Muscat: Alizz Islamic Bank recently won the award for ‘Best Islamic Bank in Shari’a Compliance & Governance in Oman for 2024’ by the World Union of Arab Bankers at the Arab Awards for Commendation and Excellence in Egypt. The award was received on behalf of the bank by Mr. Asaad Al Kharusi, Chief Operating Officer, Mr. Hamed Al Riyami, Head of Strategy and Mr. Mohammed Al Subhi, Legal Advisor & Board Secretary.
Shari’a compliance and governance is the backbone of Alizz Islamic Bank’s commitment to integrity, transparency, and dynamic growth. The bank believes that strong governance is a key driver of sustainability in the financial sector and a reflection of the bank’s values of being ethical in their dealings and collaborative in their approach. This in turn contributes towards the overall strategy of the Bank and being agile in their actions and services.
Touching upon the win Mr. Asaad Al Kharusi, Chief Operating Officer of Alizz Islamic Bank said “We are honoured to receive this international, regional and Arab recognition from the World Union of Arab Bankers. This achievement is a testament of the bank’s dedication to excellence, integrity and adherence to the highest standards in Islamic banking. Through a comprehensive methodology of environmental, social and corporate governance practices, the bank applies the principles of transparency and responsibility across our stakeholders to build strong relations and partnerships with employees, customers, regulators, government agencies, investors, suppliers and society as a whole”
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The World Union of Arab Bankers (WUAB), is an Arab regional organisation founded based on recommendation from the board of directors of the Union of Arab Banks (UAB). This union is a non-profit, non-governmental organisation whose sole purpose is to unify Arab bankers under one operating entity in order to ensure banking literacy in the Arab Banking Community. Members consist of Arab leaders in economics and finance, influential banking pioneers, financial experts, successful businessmen and entrepreneurs but above all bankers; WUAB aims to establish links between said members strengthening their cooperation serving their mutual interests.
