Maisarah introduces contract financing for corporate sector

Muscat: With its continued dedication and focus to enrich service 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 Sharia-compliant products and services.
Fawaz Al Ojaili, senior executive manager and 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 Sharia-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 include 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.