Mr. Sulaiman Al Harthi, Chief Executive Officer of Alizz Islamic Bank, expressed his appreciation for the trust of the bank’s customers and shareholders in its Shari’a-compliant banking services and products, given the impact of such trust on the bank’s success in strengthening its financial position and achieving continuous growth in its financial results and figures during Q1 of 2022. He explained that any success made by the bank is reflected in the performance of the group, Oman Arab Bank and OMINVEST, adding that the bank wouldn’t be able to achieve such success without the board’s prudent approach and support. Meanwhile, he affirmed that the bank is determined to move forward to realize sustainable results for shareholders in line with the prudent strategy developed by the board of directors, and in light of the positive indicators of economic recovery. Mr. Al Harthi thanked the bank staff for their dedication, high performance and commitment to fulfill their duties and meet customers’ expectations.
The bank proceeded to expand its services and products by targeting different segments of the society through organizing various events, marketing campaigns, symposiums and lectures across different Wilayats and Governorates of the Sultanate in order to identify the community needs in the field of Islamic banking and explain complicated issues in this sector. As a result, demand increased on the sector, its financial results became significant, and its customer base grew significantly. Alizz Islamic Bank’s customer base increased by 75% due to such efforts in line with the the bank’s commitment to support growth and prosperity of our communities.
Moreover, the bank directed its investments to existing digital platforms and entered into partnerships aiming to offer fin-tech-based solutions. It is committed to promoting the innovation culture and seeks to improve its basic capabilities. The bank is working on developing a digital business model to keep up with customers’ changing needs and technological advance, which is reflected in the bank’s ability to meet its customers’ needs and streamline transactions.
In a step reflecting such success, Capital Intelligence has affirmed Alizz Islamic Bank’s Long- and Short-Term ratings on the Oman National Scale at ‘omAA’ and ‘omA1+’, respectively with stable outlook which was improved during the year as a result of change in outlook of Oman Sovereign rating and strengthening of the bank’s financial position.
The bank is committed to providing financing offers in line with the incomes of individuals and companies; e.g. during Q1 of 2022, it launched a varied package of offers to promote customer experience in the Islamic banking sector and provide them with customized choices, such as purchasing and building the suitable house in line with the source of monthly income, in addition to exclusive offers for purchase of vehicles or funding commodity, including electronics, furniture, etc, along with various options in terms of finance periods, payment and at low rates.