Bank Nizwa Inks RO20 Million Financing Agreement with ONEIC

SourceBusiness Live ME
SectorFinancial Services

The mega-project aims to establish the Sahalnoot sanitation network for Salalah Sanitary Drainage Services Co SAOC. Coinciding with the 50th National Day and continuing to support the Sultanate’s socio-economic and infrastructure development goals, Oman’s leading and most trusted Islamic Bank, Bank Nizwa, signed a financing agreement with Oman National Engineering & Investment Company SAOG (ONEIC) to establish Sahalnoot sanitation network for Salalah Sanitary Drainage Services Co SAOC (SSDC). The project, valued at RO45 million, is one of the most identified key projects that will support overall development in the Dhofar region and follows the national direction of encouraging more private sector investments in the country’s infrastructure. Bank Nizwa is pleased to support this essential Salalah infrastructure project by providing Sharia-compliant financing to the tune of RO20 million. The finance agreement was signed at the Bank Nizwa headquarters by Sheikh Khalid bin Abdullah Al Khalili, Chairman of Bank Nizwa and Sheikh Aiman bin Ahmed Al Hosni, Chairman of ONEIC in the presence of Mr. Khalid Al Kayed, CEO of Bank Nizwa and Dr. Rashid Al Ghilani, CEO of ONEIC as well as Bank Nizwa’s senior management including GM, AGMs and Head of Dhofar business division and other senior officials. The project is the more...