Latest news with #BankNizwa
Zawya
3 days ago
- Business
- Zawya
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.
Zawya
26-05-2025
- Business
- Zawya
Bank Nizwa signs MoU with ATHAR to strengthen strategic partnership in the health endowment sector
Muscat: In line with its ongoing commitment to supporting sustainable development initiatives with lasting social impact, Bank Nizwa, the leading and most trusted Islamic bank in the Sultanate of Oman, has announced the signing of a Memorandum of Understanding (MoU) with the Health Endowment Foundation (ATHAR). This strategic partnership aims to enhance the role of the health endowment sector in promoting inclusive development, aligned with the national priorities outlined in Oman Vision 2040. The agreement was signed by Mr. Khaled Al Kayed, Chief Executive Officer of Bank Nizwa, and Mr. Ahmad Abdullah Al Khanji, Chairman of the Executive Committee, Board Member of the ATHAR Foundation, in the presence of senior officials from both institutions. The memorandum aims to strengthen institutional cooperation between the two parties, with Bank Nizwa providing logistical and technical support to the ATHAR Foundation in implementing its strategic and operational plans—particularly in the areas of endowment investment and the development of health-related projects with sustainable impact. The collaboration also includes capacity-building initiatives designed to enhance professional competencies, as well as promoting ATHAR's financial services and activities through Bank Nizwa's various communication channels. Under the agreement, ATHAR will maintain its primary banking relationship with Bank Nizwa and recognize the bank as its strategic partner across all relevant media platforms. Commenting on the occasion, Mr. Khaled Al Kayed stated: 'At Bank Nizwa, we firmly believe in leveraging our Islamic banking expertise to support endowment institutions that serve meaningful social objectives, especially in vital sectors like healthcare. This partnership stands as a model for effective integration between Islamic finance and the endowment sector, reinforcing our shared commitment to sustainable development and delivering long-term value to Omani society.' For his part, Mr. Ahmad bin Abdullah Al Khanji emphasized that the MoU represents a strategic step towards developing an integrated health endowment model based on partnership and specialization. He stated, 'We are committed to advancing institutional and professional health endowment services that benefit all segments of Omani society. This partnership with Bank Nizwa will further strengthen our capabilities and expand our positive impact.' The memorandum also provides for the formation of a joint working group to oversee the implementation of mutually agreed programs and projects, and to submit periodic reports to the senior management of both institutions. Additionally, it allows for the signing of separate executive agreements for any future initiatives. This partnership aligns with Bank Nizwa's ongoing efforts to reinforce its position as a leading Islamic financial institution committed to supporting sectors with substantial social and economic impact, by providing innovative, Sharia-compliant financial solutions that embody national sustainability values.
Zawya
25-05-2025
- Business
- Zawya
Bank Nizwa extends strategic financing to Oman's largest integrated copper concentrate project
Muscat: In a significant milestone underscoring its commitment to the nation's diversification goals, Bank Nizwa, the leading and most-trusted Islamic bank in the Sultanate of Oman, has announced its participation in a syndicated financing agreement supporting the development of the Sultanate's largest integrated copper concentrate project, led by Mazoon Mining—a subsidiary of Minerals Development Oman (MDO). Bank Nizwa's contribution of US$ 35 Million, to the total syndicated financing of US$ 270 Mn, reinforces the bank's commitment to support transformative national projects through Sharia-compliant financing. Formalized during the prestigious Rawabit Forum, hosted by the Oman Investment Authority, the agreement underlines the bank's strong confidence in Oman's mining sector as a driver of sustainable growth for the nation and its broader objective in continued promotion of Sharia-compliant investments contributing to Oman Vision 2040. Commenting on the bank's involvement, Mr. Saif Al Rawahi, Acting DGM – Wholesale Banking at Bank Nizwa, stated, 'Our participation in this pivotal financing agreement is a reflection of our strategic intent to be at the forefront of Oman's economic transformation. At Bank Nizwa, we view mining as a vital industry in Oman's diversification agenda, offering scalable investment opportunities with strong value multipliers across the national economy. Our financing of this project illustrates our dedication to providing Islamic banking solutions that facilitate industrial growth while upholding principles of sustainability and transparency. This initiative also underscores our outlook on Oman's emergence as a competitive