NBO Muzn Unveils Corporate Term Wakala Finance For Corporates
(MENAFN- Mid-East) In a strategic move to empower businesses, the National bank of Oman's (NBO) Muzn Islamic Bank introduces Corporate Term Wakala Finance, a cutting-edge financial solution tailored to meet the diverse needs of the corporate sector. As businesses navigate the complexities of today's economic landscape, the demand for flexible and reliable financial tools has never been more critical. The Corporate Term Wakala Finance emerges as a beacon, offering a comprehensive solution to address a spectrum of corporate financial requirements.
Corporate Term Wakala Finance operates on the Wakala model, combining transparency and compliance with Shari'ah principles. The process involves the appointment of the bank
customer as an agent to manage the bank's investment in customer's operating business on behalf of the bank. This innovative structure provides businesses with the financial agility needed to navigate cash flow challenges, invest in strategic projects and optimise working capital. Specifically designed as a short-term working capital solution for the corporate sector, the product fulfils the need for cash requirements, purchase of raw materials, bill discounting, invoice discounting, contractor financing, and more.
Salima Al Marzooqi, Chief Islamic Banking Officer at NBO, said,“in today's dynamic business environment, Corporate Term Wakala Finance transcends conventional financing; it stands as a strategic financial tool meticulously crafted for the evolving needs of businesses. Whether manoeuvring through short-term working capital challenges or spearheading strategic investments, Corporate Term Wakala Finance is purposefully designed to elevate financial flexibility, offering robust support for the growth ambitions of our valued corporate clients. We are not merely providing a financial product; we are fostering a partnership that empowers businesses to thrive in a rapidly changing market.”
Tailored for both existing and new-to-bank customers, government entities, corporate entities and SMEs, Corporate Term Wakala Finance stands as a testament to NBO's commitment to delivering forward-thinking and Shari'ah-compliant financial solutions. This innovative product is available across all regions in the Sultanate. As businesses evolve, NBO remains steadfast in supporting their financial aspirations, solidifying its position as a trusted partner in corporate finance.
Rooted in an unwavering commitment to core principles, Muzn has continually refined the
banking experience by making it seamless and intuitive. Expanding its suite of Islamic banking services personalised to customer needs, Muzn has solidified its position as a pioneer. The
portfolio encompasses a diverse range of hassle-free Shari'ah-compliant banking products, fostering accessibility for all. For more information about the Corporate Term Wakala Finance and Muzn's complete range of products, including terms and conditions, please contact 24770001 or visit .
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