Continuing its leadership in developing Sharia-compliant financing solutions and reinforcing its position as the leading and most trusted Islamic bank in the Sultanate of Oman, Bank Nizwa has signed a strategic Memorandum of Understanding with Jabal Asset Management LLC, a global emerging markets specialist, investment manager and broker based in Oman. This partnership brings together Bank Nizwa’s deep expertise in Islamic finance and its advanced banking infrastructure with Jabal Asset Management’s specialisation in asset management and investment in the global emerging markets.
As part of the Memorandum of Understanding, both parties will explore the development of Sharia-compliant funds designed to meet the needs of diverse investor segments. Bank Nizwa will play a pivotal role in ensuring these products adhere to the highest regulatory standards, while Jabal Asset Management will contribute its asset management acumen to structure and manage products across geographies. This collaborative effort is expected to open pathways for innovative investment strategies that resonate with evolving investor expectations. This MoU underscores a shared vision of supporting Oman’s economic diversification goals, fostering financial innovation, and advancing the role of Islamic finance in global asset management.
The agreement was signed by Mr. Saif Abdullah Al Rawahi, Deputy General Manager – Wholesale Banking at Bank Nizwa, and Mr. Issa Al-Battashi, Managing Director at Jabal Asset Management, in the presence of numerous of executives from both institutions.
Commenting on the partnership, Mr. Saif Abdullah Al Rawahi said, “This partnership represents more than just a merging of expertise and capabilities; it is a forward-looking step toward building new avenues for Sharia-compliant asset growth – delivering value to investors, communities, and the economy as a whole. By combining Bank Nizwa’s trusted experience in Islamic banking with Jabal Asset Management’s investment expertise, we aim to unlock new opportunities that support economic diversification, attract investments, and strengthen the Sultanate’s position as a leading hub for Islamic finance. Through such partnerships – ones that foster innovation in products and elevate the quality of services offered – Bank Nizwa continues its efforts to advance Islamic banking while ensuring the delivery of modern, competitive offerings that align fully with our customers’ values.”
“This MoU marks an important milestone for Jabal Asset Management as we continue to expand our capabilities and presence across key markets,” said Mr. Issa Al Battashi, Managing Director, Jabal Asset Management. “Partnering with Bank Nizwa, a pioneer in Sharia-compliant banking, allows us to deliver tailored solutions that bridge global investment opportunities with the values and requirements of our clients.”
In addition, the partnership will extend to capital raising initiatives, leveraging Bank Nizwa’s extensive distribution channels to connect investors with carefully curated Sharia-compliant opportunities. The collaboration is also expected to include emerging markets brokerage services, with a focus on enhancing accessibility and efficiency. By integrating these services, the two institutions aim to deliver comprehensive solutions that enhance value creation for customers.
The agreement also outlines opportunities for Jabal Asset Management to provide tailored investment management strategies for Bank Nizwa’s high net worth clientele, addressing their unique aspirations within Sharia-compliant mandates. Extending beyond client-specific solutions, the collaboration is equally focused on cultivating broader market understanding. Aligned with Bank Nizwa’s emphasis on thought leadership, the partnership envisions co-hosting market engagement platforms, knowledge-sharing forums, and customer education sessions aimed at strengthening awareness of emerging market opportunities and advancing the discourse on Sharia-compliant investments.
Building on these initiatives, the cooperation is projected to further expand into digital banking integration, with Bank Nizwa evaluating the listing of investment products introduced in collaboration with Jabal Asset Management on its digital platforms.
Through such initiatives, Bank Nizwa continues to reaffirm its commitment to championing innovation in Islamic finance, broadening the scope of Sharia-compliant investment, and contributing to Oman’s long-term economic priorities.
