Bank Nizwa CEO named ‘Islamic Banker of The Year’ at Global Islamic Finance Awards

Bank Nizwa is a pioneer in the Islamic banking sector offering customers a suite of Shari’a-based products and services

MUSCAT: Bank Nizwa CEO, Khalid Al Kayed, has been named ‘Islamic Banker of the Year’ at the 7th Global Islamic Finance Awards 2018. The accolade recognises Al Kayed as an outstanding corporate leader, committed to driving stronger growth for Bank Nizwa as Oman’s first fullyfledged Islamic bank. Today and under his guidance, Bank Nizwa is a pioneer in the Islamic banking sector offering customers a suite of Shari’a-based products and services that compete with conventional banking.

Khalid Al Kayed, CEO of Bank Nizwa said, “It is a great honour to be recognised by one of the most prestigious awards in Islamic finance. While this is an individual career achievement, it is a reflection on my team’s steadfast efforts to provide the highest levels of service, transparency and dedication in order to ensure Bank Nizwa leads by example as one of the most trusted and innovative banks in Oman.

“I will take this recognition as a further testament to our efforts at Bank Nizwa to continue laying the foundation for a thriving Islamic banking industry.”

The CEO is responsible for driving Bank Nizwa’s solid financial and operational performance, overseeing major corporate decisions as well as managing overall operations and resources.

He oversees all aspects of the bank’s business segments in line with Islamic finance principles including its progressive Shari’acompliant portfolio of products and services.

Working hand-in-hand with the Board of Directors, Al Kayed leads the management team to further build the Bank Nizwa brand and its corporate and retail customers’ portfolio across various industries. He is also leading the bank’s ongoing and new initiatives and programmes to raise awareness on the benefits of Islamic finance to the wider public across Oman.

He added, “Success of any organisation requires development of a leadership culture and philosophy. It’s about having a model that enables the team to thrive and grow.

“Therefore, I would like to take this recognition as an inspiration to the entire team to look for more successes on both individual and team levels.”

A financial industry veteran with over 25 years under his belt, Al Kayed served as Acting Chief Executive Officer and Chief Financial Officer in Bank Nizwa. Prior to joining the bank, Al Kayed held various posts in a host of wellrespected financial institutions including Deputy Chief Executive Officer & Chief Financial Officer at Jordan Dubai Islamic Bank and Chief Financial Officer at Standard Chartered Bank Jordan.

His expertise ranges from banking management, financial control, accounting, risk management, and asset liability among other fields.

Celebrating excellence in Islamic finance, the announcement takes into consideration the CEO’s achievements in the remarkable Bank Nizwa five-year journey so far.

The bank recorded an increase of 3,343% in net profit after tax to OMR3.8 million for the financial year that ended 31 December 2017, achieving the highest growth rate in the Sultanate’s banking industry.

The bank has also been committed to raising awareness of Islamic finance across Oman.