Bank Nizwa honored as Islamic Bank of the Year and Best Mid-size Bank at New Age Banking Summit
1 June, Muscat: Demonstrating its relentless pursuit of excellence, Bank Nizwa, the leading and most trusted Islamic bank in the Sultanate of Oman, secured two prestigious accolades at the 10th Edition of the New Age Banking Summit – 'Best Islamic Digital Bank in Oman' and 'Best Bank – Mid-size Banks Category'. The distinguished event, themed 'Banking Beyond Boundaries: Redefining Innovation and Sustainability,' was held under the auspices of His Excellency Ahmed Al Musalmi, Governor, Central Bank of Oman. Drawing an elite assembly of senior banking executives, industry experts, influential policymakers, and fintech specialists, the summit provided an exclusive platform characterized by high-caliber discussions and premium networking opportunities. The awards were received by Mr. Mujahid Al Zadjali, GM - IT at Bank Nizwa on behalf of the bank.
Mr. Mujahid Al Zadjali, engaged in an insightful panel discussion titled 'The Future of Banking: Navigating Disruption, Sustainability & Customer-Centric Innovation' that explored strategic avenues around fintech integration, digital transformation, open banking frameworks, advanced payment solutions enabling real-time, cross-border, multi-currency transactions, and the deployment of advanced technologies such as blockchain and AI.
Highlighting the significance of the bank's participation and achievements, Mr. Mujahid Al Zadjali, remarked, 'Consistent participation in esteemed thought leadership forums such as the New Age Banking Summit reflects Bank Nizwa's enduring commitment to shaping the future of banking through purposeful dialogue and forward-looking insight. By contributing to high-level panel discussions, the bank continues to play a vital role in driving conversations that matter—those that define progress, resilience, and a future-ready financial ecosystem in Oman. The prestigious awards, meanwhile, serve as a powerful affirmation of our strategic clarity and the trust and credibility we have built over the years.'
As the largest conference of its kind for the banking and non-banking financial sector in Oman, the event brought together technology companies—underscoring its significance, influence, and scale. Within this dynamic setting, Bank Nizwa underscored its strategic commitment to harnessing innovation as a catalyst for elevating customer experience and operational efficiency. The bank advocates for aligning technological advancements with sustainable and customer-centric banking practices, viewing digital transformation as integral to its strategic growth. Moreover, the bank stressed the importance of collaborative ecosystems, advocating closer partnerships among financial institutions, regulators, and technology providers.
The recognition received at the New Age Banking Summit further cements Bank Nizwa's status as a leading force within Oman's Islamic banking sector. These awards not only underscore the bank's strategic prowess and agility but also reinforce its dedication to driving meaningful innovation and fostering a resilient, sustainable financial landscape in the Sultanate.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
10 hours ago
- Zawya
Under the patronage of the Ministry of Planning, Economic Development, and International Cooperation and the Dutch Embassy, 100 Startups Graduated from the 'Orange Corners' Program from the 2025 Delta Cohort
The 'Orange Corners Egypt' program announced the graduation of 100 startups in the first cohort of the 2025 program in the Delta region, during a ceremony held under the patronage of H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, and H.E. Ambassador Peter Mollema, Ambassador of the Netherlands in Cairo, at the Dutch Embassy in Cairo, in partnership with a number of private sector companies. This comes within the framework of promoting the concept of innovation and entrepreneurship among Egyptian youth. The ceremony was attended by a distinguished group of government representatives, development partners, and private sector leaders. In this context, H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, noted that empowering entrepreneurs by promoting innovation and creating new job opportunities is one of the main pillars of Egypt's economic development model, which is based on increasing private sector participation in development. The graduation of 100 startups within the Orange Corners program, is a real example of how international cooperation and private sector partnerships can create opportunities at the local level and contribute to inclusive growth in vital sectors such as agritech, education, and climate smart solutions. Among the graduating startups in the program's first cohort, 52 are led by women, reflecting the program's strong commitment to women's empowerment and inclusive economic growth. The program ensures that women constitute over 50% of total participants, in affirmation of its belief in the importance of integrating women into the economic development process and enabling them to build prosperous professional futures. This specific cohort was characterized by its focus on vital sectors that affect the future of the national economy, including smart agriculture, innovation in the food industry, sustainable technological solutions, green entrepreneurship, education, health, and creative industries. The program is a comprehensive platform that supports young entrepreneurs by providing specialized business development training, career guidance and mentorship, access to networks and investment opportunities, and the necessary support to establish viable and sustainable businesses. It is expected that the program will support around 130 startups during 2025, including 100 companies in the Delta region across the governorates of Alexandria, Beheira, Kafr El-Sheikh, Dakahlia, and Menoufia, in addition to 30 companies in Upper Egypt in the governorates of Assiut and Luxor. Each graduating project is estimated to create between two to five new jobs, which means the program has the potential to create more than 3,000 direct and indirect jobs. It is worth noting that the 'Orange Corners' program was launched in 2021 as part of a global initiative by the Kingdom of the Netherlands, and is implemented locally by Outreach Egypt Foundation, with the support of key partners at Al Qatta. The program aims to empower young people between the ages of 18 and 35 in marginalized areas and turn their ideas into innovative, scalable projects, in line with Egypt's Vision 2030 and five key UN Sustainable Development Goals (SDGs 4, 5, 8, 9, and 13). The program contributes directly to supporting inclusive growth, entrenching a culture of innovation, and promoting the principle of sustainability, based on a firm belief that youth are the key drivers of Egypt's future. Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation - Egypt.
