NEWS
OMAN
NBO and ITA sign agreement for
customised banking solutions
clearing transactions while giving the ITA the ability to view
reports and processes in real time through a highly secure web
portal, while also helping decrease human error when dealing
with a high volume of daily transactions.
The security measures work with authentication from the
systems of the ITA as well as NBO.
The National Bank of Oman (NBO) and the Information
Technology Authority (ITA) have signed an agreement to
utilise a custom banking solution that offers greater control
over transactions and financial management.
Through centralisation and automation, the solution
addresses specific challenges, such as high volumes of daily
payments. It will work to reduce the turnaround time of
Ahmad Al Musalmi, NBO’s CEO, said: “The custom solution
was built in-house by a talented team of engineers at
the NBO. As an organisation, we always strive to produce
innovations that will enhance the Sultanate’s banking sector,
and we are delighted to put this latest one into practice
alongside the ITA.”
By focusing on innovation, technology and providing
local solutions, NBO has also focused on supporting the
government’s strategic goals of perusing e-governance by
creating digital solutions that enhance the efficiencies of the
government and private sectors.
Al Kawthar Fund signs MoU with
Takaful Oman and Bank Nizwa
Tanmia’s Al Kawthar Islamic Fund
management team has signed an MoU
with Takaful Oman Insurance Co and
Bank Nizwa to organise the Sultanate’s
first roadshow that will shed light on
Shari’a-compliant financial instruments
in banking, insurance and investment.
a comprehensive understanding of
the advantages provided by Islamic
investment opportunities ranging from
the benefits of diversifying portfolios
to their greater resilience to economic
fluctuations. Added to that, Al Kawthar
Fund is registered and governed by the
regulation of Capital Market Authority
(CMA) listed in Muscat Security Market
(MSM).” Attendees will learn about
the link between different Islamic
financial institutions.
The programme, entitled ‘Islamic
Finance Knowledge Program’, will be
held across multiple governorates and is
set to feature presentations by some of
the most respected figures in the Islamic
financial sector, panel discussions,
and participation from senior Shari’a-
compliant scholars.
Sheikh Rashid Al Saadi, CEO of TANMIA,
said: “We are proud to join hands with
two of Oman’s leading Islamic financial
sector players. Our participation in this
roadshow will provide investors with
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