Alizz Islamic Bank
An Omani full-service Islamic bank serving retail and corporate customers through branch and digital channels.
Last updated August 24, 2026
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History
Alizz Islamic Bank emerged during the development of Oman’s modern Islamic-banking sector. Royal Decree No. 69/2012 amended the country’s banking law to permit Islamic banking through specialized institutions and through Islamic banking entities associated with existing commercial banks. Alizz Islamic Bank SAOC was established within this legislative context as a dedicated Islamic bank. The bank launched its operations on 30 September 2013. It was structured as a closed joint stock company and focused on the Oman market. Rather than operating as a conventional bank with a limited Islamic window, it presented itself as a full-fledged Islamic institution whose products and services were intended to comply with Islamic finance principles. Its initial business scope covered retail and corporate finance. Customer access was provided through branches, online banking, and mobile devices, reflecting an effort to combine conventional physical distribution with newer digital channels. The available information supports a broad description of its offering as including Islamic financing, deposit-related services, account services, and corporate banking, but does not provide enough detail to identify individual product names, contractual structures, pricing, or eligibility conditions. The bank’s reported paid-up capital was 100 million Omani rials. Public investors supplied 40 percent through an initial public offering, while promoters contributed the remaining 60 percent. The supplied material does not identify all promoters or provide a sufficiently detailed ownership history. It also does not establish whether the institution’s corporate structure or shareholding later changed. During its early years, Alizz received external recognition for both technology and retail banking. In 2014, the Asian Banker Awards recognized its branch automation project as the best of its kind in the Middle East. In 2015, the Islamic Business and Finance Awards named it Best Retail Bank. These awards are relevant indicators of the bank’s early market positioning, particularly its emphasis on customer-facing retail services and technology-supported delivery. Yahya Said Al Jabri was identified as chairman of the board of directors and Ali Al Mani as chief executive officer in the available reference account. No reliable later management chronology is supplied. Likewise, the available material does not sufficiently document subsequent expansion, profitability, regulatory developments, mergers, acquisitions, rebranding, or the bank’s current operating condition. The present status is therefore left as unknown.
- 2015
Retail banking award
[1]The bank won the Best Retail Bank award at the Islamic Business and Finance Awards.
- 2014
Branch automation award
[1]The Asian Banker Awards recognized the bank’s branch automation project as the best branch automation project in the Middle East.
- 2013
Commercial launch
[1]The bank began operating on 30 September 2013 as a full-fledged Islamic bank serving retail and corporate customers in Oman.
- 2012
Establishment under Oman’s Islamic-banking framework
[1]Alizz Islamic Bank SAOC was established after Royal Decree No. 69/2012 amended Oman’s banking law to permit dedicated Islamic banking institutions.
Products and positioning
A domestic Omani full-service bank focused on Sharia-compliant retail and corporate banking, combining branch-based service with online and mobile delivery.
Retail banking · 2013
Retail Islamic banking
Retail services designed around Islamic finance principles for individual customers. The available material identifies retail finance and related banking services as part of the bank’s scope, but does not provide verified names or contractual details for specific products.
Corporate banking · 2013
Corporate Islamic banking
Banking and financing services for corporate customers in Oman, structured around the bank’s Islamic-finance model. The reference material confirms corporate finance but does not enumerate sectors served, facilities offered, or current availability.
Deposits and accounts
Islamic deposit and account services
Deposit-related and account-based services associated with Islamic banking. Specific account types, profit-sharing arrangements, fees, and terms are not documented sufficiently in the supplied sources.
Digital banking · 2013
Digital banking
Online and mobile access channels supporting the bank’s retail and corporate customers. The bank also received recognition for branch automation, suggesting an early strategic focus on technology-enabled service delivery, although detailed platform information is unavailable.
Brand decisions
2013
Launch of retail and corporate Islamic finance servicesProduct launchBackground
The newly established bank entered Oman’s developing Islamic-banking market.
Action taken
Alizz began providing retail and corporate finance through branches, online banking, and mobile devices.
Aftermath
The bank later received recognition for branch automation and retail banking.
2012
Creation of a dedicated Islamic banking institutionStrategyBackground
Oman amended its banking law to allow Islamic banking through specialized banks and other approved structures.
Action taken
Alizz Islamic Bank was established as a full-fledged Islamic bank rather than as a conventional bank’s limited Islamic window.
Aftermath
The institution launched in 2013 and targeted retail and corporate customers in Oman.
Recent events
- 2015
Alizz Islamic Bank named Best Retail Bank[1]
Other
Alizz Islamic Bank won the Best Retail Bank award at the Islamic Business and Finance Awards.
- 2014
Alizz Islamic Bank recognized for branch automation[1]
Other
The bank received the Asian Banker award for Best Branch Automation Project in the Middle East.
- 2013
Alizz Islamic Bank launches as a full-fledged Omani Islamic bank[1]
Product launch
Alizz Islamic Bank began operating on 30 September 2013 as a dedicated Islamic bank in Oman, offering retail and corporate finance through branches and digital channels.
Sources2 sources
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