Noor
Islamic Bank and Morison Menon Chartered Accountants (MMCA) have
entered into a marketing and customer service agreement. Under the
deal, Noor Islamic Bank will offer financial products and services at
preferred rates to Morison Menon Groups clients.
The group
will also recommend clients to consider Noor Islamic Bank as their
banking partner. The alliance is part of a series of customer-driven
initiatives introduced by the bank as part of its value proposition for
commercial and small and medium enterprise (SME) customers. Hussain Al
Qemzi, Group CEO, Noor Islamic Bank, said: “Through strategic
alliances, we continuously work towards providing our customers with
greater convenience and access to specialized services. As a
Shariah-compliant bank, we have adopted a holistic approach to offer
investment and financial solutions for all customer segments. Our
agreement with Morison will complement this strategy. ” The
reciprocal partnership between Noor Islamic Bank and Morison Menon
Group will cover three main areas – consulting, financing and
management systems. Providing SMEs with rapid access to enhanced
services, the alliance will provide a greater competitive edge and
increased capacity for growth and expansion, said a
statement.
“Noor Islamic Bank can look upon us
as a one-stop solution for evaluating any financing requirements that
are put forth to them by their customers and our clients,” said MMCA
Managing Partner Raju Menon. Potential Noor Islamic Bank SME customers
will have access to consultancy services offered by Morison Menon
Group, including profiling and rating exercises, which are currently
being undertaken in conjunction with government departments and
agencies. The alliance will work together to finance real
estate and other projects, with the consultancy conducting the market
research and feasibility analysis, structuring financing requirements
for the project and conducting due diligence of the project and its
promoters.
