Latest news with #Innovation
Zawya
38 minutes 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
38 minutes ago
- Business
- Zawya
Sohar International honored with three awards at NABS 2025
Muscat: Reaffirming its stature as a multifaceted banking leader—defined by strong growth, purposeful innovation, and societal impact, Sohar International was honored with three prestigious accolades at the Oman Banking and Finance Awards, held during the landmark 10th edition of the New Age Banking Summit (NABS) 2025: Best Digital Transformation Initiative, Most Innovative CSR Initiative, and Best Bank – Growth. These recognitions underscore the bank's ability to navigate market dynamics while delivering lasting value to stakeholders and contributing to Oman's broader socio-economic ambitions. Held under the patronage of H.E. Ahmed bin Ja'afer Al Musalmi, Governor of the Central Bank of Oman, and hosted by H.E. Shaikh Salim Bin Mustahail Al Mashani, with support from the Oman Banks Association, NABS 2025 brought together top financial leaders, innovators, and policymakers under the theme 'The Future of Banking: Navigating Disruption, Sustainability & Customer- Centric Innovation'. Commenting on the occasion, Mr. Abdulwahid Mohamed Al Murshidi, Chief Executive Officer at Sohar International, stated, 'These awards are a reflection of our collective ethos, one that integrates future-forward thinking with impact-led execution. At Sohar International, we do not pursue innovation as a trend, but as a means to elevate the human experience, foster economic vitality, and create ripple effects that benefit society at large. Whether through breakthrough technologies, performance-driven financial strategy, or inclusive social initiatives, we remain committed to being a bank that keeps pace with evolving landscapes while building a strong future for generations to come.' Revered as the largest conference of its kind in Oman's banking and non-banking financial sector, NABS 2025 convened over 150 C-level delegates and decision-makers from more than 100 banking, fintech, and technology firms. Against this backdrop, Sohar International's accolades reflected its multidimensional strengths and forward-looking approach to banking. The Best Digital Transformation Initiative award recognized the bank's success in deploying intelligent platforms and streamlining operations to offer seamless, customer-centric digital experiences—embedding agility and responsiveness across its ecosystem. This spirit of innovation extended to social impact, earning Sohar International the Most Innovative CSR Initiative award for its 'Every Like Adds Light' campaign. Launched during Ramadan, the initiative transformed every social media interaction into a charitable donation—amassing over 600,000 engagements and mobilizing nationwide goodwill into tangible support for philanthropic causes. Anchoring these achievements was the Best Bank – Growth award, where Sohar International led across all key growth indicators—gross loans, customer deposits, fee income, operating profit, and net worth—within the large-bank category. The winners of this year's Oman Banking and Finance Awards were selected through an extensive survey conducted by OER and United Securities, evaluating banks and NBFCs on key financial metrics from year 2021 to 2024. Key themes explored at the summit included the role of AI and machine learning in enhancing operations and customer engagement, the acceleration of digital transformation, evolving cybersecurity frameworks, open banking and FinTech collaboration, and the growing importance of ESG in shaping sustainable financial strategies. About Sohar International With the vision to become a world-class Omani services company that helps customers, community and people to prosper and grow, Sohar International operates with a purpose to help people 'win' by delivering responsive banking for their ever-changing world, complementing their growth and prosperity with international standard service delivery. The Bank seeks to redefine banking in Oman through transformational developments centred on the principles of More Velocity, making everything simple and fast; More Value, ensuring relevance and connectivity to customers' world; and More Vision, liberating stakeholders through talented leadership.
Zawya
8 hours ago
- Business
- Zawya
TDB Group wins 2025 Bank of the Year at the African Banker Awards
Abidjan – Wednesday night in Abidjan, Côte d'Ivoire, on the margins of the 2025 Annual Meetings of the African Development Bank, prominent players in Africa's banking and financial industry gathered at the distinguished African Banker Awards' Gala Dinner – where several African development finance institutions were celebrated, alongside commercial banks and leading luminaries of the sector. It was with great appreciation and honor that the Trade and Development Bank Group (TDB Group) received the distinction of Africa's Bank of the Year – in recognition of the Bank's focus on inclusiveness, service innovation, customer satisfaction, and contributing to the continent's growth through a stronger financial sector. TDB Group distinguishes itself in the market through its innovative spirit and its ongoing dedication to reform and improvement. This is accomplished through institutional innovation and robust partnerships that enable it to effectively adapt to the context in which it operates. In 2024 in particular, TDB Group continued innovating its capital structure, introducing hybrid capital to continue crowding in more institutional investors in a suitable manner. Thanks to its deep understanding of market dynamics and the needs of its member states, TDB evolved into a Group, positioning itself to broaden its triple bottom-line impact, enhance its sustainability, and extend its reach to additional jurisdictions, more end beneficiaries, including more vulnerable end beneficiairies. The Trade and Development Banking Strategic Business Unit is the Group's development banking arm, which offers bilateral and syndicated short-term trade and long-term project finance which meaningfully contributes to the economic, social and environmental development of member states. Furthermore, through the Trade and Development Fund (TDF), the Group provides concessional financing to improve the terms of the financing to be deployed particularly towards public goods, technical assistance to address upstream challenges, as well as programme management which focuses on women empowerment, youth employment, MSMEs, and sustainable and responsible investments across different sectors. Also, TDB Group's asset management arm focuses on designing, originating, and growing stand-alone investment vehicles for a diverse range of investors and development partners. These vehicles which comprise specialised fund managers, funds and programmes are designed to meet the evolving needs and objectives of its diverse spectrum of stakeholders. TDB Captive Insurance Company (TCI) streamlines risk management across the Group, thus further enhancing its efficiency and sustainability. With TDB Academy, the capacity building arm of the Group, the Bank continues bolstering the capacity of its staff and of its stakeholders via training, seminars, conferences, and other human and institutional capacity development interventions. This boosts TDB Group's own sustainability, and strengthens the capacity of its stakeholders. This accolade highlights how the various pieces of the TDB Group mosaic are crafted and integrated, highlighting the remarkable agility with which these pieces seamlessly unite and synergize in this dynamic environment. About TDB Group Established in 1985, the Trade and Development Bank Group (TDB Group) is an African regional multilateral development bank, with a mandate to finance and foster trade, regional economic integration and sustainable development in Africa. TDB Group counts several subsidiaries and strategic business units including Trade and Development Banking, TDB Asset Management (TAM), the Trade and Development Fund (TDF), TDB Captive Insurance Company (TCI), the ESATAL fund management company and TDB Academy.
