Tuesday June 20, 2023
Bank Nizwa, Oman's leading and most trusted Islamic bank, conducted an enlightening ‘Islamic Finance Knowledge Session’ (IFKS) at Al Burami University. Sheikh Dr Majid Al Kindi, Chairman of the Shari'ah Board, Bank Nizwa, presented the programme to a large audience, aimed at raising awareness about Islamic finance among the university’s faculty, students and representatives from General Directorate for Endowment and Religious Affairs at Al Buraimi Governorate.
Islamic finance has gained significant prominence globally as an ethical and sustainable alternative to conventional banking. Sheikh Dr Majid, renowned for his deep understanding of Islamic principles and their application in finance, shared his invaluable insights during the knowledge session. Participants had the opportunity to learn about the fundamental principles of Islamic finance, its key features and its role in promoting economic stability and social welfare.
"We take great pride in our efforts to educate communities about the principles, choices and benefits offered by the Islamic financial industry through our Islamic Finance Knowledge Series. Bank Nizwa firmly believes in fostering financial inclusion and providing local communities with unparalleled options for Islamic banking and finance. Through IFKS, our aim has been to empower individuals with the knowledge necessary to make informed decisions in accordance with their beliefs and financial aspirations. We remain dedicated to our mission of promoting awareness and accessibility of Islamic finance, as we continue to serve as a trusted ally in our customers' financial well-being and contribute to the growth of Oman's economy,” said Sheikh Dr. Majed.
Bank Nizwa, as the pioneering Islamic bank in Oman, has consistently demonstrated its dedication to raising awareness about the principles and advantages of Islamic finance among the people of the Sultanate. In an era where an increasing number of individuals are entering the workforce, making informed and prudent financial decisions has become crucial. Despite the limited knowledge about Oman's robust Islamic finance framework in the past, the potential for the development of Islamic finance remains substantial. Recognising the need to address the scarcity of Shari’ah-compliant products in the market, Bank Nizwa took the initiative to establish the IFKS. This programme was designed to bridge the gap and provide comprehensive insights into Islamic banking, positioning Bank Nizwa as an industry leader in promoting the values of Islamic finance.
Bank Nizwa is actively pursuing its commitment to collaborate with public and private organisations to provide education on Islamic banking and its advantages to diverse communities throughout the Sultanate. Since its establishment in 2013, Bank Nizwa has emerged as the leading reference for Islamic finance in the country. It has participated in various initiatives and organised events aimed at enhancing awareness about the industry across Oman. Apart from the impactful 'Islamic Finance Knowledge Series', the bank continues to introduce innovative products and services designed to cater to the unique requirements of individuals and businesses, empowering them to lead financially stable lives. Bank Nizwa remains steadfast in its mission to foster financial well-being and contribute to the overall prosperity of the community.