Muscat, March 25th 2015 - Bank Nizwa has been named 'Best Islamic Bank' in Oman at the 6th annual Islamic Finance Awards 2015, organized by World Finance magazine, for its pioneering approach towards spreading greater awareness of Islamic banking in the Sultanate and achieving outstanding growth throughout its two-year journey. The award was based on nominations submitted by banking practitioners and readers of World Finance, a leading publication on financial analytics and global economics based in the UK.

"We are committed to building a solid foundation for Islamic banking in Oman that is based on the highest levels of service, transparency and dedication," said Dr Jamil El Jaroudi, Chief Executive Officer of Bank Nizwa. "This recognition reflects our team's steadfast efforts to position Bank Nizwa as a trustworthy and innovative institution that leads by example within the global banking community. We are leading the way towards a sizeable and thriving future for the Islamic Banking industry, while continually spearheading its growth as a competitive alternative to conventional banking."

Bank Nizwa continues to obtain awards from the global finance market for its fully-fledged range of Shari'a-compliant solutions, its knowledge-based empowerment of local communities in raising the level of awareness in Islamic banking and its proven professionals and their level of expertise. In addition, the Bank has recently achieved its two-year expansion strategy opening ten branches across Oman. To date, Bank Nizwa has won a number of prominent awards including 'Best Islamic Bank in Oman' from Islamic Finance News in 2014, 'Best Islamic Financial Institution in Oman' from the London Sukuk Summit, and the World Finance 100 Award to name a few.

World Finance Awards celebrate achievement, innovation and brilliance on an annual basis with a judging panel featuring experts and industry veteran in finance and business. Nominations for these prestigious Awards were received from readers and practitioners alike and supported by a research team to ensure that nominated institutions are the most deserving in each of their respective sectors.

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About Bank Nizwa
Bank Nizwa is Oman's first dedicated Islamic bank offering a unique banking experience that combines Shari'a compliant products and services with today's dynamic financial requirements. Since its inception in January 2013, the Bank has become a reliable partner to a growing customer-base seeking an alternative to conventional banking. With a number of innovative and competitive propositions, its portfolio ranges from a full suite of personal banking solutions to relationship management and treasury products for global markets.

With less than two years of operations, Bank Nizwa has expanded its reach, opening ten branches across Oman in Muscat, Ghoubra, Al Khoud, Barka, Nizwa, Samail, Sohar, Ibra, Sur and Salalah. As of December 31st 2014, its total assets reached OMR 253 million, representing a 29% growth over the same period in 2013 with shares traded on the Muscat Securities Market (OM: BKNZ). Further information on Bank Nizwa is available on www.banknizwa.om.

For press inquiries and images, please contact:
Shaza Taher
TRACCS Public Relations
Telephone: +968 24 649-099
Email: shaza.taher@traccs.net

© Press Release 2015