Saturday July 22, 2023
Bank Nizwa, Oman's leading Islamic bank, held a pivotal meeting of its esteemed Shari’ah Board. Headed by Sheikh Majid Al Kindi, Chairman of the Shari’ah Supervisory Board (SSB), the gathering aimed to discuss and evaluate diverse aspects of Shari’ah compliance within the banking industry. The meeting saw the participation of the board members, who engaged in thought-provoking discussions to ensure the bank's adherence to Islamic principles.
The Shari’ah Board, composed of distinguished personnel with extensive expertise in finance and Shari’ah law, plays a crucial role in guiding Bank Nizwa's operations and ensuring the bank's adherence to Islamic banking principles. The board conducts regular meetings to deliberate on matters related to Islamic finance, investments and Shari’ah-compliant products and services.
During the meeting, Sheikh Majid highlighted the significance of Bank Nizwa’s role in providing innovative financing solutions that adhere to Islamic principles. He stated, “Bank Nizwa's SSB meeting reinforces our collective dedication to delivering Shari’ah-compliant banking services to our valued customers. We strive to ensure complete transparency, fairness and ethical practices as well as embracing innovation which is driving us forward in perfect harmony with the rich tapestry of Islamic values that guide and inspire our every endeavour. Bank Nizwa is committed to shaping a brighter future by raising the bar of excellence in Islamic banking, fostering financial prosperity and promoting social progress in complete harmony with the wisdom enshrined in Shari’ah principles."
The discussions held during the meeting covered a wide range of topics, including Islamic financing, risk management, corporate governance and social responsibility. The board members provided valuable insights and guidance on these matters, enhancing Bank Nizwa's capabilities to serve its customers whilst ensuring compliance with Islamic principles.
Bank Nizwa has always been at the forefront of pioneering Shari’ah-compliant banking in Oman, consistently introducing innovative products and services that cater to the financial needs of individuals and businesses seeking Islamic banking solutions. The bank's commitment to providing ethical and sustainable financial solutions has earned it recognition and trust among its customers.
Dedicated to its mission of being the preferred choice for individuals and businesses seeking Shari’ah-compliant banking solutions, the bank continues to embrace technological advancements in the finance field and innovative practices, whilst preserving the ethical and transparent nature of Islamic finance.