Bank Nizwa has partnered with Oman Housing Bank (OHB) to expedite the approval of housing finance applications with OHB and the Ministry of Housing and Urban Planning.
Bank Nizwa is among four distinguished banks enlisted as finance partners to provide applicants with government-subsidized housing financing at competitive profit rates under OHB’s Iskan programme.
The project is strengthened by the cutting-edge Iskan electronic platform, which allows applicants to conveniently submit documentation digitally, providing a time-saving avenue to initiate their home financing journey.
The platform, operational 24/7 and accessible on the go, allows applicants to effortlessly select their preferred financier, including Bank Nizwa.
“In alignment with the urban planning and community upliftment goals outlined in Oman Vision 2040, we remain resolute in providing fully Sharia-compliant services that empower citizens to confidently embark on their homeownership journeys,” said Khaled Al Kayed, CEO of Bank Nizwa.
As part of the Iskan programme, eligible applicants can avail of housing finance for the purchase of ready-built residences, completion of unfinished houses, building a residence on land owned by the borrower and buying residential land.
The process involves online document submission, selection of the preferred banking partner, due diligence conducted by the bank, and the presentation of a conditional offer to the applicant.
Bank Nizwa’s home finance solutions are in full compliance with Islamic banking principles. The bank’s commitment to offering favourable profit rates, flexible tenures and exceptional service quality, underscores its dedication to making homeownership a reality for a broader segment of the population.
