Triparty deal to launch first-of-its-kind Endowment Investment Fund in Oman

Triparty deal to launch first-of-its-kind Endowment Investment Fund in Oman

Bank Nizwa, in partnership with Oman National Investment Development Company TANMIA and The Ministry of Endowments & Religious Affairs, has taken a significant step towards promoting responsible and professional endowment investment opportunities in the Sultanate.

The three parties have officially signed a Memorandum of Understanding (MoU) to establish the first-of-its-kind Endowment Investment Fund in Oman.

The objective of this pioneering MoU initiative is to create an avenue for individuals and institutions to invest their endowment funds in a carefully managed, Sharia-compliant investment vehicle listed on the Muscat Stock Exchange. The fund aims to provide the community with an attractive opportunity to channel their endowment money into well-established and professionally managed instruments, adhering to robust Sharia governance principles.

Khaled al Kayed

CEO – Bank Nizwa “This joint effort to establish Oman’s first Endowment Investment Fund reflects our commitment to fostering responsible investment practices that align with our cultural values and religious beliefs. Through this unique platform, we seek to encourage the public to make impactful contributions to society while earning competitive returns on their endowment investments.”

On this occasion, an endowment forum was held where Dr. Mohammad Suwaileh, Sr. Manager of Corporate Sharia Audit at Bank Nizwa, delivered a presentation entitled ‘Determinants and Guidelines of Modern