Committed to fostering meaningful discourse on vital industry topics, Bank Nizwa, the leading and most trusted Islamic bank in the Sultanate of Oman, recently powered the Themar Islamic Banking Conference 2024. Organised by The Arabian Stories (TAS) in collaboration with Financial Services Authority (FSA) and Oman Banks Association, the inaugural edition of the conference focused on Islamic financial transactions and economic stability. As a forward-thinking institution that has consistently led industry innovation, Bank Nizwa’s participation highlights its ongoing dedication to driving progress within Oman’s Islamic finance sector.

The opening ceremony of the conference was hosted under the patronage of His Excellency Abdul Salam bin Mohammed Al-Murshidi, President of Oman Investment Authority, in the presence of Mr. Khalid Al Kayed, Chief Executive Officer of Bank Nizwa, along with several experts, stakeholders, and pioneers in the Islamic banking sector.

The event featured active participation from the bank’s executive management, who contributed valuable insights and engaged in meaningful discussions. Mr. Khaled Al Kayed set an inspiring tone with his insightful opening address. Additionally, Sheikh Dr. Majid Al Kindi, Chairman of the Shariah Board at Bank Nizwa, participated in the conference’s accompanying panel discussion entitled, Islamic Financial Transactions in the Sultanate of Oman, Performance and Results. Additionally Mr. Mustafa Al Naabi, Deputy Manager of Sharia Training at Bank Nizwa, led an engaging workshop on AAOIFI Sharia Standards, highlighting recent advancements in Islamic finance and Sharia-compliant investments.

Commenting on the bank's involvement in the event, Mr. Khaled Al Kayed said, “We are honoured to be part of Themar, a pivotal platform that fosters collaboration among key stakeholders, encourages the exchange of innovative ideas, and addresses emerging challenges. We believe that the discussions at the conference will significantly impact the strategic direction of Islamic banking in the Sultanate, particularly in areas such as Waqf investments and Sharia-compliant financial products. By supporting such dialogues, Bank Nizwa is not only advancing the potential of Islamic finance but also contributing to the development of policies and practices that will drive sustainable economic growth and enhance financial inclusion in the Sultanate.”

Bank Nizwa was awarded the title of ‘Best Islamic Bank in the Sultanate for 2024’ during the event. The bank also received the ‘Digital Transformation Award for 2024’ in appreciation of its pioneering efforts in providing digital solutions. Additionally, it was honoured with the ‘Sustainability Award’ in recognition of its outstanding contributions to this field. These awards reflect the bank’s outstanding performance and pioneering role in contributing to the development of the Islamic finance sector in the Sultanate.

The conference delved into critical aspects of Islamic banking and Waqf investments, addressing operational risks, regulatory frameworks, monetary stability, and the effects of digital transformation. It also offered a valuable platform to explore investment opportunities, governance principles, and future prospects for both the private and public sectors. Through its substantial contributions to the engaging discussions and interactive workshops, Bank Nizwa reaffirmed its leadership status in the Islamic banking sector, guiding it towards enhanced resilience and adaptability in an ever-evolving landscape.