Saturday 21 / December / 2024
Muscat: Reinforcing its position as Oman's most dynamic and innovative Islamic banking institution, Alizz Islamic Bank recently signed a memorandum of understanding (MoU) with the General Federation of Oman Trade Unions (GFOTU) to provide bank benefits and facilities to the union and its affiliates.
Saleh Mubarak Al Khaduri, Head of Government Banking and Institutional Sales, Alizz Islamic Bank, signed the agreement on behalf of the bank and Nabhan Al Battashi, chairman of GFOTU, signed on behalf of the federation.
The signing of this agreement comes within the framework of Alizz Islamic Bank’s strategy, represented by its Government Relations Department, to expand the range of banking services offered to various governmental and semi-governmental institutions in the Sultanate. The Government Relations Department has successfully brought in several deposits to the bank.
Commenting on the agreement, Al Khaduri said, “We are pleased to have signed this MoU with GFOTU. The agreement reflects the eagerness of the two parties to strengthen mutual relations. Both the Bank and GFOTU’s members will benefit from the signing. God willing, this will be the start of a strong and healthy business relationship.”
Al Khaduri added, “At a later stage, we plan to negotiate the provision of benefits to workers in the private sector and the members of all trade unions. This will be done after extensive evaluation and consultation, as well as by discussing the means of financing investment projects in accordance with the laws and regulations.”
Alizz Islamic Bank aims to be one of the region’s leading banks by focusing on providing world-class Sharia compliant products and services to companies, government institutions and individuals.
A testament to the bank’s outstanding performance is that Alizz Islamic Bank recently won the "Excellence in Islamic Banking" award at the Oman Banking and Finance awards ceremony, which was organised by Oman Economic Review (OER) business magazine.
