In a step towards fulfilling the growing needs of customers, Bank Nizwa launched its new Murabaha-based Home Finance product for completed properties.
Bank Nizwa has hosted this morning the signing ceremony of a MoU partnered with Takaful Oman Insurance Co and Al Kawthar Islamic Fund managed by “TANMIA” to organize the Sultanate’s first roadshow that will shed light on Shari’a-compliant financial tools including banking, insurance and investment.
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.
Bank Nizwa achieved the highest growth rate in Oman’s banking industry reaching 200% after tax during the first half of 2017. The bank’s milestone was achieved courtesy of a surge in total assets, which reached 613 million OMR at the end of June 2017 and a gross financing portfolio that grew to 485 Million OMR during the 1st half of the year.
Bank Nizwa sponsored and participated the 1st Salalah International Forum on Islamic Finance in partnership with the College of Banking and Financial Studies (CBFS) and Shari’a-compliant experts Tawafuq Consultancy in Malaysia. The event discussed the role of Shari’a-compliant banking in economic development, promoted knowledge exchange among industry stakeholders, and identified solutions to common challenges faced by practitioners. Opened by HE Mohammed Bin Sultan Al Busaidi, Minister of State and Governor of Dhofar, and presented by HE Hamood bin Sangour Al Zadjali, Executive President of the Central Bank of Oman, the two day conference provided attendees with in-depth insights into the rapidly growing $2 Trillion USD global Islamic finance industry.
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