Bank Nizwa Announces the Launch of ‘Sairafah’ Islamic Finance Leaders Program in Collaboration with AAOIFI

Muscat: Furthering its commitment to fostering awareness of Islamic finance, Bank Nizwa, the most trusted Islamic bank in the Sultanate of Oman, recently launched the Sairafah program, in partnership with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) which targets specialists in the Islamic finance sector by providing a series of training sessions on the AAOIFI Sharia standards.

Since its inception, Bank Nizwa has been instrumental in driving knowledge about Islamic finance across communities through its IFKS sessions, touching the lives of over 10,000 individuals across the Sultanate of Oman. The Sairafah program is part of the bank’s pioneering efforts in spreading awareness of Islamic banking, and reflects its strategic agreement with AAOIFI, which took place during the 18th edition of the Training, Qualification and Islamic Finance Programs Week, held in Bahrain. This collaboration was established in line with Bank Nizwa's objectives to enhance and develop its IFKS program.

Sairafah is poised to enhance the educational journey with Bank Nizwa’s experienced master trainers, approved by AAOIFI, Dr. Mansour Al Qudah, Head of Sharia Compliance; Mr. Mohamed Sajari, Head of Sharia Structuring; Mr. Mustafa Al Naabi, Deputy Manager Sharia Training; and Mr. Mundher Al Ghazali, Deputy Manager of Sharia Audit, Dr. Mohamed Sweileh, Senior Director of Sharia Audit for Corporates. The program will cover AAOIFI Sharia standards, and participants will receive certificates endorsed by Bank Nizwa and AAOIFI, further solidifying their accomplishment.

Commenting on the launch of the program, Mr. Khaled Al Kayed, Chief Executive Officer at Bank Nizwa, said, “Islamic financial awareness is pivotal in building robust communities, and acts as a catalyst for personal and collective financial well-being. Through the Sairafah program, we strive to equip individuals with a holistic understanding of Islamic finance principles. The program will help foster a more dynamic and resilient economic ecosystem, where individuals and businesses are more capable of making prudent financial decisions. This initiative reinforces our role as a socially responsible institution, actively contributing to the development of the community we serve.”

The Sairafah program goes beyond imparting knowledge; it enhances the knowledge of participants to navigate Sharia-compliant financial practices according to the AAOIFI standards. The program is tailored to cater to the needs of diverse segments of specialists, including Islamic finance students, bank employees, and financial institution staff. Furthermore, the bank has simplified the registration process through its website, facilitating easy sign-ups for those interested. Dedicated to empowering the community with Islamic financial literacy, Bank Nizwa remains enthusiastic in its educational pursuits, and committed to tangibly contributing to socio-economic progress.