Bank Nizwa renews commitment to furthering socio-economic progress as it observes 53rd National Day

Bank Nizwa renews commitment to furthering socio-economic progress as it observes 53rd National Day

Muscat: On the occasion of the Sultanate of Oman’s 53rd National Day, that marks the glorious progress of our dear country under the inspiring leadership of His Majesty Sultan Haitham Bin Tarik Al Said, Bank Nizwa has reaffirmed its commitment to furthering the development of Oman's Islamic finance sector and the advancement of the nation’s economy, while also prioritising the empowerment and well-being of its citizens.

Over the past decade, Bank Nizwa has achieved remarkable milestones and has championed transformative initiatives within the sector. Upholding values of transparency and integrity, the bank has not only promoted the merits of Sharia-compliant banking but has also elevated the Islamic finance landscape with modern solutions, thereby setting new benchmarks within the industry, and redefining the conventional perspective of Islamic banking. Oman’s socio-economic progress amidst dynamic economic environments has formed the bedrock of this strategic approach. The Islamic banking industry in Oman has seen exponential success over the years, with the total assets of Islamic banks and windows growing by 12.6% year-on-year, reaching the RO 7 billion mark at the end of June 2023, according to the Central Bank of Oman’s data. Islamic banking entities also provided financing worth RO 5.8 billion, recording a