Ahli Islamic Oman

What Ahli Islamic Oman does

Ahli Islamic is the dedicated Islamic banking subsidiary of ahlibank in the Sultanate of Oman, established in January 2013 as AlHilal Islamic Banking Services and rebranded to ahli islamic in May 2019. It operates as a full-service Islamic bank through 19 branches across the country, serving retail, corporate, SME, premium, and high-net-worth customer segments with a comprehensive Sharia-compliant product suite. The product portfolio spans eight deposit account types, five financing products (personal, auto, home, commercial, Iskan), four tiers of credit cards (Gold, AlMajd Platinum, Al Shumookh Signature, Al Shumookh Infinite), corporate financing via Murabaha, Ijara Muntahiya Bil Tamleek and Diminishing Musharaka, SME solutions including the Tamkeen Islami initiative (OMR 20,000–100,000), treasury services, and an Al Shumookh wealth management platform offering 6%+ Sukuk fund distributions with OMR 5,000 minimum subscription.

The bank runs on an Islamic-specific core banking system supporting Shari'a-compliant transaction modes (Murabaha, Ijara, Musharaka, Mudaraba, Wakala, Salam, Istisna), fronted by mobile banking, internet banking, the IslamiNET corporate electronic banking portal for bulk payments and WPS payroll, ahliExpress self-service kiosks, and digital wallet support across Apple Pay, Samsung Pay, Google Pay, and Garmin Pay. Pearl Points loyalty is integrated across credit cards, debit cards, salary transfers, and deposits. Governance is anchored by an independent three-member Shari'a Supervisory Board chaired by Sheikh Dr. Ali Mohieldin Al Qaradaghi, plus a dedicated Shari'a Audit and Compliance Department led by a senior Shari'a professional with prior experience at Doha Bank and Dubai Islamic Bank Pakistan.

Revenue is generated through three primary streams: financing income from Murabaha (cost-plus sale), Ijara (leasing), and Diminishing Musharaka (co-ownership) transactions; fee-based income from Ujra-based credit card monthly fees, account maintenance, and trade services (Letters of Credit, guarantees); and Mudaraba/Wakala-based deposit investment returns shared with depositors under tier-based profit rate structures. Late-payment penalties are donated to charity rather than retained, consistent with Shari'a principles. The go-to-market is a hybrid sales-led and event-driven model combining branch-based relationship management for corporate and privileged banking with active promotional campaigns tied to national occasions (Ramadan, Eid, National Day) and merchant partnerships with Talabat, Lulu, Shell, and IKEA. Recent strategic activity has focused on large-ticket project finance deals, including a 93 MW solar project with O-Green and Madayn and 366-unit residential financing with Al Osool Company.

Name

Ahli Islamic Oman

Legal name

Ahli Islamic

Website

https://ahliislamic.om

Company type

Private

Founded year

2013

Operating status

Operating

Short description

Ahli Islamic is the dedicated Islamic banking subsidiary of ahlibank in Oman, offering Sharia-compliant retail, corporate, SME, premium, and wealth management products through 19 branches and comprehensive digital banking channels since 2013.

Ownership category

akta.pro rank

Product category

Islamic Retail Banking

NAICS

Commercial Banking (522110), Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Islamic Retail Banking (FSABAGAA)

akta.pro secondary industries

Islamic Corporate Banking (FSABAGAC), Islamic SME & Commercial Banking (FSABAGAB), Islamic Private Banking & Wealth (FSABAGAD), Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Islamic Deposit & Account Products (Current/Savings/Investment Accounts) (FSABAGAI), Islamic Transaction Banking (Cash Management & Treasury Services) (FSABAGAF)

Keywords

• Islamic banking services
• Sharia-compliant financing
• Personal banking accounts
• Corporate banking solutions
• Wealth management solutions

