MUSCAT: In a significant step toward expanding its international presence and fortifying its position as a regional leader in Islamic finance, Bank Nizwa, the leading and most trusted Islamic bank in the Sultanate of Oman, has signed a strategic Memorandum of Understanding (MoU) with Omdurman National Bank, one of the Republic of Sudan’s most prominent banking institutions. The agreement aims to foster cross-border collaboration and unlock new growth opportunities in line with both nations’ economic development strategies.

The MoU was formally signed by Professor Abdul Monem Al Tayeb, General Manager of Omdurman National Bank, and Mr. Saif bin Abdullah Al Rawahi, Deputy General Manager – Corporate Banking at Bank Nizwa. The strategic partnership underscores Bank Nizwa’s commitment to expanding its reach across the region, with the aim to bring its unparalleled service quality, knowledge and expertise to regional customer bases, with the aim to accelerate the development and growth of Islamic finance regionally.

Commenting on the occasion, Mr. Khalid Al Kayed, Chief Executive Officer of Bank Nizwa stated:
“This agreement marks a strategic step forward in Bank Nizwa’s international growth journey.
As we expand beyond Oman’s borders, our goal is to deliver Sharia-compliant financial
solutions that reflect the strength and expertise of Omani banking and meet the evolving needs
of high-potential markets.

This collaboration with Omdurman National Bank supports our broader mission of growth through innovation, market diversification, and the pursuit of excellence in Islamic finance.” Echoing the sentiment, Professor Abdul Monem Al Tayeb, General Manager of Omdurman National Bank, remarked, “This partnership reflects a shared commitment to fostering progress, resilience, and inclusive growth. It is about creating lasting value for our institutions, empowering our clients, and supporting the economic wellbeing of our communities. Through this collaboration with Bank Nizwa, we aim to deepen institutional ties, share expertise, and play a more active role in enabling greater financial integration and sustainable development.”

This collaboration between Bank Nizwa and Omdurman National Bank embodies a shared
vision for deeper regional economic integration and sustainable, long-term development.
Rooted in the objectives of Oman’s Vision 2040, the MoU reinforces national ambitions to
establish the Sultanate as a regional hub for innovative Islamic finance, while cultivating
strategic alliances across the wider regional Islamic banking ecosystem.

At the same time, it aligns with Sudan’s ongoing efforts to fortify its financial infrastructure as part of its broader national development agenda. By uniting institutional strengths and fostering cross-border
collaboration, this agreement becomes a strategic enabler for economic diplomacy, capacity
building, and socio-economic growth for both nations and their communities.

Bank Nizwa continues to lead the Islamic banking sector by championing cross-border
collaboration, facilitating the exchange of expertise, and driving sustainable growth. Through
strategic initiatives like this partnership, the bank reinforces its commitment to advancing the
principles of Islamic finance, both within Oman and across dynamic regional markets.