Diversification of Islamic Financial Insturments
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Islamic Banking Products Snapshot
Here is a summary of the products that are used by Oman’s Islamic Banking Financial
Institutions to fulfill the customer requirements:
Table 58. Islamic Banking Products Snapshot of Oman
Liability Side Products
Customer Requirements Islamic Banking Product /Solution
Saving requirements with Profits Mudarba based Savings Account
Transactional Banking requirements
for Individuals
Qard based Current Account
Transactional Banking Requirements
for Businesses
Qard based Business Current Account
Investment and Liquidity Management
needs
Wakala Investments
Long Term Investment needs for
Individuals
Wakala Investments
Corporate Finance Products
Short TermWorking Capital Financing Murabaha Working Capital
Service Ijarah (Under Development)
Bill Discounting Murabaha Working Capital
Service Ijarah (Under Development)
Long Term Financing for Property
Plant & Equipment
Diminishing Musharakah
Ijarah
Construction Finance Forward Diminishing Musharakah
Forward Ijarah
Off Balance Sheet Long Term Financing Ijarah
Forward Ijarah
Takeover from Conventional Banking Ijarah Sale and Lease Back
Import Sight LC Non-Funded Islamic Ujrah based LC
Import Usance LC Non-Funded Islamic Ujrah based LC
Import Sight LC Funded SLC Murabaha
Import Usance LC Funded ULC Murabaha
Import Contract Funded Contract Murabaha
Import LC long term Financing Ijarah
Forward Ijarah
Diminishing Musharakah
Forward Diminishing Musharakah
Retail Finance Products
Car Financing Auto Murabaha
Home Finance – Ready Purchase Diminishing Musharakah
Ijarah
Home Finance – Takeover Ijarah Sale and Lease Back
Home Finance Construction Forward Ijarah
Forward Diminishing Musharakah
Islamic Personal Financing – Consumer
Goods
Goods Murabaha
Credit Cards Ujrah based
Source: Created by Author