving customers the proper guidance. This role becomes even more important when the products and services are new to the market.”

    Maisarah invests considerable resources on training and is believes in providing best training to its team membersto ensure highest quality of service to its customers. This focus on training and service quality is also a major focus of the Central Bank of Oman, which has been applauded for its prudent and supportive approach to Islamic finance.

    Jamsheed Hamza, Head of Retail at Maisarah, added, “Through our partnership with Ethica, the leader in Islamic banking training and certification, our staff will receive the training and knowledge to serve our customers and fulfil their financial needs. At Maisarah highest quality of service is our priority.”

    “Islamic banks get only one chance to make a first impression. And usually this impression is made by the staff interacting with the customers directly. In order for Islamic banking to succeed, employees must be highly conversant in Islamic finance: to ensure their bank is Shariah-compliant and to ensure their customers are well informed. This partnership is a testament to the importance that Maisarah places on compliance and customer service,” said Ethica’s spokesperson.

    Ethica’s Certified Islamic Finance Executive (CIFE) program is designed to take those new to Islamic finance to an advanced level of practical knowledge in 4 months or less. In Oman, Ethica’s exclusive partner is Excel Institute for Administrative Training, and globally Ethica’s clients include several global banking giants, most notably Mashreq Bank in Dubai, where 1,000 bankers were trained.

    Maisarah Islamic Banking Services, the best Islamic Window as ranked by GFM for 2013, is a learning organization. Culturally, Maisarah has its team members trained every week through their regular training programs. In addition, every branch continues to enrich his team members through a similar arrangement at the branches. As far as the customer is concerned, the right Islamic product needs to be delivered with the passing on of the information. Unless the benefits, structure as well as process is explained to the customers, they will be not completely understand the Islamic banking product.

    Maisarah is also planning to take its learning culture to its customers – both retail and corporate. More awareness programs are being planned to enrich the customer with islamic banking product knowledge. Creating awareness is also one of the major requirement for the people of the Sultanate to better understand islamic banking and benefit from the offering.

    BankDhofar Conducts Annual General Meeting

    BankDhofar shareholders gathered for the Bank’s Annual General Meeting on 20th of March 2014 at Muscat Intercontinental Hotel,presided by Eng. Abdul Hafidh Salim Rajab Al Aujaili, Chairman of the Board.The Annual General Meeting approved the financial statements and reports for the financial year ended December 31, 2013. The Bank continued to grow in all key areas in the year 2013; the net Loans and Advances extended to customers achieved a growth of 13.7% from RO 1.67 billion at the end of 2012 to reach RO 1.90 billion at the end of December 2013. Further, the customer deposits mobilized by the bank achieved a growth of 24.5% from RO 1.63 billion at the end of 2012 to reach RO 2.03 billion at the end of 2013.

    The net profit for the year 2013 achieved by the Bank is RO 58.41 million as against RO 37.74 million in the year 2012, including the effect of Legal case write back of RO 26.1 million (before taxes), in 2013.

    ‘Maisarah’ Islamic Banking Services achieved Total assets of nearly OMR 50 million, including net financing of OMR 27.9 million by the end of year 2013.

    The Board of Directors recommended a cash dividend of 14% (14 baisas per share) for the financial year ended 31st December 2013 and a Bonus share issue of 11% and the same was approved by the AGM.

    As part of the Banks’ CSR initiatives, the shareholders approved a proposal to allocate RO 120,000 for supporting the local community for the year 2014.

    Further, the Bank is proud to note the following awards won during the year 2013

    • The Best Retail Bank in Oman – Global Finance Market Review
    • The Best Retail Bank in Oman – the Global Banking & Finance review Awards
    • 2nd Prize – Best banks in Oman – Business Today magazine
    • The Best Islamic Banking Window for 2013 in Oman – the Global Financial Market Awards
    • Omanisation Award – Ministry of Manpower
    • 1st Prize Corporate Governance Excellence Award – Capital Market Authority
    • Oman Economic Review ‘Top 20 – Best Performing companies’ listed in Muscat Securities Market (MSM)
    • Platinum award – Middle East region for Bank’s Business Process Management system (BPM) an initiative by NewGen Worldwide
    • Silver award in the Banking and Financial sector for best internet banking portal, at the 7th Oman Web Awards
    • Straight-through-processing (STP) of Euro payments and financial transactions – Commerzbank, Germany.

    In his closing remarks, Eng. Abdul Hafidh Salim Rajab Al Aujaili, Chairman, BankDhofar, addressed the meeting to thank BankDhofar customers, shareholders and staff for their continued support and trust in the Bank. He also praised the Central Bank of Oman and Capital Market Authority for their guidance in raising the standards of the Banking sector in Oman.

