Bank Nizwa recently announced the launch of a comprehensive suite of Islamic green financing solutions for home, automotive, and personal finance.
It said that Sustainable financing offers a competitive profit rate and reduced processing fees, making it an attractive option for those looking for financing solutions that “combine environmental awareness with wise financial decisions.”
Khaled Al Kayed, Chief Executive Officer at Bank Nizwa, said: “The approach we adopt towards addressing environmental challenges in the upcoming decade will significantly shape the impact we have on our planet and on the wellbeing of the future generations. In this regard, it is imperative to acknowledge the pivotal role that financial institutions play in encouraging and enabling the essential shift toward a sustainable future. As an Islamic bank deeply rooted in the principles of Sharia, inclusivity, and environmental stewardship, Bank Nizwa considers this duty a fundamental cornerstone of its operations.”
He added: “Having established a commendable presence in the country and serving a substantial customers, we understand the strong influence we exert in the economy, society and environment. Hence, it is our responsibility to steer the transition toward a low-carbon society. Our innovative green finance will not only make sustainable finance a more competitive and accessible option but also catalyse the ‘green multiplier effect,’ wherein both the economic and environmental domains thrive in harmonious synergy.”
The bank’s Personal Goods Finance will extend competitive green finance rates to individuals opting for smart or sustainable systems and those seeking financing for health and education, which it said are one of the main components for the welfare of society.
Additionally, customers exploring Auto Finance will have access to green finance rates when opting for electric or hybrid vehicles.
Bank Nizwa also shared that its Housing Finance accommodates clients who invest in smart homes constructed with sustainable materials and equipped with smart systems, making them eligible for highly competitive green finance rates.
The company said that it had pioneered the introduction of innovative financial propositions in the local market. Further, it highlighted the bank’s sustainability-linked financing solutions and eco-friendly credit and debit cards, which garnered widespread acclaim upon their launch, which it said underscored Bank Nizwa’s role in extending “purpose-driven financial offerings” to pivotal sectors within Oman.