Times of Oman
Nov 30, 2015 LAST UPDATED AT 05:47 PM GMT
ahlibank set to open sixth Islamic branch
February 16, 2013 | 12:00 AM
Hamdan bin Ali bin Nasser al Hinai. Photo — Supplied picture

Muscat: ahlibank's Al Hilal Islamic Banking Services recently launched a network of five branches across the nation with the sixth branch coming soon in Salalah. The simultaneous launch of five branches has positioned the bank's Islamic banking services as a leader in the field of Islamic banking with plans set to further enhance the reach of its unmatched services and products to cover a wider geographical area.

Commenting on the launch Islamic banking services in the Sultanate, Hamdan bin Ali bin Nasser al Hinai, Chairman of the board of directors of ahlibank affirmed the importance of Al Hilal Islamic Banking Services as one of the key financial solution in the banking sector in the Sultanate, which is currently witnessing a remarkable growth and expansion. The introduction of Islamic banking will enhance competition among service providers which in turn will increase competition between the different financial entities and will reflects positively on the service provide to customers and the Omani economy in general."

"In continuation of the bank's vision of providing the best products and services to the market and as part of our constant endeavour to provide our customers with limitless banking solution, we seek to develop Islamic banking further as one of the many financial solutions provided by the bank to both individual and corporate customers." 

Commenting on the readiness of ahlibank to delve into the relatively new Islamic banking market in the Sultanate, the chairman added, "ahlibank has the essential human and physical resources that enable it to play an active role in the Islamic finance field. The opening of five branches simultaneously is a good example of our commitment to our customers. We have achieved a number of accolades as one of the leading financial institutions in the country for the last five years and that commitment and dedication will also be carried into our Islamic Banking Services."

When asked about the nature of Islamic banking, Al Hinai pointed out that the Islamic banking services are directly linked to business projects. This will add value to the efforts made to ensure the growth of the national economy and generation of considerable number of job opportunities.

"Introduction of Islamic banking will satisfy a considerable amount of requirements that were missing in the financial sector of the Sultanate; most importantly the financial institution can now fulfill the needs of the local communities in terms of having Sharia compliant products, which will cater to a virtually untouched segment of the market.

ahlibank has already invested its broad financial and banking expertise in promoting Islamic banking and building a understanding of the products and services, our aim is to be a leader in the field of Islamic banking."

Al Hilal Islamic Banking Services is a new way forward for ahlibank as it enhances its efforts to provide the financial sector with Sharia compliant banking solutions and products. The launch of five branches simultaneously on the January 29, 2013 is a good example of the efforts made by ahlibank in this regard. ahlibank seeks to get the confidence of the maximum number of customer by providing them with integrated banking services under one roof and eliminate the need of dealing with multiple institutions for their financial requirements.

Subscribe to our newsletter and be the first to know all the latest news