Muscat, Alizz Islamic Bank today signed an
MoU with Al Raffd Fund in the field of financing small and medium
The memorandum was signed by Yasir Sameer Ismail al-
Azzawi, Head of SME Banking – Wholesale Banking Group, on behalf
of Alizz Islamic Bank, and was signed by Amira bint Ahmed al-Zedjali,
Director General for Development and Planning, on behalf of the Fund.
The ceremony was held at Al Raffd Fund’s Head Office in the
presence of other senior executives from both institutions.
As per the agreement, Alizz Islamic Bank will provide facilities
and benefits to entrepreneurs nominated by Al Raffd Fund to obtain
financing according to the terms and conditions stipulated by the Bank.
The nominated entrepreneurs of Al Raffd Fund will benefit from the
services provided by Alizz Islamic Bank in the event that the amount
exceeds the funding limit of the financing ceiling of the fund’s financing
Alizz Islamic Bank offers Shari’a-compliant banking solutions
using Islamic contracts such as Ijarah, forward Ijarah, Murabaha,
Diminishing Musharaka, Kafalah, Wakalah, Qard Hassan and
Speaking on the occasion, Amira bint Ahmed al-Zedjali, Director
General for Development and Planning of Al Raffd Fund said This
MoU is part of the overall vision of the fund to support entrepreneurs
and establish a healthy working environment for SMEs with both
Government entities and the private sector. Al Raffd Fund believes in
providing finance facilities with easy repayment structures for SMEs
and plays important roles in assisting these SMEs find alternative
sources of financing that meet their business requirements as per the
size of their project.
Commenting on the MoU, Yasir Sameer al-Azzawi, Head of SME
Banking of Alizz Islamic Bank said, At Alizz Islamic Bank, we
understand the challenges of operating a business in the current
economic environment and Alizz Islamic Bank’s SME banking services
is dedicated to empowering entrepreneurs to achieve their goals in
building successful and competitive companies.
Al-Azzawi added, Our SME banking solutions assist local
entrepreneurs and SMEs achieve their business goals through an array
of innovative Shari’a-compliant solutions developed by our team of
experts. Our solutions are designed to meet the needs of each
business through a variety of modern and digital banking channels that
enable entrepreneurs make many transactions with ease.
Source: Oman News Agency