Maisarah Islamic Banking Services, the Islamic Window of Bank Dhofar continues to expand its customer reach in the area of pioneering Sharia compliant products. The Islamic banking window’s most recent launch is its retail property finance service developed under the diminishing Musharakah structure. Customers can now benefit from flexible finance options that can be directed to purchase of land, developments under construction, finished properties, renovation & refurbishment where financing can be provided for up to 80 per cent of the property’s value. Maisarah’s property finance product helps customers to easily switch to an Islamic financing option with a fast approval process and simple documentation and a long and flexible repayment period of up to 25 years in addition to low monthly instalments. Chief Islamic Banking Officer of Maisarah Sohail Niazi commented on the occasion, “The launch of Maisarah’s property finance will now give customers a safe, reliable and Sharia compliant option to acquire properties, whether it be for personal or investment purposes. The new product is available at all Maisarah branches to give customers easy access and cut down on processing times.”
Mujatabah Ali Dawood, Senior Manager Retail of Maisarah, further pointed out to the numerous advantages of Maisarah Property Finance, some of them being attractive pricing, applicable to all kinds of properties and financing existing properties. Like all Maisarah products that have the backing and knowledge expertise of dedicated customer service team, Maisarah property finance too will be introduced through constant customer engagement and professional service. “Maisarah’s customer service team is constantly on call at all branches to field queries and educate customers on every viable option available to them for the purchase of property. All our branches have experienced and well trained personnel to guide customers in choosing the best finance option,” added Mujtabah.
Maisarah’s Sharia compliant property finance is among a spate of recent initiatives from the Islamic banking window of BankDhofar, in response to the demand from the public for innovative Islamic banking solutions.