Complex Made Simple

Bank Nizwa provides youth of Nizwa College of Technology with insight into Islamic finance

Bank Nizwa recently organized a special session with the students of Nizwa College of Technology to deliver an introductory, yet comprehensive overview of Islamic banking, how it is evolving within the Sultanate and the associated benefits of Islamic finance in relation to the real economy.

Attended by over 40 students and academic staff, the discussion was led by Mohamad Noranuar Sajari, Senior Manager of Shari’a Compliance who outlined some of the bank’s key products and services, demonstrating how they offer unique propositions for people at every stage of their lives.

“Oman’s population comprises largely of youth. It is therefore imperative that we provide them with a solid understanding of how Islamic banking presents financial solutions for them now and in the future. Whether it is performing Shari’a compliant transactions in general, opening a new account, buying a car or constructing a house, our products and services can suit their financial needs and help them lead financially secure lifestyles in accordance with their beliefs,” said Mohamad.

Committed to providing people of Oman with a transparent understanding of what is dynamically changing the financial landscape of the Sultanate, the session highlighted four main topics, including the principles and objectives of Islamic finance; how Islamic banking can create the foundation for a fully-fledged Islamic economy; and the differences between the Islamic and conventional banking sectors.

Bank Nizwa’s strategy is to raise awareness on Islamic banking and its benefits across all communities in Oman through continuous collaboration with organizations and institutes in both the public and private sector. In addition to this latest session, the bank has recently partnered with Youth Vision, a local non-government organization responsible for youth development programs, to underscore the importance and benefits associated with the growing industry and will continue building on this momentum with more tie-ups throughout the coming year.