Muscat: Alizz Islamic Bank continues to improve the lives of bank customers by providing them with the opportunity to save their money and receive the expected cash benefits on their savings with the Shariah Compliant “Bushra” Savings Account.
Currently, Alizz Islamic Bank offers a Bushra savings account based on the Shari’ah principle of unrestricted ‘Mudarabah’, where the customer owns the money, and the bank manages the ‘Mudarabah’ by investing the pool of customer funds in joint actions. Mudarabah transactions. All profits are split between the client and the bank, based on a profit sharing ratio determined by the bank. Profit rates based on each category will be applied to deposit balances held in the Bushra account with profits of up to 3.5% depending on the amount deposited in the Bushra savings account. Based on each client’s account balance, the bank will deposit their profit shares on a monthly basis. Customers can get more details on profit rates by visiting the bank’s official website at (https://alizzislamic.com) or visiting the nearest bank branch in Oman.
For 2022, Bushra has been restructured to keep pace with changing client lifestyles, expanding the account to ensure the best possible benefits for the client. Alizz Islamic Bank continues to design tailor-made products and services to meet customer expectations and requirements.
Bushra customers, whether Omani or expatriate, will enjoy a host of perks and benefits, including monthly profit payment, same-day debit card issuance and collection, free online and mobile banking, and SMS alerts, to name a few.
Mohammed Al Ghassani, Chief Consumer Banking Officer at Alizz Islamic Bank, said: “We are always keen to pay attention to what customers want in terms of products and services, and at the forefront of our priorities is to provide them with all credibility and transparency. . They can be reached through the deposits they keep in their Bushra account. Bushra has seen high demand as it complies with the provisions and principles of Islamic Shariah and is a tiered savings account with the aim of encouraging the habit of saving in a way that meets the needs of customers with maximum satisfaction. ”