Zawya
10 hours ago
- Zawya
QIB Named Islamic Bank of the Year in the Middle East by The Banker
Doha, Qatar: Qatar Islamic Bank (QIB), Qatar's leading digital bank, has been named Islamic Bank of the Year in the Middle East by The Banker (Financial Times Group) at The Islamic Banking Awards 2025. The recognition reflects QIB's leadership in Islamic finance, its continued investment in innovation, and its focus on delivering secure, Shari'a-compliant financial solutions across the region. The award comes as QIB continues to strengthen its position as one of the most efficient and digitally advanced Islamic banks in the region. In the first quarter of 2025, QIB reported a net profit of QAR 985 million, a 3.1% increase over the same period last year. Total assets grew to QAR 212 billion, while the Bank maintained a cost-to-income ratio of 16.6%, the best in the Qatari banking sector. QIB also continued to demonstrate prudent risk management, with a non-performing financing assets ratio of 1.76% and a financing-to-deposit ratio well within regulatory limits. QIB's financial strength continues to be recognized by international rating agencies. In 2024, Fitch Ratings affirmed QIB's rating at 'A' with a stable outlook, Moody's affirmed the Bank's long-term deposit ratings at 'A1' with a stable outlook, and Capital Intelligence Ratings affirmed the Bank's long-term rating at 'AA-' with a stable outlook. Over the past years, the Bank introduced several first-to-market innovations that have simplified banking for customers. Key milestones include real-time digital onboarding for new customers, and instant personal financing through the QIB Mobile App, which is now offering over 300 features and a refined user experience. The Bank has introduced new innovations beyond banking including the QIB Marketplace providing a diverse range of products and including a section for local SMEs to display & sell products. QIB has also introduced the first Auto Marketplace in Qatar, also within its mobile app, enabling customers to browse, book a test drive, select and finance vehicles online. With a focus on digital transformation, financial inclusion, and sustainable growth, the Bank continues to drive innovation, offer modern banking solutions, and support Qatar National Vision 2030 for a dynamic, diversified economy. Furthermore, QIB has been continuously outperforming the market and delivering continuous value to its shareholders. Commenting on the recognition, Mr. Bassel Gamal, QIB Group CEO, said: 'We are pleased to be named Islamic Bank of the Year in the Middle East by The Banker. On this occasion, I would like to extend my appreciation to QIB's Board of Directors, the entire QIB team and our customers for their trust and support. This award reflects the success of our strategy and our commitment to innovation. We continue to focus on delivering responsible, Shari'a-compliant financial services that create value for our customers, our shareholders and support Qatar's economic development.' The Banker Islamic Banking Awards are among the industry's most respected recognitions, celebrating institutions that deliver innovation, performance, and excellence in Shari'a-compliant financial services.
Economy ME
11 hours ago
- Economy ME
Oman's industrial exports surge 8.6 percent to $4.2 billion in Q1 2025 on electrical equipment manufacturing
Oman's industrial exports witnessed a remarkable 8.6 percent increase during the first quarter of 2025, reaching OMR1.618 billion ($4.2 billion), in comparison to OMR1.490 billion ($3.9 billion) during the same timeframe in 2024, according to recent data released by the National Centre for Statistics and Information . Industrial exports constituted 28 percent of Oman's total exports, highlighting the increasing contribution of the industrial sector to the national economy and the country's efforts toward economic diversification. This growth was propelled by strong performances across various industrial sectors, particularly the electrical equipment and machinery manufacturing sector, which recorded an outstanding growth rate of 141 percent, with its exports surging to OMR128 million compared to OMR53 million in Q1 2024. The metal products sector followed closely, posting a 14.1 percent rise in exports, reaching OMR462 million, driven by the growing international demand for high-quality Omani products. Enhancing competitiveness of Omani products Eng. Khaled Salim Al Qasabi, director general of Industry at the Ministry of Commerce, Industry, and Investment Promotion, remarked that these favorable outcomes reflect the robustness and diversity of Oman's industrial sector. He stressed the ministry's ongoing implementation of integrated industrial policies designed to enhance the competitiveness of Omani products in both regional and global markets while bolstering industrial exports. In statements to Oman News Agency (ONA), he noted that the electrical equipment and machinery sector is witnessing rapid growth due to escalating local and regional demand, fueled by infrastructure expansion projects—especially in electricity networks, utilities, and new cities—alongside increasing investments in renewable energy-related industries. He affirmed that this sector is prioritized under Oman's Industrial Strategy 2040, given its significance in developing supply chains, enhancing value-added economic activities, supporting entrepreneurship, and localizing advanced technologies. Read more: Oman posts $6.7 billion trade surplus, merchandise exports reach $16.88 billion by end of March 2024 Boosting product quality and efficiency In turn, Eng. Jassim Saif Al Jedidi, technical director at the Ministry of Commerce, Industry, and Investment Promotion, underscored ongoing efforts to bolster the presence of Omani products in regional and global markets—a central objective of the industrial strategy and a cornerstone of economic diversification under Oman Vision 2040. Speaking to ONA, he elaborated that these initiatives encompass qualitative efforts to improve the efficiency and quality of national products by aiding local manufacturers in complying with the highest technical standards and international certifications. This not only enhances competitiveness but also boosts consumer confidence in Omani products. He added that the ministry, in collaboration with relevant entities, is striving to open new markets for Omani exports by activating regional and international trade agreements, participating in trade exhibitions and missions, and providing incentives and facilities for Omani exporters. Furthermore, the ministry is promoting knowledge-based and advanced technology industries, including artificial intelligence and Fourth Industrial Revolution technologies, which are pivotal in enhancing product quality, minimizing costs, and achieving sustainable industrial growth. These initiatives contribute to fortifying the national economy, creating quality job opportunities for Omani talent, and positioning Oman as an emerging industrial and logistics hub in the region.
