Bank Nizwa Brings Islamic Banking Closer to Corporate Customers

Reinforcing its strategy to offer an excellent customer service experience, Bank Nizwa recently launched its ‘Islamic Banking for Business’ Series. The roadshow, which is tailor-made to corporate and institutional customers, will see its experts either host or visit current and prospective customers to share with them an overview of Islamic banking, while raising awareness about Islamic finance and its potential in growing businesses.

The series provides an in-depth presentation given by the Bank Nizwa’s Wholesale Banking division. It includes an introduction to wholesale banking, retail banking and Islamic banking in general. In addition, experts will be highlighting the comparison between Islamic banking and conventional banking practices. The presentation also incorporates an overview and special features of wholesale banking products offered by Bank Nizwa. Another part showcases how the bank is moving away from manual operations towards transaction banking, an electronic banking channel that will support online banking with advanced features specifically servicing corporate customers.

“The pace and scale of investment is picking up in Oman in key sectors, including real estate, manufacturing and tourism to name but a few,” said R. Narasimhan, General Manager of Wholesale Banking at Bank Nizwa. “We are transforming our product portfolio to a high-performance culture that ensures customer satisfaction and market share improvement. We are embarking on this roadshow with our current and prospect corporate customers to further understand their requirements and more importantly, share with them how Islamic finance and banking can put their business on a path to higher returns.”

He added, “We also offer a range of products to small and medium-sized enterprises that is built to benefit suppliers and vendors, including end users of larger corporate products and services. This provides added-value in terms of supply chain solutions to large corporates and institutions in addition to cash flow improvement, while promoting SME growth. This is a win-win for all parties involved.”

Narasimhan concluded, “We are also digitally transforming to reach new clients, improve their experiences and seamlessly connect them to our market-leading products and services.”

The Bank Nizwa Wholesale Banking Group provides a full suite of Shari’a-compliant products and services to meet the modern banking needs of government institutions, large corporates, project financing, and small and medium-sized enterprises (SMEs). The bank also offers dedicated treasury, investment, international banking, and trade finance services making it the business partner-of-choice for small to large enterprises across the Sultanate. The bank also offers a wholesale banking support division, which is a customer-centric function mandated to provide excellent customer service and quick turnaround.