Islamic finance offers a promising future

Khalid Al Kayed

Khalid Al Kayed

Chief Executive Officer , Bank Nizwa

Since Islamic finance was launched in Oman four years ago, we have witnessed the sector’s rapid growth at every level. Through innovation and collective efforts of all players to raise awareness in every part of the sultanate, Islamic finance is gaining momentum as part of people’s lives and the future of Oman’s banking sector. Today, however, we face a number of unique challenges as we cement the sector’s growth and development, namely the shortage of skilled professionals equipped with knowledge of Shari’a-compliant banking and its values. The sector is looking to employ more specialists and we definitely see the shortage in graduates trained in Islamic finance as a real opportunity in order to organically grow the sector.

To overcome this challenge, Bank Nizwa has invested heavily in training staff, nurturing their growth and knowledge through more than 700 training opportunities including interactive workshops, training sessions, and strategic conferences. We believe Omanis are the future of Islamic finance and through our human resources department, we constantly strive to enrich staff with best practices, certificated courses, domestic and international conferences to boost their experience.

An effective succession planning and talent management system is in place to ensure they fulfill their potential as our leaders of tomorrow. We are determined to ensure every member of our extended family enjoys a rewarding career, one that promises more prosperity for Oman.

However, our priority is not just to improve the capabilities of our staff but to develop a talent pipeline that will supply the sector with expertly trained, innovative young graduates. To that end, we have led the way in tying up with universities and other educational institutes in Oman to deliver courses that arm students with the industry’s principles, development and unprecedented growth in the sultanate. Our team of experts continues to provide specialised workshops that instill the theoretical and practical aspects of Shari’a-compliant banking and finance in all walks of life across the country.

Our mission of producing world-class talent for Oman’s Islamic finance sector has allowed us to emerge as a knowledge leader for developing professionals and specialists in the field to sustain market competitiveness and take on the future challenges in the industry.

Islamic finance offers a promising future
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