As a testament to its unwavering dedication to Islamic finance and its role as a catalyst for socio-economic progress, Bank Nizwa, the leading Islamic bank in the Sultanate of Oman, participated as the main sponsor of the Oman Waqf Conference held on 16 and 17 December 2024 in Muscat. Organized by the Bousher Waqf Foundation in collaboration with the Ministry of Endowments and Religious Affairs, the event took place under the esteemed patronage of His Excellency Sultan Al Habsi, Minister of Finance.
Themed ‘Innovation and Sustainability’, the conference highlighted the transformative role of Waqf in fostering sustainable development and addressing key societal challenges. Mr. Khalid Al Kayed, CEO of Bank Nizwa and Dr. Mohammed Fakhri Suwaileh, Waqaf Investment Senior Manager at Bank Nizwa actively participated in a closed session, where Mr. Khalid presented a series of initiatives highlighting Bank Nizwa’s commitment to supporting the endowment sector in the Sultanate. Dr. Mohammed also played a pivotal role in moderating a panel discussion titled “Innovation in Endowment Investments” and participated as a speaker in a panel discussion titled “An Innovative and Sustainable Vision for the Relationship between Endowments and Charitable Work.” Additionally, he conducted two workshops focused on “Governance, Performance Indicators, Risk Management, and Compliance in the Endowment Sector” and “Contemporary Endowment Investment”, further emphasizing the bank's dedication to enhancing the effectiveness and sustainability of endowment practices.
 
The conference was held in alignment with the Royal Decree No. 28/2024 issued by His Majesty Sultan Haitham bin Tariq Al Said, which established the Oman Waqf Foundation and its regulatory structure. This landmark initiative signals a national commitment to harnessing the potential of the Waqf sector as a driving force for economic diversification and social well-being in the Sultanate.
Commenting on the bank’s proactive role in the event, Mr. Khalid Al Kayed, CEO of Bank Nizwa stated, “Our participation in the Oman Waqf Conference underscores our belief in Waqf as a means to empower communities, promote social equity, and support national development priorities. This participation also embodies our strategic vision for integration with other Islamic financial sectors that include endowments as one of their main components. The strategy to support this sector includes four main pillars: community awareness, building institutional and human capacities in the endowment sector, developing endowment assets and maximizing their returns, and enhancing the sustainability of the endowment sector. By contributing to discussions on critical aspects like innovation and sustainability as well as other parameters that influence operational excellence and strategic growth, we aim to enhance transparency and accountability in Waqf operations, ensuring their enduring impact on society. Such platforms are crucial for fostering collaboration between policymakers, businesses, and communities, paving the way for a more inclusive and resilient future.”
He added, “At Bank Nizwa’s, we continuously work towards deploying innovative Sharia-compliant solutions that align traditional Islamic values with modern financial strategies to address the evolving needs of our nation. This initiative is not only about preserving and promoting the essence of endowments but also about leveraging them as a cornerstone for national growth and equity.”
Further amplifying its presence, Bank Nizwa hosted an informative session to showcase its Islamic banking solutions tailored to the unique needs of Waqf institutions. A key highlight of the discussions was the bank’s recently launched Ishraq Waqf Investment Fund, a platform designed to advance sustainable progress by directing Islamic finance towards initiatives that support charitable causes and social welfare objectives.
Through ongoing sponsorships like these, Bank Nizwa reaffirms its role as a trusted financial partner to individuals, businesses, and institutions seeking Sharia-compliant solutions that deliver value. By prioritizing the development of key sectors such as Waqf, the bank remains firmly committed to its mission of fostering long-term growth and prosperity across the Sultanate.