Bank Dhofar Visa Signature Credit Card.

Muscat: Bank Dhofar, a pioneer in providing innovative financial solutions, proudly introduces Visa Signature Credit Card. This premium credit card is designed to cater to the needs of its esteemed priority bank clients, offering an array of exclusive benefits and privileges.

Bank Dhofar’s Visa Signature Card is more than just a card; it’s a statement of luxury and a commitment to providing customers with an unparalleled banking experience. Key features which make this credit card stand out:

Exceptional Rewards: Cardholders will have access to an exceptional rewards program, with a remarkable 1.68% value back on international purchases and 1.12% on transactions made in Oman. Customers can earn points on every purchase, and redeem them for a variety of options, including travel, shopping, and more.

Global Concierge: Cardholders can experience the freedom to shop and travel internationally. The Credit Card is widely accepted at millions of locations worldwide while enjoying the convenience of concierge services to assist with travel arrangements, dining reservations, and exclusive event access.

Luxury Benefits: The card transforms travel experiences with 12 complimentary lounge access passes to over 1000+ airport lounges worldwide through the Lounge Key program

Enhanced Security: Bank Dhofar prioritizes the security of our cardholders. The Visa Signature Credit Card is equipped with advanced security features, including EMV chip technology, providing peace of mind for every transaction.

Dedicated Support: Our Visa Signature cardholders enjoy priority customer support to address inquiries and concerns promptly. Bank Dhofar is committed to ensuring a seamless and personalized banking experience for each valued customer.

To apply simply walk into any of the 100+ branches located closer to you visit www.bankdhofar.com/cards/

1- Dentons advises Al Rajhi on $506mln Jabal Omar project deal

Saudi Arabia – Leading global law firm Dentons said it had played an advisory role for Saudi bank Al Rajhi on a SAR1.9 billion ($506 million) Murabaha facility agreement with Jabal Omar Development Company for a its flagship multi-use real estate mega-development project in the kingdom.

The two-year facility, which is backed by a Ministry of Finance guarantee, is aimed at helping the Saudi developer Jabal Omar accelerate the completion of the phases of under-construction assets.

The Dentons team was led by Banking and Finance partner Umera Ali, with support from senior associate Tony Nicholson and consultant Mahnoor Latif.

On the key role, Ali, said: “We are delighted to have supported Al Rajhi Bank on this facility and, through doing so, contributing to the further development of the kingdom’s vision for the tourism sector.”

“This deal further highlights the strength of Dentons’ finance practice in the Kingdom of Saudi Arabia, and we look forward to many similarly successful transactions in the kingdom this year,” he added.

Global Islamic finance market would reach $4.9trln by 2025: Malaysian Trade Commissioner

It is expected that the Islamic finance sector will grow by around 10% globally in 2023 and 2024, according to earlier estimates by Standard & Poor’s Global Ratings

WAM (Emirates News Agency)

GLOBAL MARKETSMIDDLE EASTMALAYSIAISLAMIC FINANCE

HONG KONG – Yazrin Syakhairi, Malaysian Trade Commissioner, under the Trade Section of the Consulate General of Malaysia in Hong Kong (MATRADE), anticipated that the global Islamic finance market would reach US$4.9 trillion by 2025.

Speaking on the sidelines of the Asian Financial Forum (AFF) in Hong Kong, Syakhairi told the Emirates News Agency (WAM) that the Islamic finance market is witnessing significant and rapid growth worldwide, surpassing the size of US$2.2 trillion in 2022.

It is expected that the Islamic finance sector will grow by around 10 percent globally in 2023 and 2024, according to earlier estimates by Standard & Poor’s Global Ratings.

Syakhairi explained that the AFF is the largest financial event currently taking place, associated with the financial services industry, which is one of the largest industries in Hong Kong, one of the world’s major financial cities.

He noted that Malaysia is participating in the event to share its expertise in finance, particularly in Islamic finance.

He mentioned that the forum is a good opportunity to highlight other financing tools such as Sukuk or Islamic bonds, in addition to the prevailing global trend towards green finance, which can then be listed on financial markets in Hong Kong, Dubai, and Kuala Lumpur.

In response to a question about cooperation between the UAE and Malaysia in the financial sector, the Malaysian Trade Commissioner stated that the two countries have close and robust trade relations. He expressed hope for more collaboration and new initiatives with the UAE to increase and strengthen cooperation in the future.

Yazrin Syakhairi added that the UAE is witnessing significant development in the Islamic finance industry. He clarified that recent statistics indicate a noticeable growth in the size of this industry in the Middle East and the Association of Southeast Asian Nations (ASEAN), as well as its growth in other parts of the world.

Ahli Islamic opens the first Islamic bank in Quriyat

Muscat: Ahli Islamic is delighted to announce the grand opening of its latest branch in the Wilayat of Quriyat. It is considered the first Islamic bank in the Wilayat, which aims to offer premium Sharia-compliant banking products and services, catering to a diverse and discerning customer base. The launch event was conducted under the esteemed patronage of H.E. Sheikh Talal bin Saif Al-Hosni, Wali of Quriyat.

Nestled in the iconic town of Quriyat, renowned for its rich history and breathtaking scenery, the new Ahli Islamic branch will serve as a vital hub for facilitating Sharia-compliant financial services. The Bank is committed to meeting the evolving needs of a growing customer base, capitalizing on the burgeoning opportunities in the region. With a host of tourism projects coming up in and around Quriyat, complemented by the increasing awareness of Islamic banking, this new branch underscores Ahli Islamic mission to provide exceptional value to its shareholders by being accessible to people even in the far-flung areas of the Sultanate. Noora Sultan, AGM – Head of Retail Banking at Ahli Islamic, expressed gratitude during the opening ceremony, stating, “It is our immense pleasure to announce our venture into the ever-pleasant locale of Quriyat. Our new branch promises to provide innovative Sharia-compliant banking solutions in a state-of-the-art environment. Our experienced team is dedicated to exceeding expectations of individuals and businesses alike. As we continue to evolve, our expanding network of branches across the Sultanate is set to make a lasting impact on the Islamic banking industry.” Ahli Islamic assures its new customers of its readiness to go the extra mile, contributing to the advancement of financial services and Islamic banking within the area. Inviting the people of Quriyat to embrace an unparalleled banking experience, Noora Sultan added, “As the first Islamic bank to provide Sharia-compliant services in Quriyat, we guarantee you integrity and our utmost dedication to delivering the best, surpassing your expectations. We eagerly anticipate welcoming new customers and forging everlasting ties with them.”

Through the establishment of this new branch, Ahli Islamic reinforces its commitment to growth and innovation, reflecting enthusiasm for expanding into newer and grander horizons. Built on a foundation of trust and reliability, the Bank signals its unwavering dedication and aims to provide its best for the people of Quriyat.

IsDB, Shanghai’s new Development Bank sign document to develop cooperation

Shanghai: Islamic Development Bank (IsDB) President Dr. Muhammad Al Jasser met with President of the New Development Bank (NDB) Dilma Rousseff in Shanghai, China.
During their discussion at NDB headquarters, Al Jasser and Rousseff explored ways to strengthen institutional relations and foster greater cooperation in the development and promotion of Sukuk (Islamic bonds).
Additionally, they signed a document outlining the establishment of a joint working group between the IsDB and the NDB to develop a framework for cooperation between the two sides with the aim of enhancing the quality of life for the peoples of their joint member states.