Ahli Islamic Extends 1% Hiba Benefit on New Qitaf Bank Deposits

Muscat: Dedicated to elevating its customers’ banking experience with enriching and rewarding financial solutions, ahli Islamic is extending its enticing 1% Hiba cashback offer for new-to-bank deposits.

The Hiba offer, valid for all new-to-bank clients as well as existing Qitaf customers who make deposits of OMR 5,000 and above, provides a pathway to fortify their financial foothold. It’s a promotion tied to the Qitaf Savings Account, a product operating under the Sharia-compliant Mudaraba principle. As part of the Hiba arrangement, the 1% bonus will be credited to the customer’s Qitaf account following a three-month deposit period. The cashback benefit, however, is capped at OMR 5,000 per account.

Noora Sultan, AGM – Head of Retail Banking at Ahli Islamic, spotlighted the distinct advantages of the Hiba offer. She said, “The popularity of our Qitaf Savings Account has served as a platform for us to assist new customers in establishing a robust financial base complemented by a bonus gift. We aim to reward our clients with a compelling cashback offer that enhances their financial resilience while cultivating a solid savings culture.

Since inception, we’ve focused on enriching our customers’ banking experiences and promoting financial inclusivity with personalized products and services designed to cater to their immediate and future needs. The 1% Hiba on Qitaf deposits is a strategic initiative to meet this very goal. By crediting the 1% directly into the account post the three-month deposit period, we’re offering new clients a simple and convenient pathway to grow their capital.”

She added, “This promotion aligns with our continual efforts to create user-friendly platforms for new-to-bank customers. We’ve undertaken significant measures to foster a deeper understanding and appreciation of Islamic banking, inspiring more customers to benefit from our offerings.”

Ahli Islamic’s Qitaf Savings Account stands as an investment tool that aligns with the Shari’a principles of Mudaraba. In this arrangement, the account holder (Rabb ul-Mal) invests funds with Ahli Islamic (Mudarib) under an unrestricted Mudaraba contract. This approach not only bolsters profitable investments but also grants customers the flexibility to withdraw funds at their convenience.