Bank Nizwa Named Strongest Islamic Retail Bank in Oman 2023 by IRBA for Third Consecutive Year

Muscat: Solidifying its position as the leading and most-trusted Islamic bank in the Sultanate of Oman, Bank Nizwa was recently honoured with the title of ‘Strongest Islamic Retail Bank in Oman 2023’ at the 9th edition of the Islamic Retail Banking Awards (IRBA) held in Manama, Bahrain. The accolade is a testament to the bank’s commitment to achieving excellence through the innovation of ground breaking products and services designed to cater to a wide spectrum of customers.

The prestigious award was received by Mr. Mohamed AlGhassani, Deputy General Manager of Retail Banking, Bank Nizwa, on behalf of the bank. Notably, this marks the third consecutive year of receiving this accolade, following previous wins in 2022 and 2021. The event also witnessed the presence of esteemed dignitaries and top executives from the regional banking and business sectors.

Commenting on the occasion, Mr. Mohamed AlGhassani said, “This distinguished accolade is a reflection of our dedication to delivering cutting-edge Sharia-compliant solutions to our expanding customer base. Our strides in retail banking, fuelled by digitalisation, pioneering financial solutions, and strategic collaborations, have helped us deliver superior levels of performance and robust results.”

He added, “With innovation at the core of our endeavours, we are dedicated to spearheading financial solutions that not only propel the growth of the Islamic banking industry in the Sultanate, but also resonate with the dynamic needs of our valued customers.”

IRBA is a distinguished platform that honours individuals and institutions for outstanding contributions to the Islamic retail banking sector. IRBA winners undergo a rigorous evaluation process and are assessed by an independent panel of experts based on the Cambridge IFA’s efficiency model.

Bank Nizwa has remained responsive to the needs of customers across diverse segments. With the launch of the first-of-its-kind Sharia-compliant Minor Account and eco-friendly card offerings, the bank continues to set new benchmarks within the Islamic finance landscape. Apart from an expansive branch network that is fully equipped to cater to customers’ banking needs, the bank also continues prioritizing the efficient digitalization of services with a robust mobile application that makes the bank’s services accessible to all on the go.

Bank Nizwa’s success is linked to the introduction of pioneering financial instruments and its ability to integrate them into its retail banking portfolio. With a commitment to persistent innovation, the bank is reshaping the Islamic banking sector, and showcasing a fusion of financial ingenuity and unwavering customer-centricity.