In line with its ongoing commitment to providing innovative financing solutions for its customers and strengthening strategic partnerships with real estate developers, Bank Nizwa, the most trusted Islamic bank in the Sultanate of Oman, has signed a strategic Cooperation Agreement with Rikaz Developments, one of the nation’s leading real estate developers. The agreement is designed to deliver exclusive benefits to Bank Nizwa customers interested in purchasing selected premium residential properties, complemented by the bank’s flexible Sharia-compliant home financing solutions. The agreement was signed by Mr. Mohamed Al Ghassani, Deputy General Manager – Chief Retail Officer at Bank Nizwa, and Mr. Saleh Al Ruzieqi, Co-Founder of Rikaz Developments.
Under the agreement, eligible Bank Nizwa customers purchasing selected units across Rikaz Developments’ projects will benefit from a range of exclusive privileges, including an OMR 1,500 discount on selected properties, a one-year service fee waiver, priority access to selected projects, and personalized property advisory services from a dedicated Rikaz property consultant, helping customers identify housing solutions that best suit their needs and aspirations. Customers will also enjoy comprehensive support throughout the home financing journey, including expedited reservation and documentation processes to ensure a seamless homeownership experience. The collaboration underscores the shared commitment of Bank Nizwa and Rikaz Developments to making homeownership more accessible while delivering greater value through integrated Sharia-compliant home financing and premium real estate solutions.
Commenting on the collaboration, Mr. Mohamed Al Ghassani, stated, “At Bank Nizwa, we believe in building strategic partnerships that create meaningful value for our customers while supporting their evolving lifestyle aspirations. Our collaboration with Rikaz Developments reflects this commitment by bringing together premium residential opportunities with our Sharia-compliant home financing solutions, distinguished by attractive profit rates and flexible terms. Through this partnership, we aim to empower aspiring homeowners to make confident decisions as they invest in homes that best meet their needs and long-term ambitions.”
The partnership covers selected premium units across several of Rikaz Developments' flagship projects, including Novella, Lama, and Juman, subject to availability. The initiative is designed to provide customers with greater flexibility and added value when purchasing high-quality residential properties.
As Bank Nizwa continues to broaden its portfolio of strategic partnerships, it remains focused on delivering customer-centric Islamic banking solutions that enrich lives and create lasting value. This partnership further strengthens the bank’s commitment to supporting the Sultanate's housing sector and delivering innovative Islamic banking solutions that meet the evolving needs of individuals and families, contributing to their long-term prosperity and financial well-being.
