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Wednesday, October 22, 2014  

Bank Nizwa celebrates launch of Islamic bank
Staff Reporter

MUSCAT Bank Nizwa, Oman’s first dedicated Islamic bank, on Monday celebrated its official launch into the Omani market.

HH Sayyid Shihab Bin Tariq Al Said, Personal Adviser to His Majesty Sultan Qaboos Bin Said, was the chief guest at the special reception held at the bank’s head office at Shatti Al Qurum.

Those present included the founders, members of the board, executive management team from the bank, media representatives and various dignitaries from across the Sultanate.

Sayyid Amjad Mohammed Ahmed Al Busaidi, Chairman, Board of Directors, Bank Nizwa, welcomed guests and thanked His Majesty for his visionary leadership that has made Islamic banking a reality in Oman.

“Throughout history there have been defining moments which have brought about growth and prosperity in Oman. It takes a lot of foresight and courage to follow a dream and bring it to fruition. For a long time we have aspired to fulfil the dream of having a fully Sharia compliant banking facility and we at Bank Nizwa have worked tirelessly to make that dream a reality. I am proud today to celebrate with you the successful opening of our very own fully dedicated Islamic bank,” he said.

Dr Jamil El Jaroudi, CEO of Bank Nizwa, said: “At Bank Nizwa, we have an unwavering commitment to Islamic banking and we look forward to assisting our customers with their financial needs. The openings of our branches here at Qurum and also in Sohar and Nizwa, are a significant step in the expansion of our financial footprint and we will continue to invest in our growth, as we further develop our presence across Oman. We will always act upon the needs of our customers, delivering the Sharia-compliant products and services that they require in order support their current and future financial needs.”

An audio visual presentation of Bank Nizwa from its very inception was showed at the function. The audience were also led on a very informative tour of the head office branch.

Since opening its doors on January 10, Bank Nizwa has welcomed a large number of customers.

It is the first bank in the Sultanate to provide services like account opening through identity cards for Omanis and resident identity cards for expatriates; instant issuance of personalised ATM cards and instant issuance of personalised cheque books.

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