Alizz Islamic Bank empowers women with its new female banking segment 'Hiyya'

Roundup Tuesday 26/October/2021 17:28 PM
By: Times News Service
Alizz Islamic Bank empowers women with its new female banking segment 'Hiyya'

Muscat: Upholding the bank’s tradition of observing the Omani Women’s Day with symbols of appreciation and empowerment, a ceremony was held at Shangrila Bar Al Jissah Resort under the auspices of Asila Al Samsami, Undersecretary of the Ministry of Commerce & Industry and Investment Promotion for Investment Promotion and in the presence of the CEO of Alizz Islamic Bank, Sulaiman Al Hatrthi. 

During the ceremony Alizz Islamic Bank announced the launch of an exciting new female banking segment called ‘Hiyya’, featuring a bouquet of banking products and services that are designed exclusively for women.

Celebrated annually on October 17, Omani Women’s Day, this year, will mark a new chapter in the history of Alizz Islamic Bank, as ‘Hiyya’ is crafted to meet all the investment, health and financial needs of female customers; it will provide customers with a tier based savings account to enhance their profits.

The Sharia compliant account is based on the principle that the customer is the ‘rab-al-mal’ (investor) and the bank is the ‘mudarib’ (investment manager), wherein the bank invests the funds within a common investment pool, including other partner accounts.

As per the arrangement, profits will be shared between customers and the bank according to the previously agreed distribution ratios. In addition to that, instant debit cards will offer exclusive benefits, as the main intent is to ensure an open platform for women to enjoy a host of discounts and special offers at spas, beauty salons and beauty products, while availing deals from health clubs, fitness centers and perfume stores. Exclusive stores and branded outlets for clothing and accessories, home décor, restaurants and flower shops are all pegged onto the account, which also includes priority express service at all Alizz Islamic Bank branches.

What is more, women who opt for the Hiyya account will get free Takaful insurance services -this is designed specifically for women, as it covers some of the most common cancers that affect women, such as breast cancer, ovarian cancer, fallopian tube cancer, uterine cancer and other types of cancer. It will also include insurance cover to obtain a second medical opinion.
 Additionally, it will also cover insurance on hand luggage and travel, the Takaful insurance provision also assures compensation for the loss of hand luggage while traveling anywhere in the world). It will also provide compensation for the loss of personal documents or keys on account of the loss of handbag; the onus will be on the insurance company to reimburse the customer for the expense incurred in obtaining new personal documents/keys.

The only condition for availing the Takaful insurance scheme, which has some of the best offers to meet all health needs of women and add value to their lifestyles, is that the woman must not be less than 18 years old and not more than 65 years old, and that she be of Omani nationality or have a valid Omani residency visa.


During the Launch Alizz Islamic Bank also announced the winners of the ‘Hiyya’ awards for women. The awards were classified into several categories. The award for the Best New Female Owned Business went to Natasha Events, owned by, Natasha Al Wahaibi, and this award is given to the best new business owned by a woman, while the Most Inspirational Business Woman award went to Sayyida Asila Al Said the owner and founder of Party Fever Oman, a comprehensive company that provides event management and party planning and has become an essential part of society. As for the Made in Oman award for the best female owned business that manufactures and produces goods locally, it went to Lama Al Kharusi, the founder of Lama Sweet Company which is the first Omani homemade ice cream company in Oman and run by 10 wear old entrepreneur Lama Al Kharusi. The Best Customer Service Award for the Best Customer Service in a female owned Business was awarded to Bodouir Boutique by Taqwa Al Lawati.

The Social Responsibility Champion of the year Award for Women who give back to Society through Social Responsibility Programs went to Nada Al-Moosa, who devotes much of her time, effort and money to raising awareness and drawing attention to the issue of animal welfare. The award for Best Online Business was awarded to Mazoon Al Jabri for her Graphic Design business @designbymaz that has set an example in the success of startups in Oman and has boosted the quality of graphic design work in Oman.

Finally, the award for the role model of the year for the woman who sets an example for leadership and success was awarded to Asma Al Hajry who used to run a business that was only 12 square metres, with her diligence and perseverance today the shop has an area of ​​4,000 square metres.

Commenting on the launch of the Hiyya Female Banking Segemnet, Mohammed Al Ghassani, AGM - Chief Consumer Banking officer at Alizz Islamic Bank, said: “Our vision is crystallized in ensuring the prosperity of Omani women without compromising our Islamic values. And, as we have proven previously, we do not make a product without putting in it maximum benefits for the customer, and this is what our Hiyya Female banking segment promises to dp: meet our female customers’ needs and aspirations.”

Explaining further, Al Ghassani noted that the segment would meet all the banking needs of women. “The scope of Hiyya is to ensure that it is inspirational and touches the hearts of all women customers with its inbuilt offers of discounts and facilities. We have a clear understanding of women’s banking needs and services, and thus we have resolved to make seventeenth of October a special day for Omani women through the launch of Hiyya,”