MUSCAT : A key highlight of the event was the Themar Islamic Banking Excellence Awards, which were presented to the winners by Chief Guest His Highness Sayyid Numair bin Salim Al Said.

The awardees were chosen for their achievements in innovation, governance, customer service, and Sharia compliance by an independent jury chaired by His Highness Sayyid Dr. Adham Al Said, Assistant Professor at Sultan Qaboos University. The committee featured Dr. Siham Al Harthy, Board Member of the Oman Chamber of Commerce and Industry; Dr. Ashraf Al Nabhan, former Chairman of the Muscat Securities Market; and Dr. Ahmed Kashoub, Chairman of the Index Center for Economic and Financial Consultations.

Centred around the theme ‘Islamic Financial Transactions and Economic Stability’, the main conference served as a dynamic platform to explore the evolving role of Islamic finance in fostering sustainable economic growth, digital transformation, and Sharia-compliant innovation.

Backed by Bank Nizwa as the powering partner, and with Meethaq Islamic Banking and Ahli Islamic as main sponsors, the event also received the support of Credit Oman, reflecting the growing institutional commitment to Islamic financial excellence in the Sultanate.

In his welcome address, Omair bin Mohammed Al Julandani, Business Development Manager at TAS, highlighted the importance of such platforms in driving meaningful dialogue and sector growth.

This was followed by a keynote speech from Khalid Jamal Al Kayed, CEO of Bank Nizwa, who explained that the bank is working to promote the growth of other Islamic financial sectors, including the Waqf (Endowment) sector. “To this end, the bank launched the first dedicated Waqf department in the Islamic financial sector. This department works to extend a helping hand to Waqf institutions to enhance their knowledge-based and financial capabilities,” he stated.

In his expert presentation, Ali bin Ahmed Al Lawati, Assistant General Manager of Meethaq Corporate Banking, noted that Islamic finance sector, currently valued at USD 5.5 trillion, is expected to grow to USD 7.5 trillion by 2028. The halal food sector alone, valued at USD 1.4 trillion in 2022, is projected to reach USD 2 trillion by 2027, while Islamic fashion, cosmetics, and pharmaceuticals also continue to grow at a rapid pace, he indicated.

Nora Sabah Sultan, Assistant General Manager and Head of Retail Banking at Al Ahli Islamic Bank, also presented a key working paper, highlighting the bank’s launch of Oman’s first Islamic Liquidity Fund, now exceeding RO 50 million in assets.

Representing the Judging Committee Dr. Siham Al Harthy, Board Member of the Oman Chamber of Commerce and Industry, delivered a speech before the presentation of ‘Themar Islamic Banking Excellence Awards’. She lauded the high quality of submissions, highlighting their commitment to Sharia principles and their role in advancing the national Islamic economy. She emphasised that the entries reflected “broad vision, depth of thought, and excellent commitment to the lofty principles of Islamic Sharia.”

Speaking on the sidelines of the conference, Nishad Padiyarath, CEO of TAS, conveyed gratitude to the Chief Guest, the lineup of inspiring speakers, the judging committee, patrons from the banking sector, conference panellists and the attendees from diverse financial fields. “Hosting this event for the second consecutive year has been an incredibly rewarding experience. Gathering leading voices in the industry to engage in meaningful dialogue on Islamic financial transactions and economic stability reflects our commitment to excellence,” he stated.

The panel discussions following strategic speeches drew participation from key figures including Mohammed Al Hashmi (Bank Nizwa), Zainab Al Lawati (Ahli Islamic), Issa Al Suqri (Meethaq), Sheikh Khalil Al Harthy (Credit Oman), and representatives from the Ministry of Endowments, Oman National Investments Development Company, and Takaful Oman.

The conference concluded with a networking lunch, offering attendees an opportunity to build new partnerships and continue the dialogue on strengthening Oman’s Islamic finance ecosystem.

Organisers and participants alike hailed the event as a success, reiterating their commitment to nurturing Islamic finance as a pillar of economic development — in line with Oman Vision 2040 and the Sultanate’s growing stature as a regional hub for ethical and sustainable finance.

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