Islamic finance key to Oman's economic growth: Dr Jaroudi
24 Apr 2013 04:26 GMT
 

Speaking at a recent economic forum dedicated to Islamic finance, Dr Jaroudi said, "We have established Bank Nizwa as a centre of excellence fo (more)

Speaking at a recent economic forum dedicated to Islamic finance, Dr Jaroudi said, "We have established Bank Nizwa as a centre of excellence for Islamic banking where we provide a just and equitable model for economic growth through a range of banking tools. This is particularly true of our Islamic principles which leverage the economy to new heights through the financing of public sector projects."

Dr Jaroudi, a leading expert in Islamic finance, delivered a presentation under the theme "Islamic Banking, Great Hopes for Investments," which gave participants the opportunity to gain first-hand information on the importance of the industry to the financial landscape of Oman. It included in-depth insights into the Islamic banking tools available to realise growth in the economy.

The forum, which was facilitated by Al Roya newspaper, drew delegates from many important industries across the sultanate.

Dr Jaroudi's address was dedicated to pressing issues of the current stage of Islamic finance development in the sultanate and delved into new approaches to understanding the future for the industry. The guest of honour at the event was H E Darwish al Balushi, Minister Responsible for Financial Affairs.

The Bank Nizwa CEO outlined his hopes for Islamic banking playing a role in spurring the development of Oman's economy. "There is huge potential for significant growth of Islamic finance in Oman, and we are confident of expanding our horizons and activities to create a very successful environment."

Dr Ashraf al Nabhani, general manager, corporate support, Bank Nizwa , also participated in the panel discussion on "Capital Market - Expected Performance."

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