Al Bawaba
8 hours ago
- Business
- Al Bawaba
ADU Elevates Innovation at the 12th URIC, MENA's Premier Undergraduate Research Competition
Under the patronage of H.E. Sheikh Nahyan Mubarak Al Nahyan, Minister of Tolerance and Coexistence, Abu Dhabi University (ADU) hosted the 12th edition of the Undergraduate Research and Innovation Competition (URIC) on May 29 at its main campus in Abu Dhabi. For the third consecutive year, the event was sponsored by RTX, demonstrating the company's ongoing commitment to supporting STEM education and fostering innovation in the UAE and beyond. The hybrid annual event brought together exceptional undergraduate talent from around the world to present breakthrough research and creative solutions across 27 academic disciplines, including engineering, business, education, law, and health sciences. This year's competition drew 650 research submissions from approximately 1,300 students representing 105 universities across 14 countries, reaffirming URIC's position as the largest undergraduate research platform in the GCC and MENA region. The event celebrated a diverse range of pioneering projects, including innovations in Artificial Intelligence & Machine Learning, Biomedical Engineering and Clinical Sciences, Cybersecurity, Finance, Fintech, E-commerce, and Digital Marketing, Sustainable and Renewable Energy, highlighting the breadth and depth of innovation led by undergraduate students. Professor Ghassan Aouad, Chancellor of Abu Dhabi University, commented: 'URIC continues to shine a spotlight on the ingenuity and research excellence of our youth. At ADU, we are deeply committed to fostering a culture of discovery that empowers students to drive meaningful change. Through initiatives like URIC, we bridge academia with real-world impact - nurturing young innovators who will shape the UAE's future as a knowledge-based, sustainable economy. RTX's sustained partnership with URIC has been invaluable in providing students with the resources and opportunities to translate their innovative ideas into tangible solutions. Their commitment directly contributes to the development of a skilled workforce ready to tackle future challenges.' He added: 'We are immensely proud of all participating students and grateful to the faculty mentors, judges, and strategic partners who help bring this event to life each year.' Professor Montasir Qasymeh, Associate Provost for Research, Innovation, and Academic Development at Abu Dhabi University, said: 'This year's competition has hosted startup companies and witnessed significant interest from stakeholders, including government agencies, the private sector, and venture capital firms. Students were actively involved in various aspects of innovation and entrepreneurship. This is a significant experience for students, helping them mature to a competitive level by gaining hands-on expertise.' Fahad Al Mheiri, Managing Director of Raytheon Emirates, an RTX business, stated: "We are proud to partner with Abu Dhabi University for the third consecutive year and cultivate the next generation of STEM talent through URIC. By fostering a vibrant ecosystem of innovation and providing opportunities for students to develop advanced solutions through research, we aim to support the UAE's ongoing efforts to diversify the economy and build a thriving, knowledge-based future." In addition to the core research competition, ADU reintroduced the dedicated Innovation Track, open to UAE-based students with high-potential business ideas. Three winning teams were awarded seed funding, mentorship from industry leaders, and access to ADU's incubation hub to support the development of viable, market-ready ventures. Now in its twelfth year, URIC has become a cornerstone of Abu Dhabi University's commitment to championing youth-driven research and entrepreneurship. The competition aligns closely with the UAE's vision to empower emerging talent, foster knowledge creation, and build a more inclusive and sustainable future. In 2024, URIC attracted nearly 600 research submissions spanning 27 disciplines, with participation from 1,400 students representing 78 universities across 16 countries in the MENA region and beyond. Delivered in a hybrid format, the competition continues to grow its global reach while cultivating a vibrant platform for students to innovate, collaborate, and lead. For more information about Abu Dhabi University, please visit:
Qatar Tribune
13 hours ago
- Science
- Qatar Tribune
Two Qatari innovators clinch first place at ITEX in Malaysia
QNA Doha Qatari innovators Amna Issa Al Kuwari and Fatima Issa Al Kuwari clinched first place and the gold medal in the individual category during their participation in the 36th International Invention, Innovation, and Technology Exhibition (ITEX), recently held in Kuala Lumpur, Malaysia. This crowning achievement was the outcome of an innovative concept and rigorous research efforts, culminating in the development of a smart bracelet designed to prevent drowsiness-induced traffic accidents. The device functions by detecting early signs of fatigue and issuing immediate alerts to drivers, thereby bolstering road safety and curbing accident rates. The project aligns squarely with the Sustainable Development Goals (SDGs) and the objectives of Qatar National Vision 2030. The two innovators touted this milestone and affirmed that the win reflects their love for science and development, an organic outcome of their diligent work and the significant support young Qataris receive from the prudent leadership. Both winners highlighted the energized efforts made by the Qatar Scientific Club in providing technological support, which helped advance this innovation throughout the implementation phases, commencing with the idea and culminating in the prototype phase. This smart bracelet has so far received local and international awards, thereby confirming its effectiveness in fostering traffic safety and highlighting the growing creative capabilities of Qatar's young people on the global stage.
