Muscat – Oman Housing Bank celebrated the opening of its new branch in South Al Sharqiyah Governorate in the Wilayat of Sur, under the patronage of His Excellency Dr. Yahya bin Badr Al-Maawali, the Governor of South Al Sharqiyah Governorate, in the presence of some honored members of the State & shura Council representing the Wilayats of South Al Sharqiyah and the Bank’s executive management.

Mr. Arif bin Maqboul Al Zaabi, the General Manager of Business at the Oman Housing Bank, provided a comprehensive overview to His Excellency the Governor regarding the new branch. He emphasized that the new branch replaces the old location to improve services for citizens’ transactional requirements. This initiative is part of the bank’s strategy to leverage the latest digital technologies in line with the banking sector, focusing on optimizing system efficiency, incorporating modern technologies, and streamlining operations. Moreover, the branch aims to enhance customer experience in processing housing finance requests, ensuring satisfaction and inclusivity in accessing housing loans.

The General Manager of the Oman Housing Bank highlighted the bank’s significant impact since its establishment in 1977, enabling over 3,470 Omani families in South Al Sharqiyah Governorate with total financing exceeding 96 million Omani Rials. The bank’s services extend to five Wilayats in South Al Sharqiyah Governorate: Sur, Al Kamil Wal Wafi, Jaalan Bani Bu Hassan, Jaalan Bani Bu Ali, and Masirah, benefiting numerous eligible applicants for supported housing finance.

He also mentioned the recent launch of the Iskan Housing Program by the Bank,  which aims to expedite subsidized housing finance requests for citizens on waiting lists through an effective partnership with various local banks. The program targets around 671 Omani families in the five Wilayats of South Al Sharqiyah Governorate who meet the criteria for subsidized housing loans. The bank aims to lead in housing and urban development, aligning with national development plans and driving development efforts in various governorates of the Sultanate.

Since its establishment, Oman Housing Bank has empowered more than 56,000 Omani families in various governorates of the Sultanate, with financing exceeding 1.5 billion Omani Rials. Currently, the bank aims to reduce the waiting time for citizens on waiting lists through the Iskan Program, which has successfully processed numerous requests since its launch in January. The program also targets around 940 financing requests per month for eligible citizens and plans to build approximately 50,000 housing units over the next five years with housing loans exceeding 1.8 billion Omani Rials. This contributes to the urban development strategy towards sustainable cities and economic diversification.