Sohar Islamic signs MoU with ministry for convenient home financing solutions

Sohar Islamic signs MoU with ministry for convenient home financing solutions

Muscat: Contributing towards the development of the Omani real estate sector, Sohar Islamic signed a Memorandum of Understanding (MoU) with the Ministry of Housing &Urban Planning with the purpose of enabling Omanis to own a home.

The scope of the memorandum includes financing the beneficiaries of the Naseem neighborhood, the first community neighborhood of the Souroh Initiative launched by the ministry, and similar projects.

Signing the agreement on behalf of Ministry of Housing and Urban Planning was Eng. Hamad Ali Sulaiman Al Nazwani, Undersecretary of the Ministry of Housing and Urban Planning for Housing with Sohar Islamic represented by Fahad Al Zadjali, Head of Retail Banking and Branches at Sohar Islamic.

The signing ceremony took place at the Ministry of Housing and Urban Planning and witnessed the presence of senior officials from the bank as well as the ministry. As per the terms of the MoU, Sohar Islamic customers can now obtain quick, easy, and convenient property financing solutions from the bank to purchase properties that are either under construction or fully completed and that fall under the ministry’s Sorouh initiative.

Commenting on the signing of the MoU, Abdul Wahid Al Murshidi, Chief Islamic Banking Officer at Sohar International said, “As a progressive, agile,