Alizz highlights key role of Islamic banking

MUSCAT: Alizz Islamic Bank announced its successful participation in the Islamic Finance News Forum in partnership with the Islamic Finance News (IFN). Organised by the Capital Market Authority (CMA), the Forum shed light on the development of Islamic financing services, including takaful insurance, and the role of Islamic banking in achieving Oman’s vision for economic diversification. It drew attention to the growth of Islamic financing, driven by the latest trends in the national economy.
Alizz’s participation in Islamic Finance News Forum comes in line with the bank’s policy to strengthen its presence in events that highlight the latest developments in the Islamic banking sector. Presenting a paper on ‘Capital Market Depth in the Sultanate and How to Form an Efficient Market’, Mustafa al Lawati, Head of Investment Banking and Project Finance at Alizz Islamic Bank, highlighted the contribution of Islamic banking in the capital market and the ways to achieve economic sustainability.
As a promising sector, Islamic banking has gained considerable popularity among all segments of the society in view of its Sharia-compliant products and services. The sector has achieved unprecedented growth despite its short history, Al Lawati pointed out. The Islamic Finance News Forum’s sessions discussed a number of topics such as the contribution of Islamic banking to the success of the National Programme for Enhancing Economic Diversification (Tanfeedh).