Bank Nizwa participates in the first Oman Franchise Expo & Conference
As part of its long-standing commitment to support SMEs in Oman, Bank Nizwa sponsored and participated in the inaugural Oman Franchise Expo and Conference. Held at the Grand Hyatt Muscat under the patronage of H.E. Saeed bin Saleh Al Kiyumi, Chairman of the Oman Chamber of Commerce and Industry (OCCI), the two-day event provided an opportunity to explore entrepreneurial prospects, meet prospective business partners, and discover new franchise opportunities.
Additionally, Bank Nizwa’s dedicated SME Banking unit was on hand to provide small businesses with an overview of its tailored products and services. Among the many Shari’a-compliant solutions they shared with attendees were Mudaraba, Murabaha, Wakalatul Bil Istithmar, Istisna, trade finance and Diminishing Musharaka.
Mr. Khalid Al Kayed, Acting CEO of Bank Nizwa said, “As Oman’s entrepreneurial community continues its rapid growth, SMEs are playing an increasingly important role in the development of a wide range of sectors and industries. Forming 90 percent of all corporate businesses, their continued expansion is integral to the Sultanate’s future. To that end, we supported in organizing this conference to help SME owners connect with potential partners and take trade, growth and collaboration to new heights.”
Bank Nizwa has continuously strived to foster Oman’s entrepreneurial spirit through Shari’a-compliant solutions designed to spur growth and guide business development. The Bank’s dedicated SME Banking Unit has tirelessly spearheaded its efforts, using its expertise to rapidly acquire a portfolio of over 3 million OMR since its establishment in October 2015.
The formation of Bank Nizwa came about with the Central Bank of Oman granting its initial approval to the licensing of the Bank to Sheikh Saud bin Ali Al Khalili. Sheikh Saud and a further 92 other Omani individuals, companies and pension funds constitute the founder shareholders of the Bank.
Bank Nizwa is Oman’s first dedicated Islamic bank, with fully Shari’a compliant products and services.
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