Muscat: Continuing its support for Omani youth and fostering an environment that promotes innovation, Bank Nizwa, the leading and most-trusted Islamic bank in the Sultanate of Oman, formalized a partnership and support agreement with the Office of the Governor of Al Dakhiliyah to support the Entrepreneurship and Innovation Award in the Al Dakhiliyah Governorate. The award aims to align entrepreneurship strategies with Oman Vision 2040, which focuses on a diversified and sustainable economy. Furthermore, the award seeks to provide a suitable environment for building networks and knowledge exchange among entrepreneurs; thus enhancing the country’s position on the regional and international entrepreneurship map. The agreement was signed by His Excellency Sheikh Hilal bin Saeed bin Hamdan Al Hajri, the Governor of Al Dakhiliyah and Mr. Salim Rashid Ali Al Maharbi, Chief Financial Officer of Bank Nizwa.

Bank Nizwa's support for the Entrepreneurship and Innovation Award in Al Dakhiliyah Governorate aligns with the directives of His Majesty Sultan Haitham bin Tariq, to focus on the small and medium enterprises sector and the entrepreneurship sector. This support embodies the active role and significant contributions of the bank in supporting the progress of this sector through providing innovative banking services and products that are grounded in the principles of Islamic Sharia.

Commenting on the occasion, Mr. Salim Rashid Ali Al Maharbi said, "The signing of the agreement is part of Bank Nizwa's ongoing efforts to support and empower the spirit of innovation and entrepreneurship in the Sultanate, believing in the pivotal role entrepreneurs play in supporting the country's sustainable development efforts to achieve the national aspirations outlined in Oman Vision 2040. The Entrepreneurship and Innovation Award in Al Dakhiliyah Governorate will act as an incentive for innovation and excellence, and will encourage young people to be proactive and productive. Additionally, it will highlight and promote inspiring entrepreneurial projects and showcase their successful experiences for others to learn from and build upon. We are proud to support such initiatives that contribute to enhancing the entrepreneurial spirit in our youth, and propel innovation for a bright future for the country."

It is worth noting that Bank Nizwa's journey boasts a distinguished record of pioneering initiatives in supporting and empowering entrepreneurship and developing the small and medium enterprises sector. The bank leverages its extensive expertise in Islamic finance by designing innovative banking products and services that act as a strong catalyst in paving the way for the growth of enterprises. This is further enhanced by the provision of guidance and consultations from the bank's highly experienced staff, enabling entrepreneurs to advance confidently in the contemporary business environment and propel their businesses towards new horizons.

Bank Nizwa continues to play a pivotal role in driving sustainable national development efforts and supporting purposeful initiatives that provide a stimulating environment for innovation and excellence for entrepreneurs. In doing so, the bank sets a distinguished example in empowering Omani youth to realize their ambitious aspirations, thereby contributing tangibly to the economic and social progress of the country.