10 September 2014
MUSCAT -- Bank Nizwa has achieved 80 per cent of its network expansion plan, targeted run till the end of this year, with the opening of its latest branch in Samayil. The new addition is part of a two-year strategy to open 10 full-fledged branches by January 2015 and bring the Islamic banking experience to the doorsteps of communities across Oman. The official opening ceremony took place under the auspices of Shaikh Sultan bin Abdullah al Battashi, Deputy Wali of Wilayat Samayil.
The Samayil branch marks the eighth opening in less than 24 months, making Bank Nizwa the most widespread full-fledged Islamic Bank in the Sultanate. "Islamic banking is rising in prominence and popularity in Oman as the offering is enhancing the product diversification in the banking industry and giving customers the benefit of choosing Islamic banking products and services," expressed Dr Jamil El Jaroudi, CEO of Bank Nizwa. "Our growing network is a direct response to anticipated market demand. By entrenching ourselves across the nation, we are not only getting closer to customers and better understanding their needs but also introducing our services to a wider audience that can present them with new, untapped opportunities."
Dr El Jaroudi went on to explain that Bank Nizwa's branch locations are carefully identified and selected based on in-depth customer segmentation research, potential performance assessment and network optimisation analysis that takes into consideration current and potential customer behaviour and patterns, over and above geographic location and reach. To date, the Bank's extensive network includes fully-operational branches in Al Qurum, Ghoubra, Nizwa, Al Khoud, Sohar, Ibra and Salalah.
Situated in Samayil, the new branch provides a portfolio of Personal Banking products and services to new and existing customers. This offering includes a selection of transactional and investment accounts, as well as finance and investment products such as auto finance, property finance and Mudharaba Investments to name a few. In addition, Bank Nizwa offers products serving corporations and government institutions. The Bank is also planning to provide a wide range of products and services to small and medium size enterprises in the near future.
MUSCAT -- Bank Nizwa has achieved 80 per cent of its network expansion plan, targeted run till the end of this year, with the opening of its latest branch in Samayil. The new addition is part of a two-year strategy to open 10 full-fledged branches by January 2015 and bring the Islamic banking experience to the doorsteps of communities across Oman. The official opening ceremony took place under the auspices of Shaikh Sultan bin Abdullah al Battashi, Deputy Wali of Wilayat Samayil.
The Samayil branch marks the eighth opening in less than 24 months, making Bank Nizwa the most widespread full-fledged Islamic Bank in the Sultanate. "Islamic banking is rising in prominence and popularity in Oman as the offering is enhancing the product diversification in the banking industry and giving customers the benefit of choosing Islamic banking products and services," expressed Dr Jamil El Jaroudi, CEO of Bank Nizwa. "Our growing network is a direct response to anticipated market demand. By entrenching ourselves across the nation, we are not only getting closer to customers and better understanding their needs but also introducing our services to a wider audience that can present them with new, untapped opportunities."
Dr El Jaroudi went on to explain that Bank Nizwa's branch locations are carefully identified and selected based on in-depth customer segmentation research, potential performance assessment and network optimisation analysis that takes into consideration current and potential customer behaviour and patterns, over and above geographic location and reach. To date, the Bank's extensive network includes fully-operational branches in Al Qurum, Ghoubra, Nizwa, Al Khoud, Sohar, Ibra and Salalah.
Situated in Samayil, the new branch provides a portfolio of Personal Banking products and services to new and existing customers. This offering includes a selection of transactional and investment accounts, as well as finance and investment products such as auto finance, property finance and Mudharaba Investments to name a few. In addition, Bank Nizwa offers products serving corporations and government institutions. The Bank is also planning to provide a wide range of products and services to small and medium size enterprises in the near future.
© Oman Daily Observer 2014
