• Building on its commitment to advancing the Waqf sector

Muscat: As part of its ongoing efforts to advance the Waqf ecosystem and promote innovation in Islamic financial instruments, Bank Nizwa, the leading and most trusted Islamic bank in the Sultanate of Oman, participated as the main sponsor of the 2nd Oman Endowment Conference. The event marked the graduation of the second cohort of the Professional Diploma in Preparing Endowment Leaders and witnessed the signing of a memorandum of understanding to launch an innovative endowment investment crowdfunding platform.

The diploma program, delivered through a strategic partnership between Tawafuq Islamic Financial Consulting and Bank Nizwa as the banking partner, provided 100 hours of intensive, advanced training in Waqf management. Participants explored modules in strategic leadership, corporate governance, and Waqf investment management, alongside the jurisprudential and legal frameworks governing endowments.

This initiative is designed to develop national talent equipped to lead Waqf institutions effectively and sustainably, while reinforcing the role of endowments in driving economic and social development, fully aligned with the goals of Oman Vision 2040.

On the sidelines of the conference, Bank Nizwa signed a memorandum of Executive Understanding with the Bousher Endowment Foundation and Wadiah Commercial Operations Company to launch a pioneering Waqf crowdfunding platform—the first of its kind in the Sultanate of Oman and across the GCC. The platform introduces a modern, Sharia-compliant financial model that enables individuals and institutions to support Waqf projects through flexible and sustainable funding mechanisms.

Commenting on the occasion, Mr. Khalid Al Kayed said: “We are proud to celebrate the graduation of the second cohort of the Professional Diploma in Preparing Endowment Leaders, as this program represents a pivotal milestone in developing national capabilities to lead Waqf institutions in accordance with best practices in governance and sustainability. The signing of the memorandum of Executive Understanding to launch the endowment investment crowdfunding platform reflects Bank Nizwa’s vision to develop innovative, Sharia-compliant financial solutions that expand community participation and enhance the developmental impact of Waqf, in support of the Sultanate’s comprehensive development goals.”

The platform offers two primary options for supporting Waqf projects: direct investment in Waqf initiatives and a perpetual endowment option designed to ensure the long-term sustainability of returns for the benefit of the projects of the Bousher Public Endowment Foundation. In this collaboration, Bank Nizwa provides Financial, Operational, and Marketing Solutions, while Wadiah Commercial Operations Company delivers the technical and operational infrastructure required to manage crowdfunding activities with high efficiency and reliability.

This partnership underscores a shared commitment to modernizing the Waqf sector through innovative digital solutions, expanding community engagement, and developing sustainable financial tools that reinforce the role of Waqf as a key driver of economic and social development in the Sultanate of Oman.