Bank Nizwa, the premier Islamic bank in Oman, has announced a new Memorandum of Understanding (MoU) with the Health Endowment Foundation (ATHAR). This strategic partnership aims to enhance the role of the health endowment sector in promoting inclusive development, which aligns with national priorities set out in Oman Vision 2040.

The agreement was officially signed by Mr. Khaled Al Kayed, Chief Executive Officer of Bank Nizwa, and Mr. Ahmad Abdullah Al Khanji, Chairman of the Executive Committee and Board Member of the ATHAR Foundation. Senior officials from both institutions were present to witness this significant event.

The MoU focuses on strengthening cooperation between Bank Nizwa and ATHAR. Under this agreement, Bank Nizwa will offer logistical and technical support to ATHAR as it implements its strategic and operational plans. This support will particularly target endowment investment and the development of health-related projects that have a sustainable impact. The partnership will also involve capacity-building initiatives aimed at enhancing professional skills, alongside promoting ATHAR’s financial services through Bank Nizwa’s various communication platforms. Moreover, ATHAR will maintain its primary banking relationship with Bank Nizwa and acknowledge the bank as its strategic partner in all relevant media.

Mr. Khaled Al Kayed commented on the partnership, stating, “At Bank Nizwa, we firmly believe in leveraging our Islamic banking expertise to support endowment institutions that serve meaningful social objectives, especially in vital sectors like healthcare.” He highlighted that this collaboration serves as a model for effective integration between Islamic finance and the endowment sector, reinforcing their shared commitment to sustainable development.

Mr. Ahmad bin Abdullah Al Khanji also remarked that the MoU represents a strategic step towards creating an integrated health endowment model grounded in partnership and specialization. He emphasized the commitment to advancing institutional and professional health endowment services that benefit all segments of Omani society, noting that the partnership with Bank Nizwa will enhance ATHAR’s capabilities and expand its positive impact.

Additionally, the memorandum establishes a joint working group responsible for overseeing the implementation of agreed programs and projects. This group will also submit periodic reports to the senior management of both institutions and allows for the signing of separate executive agreements for future initiatives.

This partnership is in line with Bank Nizwa’s ongoing efforts to reinforce its position as a leading Islamic financial institution that supports sectors with significant social and economic impact, offering innovative, Sharia-compliant financial solutions that reflect national sustainability values.