In recognition of its role in spearheading the growth of Oman’s Islamic Finance industry, Bank Nizwa won the prestigious ‘Best Performing Islamic Bank in Oman’ award at the 2015 World Islamic Banking Conference (WIBC) held recently in Bahrain.
The accolade was awarded to Bank Nizwa for excelling across three judging metrics that included Financial Stability, Financial Performance, as well as Governance and Social Responsibility; all part of the WIBC Leaderboard, an assessment tool specifically designed to gauge and list best performing banks.
On the occasion, Dr. Jamil El Jaroudi, CEO of Bank Nizwa, said, “It is an honor to receive such an esteemed award that is assessed according to the renowned ICD Thomson Reuters Islamic Finance Development Indicator and Bankscope. This win is another respected achievement for Bank Nizwa that demonstrates the determined efforts of the entire team to innovate and drive our growth, as well as that of Islamic Finance in Oman.”
Dr. El Jaroudi added, “We will continue to elevate our performance and offer a competitive range of products and services that meet the evolving requirements of our expanding customer base.”
Now in its 22nd edition, the WIBC is the world’s largest and most influential gathering of international Islamic banking and finance leaders. In addition to 18 Performance Awards that were granted to the top Islamic financial institutions from around the world, the conference featured a special panel discussion titled ‘CEO Power Debate’. Taking part in this panel was CEO of Bank Nizwa who was joined by other industry experts to discuss the outlook and trends shaping the Islamic Finance sphere on both regional and global levels.
Bank Nizwa has won four awards since the beginning of 2015 alone. In addition to being named the ‘Best Performing Islamic Bank in Oman’ by WIBC, the Bank received the ‘Best Islamic Bank in Oman’ title at the 6th annual Islamic Finance Awards, the ‘Best Employee Retention & Motivation Program’ award at the annual Middle East Call Centre Awards and was recently honored with the ‘Strongest Islamic Retail Bank in Oman’ title at the 7th World Islamic Retail Banking Conference.