In line with its prominent efforts to raise community awareness about the principles of Islamic finance, Bank Nizwa, the leading Islamic bank in the Sultanate of Oman, recently hosted the latest edition of its Islamic Finance Knowledge Series (IFKS) at the Oman Chamber of Commerce and Industry in Dhofar Governorate.
The program was held under the auspices of Sheikh Mohammed bin Ahmed Al Ghassani, Director of the Public Authority for Small and Medium Enterprises Development in Dhofar Governorate.
The event was attended by employees from the Oman Chamber of Commerce and Industry, the Public Authority for Small and Medium Enterprises Development, and the General Directorate of Endowments and Religious Affairs in Dhofar Governorate. Mr. Mustafa Al Naabi, Deputy Manager – Sharia Training at Bank Nizwa led the program.
During the session, Mr. Mustafa Al Naabi engaged attendees with insightful discussions on the principles and tools of Islamic banking and the functioning of Islamic banks. He also discussed the contribution of Islamic banking to the country’s economic development.
Commenting on the occasion, Mr. Mustafa Al Naabi remarked, “It is a privilege to represent Bank Nizwa on this esteemed platform, where we can share our knowledge and expertise with the community to deepen their understanding of the principles and values inherent in Islamic finance. We take great pride in our IFKS initiative and its ongoing impact on individuals and communities, helping them to differentiate between Islamic and conventional banking practices, and demonstrating how Sharia-compliant banking aligns with their personal beliefs and lifestyles.”
It is worth noting that Bank Nizwa has an extensive track record of community initiatives and educating the public about the principles of Islamic banking. Its Islamic Finance Knowledge Series (IFKS) has expanded to reach several governorates and Wilayats across most of the Sultanate, thereby increasing awareness of Sharia-compliant financial practices.
These sessions have enabled the bank to engage with government officials, ministry representatives, educators, and youth across the Sultanate, fostering a sound financial outlook within communities. Recently, the bank elevated its educational efforts by launching the Sairafah Program in partnership with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). This initiative targets specialists in the Islamic finance sector, offering a series of training sessions on AAOIFI Sharia standards.
Bank Nizwa has positively influenced over 10,000 individuals through its Islamic Finance Knowledge Series, reinforcing its commitment to knowledge-sharing and community welfare, and driving socio-economic progress nationwide.—Zawya
