Latest news with #Tawafuq
Zawya
26-07-2025
- Business
- Zawya
The Professional Diploma Program in Endowment Leadership celebrates the graduation of its first cohort
Muscat: In a groundbreaking initiative to advance the future strategic vision for leading and developing the Waqf sector and establishing a comprehensive, sustainable Islamic financial model, the Professional Diploma in Waqf Leadership proudly celebrated the graduation of its inaugural cohort. This milestone marks the fruition of a strategic alliance between Bank Nizwa, Tawafuq Financial Consultancy, and the College of Sharia Sciences, dedicated to cultivating national human capital specialized in Waqf leadership. The graduation ceremony was held under the esteemed patronage of His Excellency Dr. Mohammed bin Said bin Khalfan Al Maamari, Minister of Endowments and Religious Affairs, and attended by senior officials, distinguished leaders from the Waqf and banking sectors, and representatives from the partnering institutions. Since its launch earlier this year, the Professional Diploma has underscored the critical importance of harmonizing rigorous academic research with specialized practical application in the endowment sector. Its mission is to equip a new generation of leaders with the expertise and vision required to spearhead this pivotal sector. Developed through a robust strategic partnership—Bank Nizwa serving as the banking partner, Tawafuq as the executive partner specializing in Islamic financial consultancy, and the College of Sharia Sciences as the knowledge partner—the program delivers a comprehensive, tailored educational experience meticulously designed to address the unique characteristics and operational demands of the Waqf sector. Under the expert guidance of Dr. Mohammed Fakhri Suwaileh, Islamic Banking and Endowments Advisor and Sr. Manger of Waqf Investment at Bank Nizwa, participants engaged in an intensive curriculum covering Islamic jurisprudence, legal frameworks, corporate governance, risk management, regulatory compliance, performance metrics, contemporary Waqf investment strategies, internal and Sharia audit, and Waqf accounting. By embracing an innovative pedagogical approach that transcends conventional methodologies, the diploma program has solidified a management paradigm focused on maximizing the developmental and investment impact of endowments. Graduates have been empowered with the essential tools, insights, and competencies to elevate operational efficiency, uphold transparency standards, and ensure the long-term sustainability of the sector. Reflecting on the occasion, Mr. Khaled Al Kayed, Chief Executive Officer of Bank Nizwa, stated, 'This milestone underscores our firm commitment to partnering with like-minded institutions that share our vision of advancing Islamic finance through the development of highly skilled and specialized professionals. Initiatives of this nature are essential in cultivating individuals with a profound understanding of Waqf systems, alongside the analytical and managerial competencies needed to thrive in today's evolving institutional landscape. This program embodies our belief in structured, purposeful learning as a catalyst for sustainable transformation and meaningful impact within the sector. We are proud to have partnered with Tawafuq and the College of Sharia Sciences in empowering the first cohort of graduates from the Waqf Leadership Diploma Program, and we look forward to its continued growth and success in shaping influential leaders who will drive progress across the Waqf sector.' The graduating batch comprised professionals from a broad spectrum of institutions, including representatives from the Ministry of Endowments and Religious Affairs, endowment organizations, Islamic banks, and academic and legal fields. This diversity of professional backgrounds significantly enriched the learning experience and fostered a culture of engagement and knowledge-sharing — reflecting a shared commitment to advancing inclusive development within the Waqf sector and the broader financial ecosystem. The program provided exceptional opportunities for knowledge exchange and institutional capacity-building, aimed at enhancing performance efficiency and strengthening the infrastructure that supports the Waqf sector in the Sultanate of Oman. Initiatives such as the Professional Diploma Program for Waqf Leadership reflect the shared commitment of Bank Nizwa, Tawafuq, and the College of Sharia Sciences to advancing Waqf leadership and enhancing national talent. These efforts aim to elevate the role of Waqf in sustainable development and community service by preparing a new generation of leaders capable of driving the sector toward a prosperous future.
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.
