Muscat: Cementing its position as a pioneering thought leader in Oman’s Islamic finance landscape, Bank Nizwa recently participated as the Lead Partner in the 8th annual IFN Forum, held by the acclaimed Islamic Finance Magazine. The forum highlighted Bank Nizwa’s enlightening stance on a number of noteworthy subjects associated with the Islamic Banking sector.

The IFN Forum 2023 brought together the brightest minds in the Islamic finance space to discuss pivotal developments and the ethical impact of Sharia compliant banking practices. Attended by key dignitaries, industry experts and potential investors, the forum witnessed prominent participation of Bank Nizwa’s executive management in panel discussions that shed light on building momentum with innovative Islamic banking services and driving the development of Sharia compliant investment and asset management.

Reflecting on the illuminating discussions at the IFN Forum, Mr. Khalid Al Kayed, CEO, Bank Nizwa, said, “As the Sultanate’s most trusted Islamic bank, Bank Nizwa is dedicated to raising awareness about best Islamic banking practices, and partnering with the IFN Forum was in line with this objective. The forum gave us and our peers a platform to engage in insightful discussions, and collaborate to ensure the Islamic Banking sector continues to flourish. It gave us the opportunity to recognise gaps in available Islamic banking services in the market and helped us visualise a bright future for Sharia compliant banking with our customers at the center.”

As Lead Partner at the forum, Bank Nizwa reaffirmed its position as an irreplaceable part of the Islamic Banking landscape in Oman and the Middle East. Actively engaging in insightful conversations, Bank Nizwa’s CEO Mr. Khalid Al Kayed was a key panelist at the ‘Omani Islamic Financial Services: A Successful Strategy for Building Momentum’ discussion, where the progress of the Islamic finance sector, market developments and regulatory framework were deliberated upon. The bank’s top personnel including Mr. Salman Kabani, head of enterprise Risk and strategy; and Mr. Mohamad Noranuar Sajari, Head of Shariah Structuring, also participated in thought-provoking sessions that reinforced the significance of ethical and sustainable banking practices in the modern world and highlighted the growth potential of the Islamic finance industry.

Recognizing the bank’s remarkable contribution to Oman’s Islamic banking industry, Bank Nizwa was honoured with the ‘Best Islamic Bank in Oman Award’ at the forum. Additionally, the bank was awarded the premier title in the ‘Best Banks Poll 2022’, and named ‘Best Retail Bank in Oman’ and ‘Most Innovative Bank in Oman’. Furthermore, the ‘Oman Deal of the Year’ was awarded to the syndicated Wakalah for Towell infrastructure project with Bank Nizwa as a major investor. These accolades are a testament to Bank Nizwa’s remarkable contribution to the Islamic banking industry in the Sultanate and applaud the Bank’s unwavering pursuit of offering its customers a suite of modern banking solutions that are fully Sharia compliant.

Bank Nizwa’s partnership with the IFN Forum has further reaffirmed its primacy as a preeminent thought-leader in the region’s Islamic finance sector. Through such collaborations, the Bank actively pursues avenues to educate and raise awareness about ethical Islamic banking best practices with the mission to aid in the community’s welfare and contribute to the Sultanate’s economic growth. Bank Nizwa continues to blaze the course as the leading Islamic Bank in the country through a host of initiatives and engagements that drive change, development and innovation in the competitive banking landscape.