Headquarters

HQ city

Muscat

HQ country

Oman

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Financing Income: Primary revenue stream from Sharia-compliant financing products including Murabaha (cost-plus sale), Ijara (leasing), Diminishing Musharaka (co-ownership), and Services Ijara. The bank purchases assets and sells to customers at cost plus agreed profit, or provides leasing arrangements.
2. Fee-based Income: Fees charged for credit cards (Ujra principle - service fee basis), account maintenance, trade services (Letters of Credit, guarantees), and digital banking services. Credit cards charge monthly fees irrespective of usage as per Sharia principles.
3. Deposit-based Investment Returns: Investment of depositor funds under Mudaraba and Wakala bil istithmar modes, with profits shared between bank and depositors. Savings accounts earn tier-based profit rates based on Mudaraba principle where depositors share in investment returns.
4. Wealth Management and Sukuk Funds: Al Shumookh Wealth Management offers Sharia-compliant investment solutions including Sukuk Funds with distribution rates of 6% and above, minimum subscription of OMR 5,000, targeting high-net-worth customers.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Ahli Islamic Oman operates as a full-service Islamic bank offering Sharia-compliant deposit accounts, personal and commercial financing (Murabaha, Ijara, Diminishing Musharaka), credit cards, corporate and SME banking, treasury services, wealth management (Sukuk funds), and a loyalty rewards program (Pearl Points). The bank serves retail consumers, SMEs, large corporates, and high-net-worth individuals through 19 branches across Oman complemented by mobile, internet, and corporate electronic banking platforms.

Product overview

Ahli Islamic Oman operates as a full-service Islamic bank with a comprehensive portfolio of Sharia-compliant banking products organized across personal banking (deposit accounts, financing, credit cards, digital banking), business banking (corporate, SME, treasury, trade services), privileged banking (AlMajd, Al Shumookh segments), and loyalty programs. The bank offers 8 deposit account types (Current, Savings, Al Namaa, Qitaf, Ladies, Al Masar Youth, Children, Term Investment), 5 financing products (Personal, Auto, Home, Commercial, Iskan Program), 4 credit card tiers (Gold, AlMajd Platinum, Al Shumookh Signature, Al Shumookh Infinite), corporate banking products (Murabaha, Ijara MBT, Diminishing Musharaka), SME solutions including Tamkeen Islami, IslamiNET electronic banking portal, treasury services, and the Pearl Points loyalty program with redemption options for travel, shopping, and cash back.

Differentiator

Problem solved

Functional benefit

Brands

• AlMajd Segment: Privileged banking segment offering premium services including branded debit and credit cards, customized cheque books, enhanced daily withdrawal limits, and dedicated service counters.
• Al Shumookh Banking
• Pearl Points
• IslamiNET
• Tamkeen Islami

