MUSCAT: Bank Nizwa, the leading and the most trusted Islamic bank in the Sultanate of Oman, organised induction sessions on Islamic Finance, which falls under the umbrella of the bank's renowned "Islamic Finance Knowledge Series (IFKS)" in several governorates of the Sultanate of Oman.

The sessions witnessed a fruitful engagement amongst attendees. The Bank organised the first session on Islamic Finance for the Ministry of Awqaf and Religious Affairs staff in Salalah, under the auspices of Firas al Naqbi, Director General of Awqaf and Religious Affairs in the Governorate of Dhofar, in the presence of a number of officials and employees of the Ministry.

Shaikh Dr Majid al Kindi, Chairman of the Shari'ah Board at the Bank presented the programme to a large audience, highlighting the benefits of Shari'ah-compliant financial tools and services to the attendees.

The bank held as well two parallel sessions in the governorate of South Al Sharqiyah; at Jaalan Bani Bu Ali and Jaalan Bani Bu Hassan, which were delivered by Mustafa al Naabi, Shari'a Training Assistant Manager at Bank Nizwa.

"The bank has been able to educate communities about the values, options and advantages provided by the financial industry through IFKS, equipping them with the knowledge they need to make wise decisions. Financial inclusion lays the groundwork for a sound financial infrastructure in addition to promoting a nation's economic growth and development," said Khaled al Kayed, Chief Executive Officer of Bank Nizwa.

"As a consequence, these sessions exemplify our persistent commitment to equipping local communities with unrivalled Islamic banking and finance options that comply with today's changing financial demands," he added.

The first Islamic bank in Oman, Bank Nizwa, has long been committed to spreading awareness of Islamic finance's concepts and tenets as well as its many benefits amongst the people of the Sultanate of Oman. Making wise financial decisions is essential as more people join the workforce on a daily.

Although many people were unaware of Oman's solid Islamic Finance foundation, the development potential of Islamic finance is still quite significant. Bank Nizwa sought to remedy the under-representation of products that adhere to Shari'ah. As a result, Bank Nizwa, the industry pioneer in Islamic banking, devised IFKS.

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