The formation of Bank Nizwa came about with the Central Bank of Oman granting its initial approval to the licensing of the Bank to Sheikh Saud bin Ali Al Khalili. Sheikh Saud and a further 92 other Omani individuals, companies and pension funds constitute the founder shareholders of the Bank.
Bank Nizwa is Oman’s first dedicated Islamic bank, with fully Shari’a compliant products and services.
The Bank offers an entire portfolio of commercial banking services, in accordance with the license issued by the Central Bank of Oman (CBO) and the Banking Law promulgated by the Royal Decree No. 114/2000.
The Founders appointed a Founding Committee to represent them and to help manage the establishment of the Bank as a licensed Shari’a compliant commercial bank. The Founding Committee consisted of five individuals including the Chairman of the Founding Committee, Ahmed bin Saif Al Rawahi. Since launching its operations in January 2013, the bank now provides a full range of banking solutions to individuals, small and medium size enterprises, corporations and government institutions. IT aims to be the bank of choice for the people of Oman. Bank Nizwa is equipped with state-of-the-art banking systems and software which are driven to offer customers the best Islamic Banking experience. Currently with 17 branches the bank will expand its branch network extensively over the next five years as part of its strategic plan to grow the bank.