As the Sultanate of Oman's foremost and most trusted Islamic bank, Bank Nizwa has consistently prioritized the well-being and advancement of the community through its innovative banking solutions. In line with this mission, Bank Nizwa offers an enticing Education Finance program aimed at helping individuals achieve their educational aspirations. This program operates in accordance with Islamic principles, specifically Murabaha and Ijarah (service Ijara), and presents attractive profit rates, flexible payment options, and a convenient repayment period for all eligible applicants.
The Education Finance initiative primarily targets young people in the Sultanate who aspire to pursue higher education degrees. Bank Nizwa acknowledges the potential of Oman's youth and their pivotal role in the country's future economic and social development. To this end, the bank has tailored this offering for high school graduates, allowing them to apply jointly with their parents or guardians. During the course period, the parent or guardian is only required to pay the profit amount and additionally benefits from a one-year grace period after the course completion for repaying the full amount.
Encouraging aspiring young individuals to take advantage of the Education Finance program, Mrs. Ikhlas Al Lawati, Senior Head of Services Quality, Phone Banking, and In Charge of Product Development at Bank Nizwa, stated, 'At Bank Nizwa, we believe that the youth represent Oman's future, and it is our responsibility to empower them with knowledge, skills, and expertise to prepare them for the challenges of the workforce. We urge students and dreamers to make use of our attractive, fully Sharia-compliant Education Finance program to fulfill their educational aspirations. Through this initiative, we aim to make higher education accessible to all.'
In alignment with Oman Vision 2040's emphasis on the education sector, Bank Nizwa's Education Finance program also assists parents and guardians in financing their children's school fees. Although this option does not offer a grace period, enrollees are required to make immediate installment payments over a longer time frame at a competitive rate.
Salaried individuals seeking to enhance their skills through further education can also benefit from Bank Nizwa's Education Finance program. While there is no joint financing or grace period for working individuals, the program enables them to cover the entire course fees and provides a flexible installment plan.
The Education Finance offering underscores Bank Nizwa's commitment to the progress and empowerment of its customers, reaffirming its position as Oman's leading Islamic bank offering a comprehensive range of Islamic banking solutions. As the Sultanate's pioneer in Sharia-compliant Education Finance, this program offers youth, students, and working individuals the opportunity to enhance their academic qualifications and skills to thrive in successful careers.
Bank Nizwa's extensive branch network is strategically located near prominent educational institutions and colleges for easy accessibility. Through its innovative products, exceptional e-banking services, widespread branch network, and exceptional customer service, Bank Nizwa continues to solidify its position as the premier Islamic banking institution in the country, dedicated to setting new standards in Oman's financial industry