player in the global minerals market, particularly in sectors propelled by clean energy transition and technological advancement. As a pioneering Islamic financial institution, we continue to structure forward-looking financing solutions that align with national priorities and elevate the nation's position within the global economic landscape." Mazoon Mining's Copper Concentrate Project represents a strategic convergence of resource potential and sustainable innovation. Positioned to support Oman's vision of becoming a regional leader in copper concentrate production, the project addresses growing global demand for copper—an essential component in renewable energy infrastructure and advanced electronics. With sustainability at its core, the initiative features a zero-liquid-discharge system and state-of-the-art waste management technologies, fully aligned with Bank Nizwa's ESG principles and ethical financing mandate. Through this partnership, Bank Nizwa is enabling the development of high-value mining assets that balance global market relevance with local economic and social priorities. The project is also poised to create direct and indirect employment, foster SME participation, and drive broad-based economic growth within the community. Bank Nizwa's participation in this landmark transaction underscores its growing reputation as a trusted partner for transformative, high-impact initiatives across priority sectors. Through its Sharia-compliant contribution to Oman's largest copper concentrate project, the bank is reinforcing a resilient financial structure, one that balances risk, supports industrial expansion, and aligns with long-term national development imperatives.
Trade Arabia
24-05-2025
- Business
- Trade Arabia
Bank Nizwa extends strategic funding to major Oman copper project
Bank Nizwa, a leading Islamic bank in Oman, has announced its participation in a syndicated financing agreement supporting the development of the sultanate's largest integrated copper concentrate project, led by Mazoon Mining - a subsidiary of Minerals Development Oman (MDO). Bank Nizwa's contribution of $35 million, to the total syndicated financing of $270 million, reinforces the bank's commitment to support transformative national projects through sharia-compliant financing. Formalized during the prestigious Rawabit Forum, hosted by the Oman Investment Authority, the agreement underlines the bank's strong confidence in Oman's mining sector as a driver of sustainable growth for the nation and its broader objective in continued promotion of Sharia-compliant investments contributing to Oman Vision 2040. On the bank's involvement, Saif Al Rawahi, the Acting DGM – Wholesale Banking at Bank Nizwa, said: "Our participation in this pivotal financing agreement is a reflection of our strategic intent to be at the forefront of Oman's economic transformation." "At Bank Nizwa, we view mining as a vital industry in Oman's diversification agenda, offering scalable investment opportunities with strong value multipliers across the national economy. Our financing of this project illustrates our dedication to providing Islamic banking solutions that facilitate industrial growth while upholding principles of sustainability and transparency," stated Al Rawahi. "This initiative also underscores our outlook on Oman's emergence as a competitive player in the global minerals market, particularly in sectors propelled by clean energy transition and technological advancement. As a pioneering Islamic financial institution, we continue to structure forward-looking financing solutions that align with national priorities and elevate the nation's position within the global economic landscape," he added. Mazoon Mining's Copper Concentrate Project represents a strategic convergence of resource potential and sustainable innovation. Positioned to support Oman's vision of becoming a regional leader in copper concentrate production, the project addresses growing global demand for copper - an essential component in renewable energy infrastructure and advanced electronics. With sustainability at its core, the initiative features a zero-liquid-discharge system and state-of-the-art waste management technologies, fully aligned with Bank Nizwa's ESG principles and ethical financing mandate. Through this partnership, Bank Nizwa said it is enabling the development of high-value mining assets that balance global market relevance with local economic and social priorities. The project is also poised to create direct and indirect employment, foster SME participation, and drive broad-based economic growth within the community. Bank Nizwa's participation in this landmark transaction underscores its growing reputation as a trusted partner for transformative, high-impact initiatives across priority sectors, said Al Rawahi. Through its sharia-compliant contribution to Oman's largest copper concentrate project, the bank is reinforcing a resilient financial structure, one that balances risk, supports industrial expansion, and aligns with long-term national development imperatives, he added.
