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Frequent questions about Islamic Banking

Is there any late payment fees?

Yes

In case of any lateness of payment, Cardholder will promise to pay 1% of the unpaid minimum due amount to the Charity, as per the chosen payment plan.

If I have used my full credit limit, can I use the card?

No

If you have used up your credit limit fully then you cannot use the Bank Nizwa Credit Card until you repay. The amount repaid will then be available for your use.

How much should I repay every month?

You need to repay the «Minimum Amount Due» which is equivalent to 5% or 100% of the «Current Balance».  The minimum monthly repayment is 5% or RO 10, whichever is higher.

How is the balance determined?

The total outstanding balance appears as the «Current Balance» on your Bank Nizwa Credit Card statement.

How is the balance determined?

The total outstanding balance appears as the «Current Balance» on your Bank Nizwa Credit Card statement.

Tell me about Bank Nizwa Credit Card statement?

We will send you a statement for your Bank Nizwa Credit Card. It will be mailed to your home or office address as indicated by you in Bank Nizwa Credit Card application form. Your statement will indicate your payments, credits and your current balance

Why am I unable to withdraw cash on some occasions?

Your cash cash withdrawal limit is 80% of your total credit limit. If you have already used this limit, further cash withdrawal is not possible until you repay the amount.

Is there any maximum limit for the withdrawing cash?

Yes

Bank Nizwa is allowing you to withdraw cash up to 200 RO per transaction.

Is there any fee for withdrawing cash?

Yes

Every time you draw cash, a cash fee of 3 RO will be charged from your account. You will receive the full amount withdrawn from the ATM. This cash withdrawal fee will be deducted immediately and will appear in your Bank Nizwa Credit Card statement.

Can I withdraw cash on my Bank Nizwa Credit Card?

Yes

Every time you draw cash, a cash fee of 3 RO will be charged from your account. You will receive the full amount withdrawn from the ATM. This cash withdrawal fee will be deducted immediately and will appear in your Bank Nizwa Credit Card statement.

Is there any charge on using my Bank Nizwa Credit Card at merchant establishment?

No

There is no charge for using your Bank Nizwa Credit Card at any merchant establishment in Oman as well as Outside Oman. Merchant cannot ask you to pay additional fees for using your Credit Card.

Where can I use my Bank Nizwa Credit Card?

Your Bank Nizwa Credit Card can be used anywhere in Oman and Worldwide, for purchase of goods and services, in all shops and establishments that display the Master Card logo. These include hotels, restaurants, travel agent and much more.

Are Bank Nizwa products & services truly Sharia compliant?

Yes, they are.

All services, products and processes that are offered by Bank Nizwa are first reviewed and approved by distinguished Islamic scholars on the banks Sharia Supervisory Committee.

Does Bank Nizwa offer products & services that conventional banks offer me?

Yes, it does.

Bank Nizwa offers a wide range of Sharia compliant solutions for day-to-day banking. as well as financing options and investment opportunities catering to the needs of individuals and businesses.

Does Bank Nizwa have corporate tie-ups that can benefit me?

Yes, it does.

Bank Nizwa has numerous tie-ups for special discounts, limited offers and exclusive privileges with businesses ranging from retail outlets and restaurants, to travel agents, hotels and airport lounges.

Can a Bank Nizwa customer withdraw cash for free at any ATM in Oman?

Yes, they can.

Bank Nizwa customers can use their debit card to withdraw cash free-of-charge at any AnA in Omanand access their accounts from thousands of MasterCard® AllAs worldwide.

Can I avail personal finance from Bank Nizwa?

Yes, you can.

Bank Nizwa offers a wide range of affordable Sharia compliant personal finance solutions that can be customised for the diverse needs of individual customers.

Can I transfer my conventional housing loan to Bank Nizwa?

Yes, you can.

You can convert a home loan from a conventional bank into Sharia compliant home finance from Bank Nizwa quite easily, in most cases.

Can I make an investment or generate profit from my account at Bank Nizwa?

Yes, you can.

You will earn a fair and proportionate share of the profits generated by your investments, which have been invested by the bank in Sharia compliant activities.

Are services at Bank Nizwa comparable to services at conventional banks?

Yes, they are.

With a growing network of branches, access to funds free-of-charge at any ATM in the OmanNet network, and innovative online banking, you enjoy all the world class features with a Bank Nizwa account.

Does Bank Nizwa have corporate tie-ups that can benefit me?

Yes, it does.

Bank Nizwa has numerous tie-ups for special discounts, limited offers and exclusive privileges with businesses ranging from retail outlets and restaurants, to travel agents, hotels and airport lounges.

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