Bank Nizwa hosts the second session of ‘Nibras’

Muscat: Bank Nizwa, the leading Islamic bank in Oman, successfully held the second edition of its Nibras Programme at Rozna Restaurant. The event featured His Excellency Nasser bin Khamis bin Ali Al Jashmi, Secretary General of the Ministry of Finance and Supervisor of the National Programme for Fiscal Balance as the chief guest. The evening was initiated by Shaikh Khalid Al Khalili, Chairman of Bank Nizwa, with the aim of engaging with the bank's key stakeholders and positioning Bank Nizwa as a pioneer in Islamic banking. This unique initiative provided a platform for Bank Nizwa to showcase its innovative products and services, whilst also allowing participants to engage with senior executives and experts in the field of Islamic finance.

The panel discussion, chaired by Bank Nizwa's Chairman and featuring the chief guest, was a truly thought-provoking conversation. The conversation was particularly enriched by the insights shared by His Excellency, who spoke candidly about his own career and experience in the banking sector in Oman. The challenges he faced during his academic and professional journey were also addressed, adding depth and nuance to the discussion. The conversation also delved into the guest's current position and how he manages it. To gain a better understanding of his journey, the discussion looked into his childhood memories and characteristics. Furthermore, the panelists focused on Oman's financial balance plan, which is to redirect the financial surplus towards paying off the financial deficit and revitalising various economic sectors. They emphasised the importance of economic diversification and the strategies developed by Oman to promote financial growth and direct it towards sustainable development. Additionally, the national programme for financial sustainability and the development of the financial sector were also addressed during the conversation, highlighting the initiative’s main focuses, paths and potentials as well as the phases and timeline adopted.

Following the panel discussion, Sheikh Khalid Al Khalili, the Chairman of the Board of Directors of Bank Nizwa stated, "Bank Nizwa is regarded as one of the prominent financial institutions in the sector, and we are deeply committed to engaging in the dialogue of significant financial matters that dominate the field."

"As the global economy continues to evolve, we recognise that there is an increasing demand for ethical and sustainable financial solutions. Islamic finance, which emphasises principles such as social justice, fairness and transparency, is well-positioned to meet this demand. Bank Nizwa is committed to customer-centricity and innovation and seeks to set the benchmark for Islamic banking in Oman. By promoting monetary practices that adhere to Islamic morals and transparency, the bank aims to foster a culture of financial inclusion. We will continue driving innovation and growth in the Islamic finance industry and ‘Nibras’ is just one of the many initiatives we have undertaken to showcase our leadership in this field. We are honoured to have had the opportunity to host such a successful event and look forward to continuing our engagement with our stakeholders to create a better future for all," he added.

Bank Nizwa, being the first Islamic bank in Oman, has a longstanding commitment to spreading awareness about Islamic finance and its numerous benefits to people across the Sultanate. The bank regularly conducts knowledge sessions to increase understanding and clarity about Shari’ah-compliant financial services and products, with the goal of empowering attendees to make informed financial decisions. Additionally, the bank hosts an array of events annually, ranging from wealth management events to the Islamic Finance Knowledge Programme, catering to a diverse audience to expand its professional network and maintain relationships.

As Oman's economy continues to grow, fueled by a thriving entrepreneurial ecosystem that creates job opportunities and fosters innovation, it is crucial for Islamic banks like Bank Nizwa to remain at the forefront by undertaking thought leadership ventures. Such initiatives are aimed at providing social and economic benefits to members of the community, contributing to the socio-economic development of Oman through integrated efforts between various institutions. Bank Nizwa seeks to enhance the Islamic economy by staying ahead of the curve and empowering individuals and businesses to make informed financial decisions.