Reinforcing its role in supporting the efforts of the local community Bank Nizwa Sponsors the First Samail Festival

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In celebration of the Sultanate of Oman’s 52nd glorious National Day, Bank Nizwa, the most trusted Islamic bank, sponsored the first Samail Festival. This comes in alignment with the Bank’s Nizwa’s part of its relentless efforts to support activities aimed at achieving Sustainable Development Goals (SDGs). The festival aims to enrich the Wilayat of Samail through economic, cultural, social and sports activities that raise the spirits of the community. In addition to reinforcing societal roles, the Samail Festival also supports state development and promotes tourism, history and heritage.

As part of the festival, the Samail Economic Forum, titled “Possibilities and Opportunities”, will be held on 16th November, under the patronage of His Excellency Qais Al Yousef the Minister of Commerce, Industry and Investment Promotion. A conference and a dialogue session will be organised during which, invited institutions will participate. The forum will also include an exhibition called ‘Products and Entrepreneurs’. Furthermore, Saif Al Rawahi, Assistant General Manager of Investment, Treasury, Government Relations and Project Finance, delivered a workshop on ‘The Role of Islamic Finance in Supporting Projects’.

The sports events encompassed the Samail Marathon open for the public and children, the Ardha Equestrian Festival and ‘Discover Samail’ (Walking Trails in the Wilayat of Samail), which consist of four tracks starting from different places that converge at the Samail Fort. More than 200 participants are expected to participate in the same. Furthermore, a Shooting Championship will also be organised, which will be open for anyone to participate from across the Sultanate. Lastly, attendees will also get to experience Al-Fayhaa Football Championship, held at the Samail Club Stadium with the participation of 16 teams.

Commenting on the festival, Saif Al Rawahi said, “Bank Nizwa has always been interested in sponsoring events that provide investment opportunities in the Sultanate's various governorates and states and contribute to its sustainability, especially because of its significant role in promoting tourism in the region, which benefits both the state and the country. Additionally, the festival's objectives align with the Bank’s vision to promote investment in the Sultanate and adopt sustainable practices. This accords with Oman's 2040 vision, which aims to achieve comprehensive sustainable growth in all sectors.”

“In fact, we advocate the establishment of such festivals in all Omani governorates as a value-added benefit, which in turn informs the people of the community, its capabilities, heritage, customs and traditions of the wilayats, as well as introduces them to the tourism components these hold. The Samail Festival is the first of the mass festivals, with a range of economic, cultural, entertainment and other social aspects,” he added.

Bank Nizwa is dedicated to becoming an important contributor to the nation's expanding economy and its presence in Samail has been quite notable. Bank Nizwa has completed various regional projects, including cement, construction, poultry, food security and green financing. The Islamic bank also has a strong retail presence in the area, with fully operating branch services. Bank Nizwa is well-positioned to drive the expansion of Islamic finance and establish its leadership in the industry through such initiatives.

A number of government entities support the Samail Festival, including the Ministry of Trade, Industry and Investment Promotion, the Ministry of Social Development, the Public Authority for Small and Medium Enterprise Development, and the Public Establishment for Industrial Estates. The festival is in line with the general trend of the Sultanate of Oman.

In recent years, Bank Nizwa, the pioneer of Islamic banking, has implemented and supported many national initiatives and events aimed at developing various sectors and institutions in the local community. Thus, contributing to the comprehensive development process that the country is witnessing, Bank Nizwa also strives to instil a culture of responsibility and societal giving among institutions in order to achieve positive and sustainable results for the society and the country as a whole.

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