Bank Nizwa, the leading and the most trusted Islamic bank in the Sultanate, organised induction sessions on Islamic Finance, which falls under the umbrella of the bank’s renowned “Islamic Finance Knowledge Series (IFKS)” in several governorates of the Sultanate. The sessions witnessed a fruitful engagement amongst attendees.
The Bank organised the first session on Islamic Finance for the Ministry of Religious Affairs staff in Salalah, under the patronage of Firas Al-Naqbi, Director General of Endowments and Affairs in the Governorate of Dhofar, in the presence of a number of officials and employees of the Ministry. Sheikh Dr. Majid Al Kindi, Chairman of the Shari’ah Board at the Bank presented the programme to a large audience, highlighting the benefits of Shari’ah-compliant financial tools and services to the attendees.
The bank held as well two parallel sessions in the governorate of South Al Sharqiyah; at Jalan Bani Bu Ali and Jalan Bani Bu Hasan, which were delivered by Mr. Mustafa Al Naabi, Shari’a Training Assistant Manager at Bank Nizwa.
“The bank has been able to educate communities about the values, options and advantages provided by the financial industry through IFKS, equipping them with the knowledge they need to make wise decisions. Financial inclusion lays the groundwork for a sound financial infrastructure in addition to promoting a nation’s economic growth and development,” said Khaled Al Kayed, Chief Executive Officer of Bank Nizwa. “As a consequence, these sessions exemplify our persistent commitment to equipping local communities with unrivalled Islamic banking and finance options that comply with today’s changing financial demands,” he added.
The first Islamic bank in Oman, Bank Nizwa, has long been committed to spreading awareness of Islamic finance’s concepts and tenets as well as its many benefits amongst the people of the Sultanate. Making wise financial decisions is essential as more people join the workforce on a daily. Although many people were unaware of Oman’s solid Islamic Finance foundation, the development potential of Islamic finance is still quite significant. Bank Nizwa sought to remedy the underrepresentation of products that adhere to Shari’ah. As a result, Bank Nizwa, the industry pioneer in Islamic banking, devised IFKS.
In addition to these recent sessions, Bank Nizwa is continuing its plan to work with institutions and organisations in the public and private sectors to educate various communities in the Sultanate about Islamic banking and its benefits. Since its inception in 2013, Bank Nizwa has become the go-to-reference for Islamic finance in the country, participating in and organising several initiatives to raise awareness of the industry across Oman. In addition to the ‘Islamic Finance Knowledge Series’, the bank has been offering novel products and services tailored to the needs of personal and corporate banking and helping people lead financially secure lifestyles.—Zawya News