The Sultanates first Islamic bank, Bank Nizwa, celebrated another first recently as it signed a memorandum of understanding (MOU) with Tibiaan Properties, according to a press release.

The mutually beneficial agreement enables customers of Tibiaan Properties to avail any of Bank wide ranging property finance products which include a multitude of advantages including; speedy processing and approval times together with transparent prices and charges.

As the two organisations participated in the signing ceremony at Bank Nizwa Head Office, Tariq Al Farsi, General Manager, Retail & Private Banking, Bank Nizwa said: "With so many nuances involved in becoming a homeowner, we are delighted to be able to make it a little easier for our customers by offering quality real estate services and expertise through Tibiaan Properties.

Getting on the property ladder, be it through buying ones own home or building something entirely new can be daunting. Bank Nizwa with its Sharia compliant home finance solution offers our customers support and guidance through every step of the process. A home can be the most expensive asset somebody ever buys thus it is crucial to have a valid and trustworthy partner and this is what Tibiaan Properties offers."

"We are honoured to be the first real estate company to partner with the first Islamic bank in Oman, which enables Tibiaan properties to provide tailored financial solutions to customers on our projects and developments," added Fahad Al Ismaili, Executive Director, Tibiaan Properties.

"Now this relationship will enable our customers to opt for Islamic Financing Solutions."
Since launching its home finance solution, Bank Nizwa has seen an unprecedented amount of interest from customers for many solutions which it offers to suit each customer needs.

With the Bank Nizwa Property Finance solution, customers can choose from a wide range of solutions, including; purchase of land, ready to live in property, home loan buyouts, which offers customers the freedom to transfer existing home loans from their current conventional bank.

With Tibiaan Properties on the banks nominated panel of real estate agents, Bank Nizwa continues to provide extensive support and assistance ensuring its customers have access to all relevant expertise at every stage of their financial needs.