In a testament to the bank’s enduring legacy of driving excellence within the Islamic finance sector, Bank Nizwa, the leading and most trusted Islamic bank in the Sultanate of Oman, was recently honoured with the prestigious title of 'Most Innovative Islamic Bank' at the International Finance Awards 2024, securing this distinction for the third consecutive year. The award underscores the bank’s commitment to offering exceptional banking experiences, underpinned by a comprehensive and innovative suite of Sharia-compliant solutions.
In a significant step that underscores its dedication to promoting Sharia-compliant investments in the nation, the Board of Directors of the Ishraq Waqf Investment Fund, has announced the extension of the subscription period for the Initial Public Offering (IPO). Interested individuals and institutional investors can now participate in the landmark Sharia-compliant IPO until 30th January, 2025. The fund was established through a partnership between the Ministry of Endowments and Religious Affairs, the Sultan Qaboos Higher Centre for Culture and Science, and Bank Nizwa, in collaboration with the Oman National Investments Development Company (Tanmia) as the fund’s investment manager.
Under the astute leadership of His Majesty Sultan Haitham Bin Tarik, the Sultanate of Oman has emerged as a beacon of resilience within the GCC. The nation’s dedication to fiscal discipline, economic diversification, and sound financial management has laid a solid foundation for sustained economic growth, exemplified by S&P Global’s upgrade of Oman’s credit rating to investment grade in September 2024. This achievement has strengthened investor confidence, lowered borrowing costs, and opened doors to international capital markets. Additionally, Fitch Ratings revised Oman’s outlook to ‘Positive’ in December 2024, citing successful fiscal reforms and prudent debt management.
Staying true to its ethos as Oman’s leading and most trusted Islamic bank, Bank Nizwa, has introduced an exclusive Hajj and Umrah Financing Bundle, a strategic initiative aimed at providing the necessary financial solution to individuals wishing to undertake these sacred journeys. Bank Nizwa enables individuals to achieve their diverse aspirations through innovative financing solutions, while also offering exclusive benefits tailored to enhance their banking experience.
As a testament to its unwavering dedication to Islamic finance and its role as a catalyst for socio-economic progress, Bank Nizwa, the leading Islamic bank in the Sultanate of Oman, participated as the main sponsor of the Oman Waqf Conference held on 16 and 17 December 2024 in Muscat. Organized by the Bousher Waqf Foundation in collaboration with the Ministry of Endowments and Religious Affairs, the event took place under the esteemed patronage of His Excellency Sultan Al Habsi, Minister of Finance.
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