Reinforcing Leadership in the Banking Sector, Bank Nizwa Celebrates Double Wins at New Age Banking Summit 2023

Muscat: Bank Nizwa, the leading Islamic bank in Oman, showcased its commitment to driving digitalisation and revolutionising the FinTech landscape at the highly anticipated New Age Banking Summit 2023.  The bank’s unwavering commitment to innovation and exceptional service has earned it the esteemed title of ‘Best Bank in the Mid-Size Banks’ category, as recognised by the renowned OER Report on the Best Banks in Oman. Additionally, the bank was also awarded the ‘Industry Leadership in Innovative Islamic Banking Services’ title. Hosted by His Excellency Shaikh Salim Bin Mustahail Al Mashani at Sheraton Oman Hotel, the distinguished Chief Guest and Keynote Speaker, H.E. Tahir Al Amri, Executive President of the Central Bank of Oman, presented Bank Nizwa with these esteemed awards.

As the “Islamic Banking Partner” of the summit, Bank Nizwa solidified its position as a trailblazer in the financial sector by actively participating in the event. The New Age Banking Summit, renowned for its focus on cutting-edge banking practices and disruptive technologies, provided an ideal platform for Bank Nizwa to highlight its innovative solutions and contributions to the industry. The bank’s involvement included a panel discussion on the topic of “Navigating the Digital Age of Banking” featuring Mujahid Al Zadjaly, General Manager of IT & Operations, as a prominent speaker. Additionally, Sadiq Al Lawati, Head of Digital, eSales and Payments, delivered a presentation on the collaboration of FinTech with banks, shedding light on Bank Nizwa’s efforts in this area.

Mr Khaled Al Kayed, Bank Nizwa’s Chief Executive Officer said, expressed his delight, saying, “We are thrilled to have received these prestigious awards at the New Age Banking Summit 2023. These accolades underscore our commitment to delivering exceptional banking experiences and driving digital transformation. At Bank Nizwa, we continuously strive to enhance our digital services, adopt the latest technological updates and provide innovative solutions to meet the evolving needs of our customers. These awards serve as a testament to the dedication and hard work of our team.”

“As part of its ongoing efforts to digitise our operations, Bank Nizwa has implemented advanced technologies such as artificial intelligence and data analytics, enabling the bank to gain deeper insights into customer preferences and behaviours. By harnessing the power of these technologies, Bank Nizwa can offer personalised financial solutions, optimise its operations and deliver unparalleled customer satisfaction,” he added.

Bank Nizwa’s FinTech efforts are evident in its integration of technology with Islamic banking, allowing clients to bank from the comfort of their own homes. The bank is committed to maintaining healthy customer relationships across every banking channel by developing trust, relevance and convenience. Advanced security mechanisms secure these channels, ensuring the safety of all private information. Through its robust digital platforms and user-friendly interfaces, customers can conveniently and securely access a wide range of banking services, including mobile banking, online banking and the innovative digital-only bank branch. Bank Nizwa’s investments in digitalisation have resulted in enhanced efficiency, greater accessibility and personalised experiences for its customers. The bank has brought innovations and new capabilities, aided by increased use of big data and improved customer research.

Bank Nizwa’s success at the New Age Banking Summit 2023 not only recognises its achievements in driving digitalisation but also highlights the bank’s commitment to excellence in Islamic banking. With a customer-centric approach, Bank Nizwa continues to lead the way in shaping the future of banking in Oman, combining innovation, technological advancements and a steadfast dedication to the principles of Islamic finance.