MUSCAT: NBO Muzn Islamic Banking is pleased to introduce its new Shariah-compliant Medical Finance product, designed to provide flexible and ethical financing options for those seeking medical treatment within Oman or abroad. As part of NBO Muzn’s commitment to addressing the diverse needs of its customers, this innovative financing solution offers a seamless and accessible way to manage healthcare expenses.
Salima Obaid Issa Al-Marzoqi, Chief Islamic Banking Officer at NBO, commented: “We are excited to launch our new Medical Finance product, which aligns with our mission to offer ethical and customer-centric banking solutions. Healthcare is a priority for everyone, and we are proud to provide a financing option that upholds the principles of Shariah while ensuring our customers have access to the best possible medical care, whether within Oman or internationally.”
The Muzn Medical Finance solution is based on the Shariah concept of Service Ijarah. It provides financing options for individuals or their family members for medical treatments, whether in Oman or internationally. The product offers flexibility, allowing customers to choose their preferred medical centre and, when seeking treatment abroad, finance the entire journey, including airfare, hotel bookings, meals, airport transfers, and medical bills.
This product offers a maximum financing tenor of up to 7 years, with the flexibility of salary transfers and a Debt Burden Ratio (DBR) capped at 50 per cent, which can be extended to 60 per cent if the customer has existing housing finance liability. Muzn’s Medical Finance is designed to meet the growing demand for comprehensive healthcare financing, allowing customers to focus on their well-being without financial stress.
The launch of Muzn Medical Finance is part of NBO Muzn’s broader strategy to target new-to-bank customers and create awareness of its wide range of Shariah-compliant products and services. By offering tailored solutions that cater to the needs of locals and expatriates across Oman, Muzn continues to establish itself as a leader in Islamic finance.
For more information on Muzn’s Medical Finance or other Shariah-compliant offerings, please visit www.Muzn.om or contact the NBO Call Centre at 24770001.
