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Bank Nizwa achieved the highest growth rate in Oman’s banking industry reaching 200% after tax during the first half of 2017. The bank’s milestone was achieved courtesy of a surge in total assets, which reached 613 million OMR at the end of June 2017 and a gross financing portfolio that grew to 485 Million OMR during the 1st half of the year.
Bank Nizwa sponsored and participated the 1st Salalah International Forum on Islamic Finance in partnership with the College of Banking and Financial Studies (CBFS) and Shari’a-compliant experts Tawafuq Consultancy in Malaysia. The event discussed the role of Shari’a-compliant banking in economic development, promoted knowledge exchange among industry stakeholders, and identified solutions to common challenges faced by practitioners. Opened by HE Mohammed Bin Sultan Al Busaidi, Minister of State and Governor of Dhofar, and presented by HE Hamood bin Sangour Al Zadjali, Executive President of the Central Bank of Oman, the two day conference provided attendees with in-depth insights into the rapidly growing $2 Trillion USD global Islamic finance industry.
Recognizing its dedication to developing the communities it serves, Bank Nizwa received the prestigious ‘Excellence in CSR in Islamic Finance’ award at the regional Corporate Social Responsibility in Islamic Finance Conference and Awards ceremony. The accolade underlines the bank’s strong commitment to improving the welfare of local communities and using the principles of Shari’a-compliant banking to enrich the lives of individuals across the Sultanate.
Muscat, August 2nd 2017 – Bank Nizwa launched its new Wealth Management services to provide high net worth clients with the most effective Islamic financial solutions to grow funds in the Sultanate. Customers will receive a full range of tailored products and services to cater to their exclusive needs, including direct access to a relationship manager, Mudaraba Investment Options, and a host of value-added benefits.
Bank Nizwa launched its new Recurring Deposits product to provide its customers with ideal solutions to effectively manage and plan for future commitments such as children education, retirement and many others.
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