Is Alizz Islamic Bank fully Islamic?
Yes, Alizz Islamic Bank is a full-fledged dedicated Islamic Bank and all the offered products and services confirm with the Islamic Shari'a; supervised by the Shari'a Supervisory Board.
What is the paid up capital?
Alizz Islamic Bank's total paid up capital is 100 million Omani Rials of which 40% was raised by public investors during the Initial Public Offering (IPO) and 60% was contributed by the bank's Promoters.
What is Alizz Islamic Bank?
- Alizz Islamic Bank is one of the first dedicated Islamic banks in Oman.
- The bank aims to offer customers an enriching Islamic banking experience designed for today's modern world and has therefore focused its investments on human capital and best of breed of technology to ensure the delivery of exceptional and responsive customer service.
- Inspired by Islamic Shari'a, the bank's transparent processes and innovative products and solutions will cater to the diverse needs of both commercial and retail customers.
Who owns Alizz Islamic Bank?
Founded in 2012 in accordance to Royal Decree No. 69/2012, the Bank's total paid up capital is 100 million Omani Rials of which:
- 40% was raised by public investors during the Initial Public Offering (IPO) in September 2012.
- Alizz Islamic Bank is promoted by
- Huriah Company LLC
- aabar Investments PJS
- First Energy Oman
- Tasameem Real Estate Company LLC.
Who sits on your Shari'a Board?
We are honoured to have the following three Scholars sit on our Shari'a board.
- Dr. Mohammad Abdul Rahim Sultan Al Olama is an Associate Professor of the School of Shari'a at the United Arab Emirates University in Al Ain and an acknowledged expert in Shari'a finance.
- Sheikh Dr. Osama Mohammed Saad Bahar is a prominent, highly-respected Shari'a scholar from Bahrain. He is currently the Head of Shari'a Compliance and Advisory at First Energy Bank.
- Sheikh Nasser bin Yousif bin Sulaiman Al Azri is currently the Director of the Fatwa Department at the Ministry of Awqaf and Religious Affairs in Oman. He is also an active member of several committees at the Ministry responsible for Mosques, Zakat, Hajj, Publications and Book Revision.
Who are Alizz Islamic Bank's Board Members?
- H.H. Sayyid Taimur Bin As'ad Bin Tarik Al Said (Chairman)
- Mr. Mohammed Shukri Ghanem (Vice Chairman)
- Mr. Ahmed Al Khonji
- Mr. Shabib Al Darmaki
- Mr. Mohamed Rashed Al Hurr Al Suwaidi
- Mr. Obaid Hilal Obaid Mohamed Al Kaabi
- Mr. Saleh bin Nasser Al Araimi
Who are the promoters of the Bank?
Mudharaba is one of the investment partnerships forms, and it is a profit and loss sharing mode of financing. In Our promoters come from diverse yet complementary backgrounds, and share extensive experience in leadership roles, all of which contribute to establishing a solid foundation from which Alizz Islamic Bank can flourish.
- Huriah Company LLC: an investment vehicle majority owned by HH Sayyid As'ad bin Tarik Al Said based in the Sultanate of Oman.
- Aabar Investments PSJ: an investment company headquartered in Abu Dhabi.
- First Energy Oman: a Cayman Islands registered, wholly owned subsidiary of First Energy Bank B.S.C.(c).
- Tasameem Real Estate Company LLC: a private investment company based in the United Arab Emirates (UAE).
What is the story behind Alizz?
- The name 'Alizz' implies pride and prosperity.
- The logo is inspired by an Islamic artistic pattern that captures the traditional values of Alizz Islamic Bank, while the colors of blue and silver sets the bank's tone of modernity.
The silver calligraphy of the Alizz Islamic Bank name in the centre is symbolic of the integral role the bank plays in the lives of individuals. The pattern radiating outward depicts the bank's influence and commitment to the larger community.
When was Alizz Islamic Bank founded?
Alizz Islamic Bank was founded in October 2012.
Where is your Headquarters?
Our head office and first flagship branch is in Alizz Islamic Bank, Alizz Tower, Central Business District, Ruwi, Sultanate of Oman.