Bank Nizwa’s Participation in Oman Sustainability Week 2024 Highlights Commitment to Sustainable Development

Muscat: Reaffirming its commitment to driving impact in the realm of sustainability, Bank Nizwa, the leading Islamic bank in the Sultanate of Oman, participates in Oman Sustainability Week (OSW) 2024, held under the patronage of His Excellency Eng. Salim bin Nasser Al Aufi, Minister of Energy and Minerals, in the presence of several dignitaries, officials, and interested parties. This year’s Oman Sustainability Week, held at the Oman Convention and Exhibition Centre from 29 April to 1 May, 2024, under the theme of ‘Sustainable living in a circular society’, serves as a pivotal platform, showcasing advancements in energy, water, waste management, future mobility, environment, and society. As a responsible financial institution deeply grounded in the principles of Sharia, Bank Nizwa, through its dedicated booth, hosted various workshops focusing on topics such as Islamic finance and sustainability.

Commenting on the bank’s participation at the event, Mr. Khaled Al Kayed, Chief Executive Officer at Bank Nizwa, said, “Our involvement at OSW aligns with the bank’s strategic vision, recognising the imperative of sustainability in driving economic prosperity and societal well-being. It underscores our dedication to environmental stewardship and social responsibility. As a forward-looking bank, we strive to continuously elevate our sustainability framework while fostering crucial dialogues with stakeholders, driving substantive action, and solidifying our position as a leader in the sector. By playing a proactive part in OSW, Bank Nizwa reaffirms its position as a catalyst for positive change within the financial landscape and the broader community. Through collaboration, innovation, and responsible investments, we endeavour to create a more sustainable future for generations to come.”

In recognition of pioneering sustainability initiatives, Bank Nizwa was awarded the Oman Sustaibility Week – Bronze  Award, which was received by Ms. Tahani Al Alawi, Deputy Manager Sustainability and CSR, on behalf of the bank. This honour is a testament to the diligent efforts undertaken by the bank in spearheading sustainability in the Islamic finance landscape in the Sultanate of Oman. Bank Nizwa’s participation embodies its commitment to achieving sustainable development, which in turn contributes to economic growth. It also reflects the bank’s strong dedication to supporting the Sultanate’s efforts to realize Oman Vision 2040, which prioritizes sustainability and sustainable development. Through its design of innovative financial products and services, notably the Sustainable Finance offering for institutions, which incentivizes businesses to adopt more sustainable models, and Sustainable Finance for individuals, aimed at promoting sustainable practices among the general public, in addition to environmentally friendly banking cards, the first of their kind in the Islamic finance sector in the Sultanate.

It is worth mentioning that Bank Nizwa is a pioneer in the sustainability landscape in the banking sector, making notable efforts to incentivize the sector towards sustainability by developing strategies aligned with sustainable development goals. Bank Nizwa is the first bank to disclose environmental, social, and governance practices on the Muscat Stock Exchange. Additionally, the bank issued its first sustainability report during this year, emphasizing transparency and responsibility in banking operations.

Through the seamless integration of sustainability principles into its operations, products, and services, and by actively participating in prominent industry events, Bank Nizwa stands well-poised to continue leading the way in sustainable banking practices.

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