Muscat: Bank Nizwa, the leading Islamic bank in Oman, signed a Memorandum of Understanding (MoU) recently with the Cultural Club, to promote cultural awareness among Omanis, and boost the Sultanate’s cultural scene.

The MoU was signed by Khalid Al Kayed, CEO, Bank Nizwa, and Dr. Mahmood Al Sulaimi, Chairman of the Board of Directors of the Cultural Club.

As per the MoU, Bank Nizwa will sponsor the First Storyteller Forum, a first of its kind initiative in Oman. The bank will also sponsor Child Play Production Workshop that aspires to enhance children’s play scripts in the Sultanate.

Additionally, the bank will organise a workshop on Islamic banking in order to raise awareness about this industry. It would also financially support the club in providing trainers, advertisements, scientific material, marketing, printing, and prizes for the Child Play Production Workshop and the Storyteller Forum.

Speaking on the initiative, Khalid Al Kayed said: “Delivering various effective initiatives resonates with Bank Nizwa’s belief in the importance of investing in the communities where we operate and contribute to its development.

“Being the first Islamic bank in the Sultanate, the social responsibility is an integral part of Bank Nizwa’s business philosophy. It is also the approach that we adopt to achieve our endeavors towards giving back to society.

“In line with this strategy, the bank formed several fruitful partnerships with various governmental, private and community entities. These are aimed at supporting Oman Vision 2040 that seeks to develop local societies and create sustainable communities based on knowledge and innovation.

“Through our collaboration with the Cultural Club, we seek to uplift the intellectual, cultural and practical skills of national talents, ultimately creating educated and creative generations that support the national socio-economic development and lead the Sultanate toward a bright future,” he further stated.

Commenting on the partnership, Dr. Mahmood Al Sulaimi said: “We are delighted to partner with Bank Nizwa. We commend their constant support to social institutions and other entities.

“These joint efforts will promote the cultural and intellectual richness of Oman through the programmes and activates organised by the club. Furthermore, this initiative will increase the number of activities the club deliver in various fields such as culture, literary, scientific, artistic and other. Hence, the club will be able to strengthen its bond with the community and achieve its desired objectives.”

Established in 1983 by a royal decree, the Cultural Club aims to strengthen the cultural and social ties between intellectuals and innovators in various fields that include culture, art, and others.

Additionally, the club aspires to spread cultural awareness through conducting seminars, lectures, cultural evenings, and art exhibitions as well as collaborating with stakeholders and scientific centers inside and outside the Sultanate. Furthermore, inviting Arab intellectuals and pioneers in “literary” to organise exhibitions or participate in cultural evenings.

As a responsible corporate citizen, Bank Nizwa formed many strategic partnerships and delivered various effective initiatives that aim to add value for local communities and improve the welfare of people. These efforts were recognized in the Global Islamic Finance Award ceremony where Bank Nizwa won the ‘Investors in Society’ Award.