Products and services

• Current Account Sharia-compliant current account based on the Qard Hassan principle for individual customers, offering cheque book facility, ATM access, utility bill payments, and mobile/internet banking access for daily banking needs.
• Savings Account Sharia-compliant savings account based on the Mudaraba principle, offering tier-based monthly expected profit rates, debit card facility, and 24/7 digital banking access for individual customers.
• Al Namaa Account Investment savings account offering tier-based profits and higher expected returns with debit card and cheque book facilities for individual customers seeking higher yields on their savings.
• Qitaf Savings Account Sharia-compliant savings account with monthly profit rate and debit card facility designed for individual customers seeking to maximize returns on their savings under Mudaraba principles.
• Ladies Savings Account Exclusive Sharia-compliant savings account for female customers offering dedicated merchant offers, uniquely designed debit card, and monthly profit earnings under Mudaraba principles.
• Al Masar Youth Account Sharia-compliant youth account for ages 18-25 offering free ATM withdrawals across Oman, branded debit card, up to OMR 1,000 daily withdrawal limit, Qard Hassan financing up to one month's salary, and welcome gift.
• Children Savings Account Sharia-compliant savings account for children up to 18 years old designed to instill savings habits, with monthly profits under Mudaraba principles and merchant offers.
• Term Investment Account Fixed investment account based on Mudaraba/Wakala principle with tenor up to 5 years, offering flexible profit payout frequencies (monthly, quarterly, annually, or at maturity) and multi-currency deposit options for individual customers.
• Personal Finance Sharia-compliant personal financing via Goods Murabaha (for furniture and accessories) and Service Ijara (for travel and education), with tenor up to 10 years, finance up to 100% of goods/service value, and competitive profit rates for individual customers.
• Auto Finance Sharia-compliant auto financing based on Murabaha principles, where the bank purchases the vehicle from a third party and sells it to the customer at cost plus an agreed profit on an installment basis, with flexible tenors.
• Home Finance Sharia-compliant home financing for buying a house or land or for construction based on Diminishing Musharaka with Ijara/Ijara Muntahiya Bil Tamleek, offering individual or joint financing options for individual customers.
• Commercial Finance Sharia-compliant commercial financing for retail customers including Vehicle Murabaha, Goods Murabaha, Services Ijara, and Real Estate financing with tenors up to 12 years, structured to support individual business and commercial activities.
• Iskan Program Sharia-compliant home financing program in collaboration with Oman Housing Bank based on Diminishing Musharaka structure, designed to provide quicker access to home ownership for eligible married Omani citizens with a seamless digital application process.
• Credit Cards (Gold, AlMajd Platinum, Al Shumookh Signature, Al Shumookh Infinite) Sharia-based credit card suite with four tiers based on the Ujra principle (monthly service fee irrespective of usage, no interest charges): Gold Credit Card for entry-level customers (minimum salary OMR 320-999), AlMajd Platinum Credit Card for mid-tier premium customers (OMR 1,000-3,499 salary) with 25 airport lounge visits per year and Dragon Pass airport dining, Al Shumookh Signature Credit Card for high-tier customers (OMR 3,500-4,999 salary) with up to 1% cashback, 1,200+ airport lounge access 12 times per year, complimentary airport chauffeur 3 times per year, and free travel insurance, and Al Shumookh Infinite Credit Card by invitation only with unlimited airport lounge access with one guest, complimentary airport chauffeur 5 times per year, purchase protection, and free travel insurance. All cards offer worldwide acceptance, EMV chip, Verified by Visa, and Pearl Points earning on every spend.
• Group Credit Life Takaful Coverage Comprehensive Sharia-compliant takaful coverage (Islamic insurance) protecting financing customers against death, permanent total disability, and permanent partial disability, with coverage up to OMR 375,000 for finances and OMR 25,000 for credit cards.
• Corporate Banking Sharia-compliant corporate banking services for large enterprises including Murabaha, Ijara Muntahiya Bil Tamleek (Ijara MBT), and Diminishing Musharaka financing products, plus trade services such as Letters of Credit, guarantees, and Business Remittance.
• Small and Medium Enterprises (SME) Banking Sharia-compliant SME banking solutions including Ijara MBT for vehicles and equipment, Diminishing Musharaka for commercial real estate, plus trade services designed for small to medium-sized enterprises.
• IslamiNET (Corporate Electronic Banking) Online corporate electronic banking portal enabling corporate customers to perform seamless online payments, manage cash flows, execute PASI and utility bill payments, support bulk payments, vendor payments, payrolls, and WPS salary uploads.
• Treasury Services Comprehensive treasury and investment products including foreign exchange (Spot, FX Waad), Wakala Deposits, and Money Market solutions for corporate, commercial, and government institutions to support cash flow management and foreign exchange needs.
• Tamkeen Islami First-of-its-kind SME financing initiative in Oman based on Murabaha and Services Ijara, offering financial packages between OMR 20,000 and OMR 100,000 with no equity or collateral required, providing accessible Sharia-compliant financing to small and medium enterprises.
• AlMajd Privileged Banking Privileged banking segment for customers with OMR 1,000+ monthly salary transfer or OMR 10,000+ deposits, offering branded debit and credit cards, customized cheque books, enhanced daily withdrawal limits, dedicated service counters, priority service, and curated merchant offers.
• Al Shumookh Premium Banking Premium banking service with dedicated relationship manager, premium branch lounges, branded cards and cheque books, 24/7 concierge, up to 1% cash back on credit card spends, and access to 1,200+ airport lounges worldwide, designed for affluent individual customers.
• Al Shumookh Private Banking Exclusive private banking by invitation offering 24/7 concierge service, unlimited access to 1,200+ airport lounges with one guest, complimentary airport chauffeur service (5 times per year), travel insurance, and bespoke banking services for ultra-high-net-worth individual customers.
• Al Shumookh Wealth Management Personalized wealth management service with investment advisory, dedicated advisors, Sharia-compliant investment solutions, and optimal tax planning, including Sukuk Funds with distribution rates of 6% and above and a minimum subscription of OMR 5,000, targeting high-net-worth individual customers.
• Pearl Points Loyalty Program Loyalty rewards program allowing cardholders and account holders to earn points on credit card spends, debit card international transactions, salary transfers, deposits, and digital banking usage, redeemable for flights, hotels, shopping vouchers, and cash back.

