Muscat: Reaffirming its leadership in the Islamic banking sector, Bank Nizwa, the leading and most trusted Islamic bank in the Sultanate of Oman, was honoured with the Excellence in Islamic Banking Award at the 15th edition of the Alam Al-Iktisaad Awards. This award recognizes the bank’s outstanding efforts and prominent role in financial innovation, education, and providing renewed solutions that meet its customers’ needs while reflecting their values and aspirations. Through its commitment to global standards, Bank Nizwa continues to solidify its position as a leading model in Islamic banking in the Sultanate. The award was received on behalf of the bank by Mr. Salim bin Rashid Al Maharbi, Chief Financial Officer of Bank Nizwa.

The awards ceremony was held under the patronage of His Excellency Eng. Ahmed Bin Hassan Al Dheeb, Deputy Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ). In attendance at the event were prominent government officials, industry leaders, and key decision-makers to celebrate excellence across diverse sectors.

Commenting on the achievement, Mr. Salim bin Rashid Al Maharbi stated, “Receiving this esteemed recognition is a powerful affirmation of our dedication to excellence and innovation in Islamic banking. It inspires us to continue evolving – pushing boundaries to enhance the Sharia-compliant banking experience for individuals and corporates alike. At Bank Nizwa, we remain deeply committed to advancing Islamic finance education, fostering industry dialogue, and developing robust Sharia-based financial instruments that align with both regional and global standards. This milestone reflects the collective dedication of our team and reinforces our vision to lead the sector through digital transformation, strategic collaboration, and service excellence. We are proud of this achievement and look forward to shaping the future of Islamic banking in Oman and beyond.”

Bank Nizwa’s continued leadership and innovation in financial technology firmly positions it at the forefront of Islamic banking in Oman. By integrating advanced Fintech solutions across all its operations, the bank has successfully enhanced the accessibility and efficiency of its Sharia-compliant services. From its user-friendly mobile app and website to its digital-only branch, these services improve service quality, promote financial inclusion, and empower individuals and businesses to access Islamic banking through secure, modern, and easy-to-use digital channels.

In line with its commitment to sustainability, Bank Nizwa continues to set new benchmarks through the implementation of its dedicated strategy launched in 2021, embedding Environmental, Social, and Governance (ESG) principles across its operations and products. As part of these efforts, the bank introduced the Sultanate’s first sustainable banking cards in the Islamic finance sector and extended sustainable financing to support critical sectors including renewable energy, agriculture, and healthcare. Furthermore, Bank Nizwa has pioneered unique Waqf initiatives such as the Ishraq Waqf Fund and the Professional Diploma for Waqf Leadership Development, reaffirming its role as a catalyst for sustainable growth and innovation in line with Oman Vision 2040.

Bank Nizwa continues to play a pivotal role in promoting Islamic financial literacy across the Sultanate. From its Islamic Finance Knowledge Sessions (IFKS), which aim to raise public awareness, to its Sairafah program designed to train industry professionals in AAOIFI standards, the bank is actively cultivating a deeper understanding of Sharia-compliant finance. Its recent collaboration with Tawafuq and the College of Sharia Sciences to launch the Professional Diploma in Waqf Leadership further highlights its commitment to specialized, high-impact education. Through these initiatives, Bank Nizwa not only empowers individuals and businesses to make informed financial decisions but also contributes to long-term industry capacity-building, reinforcing Oman’s position as a regional hub for Islamic finance knowledge and innovation.

As Bank Nizwa continues to lead through innovation, uphold uncompromising Sharia compliance, and champion financial education, it remains a key force in shaping the future of Islamic banking in the Sultanate. This recognition is a testament to the bank’s steadfast commitment to excellence and its role as a trusted provider of transparent, customer-centric financial solutions. Guided by a clear vision for sustainable growth and meaningful societal impact, Bank Nizwa is well-positioned to meet the evolving needs of its customers while contributing to the broader advancement of the Islamic finance sector.