MUSCAT: The Thimar 2025 Islamic Banking Forum opened here yesterday under the auspices of His Highness Sayyid Numeir bin Salim al Said, with a focus on knowledge exchange, digitalisation, integration across waqf funds, investment and Islamic takaful. A series of panel discussions also spotlighted trends in innovation, collaboration and the industry’s commitment to social responsibility.

Omair bin Mohammed al Jalandani, Business Development Manager — The Arabian Stories (TAS), commented: "Building on the success of its debut edition, this year's Islamic Banking Forum has definitive objectives: the increased exchange of knowledge and experience among banks, Sharia institutions and financial institutions; the facilitation of digital transformation throughout the Islamic banking industry for increased efficiency; and exploring possibilities for integrating awqaf, investment and takaful as means to achieve maximum impact".

Bank Nizwa won the Innovation in Islamic Banking Award at Thimar 2025, while Meethaq received the Best Digital Application. The other key winners included Ishraq Endowment Fund for Best Public-Private Sector Partnership, Badiyah Endowment Foundation for Best Social Impact Initiative, Takaful Oman for Excellence in Social Responsibility and Tawafuq Islamic Financial Consultancy for Best Training Programme.

Speaking at the forum on the rapid growth of Islamic banking, Khalid bin Mohammed al Kayed, CEO of Bank Nizwa, said, "Oman's Islamic banking has achieved a 20 per cent market share, which is part of the GCC's 24 per cent of total banking assets".

He further added: “Underpinned by prudent fiscal policies, the economy will expand 2.3 per cent in 2025 with low inflation of 0.6 per cent. The Central Bank is leading digitalisation through open banking and digital services; and Bank Nizwa is leading the way with the first Sharia-compliant digital-only platform. Sustainability is also a priority area, with recyclable banking cards and over RO 150 million of sustainable financing". Al Kayed stated.

Noora Sabah Sultan, Head of Retail Banking Services at Al Ahli Islamic Bank, said:, "Al Ahli Islamic Bank is driving Oman's Islamic banking sector with strong Sharia-compliant governance, strategic expansion; and innovative products and services, including Oman's first Islamic liquidity fund, socially responsible credit card and the ‘Ahli Express’ digital channel.

Noora further commented, "The bank has also backed major financing projects, such as sovereign sukuk, sustainable city development and SME support under its "Tamkeen" programme, while actively promoting community initiatives in education and social welfare — demonstrating a balance of innovation, growth and social responsibility".

The first panel deliberated on the theme, ‘Open Banking and Digital Transformation in Shaping the Future of Islamic Banking’, while the second session focused ‘Endowment Funds and Islamic Takaful: Tools for Maximising Sustainable Impact’.

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