Muzn holds Q2 Sharia Supervisory Board meeting to discuss upcoming plans

Muscat: Continuing to provide its customers with the latest Sharia-compliant solutions, Muzn, National Bank of Oman’s (NBO) Islamic banking window, recently held its Sharia Board Meeting.

Sheikh Dr Muhammad Zubair Usmani, Chairman – Sharia Board, was joined by board members, His Highness Sayyid Dr Adham bin Turki Al Said, Sheikh Dr Abdul Rahman Abdullah Al Saadi, and Sheikh Saleh Al Kharusi, to discuss the bank’s products, which include the approval of term based Wakala Bil Istithmar mode, reserves creation in the Wakala product, and the approval of the Internal Sharia Audit Plan.

Salima Al Marzouqi, Chief Islamic Banking Officer, said, “We are committed to fostering the development of the country’s growing Islamic finance sector. Shari’a compliance is at the heart of what we do and through ongoing collaborations with our learned Shari’a board members, we are creating new possibilities for our customers while ensuring their banking experience is not only seamless but is in keeping with their values. We have a lot planned in the upcoming months as we continue to adapt to new technologies and meet the evolving needs of our customers.”