Economy
Bank Nizwa Scoops Best Islamic Bank In Oman Award

Bank Nizwa received the Best Islamic Bank in Oman Award from Islamic Finance News (IFN) during a recently held ceremony in Dubai. The prestigious award was received on behalf of the bank by Salim Rashid Al Maharbi, Chief Financial Officer of Bank Nizwa. More than 400 industry leaders from around the world attended the awards event.
Al Marhabi said, “As Oman’s first dedicated Islamic bank, with fully Shari’a- compliant products and services, Bank Nizwa continues to go from strength to strength and is now the leading Islamic financial institution in Oman. Our customers’ interests are always our main priority and we are employing the latest technologies to ensure they have access to the best service possible. This award recognizes our efforts and spurs us on to achieve even more.”
Bank Nizwa recorded the highest growth rate in the Sultanate’s banking industry with OMR 7.5 million in net profit representing a 98% growth after tax for the period ended 31 December 2018. In addition, the bank’s total assets grew by 25% to reach OMR 873 million compared to OMR 697 million last year, while its total customer deposit portfolio reached OMR 712 million achieving a growth of 35% year-on-year.
The bank has clocked up a huge list of local, regional and international awards over the years, including the ‘Strongest Islamic Retail Bank’ in the Sultanate at the Islamic Retail Banking Awards (IRBA) 2018 for the fourth consecutive year, and ‘Islamic Bank of the Year’ by the leading Corporate Livewire Finance Awards, and ‘Excellence in CSR in Islamic Finance’ award at the regional Corporate Social. Additionally, Bank Nizwa’s CEO, Khalid Al Kayed, was named ‘Islamic Banker of the Year’ at the 7th Global Islamic Finance Awards 2018.
-
Banking & Finance2 days ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
OER Magazines2 months ago
OER, April 25
-
Alamaliktistaad Magazines2 months ago
Al-Iktisaad, April 25
-
Renewables1 month ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Business2 months ago
St. Petersburg International Economic Forum 2025 unveils its Business Programme
-
Leaders Speak1 month ago
OERLive SPOTLIGHT: Oman Sustainability Week 2025 and Oman Petroleum & Energy Show
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, May 25
-
OER Magazines4 weeks ago
OER, May 2025
You must be logged in to post a comment Login