Ahli builds Islamic banking portfolio

WINNING STRATEGIES

Ahli builds Islamic banking portfolio

The bank has paired customer growth with digital onboarding, wallet integration and sharia-compliant wealth and SME products to build a broader retail proposition

Retail banking in Oman is being tested by a simple shift in customer expectations. Convenience now has to sit alongside trust, access and product relevance. For Islamic banks, that test is sharper: digital service has to be delivered within sharia governance, while still meeting the everyday needs of individuals, small and medium enterprises (SMEs) and wealth customers.

Ahli Islamic’s win rested on the breadth of that response. The bank did not present a single-product story. It strengthened its retail proposition through upgrades to mobile banking, digital onboarding, card services, wallet integration and personal financial management tools. The aim was to make Islamic banking easier to access across retail and premium segments, while giving customers more control over daily financial activity.

Increased access

The digital work was supported by onboarding links with Oman Credit & Financial Information Centre (Mala’a) and Royal Oman Police verification systems, as well as integration with Apple Pay, Google Pay, Huawei Pay and Android wallets. The bank also widened service availability through 24/7 video banking support using its ahliExpress multifunctional device network.

The proposition extended beyond digital channels. Ahli Islamic introduced sharia-compliant financing structures for business customers, including point-of-sale-based SME financing and products designed around working capital, liquidity and trade finance needs. In wealth and investment, it launched Oman’s first sharia-compliant Islamic Money Market Fund and expanded digital investment access through its digital initial public offering (IPO) platform.

The measurable results gave the case more weight. Ahli Islamic’s customer base rose from 114,000 in 2024 to 139,000 in 2025, while its total financing portfolio increased to $2.2bn from $1.7bn and the sharia-compliant corporate loan portfolio grew to $1.6bn from $1.2bn. Assets under management (AUM) for wealth management reached $245m. The Islamic Money Market Fund exceeded OMR50m ($130m) in AUM within one year and stood at OMR80m, with an annualised return of about 5.1% and net profits of OMR861,417.

Winning proposition

That combination explains why the bank stood out in the Best Retail Bank – Oman category. The strongest retail bank cases are not only about customer acquisition or app functionality. They show how a bank is becoming more useful to customers across life stages and financial needs. Ahli Islamic linked customer growth to channel upgrades, sharia-compliant product development, and a broader wealth and SME offer.

The bank’s current public profile points in the same direction. Ahli Islamic operates through 26 branches across Oman, while its 2025 product direction includes ahlinext, described by Ahli Bank as Oman’s first children’s banking app. The win therefore reflects a retail proposition that is expanding beyond access into lifecycle banking, combining digital service, Islamic finance and customer-segment breadth.