Quantifiable outcome

• Over 200 industrial units to be served by solar project financing
• +2 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Madayn (Public Establishment for Industrial Cities)coreStrategic or Co-development Partner · 22 May 2026Strategic partnership with Madayn for development of solar project in Suhar Industrial City. Madayn serves as the industrial cities developer and operator, while Ahli Islamic provides project financing and O-Green executes the solar development.
• Al Osool CompanycoreStrategic or Co-development Partner · 23 February 2026Two MoUs signed for Golf Hills project: first for project financing and second for buyer financing under retail finance solutions. The project includes 366 residential units across three towers in Muscat Hills master community with total built-up area of 59,845 square meters.
• TalabatminorGTM or Marketing PartnerEid Al-Fitr promotional campaign offering 50% discount on Talabat orders for Ahli Islamic credit cardholders, available March 20-21, 2026 with maximum discount of OMR 10 per order. Part of Ramadan 2026 promotional series.
• Lulu Group InternationalminorGTM or Marketing PartnerRamadan promotional partnership offering OMR 5 instant discount on Lulu Online grocery purchases of OMR 20+ for credit cardholders. Promotion applied to fresh produce, pantry staples, dairy, frozen goods, and health & beauty items.
• Shell Oman MarketingminorGTM or Marketing PartnerNational Day promotional partnership offering 50% cashback for credit cardholders using cards at Shell service stations. Reflects alignment with national priorities and commitment to customer expectations.
• IKEA OmanminorGTM or Marketing PartnerPromotional partnership offering 20% instant discount to credit cardholders at IKEA. Part of bank's strategy to provide selected merchant offers that meet customer needs.
• Oman Housing Bank (Iskan Program)coreStrategic or Co-development PartnerCollaboration on Iskan initiative - a Sharia-compliant home financing program for eligible Omani citizens based on Diminishing Musharaka structure. Reduces waiting times for home ownership with seamless digital application process.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Bank Nizwa: Oman's first full-fledged standalone Islamic bank, directly competing with Ahli Islamic across retail, corporate, and SME Shari'a-compliant banking. Most direct comparable given overlapping product set, customer base, and Omani regulatory environment.
• Boubyan Bank: Kuwait-based Islamic bank focused on retail, SME, and corporate Shari'a-compliant banking. Comparable in scale and segment focus, particularly on digital-first customer acquisition and SME financing innovation.
• Meethaq Islamic Banking (Bank Muscat): Islamic banking window of Bank Muscat, Oman's largest bank. Comparable in that it is also an Islamic window operating within a larger conventional parent, serving similar retail, corporate, and SME segments across Oman.
• Alizz Islamic Bank: Another standalone Omani Islamic bank offering full-suite Shari'a-compliant retail, corporate, and treasury products. Competes head-to-head with Ahli Islamic for deposits, financing, and project-finance deals in Oman.

Broad incumbents

• Kuwait Finance House: One of the oldest and largest Islamic banks globally, operating across GCC with retail, corporate, treasury, and wealth management. Useful benchmark for Shari'a-compliant product breadth and regional Islamic banking best practices.
• Dubai Islamic Bank: UAE's largest Islamic bank offering full retail, corporate, and treasury Shari'a-compliant products. Comparable as a benchmark Islamic bank for product sophistication, governance structure, and digital banking capability.
• Al Rajhi Bank: Saudi Arabia's largest Islamic bank with deep retail, corporate, and wealth management offerings. Comparable on Islamic banking governance and the breadth of Shari'a-compliant financing and deposit products.
• Bank Muscat: Oman's largest conventional bank and parent of Meethaq Islamic. Competes with Ahli Islamic across the full banking value chain, including Shari'a-compliant offerings through its Islamic window, and dominates corporate banking in Oman.
• ahlibank (parent): Conventional parent bank of Ahli Islamic. Operates a parallel conventional banking franchise that competes for the same Omani customers while cross-subsidizing and supporting the Islamic window's operations and brand.
• Qatar Islamic Bank (QIB): Qatar's largest Islamic bank with full retail, corporate, and private banking franchises. Comparable on Shari'a governance structure, wealth management proposition, and GCC regional benchmarks.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ahli Islamic Oman