Alizz Islamic Bank empowers women with its new female banking segment ‘Hiyya’

Alizz Islamic Bank empowers women with its new female banking segment ‘Hiyya’

Muscat: Upholding the bank's tradition of observing the Omani Women's Day with symbols of appreciation and empowerment, a ceremony was held at Shangrila Bar Al Jissah Resort under the auspices of Asila Al Samsami, Undersecretary of the Ministry of Commerce & Industry and Investment Promotion for Investment Promotion and in the presence of the CEO of Alizz Islamic Bank, Sulaiman Al Hatrthi. During the ceremony Alizz Islamic Bank announced the launch of an exciting new female banking segment called 'Hiyya', featuring a bouquet of banking products and services that are designed exclusively for women. Celebrated annually on October 17, Omani Women's Day, this year, will mark a new chapter in the history of Alizz Islamic Bank, as 'Hiyya' is crafted to meet all the investment, health and financial needs of female customers; it will provide customers with a tier based savings account to enhance their profits. The Sharia compliant account is based on the principle that the customer is the 'rab-al-mal' (investor) and the bank is the 'mudarib' (investment manager), wherein the bank invests the funds within a common investment pool, including other partner accounts. As per the arrangement, profits will be shared between customers and the bank according to