Bank Nizwa is the first specialized Islamic bank in the Sultanate of Oman to provide all Shariah-compliant products and services.
Its work about banking, insurance, gives loans and saves money for people or company. They have lots of branches about 12branches in Oman .I interviewed my friend. His name Muctar Almajali. He is working in the bank as accounting about 5 years. He is active employee and got many rewards
Nizwa bank is one of the most famous banks in Oman. It is the first Islamic to be established in Oman. Huge number of people who are aware of having Islamic dealings get their loans from Nizwa Bank. Eventhough, It is very helpful for people to get Islamic loans without worrying of Harram or Ribba, the bank has lots of disadvantages.
There are some advantages of Nizwa Bank for example, all their dealings are in Islamic way. You take yourself away from Harram. Also, you can get easy loans for building homes.
On the other hand, there are some disadvantages for Nizwa Bank for example, it takes long time for the procedures of any loan. Also, you can’t have personal loans, only you can getloans for cars or homes. Moreover, if you get any loan, you have to pay 20% of the loan to the bank as advance payment. Not all people are able to have 20% of the layment so it is difficult for them to have these Islamic dealings.
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