We’ve compiled answers to some of the most common questions about Tayseer Finance and our services. If you don’t find your question here, feel free to contact us directly.
Tayseer Finance is Oman’s first Islamic digital microfinance company, offering Sharia-compliant financing solutions to individuals and businesses. Our goal is to support local economic growth and promote financial inclusion through ethical finance.
We provide two main products:
- Consumer Finance: Sharia-compliant financing for your personal purchases like home furniture and appliances, electronics, education and medical treatment and more.
- Business Finance: Tailored financial solutions for Micro, Small and Medium businesses (MSMEs) to help you grow your businesses by funding your purchases from your suppliers and by providing you with working capital and other business needs.
Taysser offers Shariah compliant finance solutions for small amounts to help individuals and businesses to fund their purchases. Taysser will not be able to finance large amounts like car finance or home finance.
All our products are based on the well-known Islamic financial principles such as Murabaha (cost-plus financing), Ijara (leasing), Mudarabah (silent partnership), and Wakala (agency) and others. These structures ensure that our transactions are interest-free and compliant with Shariah. We also follow the Shariah rulings of the High Shariah Supervisory Authority of the Central Bank of Oman and the Shariah standards of the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI).
When you want to purchase an item through Tayseer, we will go and buy that item from the supplier/retailer and then sell it to you or lease it to you and allow you to pay in instalments. All our contracts are Shariah compliant and the payment you make under it profit. While in conventional banking your will get a loan from the bank/finance company and you will need to pay back the loan and the interest charged on the loan.
For individuals: you can finance your furniture, electronics, home items, your kids schools fees and university fees, your medical treatment cost and many other items.
For businesses: you can finance the purchases from your suppliers and obtain funding against the invoices you issued to your buyers.
You can apply for financing through our digital partners like IFIN, Cassbana or Pay Day. If you are applying for consumer finance, simply visit one of our retailer's stores and apply directly from the store. The process is quick, easy, and transparent.
However, if you are business, you need to contact us first for us to understand your need and then we will see what is the best way to help you.
For individuals: you need to be an Omani or a resident in Oman, in full employment, can afford to pay the finance and have good credit history.
For business: you need to be a registered business with a valid CR and operating for at least 6 months with good cash flow and a good credit history. More specific requirements may apply depending on the financing amount and product. Please contact us so we can understand your needs and provide you with the right solution.
The approval process is typically quick, if you are looking for consumer finance, an initial decision can be made within 20 seconds of submitting your application. However, for businesses, the decision might take up to 48 hours after submitting your application with all the required documents. Having said that, if your application for business finance is approved and a limit is allocated to you, the finance transactions after that will be approved and completed instantly.
In some cases, your application will be referred to a credit officer to look at your application. This means that there are some additional information that we need. We will call you to let you know what we need from you to complete processing your application.
We offer flexible repayment plans tailored to your needs. For consumer financing, you can choose a plan that fits your budget from 3 months up to 36 months, while for MSMEs, the terms can be adjusted according to your business cash flow and can be from 15 days up to 36 months.
No, our pricing is fully transparent. We disclose our fees and the profit margin upfront, and there are no hidden fees or interest charges. You only pay the agreed-upon fees and profit margin on the financing.
You can make payments to pay your finance either directly to our bank account from your online banking or to deposit it directly in our bank account, or through Direct Debit, or by using your debt or credit card or by requesting cash collection. Please note that there will be additional charges if you choose to pay using debit or credit cards, or if you request cash collection.
If you anticipate difficulties with your payments, please contact us immediately. We strive to work with our clients to find cooperative solutions, and in line with Islamic principles, we aim to avoid punitive measures.
If you know longer wants the goods / services your purchased and financed through Taysser, you maybe able to return the goods and service to the supplier / retailer. Please contact your supplier/retailer to understand their terms and conditions to return the goods/services. If your supplier/retailer agrees to return your purchased items, they will need to contact us and we will cancel your finance.
Please note that, that if your finance is canceled, we will not be able to refund any charges paid at the time of application as these charges are nonrefundable.
Tayseer makes payment to its retailers and suppliers on a daily basis. We will do our best to make the payments within 48 hours of completing the transaction.
Taysser Finance is a digital microfinance company. This means that we do not have physical branches. You can always contact us using the form on our website.
Yes, we offer tailored financing solutions for startups and small businesses under our MSME Finance product. Depending on your need and whether it fits within one of our products, we might be able to help you grow your business.
We partner with IFIN, Cassbana and Pay Day to offer seamless, digital access to Sharia-compliant financing. You can apply for financing directly through their platforms, which simplifies the process and ensures quick approvals.
Tayseer takes the security of its clients’ data very seriously and we put all our efforts to keep your data safe and secure. We comply with the central banks requirements and the data protection laws applicable in Oman.
You can reach us via email or by filling the form on our Contact Us .
If you have any further questions, don’t hesitate to get in touch. We’re here to help!