Bank Nizwa launches the first Sharia compliant sustainable finance

by | Nov 15, 2023 | 0 comments

MUSCAT – Committed to chart a strategic path towards a more sustainable future, Bank Nizwa has consistently assumed a pioneering role in spearheading green initiatives that have tangible, far-reaching implications on the macroeconomic landscape. In accordance with this unwavering dedication, the leading Islamic bank in the Sultanate of Oman recently announced the launch of a comprehensive suite of Islamic green financing solutions for home, automotive, and personal finance.

In continuation of Bank Nizwa’s efforts to enhance environmental awareness and encourage individuals to make sustainable environmental decisions, sustainable financing offers a competitive profit rate and reduced processing fees which make it an attractive option for those looking for financing solutions that combine environmental awareness with wise financial decisions.
Excited to announce the new Islamic Green Finance offering, Mr. Khaled Al Kayed, Chief Executive Officer at Bank Nizwa said, “The approach we adopt towards addressing environmental challenges in the upcoming decade will significantly shape the impact we have on our planet and on the wellbeing of the future generations. In this regard, it is imperative to acknowledge the pivotal role that financial institutions play in encouraging and enabling the essential shift toward a sustainable future. As an Islamic bank deeply rooted in the principles of Sharia, inclusivity, and environmental stewardship, Bank Nizwa considers this duty a fundamental cornerstone of its operations.”

He added saying, “Having established a commendable presence in the country and serving a substantial customers, we understand the strong influence we exert in the economy, society and environment. Hence, it is our responsibility to steer the transition toward a low-carbon society. Our innovative green finance will not only make sustainable finance a more competitive and accessible option but also catalyse the ‘green multiplier effect,’ wherein both the economic and environmental domains thrive in harmonious synergy.”

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