OMINVEST bags ‘Excellence in Investment’ award at New Age Banking Summit

By Arya M Nair, Official Reporter
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Oman International Development and Investment Company (OMINVEST) has received the ‘Excellence in Investment’ award at the seventh edition of the ‘New Age Banking Summit’.

The summit, which was held under the patronage of H E Tahir Al Amri, Executive President of the Central Bank of Oman, highlighted the opportunities and challenges faced by Oman’s banking industry, and focused on the adoption of new technologies that will help Omani banks keep pace with the evolving financial ecosystem in the digital age.

It was recognized at the Summit that OMINVEST’s investments in quality assets across diversified sectors, creation of scalable platforms within business verticals, excellence in acquisitions and mergers, creating value and synergies within group companies, producing healthy cashflows, and a track record of uninterrupted dividends are among the key considerations for which the company won the ‘Excellence in Investment’ award.

AbdulAziz Al Balushi
AbdulAziz Al Balushi

“We are honored and delighted to receive the award for ‘Excellence in Investment’ for the second time and I sincerely thank our esteemed regulators for their continued support and guidance, which has been paramount to our success over the years. I also thank our esteemed board of directors for their vision and leadership, and our dedicated employees for their integrity and hard work. The crucial support from our internal and external stakeholders has enabled us to be a highly purpose-driven and successful organization. This award is also a testament to our commitment and dedication to creating value for all our stakeholders.”

Mr. Badar Al Shanfari, Chief Operating Officer (COO) at OMINVEST, spoke on the impact of recent global economic trends on Oman’s banking and financial industry, the company’s approach to making FinTech investments, and the importance it places on Environmental, Social, and Governance (ESG) practices during the Summit’s panel discussion on ‘The Future of Banking and Financial Services.’

OMINVEST’s commitment to ESG is an effective management tool, helping the company create measurable and scalable impact. Mr. Al Shanfari explained that it also helps assess risks and opportunities regarding investment decision-making processes and also highlighted that effective ESG practices do not only ensure the sustainability of an organization, but also create sustainable societies and economies around the planet.

Related: Qatar’s QNB Group bags 4 sustainability awards from Global Finance