Bank Nizwa approves proposals for new products and services

MUSCAT: Bank Nizwa’s Shari’a Supervisory Board held its 19th meeting since inception to review and assess the bank’s overall Shari’a Governance Framework. During the meeting, which was led by Chairman Shaikh Dr Abdul Sattar Abou Ghuddah, the Shari’a Board approved proposals for the introduction of new products and business propositions to meet the evolving sophisticated financial needs of its growing customer base.

The meeting was also attended by members of the bank’s dedicated Shari’a Division, who were on hand to update the board on its 2017 Shari’a Master Plan. The internal roadmap covers a wide range of Shari’a Structuring and Compliance initiatives designed to support the bank’s end-to-end operations, including the Shari’a Audit plan and Shari’a Training Strategy.

Mohamad Noranuar bin Sajari, Head of Shari’a Structuring at Bank Nizwa, said, “The guidance of our Shari’a Supervisory Board allows us to remain true to the principles of Islamic finance and embed them in all that we do. “ NATIONAL Bank of Oman (NBO) today announced that it will be hosting a special end of year Al Kanz prize draw dinner in which RO1.5 million will be given away, the largest amount to ever be won in the scheme’s history.

The final draw of 2016 for the market-leading product designed to promote a culture of saving in the Sultanate will take place at Royal Opera House Muscat on Friday 13, January, 2017. A’Sayyid Kamil bin Fahd bin Mahmoud al Said, Assistant Secretary-General for the Office of the Deputy Prime Minister for Cabinet Affairs will be in attendance.

John Chang, General-Manager and Chief Retail Banking Officer at NBO, said: “Our loyal customers have been instrumental to NBO’s success over the last 12 months, and to be able to reward them with the largest cash giveaway in Al Kanz history is a great honour. By hosting the event at the Royal Opera House Muscat, we are finishing the year in the same spectacular fashion in which we started it. NBO has set a standard in the market throughout 2016 by encouraging people to save, and I am confident that we will carry this momentum with us into the future.”