National Bank of Oman Muzn Islamic Banking has announced the launch of its ground-breaking product, Term Wakala Finance, an alternative to bill discounting. This Sharia-compliant financial solution offers customers a convenient and hassle-free way to settle their financial obligations across various sectors, providing a sense of relief and ease. This pioneering product marks a significant advancement in Islamic banking, highlighting Muzn’s dedication to providing innovative financial solutions.
Salima Al Marzooqi, Chief Islamic Banking Officer at Muzn, said: “The Term Wakala Finance an alternative for bill discounting offers our customers a unique combination of convenience and compliance with Sharia principles. By choosing this product, customers can efficiently manage their financial obligations across various sectors, ensuring smooth transactions with both local and international merchants. This solution, which is available to all Muzn customers now, not only simplifies bill settlement processes but also aligns with our commitment to ethical and transparent banking practices. With this launch, Muzn continues to lead the way in Islamic banking innovation, providing tools that enable our clients to manage their financial responsibilities with ease and confidence.”
Muzn’s Term Wakala Finance an alternative for bill discounting, which is based on the concept of Wakala bil Istithmar, offers customers an efficient bill discounting module, allowing them to effortlessly settle their dues across a variety of sectors. Whether dealing with local and international merchants, managing export bills, or handling contractor payments, this new product ensures that customers can efficiently manage their financial commitments.
For more information about the Term Wakala Finance an alternative for bill discounting and other Muzn Islamic banking products, please visit www.muzn.om, contact our customer service at 24770001, or use the user-friendly NBO Muzn Islamic Banking App.
