Muscat: A leading Islamic bank that has led transformational change in the sector by spearheading innovative initiatives and playing a key role in advocating Sharia-compliant financing in the country, Bank Nizwa has cemented its position as the preferred Islamic banking partner. Attesting to its pioneering role, the bank recently won two awards on the same day. While the Top Omani Brand Awards 2022 hosted by Alam Al-Iktisaad magazine honoured Bank Nizwa with the title of the ‘Top Omani Brand in Islamic Finance’, the bank’s leadership role in Sustainable Islamic Finance also earned it recognition at the Oman Forum 2022.

The two prestigious events were held at the Majan Ballroom in Al Bustan Palace – A Ritz Carlton Hotel on 30th March 2022. The Top Omani Brand Awards 2022 took place in the evening under the auspices of His Highness Sayyid Fahr bin Fatik Al Said, whereas Oman Forum 2022 was conducted in the morning under the auspices of the Ministry of Higher Education, Research and Innovation with Petroleum Development Oman acting as the Strategic Partner. It also welcomed Her Excellency Dr. Rahma bint Ibrahim Al Mahrouqiyah, Minister of Higher Education, Research and Innovation as chief guest and keynote speaker.

On behalf of the Bank, the Top Omani Brand Awards 2022 received by Syyidah Wisam bint Al Said, Head of Corporate Communication and Marketing at bank Nizwa, while ‘leadership role in Sustainable Islamic Finance’ Awards received by Mr. Khalid Al Barwani, DGM Wholesale Banking.

Commenting on the awards, Mr. Khaled Al Kayed, CEO of Bank Nizwa said, “We are indeed delighted to have received two prestigious awards on the same day. Bank Nizwa’s continuous efforts toward enhancing its product portfolio, embracing digital excellence, and providing a premium banking experience to customers through segmented focus have helped it to keep pace with the evolving demands of the Islamic banking sector. In addition, one of the most significant milestones has been the introduction of sustainable finance to our portfolio. Our efforts towards promoting sustainability through Sharia-compliant financing have been duly recognized in the community, and for that, we are honoured these two prestigious awards. As a bank that is dedicated to the long-term socio-economic growth of the country, we will continue our relentless efforts toward accelerating the growth of Islamic finance in the region and setting new benchmarks along our journey.”

The Top Omani Brand Awards 2022 applauded Bank Nizwa’s outstanding contribution to the Islamic finance industry. While innovation has been intrinsic to the bank’s progress, Bank Nizwa has also paid keen attention to re-engineering its processes, developing its personnel, and leveraging its market knowledge to launch new business models. Its efforts towards becoming a digitally driven bank have also helped it to elevate its customer experience while encouraging digitalisation within the community as well. As a bank that is dedicated to sustainable growth, it also places a great degree of importance on supporting SMEs that are key drivers of economic progress while also focusing on expanding its Sharia-compliant solutions to mid and large corporations that are involved in key national projects.

Keeping abreast with the latest trends in the global banking realm, Bank Nizwa’s focus on sustainability is in close alignment with the national goals outlined in Oman Vision 2040 and the country’s vision to promote a green and circular economy. The recognition at Oman Forum 2022 honoured Bank Nizwa’s revolutionary role in introducing sustainable finance to the local market. By implementing credible, transparent, and innovative sustainable finance solutions, Bank Nizwa has been playing an instrumental role in supporting companies to integrate ESG criteria into their businesses, financing activities that support the UN Sustainable Development Goals (SDG), and encouraging customers to invest in practices that reduce energy emissions.

Focused on developing a sustainability strategy roadmap, Bank Nizwa also acknowledges the fundamental role played by its human capital and has, therefore, taken innumerable efforts to ensure the well-being of its employees while concentrating on their continuous skill development. With Islamic finance sharing similar underlying principles with sustainable finance, the bank has been able to capitalize on these similarities to further propagate the elements of sustainable finance in the Sultanate of Oman.

Bank Nizwa’s accolades reaffirm the bank’s position as a leading Islamic bank that is progressive, innovative, and has the long-term sustainable benefits of the country.

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