Advance Profit Wakala
Based on the concept of Wakalah bil Istithmar; Advance Profit Wakala offers customers a fixed investment option with expected profits to be paid up-front on the day the Investment funds are deposited with Muzn.
Features and Benefits:
- Account Type: 1 Year Wakalah Investment
- Tenor: 1 Year Maturity
- Currency: Omani Riyal
- Incentive: Upfront profit payment on the day the Investments funds are deposited with Muzn.
- Will be linked with Privilege Current account or Privilege Premium account
- Airport Lounge access.
- Privilege Merchant discounts and benefits
Are you eligible?
An initial opening balance of OMR 20,000 is required
Restriction
In case the customer withdraws/breaks the 1-Year Wakalah deposit before completing one year, the customer will be eligible for profit for only the completed tenor. For example, if the customer terminates the 1 Year Wakala after 2 months 16 days the Customer will only be eligible for profit of 2 completed months; which is 0.15% applied to 2 months. Hence the excess amount given to the customer as upfront profit will be deducted from his principal amount upon termination.
Wakala Investments
Based on the concept of Wakalah bil Istithmar; Wakala Investments offers customers a fixed investment option for various tenors ranging from 1 month to 5 years. Customers are offered attractive expected profit rates based on the tenor of their investment.
Features and Benefits:
- Profit to be paid on maturity
- Flexible Tenors ranging from 1 month to 5 years.
- Will be linked with Privilege Current account or Privilege Premium account
- Airport Lounge access.
- Privilege Merchant discounts and benefits.
Are you eligible?
An initial opening balance of OMR 20,000 is required
Branches
Athaibah
South Athaibah Way No: 244 Al Sahwa Towers Building No: 2, Ground Floor, Phone: 24527198
Mabellah
Al-Janobiah Way no: 6901, Building no: 15 Phone: 24452387
Sur
Near Sanaya Roundabout Opposite Badr AlSamaa Poly Clinic Phone: 25540726
Sohar
Al Waqaibah Way No: 4803 Building No: 24 Block No: 2248 Phone: 26846692, 26846044, 26846118
Nizwa
Nizwa city Firq area Hay Alain Junction Near Aldiyar Hotel Phone: 25411241, 25411681
Salalah
Al Zaky Building Opposite Souk AlMarkazi Phone: 23291310
* Terms & Conditions apply.
Disclaimer: All Muzn Islamic Banking products and services are approved by the Muzn Shari’a Supervisory Board and are subject to Muzn Islamic Banking’s terms and conditions and submission of acceptable documentation.
