Muscat – As part of its dedication to provide a comprehensive range of financing solutions that cater to all the needs of customers, Alizz islamic bank continues to provide education finance based on Service Ijarah Sharia’a principle as a unique programme to help students in the sultanate fulfil their higher education dreams.
Based on the Islamic financing principle ‘Service Ijarah’, education finance comes with a variety of features and benefits, offering up to RO25,000 with a 60-month settlement period. Payments will be made directly by the bank to the academic institution based on the official tuition fee schedule.
Under the ‘Service Ijarah’ principle, the bank enters into lease agreements with various service providers to sub-lease the services to its customers. Alizz has been delivering Sharia’a-compliant student financing programmes to enable students to overcome the challenge of increasing tuition fees for post-graduate courses. The bank’s programmes offer well-planned solutions in a variety of options for students in dire need of financial support.
‘Service Ijarah’ financing is open to Omani nationals as well as resident expatriates, allowing applicants to finance up to 100 per cent of service value. It also offers fast and easy approval with a simple documentation process. The facility is also available to employees who want to complete their education, provided their salary is transferred to the bank.
“Alizz is keen to deliver outstanding products that offer a range of facilities to our customers. ‘Service Ijarah’ has been designed to support all those who are keen on pursuing their higher education. This is an innovative product that stands out for its simple application process,” said Moosa al Jadidi, chief operating officer, alizz islamic bank.
Students in the country are increasingly pursuing higher education to meet the requirements of the job market. Higher education provides the skills to land lucrative positions.
Alizz islamic bank offers over 26 Sharia’a-compliant products that satisfy the needs of individuals and businesses as well as all segments of the society. Customers can visit any of the bank’s branches or call the customer service centre for more information about these products.