Bank Nizwa participated in the 9^th Annual International Conference organized by the Muscat Chapter of the Institute of Chartered Accountants of India. Held under the patronage of HE Said bin Saleh Al Kiyumi, Chairman of Oman Chamber of Commerce and Industry, the prestigious event discussed the theme ‘Sustainability Through Diversification’. A delegation from Bank Nizwa, led by CEO Khalid Al Kayed was on hand to share their insights and industry expertise with other financial experts from around the world during two days of interactive panel discussions and debates.

Taking his place among a host of industry veterans and professionals, Khalid Al Kayed provided attendees with his expert analysis of the Sultanate’s diversification efforts during a panel discussion titled ‘Oil And Beyond – Future Economy of Oman’. Drawing from nearly three decades of experience in the banking sector, Al Kayed highlighted Oman’s massive potential as a future regional hub for tourism, industry, and Islamic finance.

Al Kayed, commented, “In this important era of low oil prices, Oman is investing in wide ranging strategies that will help drive non-oil revenues, create thousands of jobs for Omanis, and establish a base for future industrialization. Visionary plans such as Tanfeedh and Vision 2020 will define the future of the country and drive its sustainable development for years to come.”

During a presentation titled ‘Role of Islamic Banks in Promoting Economic Diversification’, Bank Nizwa’s General Manager of Wholesale Banking, R. Narasimhan, outlined the ability of Islamic financial instruments to boost non-oil economic activity. An industry veteran with vast experience in commercial banking, Narasimhan detailed future opportunities for the Islamic finance sector to increase its participation in the Sultanate’s economic diversification efforts.