Muscat: Alizz Islamic Bank continues to enhance the lives of the bank’s customers by providing them with the ability to save their money and receive expected cash profits on their savings with the shari’a compliant ‘Bushra’ savings account.
Currently, Alizz Islamic Bank offers Bushra Savings Account based on the Shari’a principle of unrestricted ‘Mudarabah’, where the customer is the owner of the money, and the bank manages the ‘Mudarabah’ by investing the pool of customer funds in joint ‘Mudarabah’ transactions. All profits are divided between the customer and the bank, based on a profit-sharing ratio determined by the bank. Profit rates based on each category will be applied to the deposit balances kept in the Bushra Account with profits of up to 3.5% according to the amount deposited in the Bushra savings account. Based on each customer’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 walking into their nearest bank branch across Oman.
For 2022, Bushra has been restructured to keep up with the changes in customer lifestyles, making the account bigger to secure the best possible profits for the customer. Alizz Islamic Bank continues to tailor-make products and services to suit the expectations and requirements of customers.
Bushra customers, whether Omanis or expats, will enjoy many advantages and benefits including monthly profit payment, same-day debit card issuance and collection, and 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 on paying 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 achieved through the deposits they keep in their Bushra account. Bushra has witnessed high demand because it is in accordance with the provisions and principles of Islamic Sharia and is a tier based saving account with the goal of encouraging the habit of saving in a way that achieves the customers’ needs with the maximum amount of satisfaction.”
