Bank Nizwa Wins Al Roya Economic Vision Award 2023 for Smart Digital Transformation

Muscat. Distinguished as a trailblazer in innovation, Bank Nizwa, the leading Islamic bank in the Sultanate of Oman, was recently honoured with the prestigious Al Roya Economic Vision Award 2023 for Smart Digital Transformation. This prestigious accolade not only underscores the pivotal role the bank plays in propelling the country’s digital transformation agenda but also serves as a testament to its adeptness in embracing cutting-edge technology to elevate customer experience.

Organised by Al Roya, the award ceremony was held under the patronage of His Excellency Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion. Representing Bank Nizwa at the event was Mr. Mujahid Al Zadjaly, General Manager of IT & Operations.

Commenting on receiving the award, Mr. Mujahid Al Zadjaly said, “This recognition serves as both validation and motivation, inspiring us to continue pushing boundaries and establish new benchmarks in Islamic banking. Our commitment to digital innovation is more than a strategy; it is driven by the belief that embracing smart technologies is not just a means to stay relevant but the key to unlocking economic resilience. Bank Nizwa has consistently kept pace with the latest advancements, often pioneering innovative solutions that have played a pivotal role in levelling up customer experience, and ensuring sustainable growth.”

Elaborating on this, he said, “Through substantial investments in our digital infrastructure and a foresighted approach, we have elevated customer experiences, optimised operational efficiency across all parameters, and fostered growth by strategically tapping into emerging opportunities. At the core of our ethos lies a profound recognition of the transformative potential inherent in technology.”

Bank Nizwa, driven by innovation, conceptualises and implements enriching products and services that add value to the lives of its customers. With a mobile application that is continuously updated with new features, and digital branches at key locations, the bank has made Islamic banking more convenient, and accessible, ensuring a seamless and contemporary banking experience for its customers. A notable stride in this direction is the introduction of digital onboarding for Minor accounts, which enables parents to open Sharia-compliant accounts for their children from the comfort of their homes, offices, or on the go. Beyond ease of access, this initiative reflects Bank Nizwa’s commitment to providing hassle-free digital banking solutions in line with the evolving needs of its customers.

At Bank Nizwa, while the ethos of innovation pervades both products and services, as a keen advocate of FinTech, the bank has been at the forefront of supporting exhibitions like COMEX, thereby advancing the frontiers of technological progress within the sector. The bank’s digital initiatives align seamlessly with Oman Vision 2040, the nation’s strategic roadmap for sustainable development. By prioritising smart digital transformation, the bank has actively contributed to the overarching goals of economic diversification, innovation, and enhanced financial inclusion.

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