    Finally, on behalf of the Board of Directors, employees and the management, the Chairman expressed sincere most gratitude to His Majesty Sultan Qaboos Bin Said for his wise leadership and generous support to the private sector.

     

    Ali Al Habsi named Maisarah Islamic Banking’s Brand AmbassadorMaisarah_PR_Images0303

    Maisarah Islamic Banking Services recently announced Ali Al Habsi, Oman’s legendary footballer, as their brand ambassador at a press conference held at the Crown Plaza Muscat in the presence of Ali Al Habsi, Abdul Hakeem Al Ojaili, Acting CEO of BankDhofar and Sohail Niazi, Chief Islamic Banking Officer (CIBO) of Maisarah in addition to Board Members and members of Maisarah management team Commenting on Ali Al Habsi’s determined efforts toward raising the Omani flag at numerous international forums, Abdel Hakeem Al Ojaili said “As Omanis, we are all extremely proud of Ali Al Habsi as he truly has painted a bright picture of Oman and the Omani people, and is considered the ideal spokesperson and ambassador of Omani heritage, traditions and history. It is an honour to have Ali representing Maisarah’s identity as in addition to delivering superior customer service and competitive products, Maisarah’s values are entrenched in transparency, integrity and honesty so it was a natural choice to bring on Ali to represent our corporate identity.”

    “Islamic banking services are a remarkable and unique addition to the national economy which will undoubtedly become one of the most important pillars of our economy in the coming years. I am happy and honoured by the trust that Maisarah Islamic Banking has placed in me by choosing me as the ambassador of their corporate identity, a role I plan to execute with vigor,” said Ali Al Habsi.

    At the press conference important topics were discussed such as the way in which to increase awareness and raise the profile of Islamic Banking Services and products in Oman. Commenting on the matter was Sohail Niazi, CIBO of Maisarah “There is still a gap in knowledge and information about Islamic Banking in the market, where customers and even decision makers within businesses experience a lack of clarity around Islamic Banking Services and their products. We at Maisarah are committed to increase the awareness and educating our customers and prospective customers of Islamic banking services and products available to them.. This partnership with the highly regarded Ali Al Habsi will help us reach a larger segment of society at large and increase our outreach, especially in the youth segment of Omani demographics.”

    “Maisarah as a part of its strategy is focused on providing the best Islamic banking services that can cater to the investment and financing needs of individuals, corporates, and government institutions. To maintain our standing as the best Islamic Banking service provider we are continuously focused on developing new products that can serve financial needs of our customers in the best possible manner. Adopting best practices and ensuring segregation in a Sharia compliant manner have been part of the foundation of building robust products and services, that are in line with customer’s needs in the Sultanate. Under the guidance of the Sharia Supervisory Board, Maisarah’s exclusive banking solutions are on display at their standalone branches, which have been designed to minimize wait time and enhance each customers’ experience. We work to strengthen our resources and differentiate ourselves as a proactive Islamic Banking window for our clients and companies alike. The Products we offer are compliant with Sharia principles and designed to meet our customers’ expectations and help them achieve their business aspirations as well,” added Sohail Niazi.

    BankDhofar opens Maisarah Islamic banking services branch in Salalah

    BankDhofar has announced the opening of a ‘Maisarah’ Islamic banking services branch at Al
    Wadi, in Salalah, oering retail, corporate banking and priority banking services.
    According to a press release, Maisarah is the first standalone Islamic banking branch to open
    in Salalah.

    The inauguration ceremony was held at the Hilton Salalah Hotel and patronised by Sayyid
    Mohammed al Busaidi, Minister of State and Governor of Dhofar, Eng Abdul Hafidh al Aujaili,
    chairman of BankDhofar, and Sheikh Dr Salim al Dhahab, chairman of Sharia Supervisory
    Board, as well as a number of clients and senior ocials from BankDhofar and Maisarah.
    Speaking on the occasion, Tony Mahoney, CEO of BankDhofar, said, “We are extremely
    happy to be launching our Islamic window in Salalah. With the team in place, products are
    being rolled out and state-of-the-art of technology and infrastructure in place to ensure a
    high quality of service.”

    Maisarah, with its dedicated product development unit, is introducing the best products for
    customers and continuing to work on an extensive product range. Maisarah already provides
    a saving and current accounts, fixed deposits, auto and home finance to its customers. The
    accounts can be opened in a very short time and customers are attended to without delay.