Oman’s Bank Nizwa bags 4 prestigious awards by Islamic Finance News

By Arya M Nair, Official Reporter
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Bank Nizwa wins Best Islamic Bank by IFN
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Bank Nizwa, Oman’s most trusted and prominent Islamic bank, has been named the ‘Best Islamic Bank’ in the Sultanate by the Islamic Finance News (IFN) Awards 2022, held in Dubai, acknowledging its development and excellence in servicing its clients.

Bank Nizwa was also named the ‘Best Retail Bank’ and the ‘Most Innovative Bank’ in Oman. Furthermore, Towell Infrastructure Projects Co’s (TIPCO) Syndicated Wakalah, valued at $37 million, was awarded the title of ‘IFN Deal of the Year’ in Oman, with Bank Nizwa being a major investor.

Bank Nizwa’s unwavering dedication to embedding innovative solutions, leveraging technological advancement and being at the front of promoting digitalization in the banking sector influenced IFN to award the bank with the venerated award. Showcasing exceptional performance across all its departments, Bank Nizwa has achieved a noteworthy financial performance by registering a 20 percent growth in net profit.

Khaled al Kayed_Bank Nizwa wins awards from IFN
Khaled al Kayed
CEO – Bank Nizwa

“We are truly honored to have received four prominent accolades in the country at such a prestigious event for the global Islamic financial sector. These highly sought-after titles are an exemplification of Bank Nizwa’s position as a dominant player in Oman’s Islamic financial sector. Setting the blueprint for change, our growing multi-industry portfolio of Shari’ah-compliant products and services offered to corporate and private banking customers is an indication of the bank’s competency to devise solutions that meet the ever-rising demand for Islamic products.”

Bank Nizwa has defined itself as a pioneer in the Islamic finance industry, facilitating digital transformation and innovation in the banking sector by incorporating digitalization in several domains. Bank Nizwa has amalgamated innovation into all of its operations and created a digital ecosystem for the bank whilst assuring the maximum degree of cyber and data protection. This has aided in reframing consumers’ journeys in terms of progressive Shari’ah-compliant products that fulfill all of their financial needs.

Bank Nizwa also has a sophisticated mobile app that offers increased banking accessibility through a variety of user-friendly services and is continually updated to include new features. All of its e-banking sites provide a consistent user experience, encouraging everyone to make the switch to digital banking.

Having established itself as one of the most respected Shari’ah-compliant banks in the Sultanate through only nine years of operation, Bank Nizwa has earned more than 35 local, regional and international awards.

Related: National Bank of Kuwait wins Best Bank for Treasury & Cash Management