Bank Nizwa was named this year’s ‘Pioneer of Islamic Banking’ during the seventh annual Global Islamic Finance Awards ceremony in Kazakhstan’s capital, Astana. Dr. Ashraf bin Nabhan Al Nabhani, General Manager of Corporate Support at the bank, received the award in front of an audience of Heads of States, which included His Excellency Nursultan Nazarbayev, President of Kazakhstan, His Excellency Ismaïl Omar Guelleh, President of Djibouti, senior ministers, central bank governors and some of the most influential stakeholders in the Islamic finance sector.

Commenting on the award win, Khalid Al Kayed CEO of Bank Nizwa, said, “Receiving the ‘Pioneer of Islamic Banking’ award reflects our constant drive to nurture Islamic finance’s growth in Oman. As a result of that dedication, we have continued to offer an effective alternative to conventional banking solutions since our inception while continuously setting new benchmarks for innovation, customer service and excellence.”

This award is regarded as being among the most prestigious in the industry, highlighting Bank Nizwa’s growing status as the Sultanate’s leader in Shari’a-compliant banking solutions. Bank Nizwa was selected for its constant drive to introduce tailored products and services that meet the evolving lifestyle needs of its customers in Oman. Its strongest commitment to the values of Islamic finance has allowed the bank to secure remarkable success, including achieving the highest growth rate in Oman’s banking sector reaching 200% after tax during first half of 2017.

Since the start of its operations, Bank Nizwa nurtured the growth of Islamic finance in the Sultanate through the introduction of innovative products and services tailored to the needs of multiple industries. In line with the country’s national strategy, the bank has been catering to various market segments including emerging sectors that contribute to the diversification of the nation’s economic resources. In addition to being named ‘Islamic Bank of The Year’ by the Corporate Livewire Finance Awards, the Bank has received a number of accolades celebrating its successful track record.