Bank Nizwa sponsors 5th Oman Economic Forum to showcase the sultanate’s potential as a bridge between Asia and GCC

Bank Nizwa served as the Platinum Partner for this year’s Oman Economic Forum, an event organized by the Ministry of Commerce and Industry and Al Iktissad Wal Amal Group. Held from the 23^rd-24^th of March 2016, the Forum focused on harnessing Oman’s potential as a facilitator of Asian investment in the GCC and the business opportunities awaiting investors in Iran. More than 500 senior government officials, policymakers, and regulators from across the region attended, joining delegations from China, Japan, Turkey, Iran, other Asian countries, and global investment funds.

Under the patronage of H.E. Dr. Ali bin Masoud Al Sunaidi, Minister of Commerce and Industry, the two-day forum also included presentations and keynote speeches from HE Dr. Ahmed bin Mohammed Al Futaisi, Minister of Transport & Communications; H.E. Eng. Mohammad Reza Nematzadeh, Iranian Minister of Industry, Mines & Trade; H.E. Miki Yamada, Japanese Parliamentary Vice-Minister for Foreign Affairs; H.E. Mr. Qian Keming, Vice Minister of Commerce, China as well as H.H. Sayyid Faisal bin Turki Al Said, Director General of Investment Promotion at Ithraa.

As the Sultanate’s leading full-fledged Islamic Banking institute, Bank Nizwa took part in ‘Financing the Future’ discussions, where Asad Batla, AGM Retail highlighted the growing role of the Islamic finance industry. Comprised of a panel featuring several other global banking experts, the session focused on the role of financial institutions in facilitating economic development.

Commenting on the Forum, Dr. Ashraf Al Nabhani, General Manager for Corporate Support said, “The forum was an opportunity to deepen cooperation between the GCC, Asia, and Iran, as well as identify investment opportunities, and nurture economic ties. Indeed, every aspect of the event was meticulously planned to be in-depth, informative, and foster a spirit of collaboration that will bring benefits to us all.”

He went on to say, “Our objective as one of Oman’s leading Islamic banks, was to showcase the positive role Islamic finance is playing in the development of the country and the wealth of opportunities the industry has brought the nation. Islamic finance has rapidly emerged as a viable and efficient model of financial intermediation over the last 30 years and it was important that we spotlight its ability to promote economic development and champion the growth of financially secure lifestyles.” 

The event featured a number of expert panels and interactive discussions, with some of the most decorated business executives in the GCC and Asia participating.  The Forum, panels were developed to support the Government’s development plans, highlighting the need to harness Oman’s role as a center of international trade and transportation among continents.