Ali has completed his doctorate in Business Management and joined the Ministry of Commerce as Manager and is earning a salary of OMR 1800 per month. He has got recently married and is now planning to build a house in Amerat. Ali has got a quote from a consultancy firm for the building the house for OMR 85,000. He could manage to arrange OMR 30,000 through his savings and other sources, however, he is looking for a suitable source of finance for the balance amount to build his house. He is aware of the various housing loan schemes available in Oman, but he is keen to avail of the loan from Oman Housing Bank. Ali has approached you for some information and guidance on the most suitable option to raise the needed finance for building this house. You are required to support Ali with more information on the following: a) Why Oman Housing Bank is more suitable for Ali's financing needs? How is this bank different from other commercial banks in its operations? b) What is the maximum amount Ali can get from Oman Housing Bank and how much maximum time will he get to repay this loan? What will be the rate of interest per annum? c) Does Ali need a guarantor for this loan? What are the other conditions set by the bank for granting this loan to Ali? Ali has completed his doctorate in Business Management and joined the Ministry of Commerce as Manager and is earning a salary of OMR 1800 per month. He has got recently married and is now planning to build a house in Amerat. Ali has got a quote from a consultancy firm for the building the house for OMR 85,000. He could manage to arrange OMR 30,000 through his savings and other sources, however, he is looking for a suitable source of finance for the balance amount to build his house. He is aware of the various housing loan schemes available in Oman, but he is keen to avail of the loan from Oman Housing Bank. Ali has approached you for some information and guidance on the most suitable option to raise the needed finance for building this house. You are required to support Ali with more information on the following: a) Why Oman Housing Bank is more suitable for Ali's financing needs? How is this bank different from other commercial banks in its operations? b) What is the maximum amount Ali can get from Oman Housing Bank and how much maximum time will he get to repay this loan? What will be the rate of interest per annum? c) Does Ali need a guarantor for this loan? What are the other conditions set by the bank for granting this loan to Ali