Bank Nizwa, Oman's first dedicated Islamic bank, formally opened its doors to the public making history for the Sultanate's financial services industry. This pioneering initiative by Bank Nizwa signifies the start of a new era for banking in Oman. The launch was announced soon after the release of the Islamic Banking Regulatory Framework (IBRF) by the Central Bank of Oman (CBO).
Commenting on the occasion, Sayyid Amjad Mohammed Ahmed Al Busaidi, chairman of board of directors, Bank Nizwa, said "We are grateful to His Majesty Sultan Qaboos bin Said for his visionary leadership that made Islamic banking a reality in Oman. The Islamic banking regulatory framework, laid down by the CBO has positioned the economy of the nation towards achieving greater success. The launch of Bank Nizwa will propel Islamic banking and the economy of Oman to a higher level of development. "
Times of Oman | Bank Nizwa is first in Oman to open doors for Islamic banking
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