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Bank Nizwa offers attractive auto loan

by Times News Service
February 09, 2013 , 8 : 06 pm

The auto finance product promises customers speedy processing time and simple documentation procedures. Supplied picture

Muscat: Bank Nizwa, Oman's first dedicated Islamic bank, launched its progressive Islamic auto finance product through which customers enjoy a new experience of banking.
The new product facilitates the purchase of a car of choice, and the customer pays instalments on deferred payment basis, said a press release. Bank Nizwa's auto finance is based on the Islamic principles of Murabaha.

With extremely competitive profit rates on both new and used cars, the auto finance product promises customers speedy processing time and simple documentation procedures to ensure that taking to the roads is as stress free as possible.

To avail this facility, salary transfer is not mandatory. Bank Nizwa is the first bank in the Sultanate to offer auto finance on post dated cheques and the processing fees is waived for limited time period.

Speaking on the auto finance product, Tariq Al Farsi, general manager, Retail and Private Banking, Bank Nizwa said: "Our customers are showing excitement and enthusiasm for our Sharia compliant products and services. At Bank Nizwa, we work hard to ensure that our customers enjoy modern finance solutions which always adhere to Islamic Sharia principles with great customer experience.

Our auto finance product offers our customers the opportunity to choose a car to suit their lifestyles, and we at Bank Nizwa endeavour to exceed their expectations."

Auto finance is just one of the products in Bank Nizwa retail finance suite.
With plans to expand services into other areas including home finance, the bank is continuing to exceed expectations, providing

its customers with convenient, innovative and a wide range of banking services to meet their needs.

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