Oman launches Iskan Programme for simplified housing finance
Published: 07:01 AM,Jan 08,2024 | EDITED : 02:01 PM,Jan 08,2024
Photo: Hussein Al Muqbali
Muscat: In line with the Royal Directives of His Majesty Sultan Haitham bin Tarik to accelerate the provision of subsidized housing finance for individuals, the Oman Housing Bank (OHB) launched on Monday the Iskan Programme, at Al Bustan Palace Hotel.
During the inaugural ceremony, Mr. Moosa bin Masoud Al Jadidi, CEO of OHB, emphasised that the initiative is aimed at reducing the lengthy waiting times for eligible citizens on the waiting lists of both the Bank and the Ministry of Housing & Urban Planning.
The programme will speed up the distribution of housing finance through the dedicated electronic platform 'Iskan'. This platform allows citizens to submit their data and documents, know their turns, and choose their preferred bank for securing housing finance, in line with the criteria set by Oman Housing Bank. Additionally, it outlines the eligibility criteria, the targeted income groups, and the fees individuals must pay for the interest rate.
OHB uploads the lists of eligible citizens to the 'Iskan' electronic platform according to priority. As their turn nears, individuals receive an SMS alert with a direct link to the application process on the platform. This enables them to complete all necessary steps to obtain housing finance, including application submission, data entry, financial access, and evaluation of the whole process.
Meanwhile, the Bank has already signed agreements with various local banks to finance housing applications, covering both conventional and Islamic banking services.
On the platform, any citizen can find comprehensive details about housing finance options. The 'Iskan' Programme, acting as a comprehensive umbrella, addresses the requirements of citizens eligible for housing finance through a thoughtful approach that ensures accessibility and inclusiveness.
During the inaugural ceremony, Mr. Moosa bin Masoud Al Jadidi, CEO of OHB, emphasised that the initiative is aimed at reducing the lengthy waiting times for eligible citizens on the waiting lists of both the Bank and the Ministry of Housing & Urban Planning.
The programme will speed up the distribution of housing finance through the dedicated electronic platform 'Iskan'. This platform allows citizens to submit their data and documents, know their turns, and choose their preferred bank for securing housing finance, in line with the criteria set by Oman Housing Bank. Additionally, it outlines the eligibility criteria, the targeted income groups, and the fees individuals must pay for the interest rate.
OHB uploads the lists of eligible citizens to the 'Iskan' electronic platform according to priority. As their turn nears, individuals receive an SMS alert with a direct link to the application process on the platform. This enables them to complete all necessary steps to obtain housing finance, including application submission, data entry, financial access, and evaluation of the whole process.
Meanwhile, the Bank has already signed agreements with various local banks to finance housing applications, covering both conventional and Islamic banking services.
On the platform, any citizen can find comprehensive details about housing finance options. The 'Iskan' Programme, acting as a comprehensive umbrella, addresses the requirements of citizens eligible for housing finance through a thoughtful approach that ensures accessibility and inclusiveness.