Muscat: Bank Nizwa, the leading and fastest-growing Islamic Bank has recently been awarded the 'Islamic Bank of the Year' title and 'Best Sustainable Banking Products Innovation' accolade at the Alam Al Iktisaad's Islamic Banking and Finance Summit (IBFS) 2022. Held under the patronage of His Highness Sayyid Fehr Bin Fatik Al Said, His Excellency Tahir Al Amri, Executive President of the Central Bank of Oman, was the Guest of Honour and keynote speaker. Bank Nizwa was the event's Presenting Sponsor, which was organised on the 29th of November at the Crowne Plaza, Qurum. The Bank's continued commitment to achieving growth, progress, and innovation in Oman's Islamic banking and finance sector is reflected in sponsorships like these. 

Khaled Al Kayed, Chief Executive Officer of Bank Nizwa, delivered the inaugural speech, highlighting the global trends in Islamic Finance, its local progress and the next phase of Islamic Finance in Oman. The event comprised interactive presentations on the future of Islamic Banking and Finance and panel discussions involving a cross-section of industry experts from Oman, GCC and other international markets. With a strong understanding of the local market and proven capabilities to lead transformative change in the sector, Bank Nizwa played an active role in these discussions. Salim Al Maharbi, Chief Financial Officer, Bank Nizwa, participated in the 'Future of Islamic Banking and Finance and Islamic Fintech' panel discussion. Mustafa Al Naabi, Shari'ah Training Assistant Manager at Bank Nizwa, delivered a presentation titled 'Shari'ah Guidelines for Digital Banking.'

Commenting on winning the awards, Al Kayed said, "We are honoured that Alam Al Iktisaad's Islamic Banking and Finance Summit has recognised us as the 'Islamic Bank of the Year' and also bestowed us with the 'Best Sustainable Banking Products Innovation' award. Achieving such milestones fuels Bank Nizwa's pursuit of excellence and our commitment to our customers.”

Since its inception, Bank Nizwa has strived to be the preferred financial partner of Oman's people and enterprises. With a commitment to Shari'ah-compliant innovative financial solutions, the Bank aims to provide its customers with a unique banking experience in line with their evolving needs. Bank Nizwa has identified key opportunities, critical areas of improvement and subsequently developed strategic plans that have helped maintain its leadership position over the years. The Bank's conscious and consistent efforts are a testament to its most trusted position in Oman's Islamic banking industry.

Financial stability and economic growth, poverty alleviation and wealth distribution, financial and social inclusion and environmental preservation are all principles shared by Islamic finance. This has allowed Bank Nizwa to capitalise on these similarities to become the suitable medium to propagate the elements of sustainable finance in the Sultanate and align itself with Oman's Vision 2040. Bank Nizwa intends to safeguard financial stability and contribute to the sustainable prosperity of Oman. It is committed to responsible economic growth with minimal environmental impact and an inclusive financial and economic system. The Bank strives to harness technology and innovation to readdress financial services from a sustainability standpoint.

As a premier Shari'ah-compliant Islamic bank in the Sultanate, Bank Nizwa has built a remarkable reputation as the Sultanate's most innovative Islamic Bank by positioning itself as a robust, progressive and customer-centric Islamic banking institution. Furthermore, this year, the Bank received awards for 'Best Bank in Midsize Banks' and 'Excellence in Mobile Banking' at the New Age Banking Summit (NABS) 2022 for its essential role in propelling the Bank to new heights.

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