Zawya
18-05-2025
- Business
- Zawya
Bank Nizwa, Tawafuq, and the College of Sharia Sciences launch professional diploma program
Muscat: In line with its commitment to advancing the Islamic finance sector, Bank Nizwa, the leading and most trusted Islamic bank in the Sultanate of Oman, continues to play a strategic role in supporting national initiatives that empower Omani talent and contribute to sustainable development. Furthering this vision, Bank Nizwa has announced its support for the Professional Diploma in Waqf Leadership Preparation program, implemented by Tawafuq Islamic Financial Consultancy, in partnership with the College of Sharia Sciences as the knowledge partner, and with Bank Nizwa serving as the key banking partner. This pioneering collaboration reflects a powerful integration between knowledge-based, financial, and community welfare institutions, aimed at preparing a new generation of qualified national leaders in the Waqf sector. The initiative reinforces the sector's vital role in driving economic growth and supporting the goals of Oman Vision 2040. This program is the first professional diploma in the Sultanate specialized in preparing leaders for the Waqf sector. It aims to develop national competencies capable of driving a qualitative transformation in endowment management by shifting from traditional approaches to an integrated institutional model that combines Islamic knowledge with best practices in administration and finance. The program focuses on empowering participants to design sustainable development strategies and establish effective oversight and governance systems, thereby strengthening their readiness to take on leadership roles in the endowment sector at both local and regional levels. In addition, it contributes to enhancing the operational efficiency of endowment institutions, enabling them to better achieve their developmental and social objectives in alignment with national priorities. Commenting on the initiative, Mr. Khaled Al Kayed, Chief Executive Officer at Bank Nizwa, said: 'We are honoured to support this pioneering diploma program, which aims to equip future leaders with the skills and knowledge required to manage endowments effectively and in line with modern institutional standards. Our involvement reflects Bank Nizwa's ongoing collaboration with the Ministry of Endowments and Religious Affairs to help strengthen the foundation of the Waqf sector. We believe that empowering the endowment sector through institutional development is essential to achieving long-term sustainability. At Bank Nizwa, we remain deeply committed to initiatives that elevate sector performance and contribute to the national development agenda, in full alignment with the objectives of Oman Vision 2040.' Dr. Mohammed Omar Al-Khalaf, Executive Director of Tawafuq for Islamic Financial Consultations stated: 'the launch of this program marks a significant milestone in strategic collaboration between Tawafuq, College of Sharia Sciences and Bank Nizwa. This partnership sets the stage for broader cooperation in delivering impactful initiatives in the future. The professional diploma is designed to empower and equip current and aspiring leaders in the endowment sector with the skills and knowledge required to take on senior leadership roles. This initiative also reflects the government's strategic vision, as championed by the Ministry of Endowments and Religious Affairs, to develop and modernize the endowment sector. It aligns with national priorities and the broader Sustainable Development Goals set forth in Oman Vision 2040.' The program spans five weeks as a part-time study track and comprises 100 training hours, integrating in-person lectures, practical applications, and a hands-on graduation project. It is delivered by Dr. Mohammed Fakhri Suwaileh, an international expert in Islamic banking and endowment management. All sessions are conducted at the College of Sharia Sciences in Muscat. The program offers a comprehensive and integrated training experience, covering a wide range of key topics such as the jurisprudential and legal foundations of endowments, contemporary approaches to endowment investment, governance and compliance frameworks, and risk management in the endowment sector. Additional areas of focus include performance measurement for endowment institutions, endowment accounting, and Sharia auditing of endowments and their investments. Moreover, the program emphasizes the development of modern leadership competencies and strategic planning skills, enhancing participants' readiness to take on leadership roles within endowment institutions and empowering them to drive sustainable impact in this vital sector. The program targets a broad and diverse audience, including employees of the Ministry of Endowments and Religious Affairs, leaders and board members of endowment and charitable institutions, and fatwa secretaries and staff from the Office of the Grand Mufti. It also caters to professionals from Islamic banks and financial institutions, as well as academics and researchers specializing in Sharia, endowments, and law. In addition, the program is designed for entrepreneurs and initiators seeking to establish private endowments or develop endowment-based projects, as well as individuals interested in enhancing their capabilities in charitable and social work. Bank Nizwa's support for such initiatives reflects its commitment to advancing the role of Islamic banking in community development by contributing to the growth of the Waqf sector and empowering it to fulfill its role in supporting social initiatives and creating a positive, lasting impact on people's lives.
