MUSCAT : As part of its continued commitment to supporting national priorities and enhancing the social and economic well‑being of Omani citizens, Bank Muscat has announced a strategic partnership with Oman Housing Bank to provide accessible housing finance solutions under the “Iskan” programme.

Building on its leading position in the banking sector, Bank Muscat has continued to play an active role in supporting citizens’ housing needs through a range of financing initiatives designed to facilitate home ownership in a more structured and sustainable manner. The bank’s approach combines prudent credit practices with customer‑centric banking solutions, ensuring a balance between responsible financing and meeting the evolving needs of the community.

This partnership reflects the shared vision of Bank Muscat and Oman Housing Bank to enhance access to housing, support government efforts to improve quality of life, and contribute to the objectives of Oman Vision 2040, particularly those related to inclusive growth and the development of sustainable communities.

The agreement was signed by Ahmed bin Faqir Al Bulushi, Deputy Chief Executive Officer –Banking at Bank Muscat, and Moosa bin Masoud Al Jadidi, Chief Executive Officer of Oman Housing Bank, at OHB’s headquarters.

Under this initiative, Bank Muscat will provide housing finance to eligible beneficiaries enrolled in the Iskan programme who choose Bank Muscat to complete their financing procedures. This partnership enables a wider segment of citizens on waiting lists to realize their aspiration of home ownership. The programme offers financing of up to RO 80,000 for housing projects within integrated Cites and up to RO 60,000 for other housing projects, with flexible repayment tenures of up to 25 years, in line with the bank’s approved credit policies.

Eligible citizens can utilize the Iskan digital platform to complete the registration process. Oman Housing Bank will upload beneficiary lists based on defined priorities and notify eligible individuals via SMS when their turn approaches, providing a direct link that allows applicants to seamlessly proceed with their housing finance application.

Commenting on the partnership, Ahmed Faqir Al Bulushi, Deputy Chief Executive Officer – Banking at Bank Muscat, said: “We are pleased to collaborate with Oman Housing Bank in delivering housing finance solutions under the Iskan program, which represents one of the key national initiatives to support citizens in achieving home ownership. At Bank Muscat, we remain focused on providing impactful financial solutions that contribute to social stability and long‑term economic development. This partnership embodies our commitment to supporting government initiatives and expanding access to housing finance through flexible and responsible lending solutions.”

For his part, Moosa Al Jadidi, Chief Executive Officer of Oman Housing Bank, stated that the partnership marks an important step in expanding the reach and enhancing the efficiency of the Iskan programme. He explained that leveraging Bank Muscat’s financing capabilities alongside Oman Housing Bank’s beneficiary selection framework will help provide a smoother and more accessible pathway for eligible citizens to own homes. “The Iskan programme aims to facilitate access to subsidized housing finance for citizens registered on the waiting lists of Oman Housing Bank and the Ministry of Housing and Urban Planning, through various local banks operating in the Sultanate under the same terms applied by OHB. The Iskan platform serves as an integrated digital system through which citizens can submit required data and documents, track their position on the waiting list, and select the bank from which they wish to obtain subsidized housing finance, in accordance with Oman Housing Bank’s eligibility criteria.”

This initiative underscores Bank Muscat’s pivotal role as a key partner in supporting national development priorities through impactful financial solutions. The bank will continue to strengthen its collaboration with government and private sector entities, while further enhancing its products and digital services to support sustainable growth and improve the overall quality of life in the Sultanate of Oman.