Muzn Islamic Banking Named the Banker’s Islamic Bank of the Year – Oman 2021
Muzn, National Bank of Oman’s (NBO) Islamic banking window, has been named Islamic Bank of the Year - Oman 2021 by globally renowned finance publication, The Banker. The award, which has been running for the past nine years and attracts submissions from institutions all over the world, was given to Muzn in recognition of its leading position in Islamic finance in the Sultanate, its pioneering role in digital innovation, and its efforts to drive growth in the sector.
Salima Al Marzooqi, Chief Islamic Banking Officer (CIBO), commented, “Despite being a relatively new sector in Oman, Islamic banking has had impressive growth and has captured significant market share. As Muzn continues to build on the precedent we have set over the last eight years, we are expanding our portfolio to meet the needs of an ever-evolving market, promoting digital transformation in the industry, and encouraging more people than ever to discover the advantages of Sharia’-compliant banking.”
Since its establishment in 2013, Muzn has steadily cemented its position as a key player in the sector, and forms a strategic part of the bank's fast-growing business segment. Continuing to offer innovative, competitive and quality Islamic banking products and services while ensuring they are accessible to all, Muzn has won a number of awards, which most recently include being named among the Best Islamic Banks in Oman 2020 by Islamic Finance News, the Best Islamic Window - Oman 2020 at the Global Business Outlook Awards, as well as a triple win at the WOMANi awards for three female team members who were named among the top 300 most influential women in Islamic business and finance.
National Bank of Oman
Founded in 1973, National Bank of Oman was the country’s first local bank, forging a rich history with Oman’s local businesses and its economy at large. Today, it is one of the largest banks in Oman, with a paid up capital of OMR (Omani Rials) 110.8 million (US$ 288 million) and a regulatory capital of OMR 377.8 million (US$ 981 million)*.