Speaking at the inaugural Bank Nizwa ‘Islamic Banking Knowledge Forum’ His Excellency Yahya bin Said Al Jabri, Chairman, Duqm Special Economic Zone Authority strongly emphasized that Islamic finance education, training and research expertise must be promoted in order to support the needs of the industry.
His Excellency Al Jabri attended the Bank Nizwa forum as a chief guest, which gathered together industry veterans and key business leaders from the corporate and private industry across the Sultanate which took place at the Shangri La Barr al Jissah.
The forum was a groundbreaking effort by Bank Nizwa, as Oman’s first Islamic bank, to create a space to examine the impact of Islamic finance and banking on the economy of Oman and design a roadmap for a successful future.
Attendees from public and private sectors immersed themselves in highly informative and useful presentations given by some of the most influential and expert specialists in the field of Islamic finance including Dr. Sayd Farook (Global Head Islamic Capital Markets Middle East and Africa Thomson Reuters) – Moderator, Dr. Khalid Al Fakih (Secretary General of AAOIFI) and Mr. Najmul Hassan (Director Remedial Asset Management unit of Islamic Corporate for the Development of the private Sector ICD). The presentations were followed by a panel discussion by the members including the Bank Nizwa CEO, Dr. Jamil, which brought to light challenges and benefits of Islamic Banking to corporate sector, economic value of Islamic Banking and other important topics.
Speaking at the forum Dr. Jamil El Jaroudi, CEO Bank Nizwa said, “As the first Islamic Bank in Oman we continue our efforts to spread greater awareness and understanding of how Islamic finance can fulfill the needs of customers. We can harness the full potential of Islamic banking, and continue to develop products and services to help it evolve into a key component of the growth of Oman.”
This was the first in a series of forums to be hosted by Bank Nizwa to build public awareness of Islamic finance and banking in order to increase its market share and create a favorable environment for it amongst businesses which will in turn attract and support individual investors in a Shari’a compliant manner. Bank Nizwa will collate and explore the findings from this forum to further develop the industry as it forges ahead.
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