Bank Nizwa establishes an IT & Cybersecurity board committee. Credit: CoolVid-Shows from Pixabay.

Bank Nizwa has established an IT & Cybersecurity board committee to strengthen its digital presence in Oman. This is a first-of-its-kind initiative in the country.

With a focus on Islamic banking services, the board plans to acquire newly available fintech solutions to meet consumer needs.

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The bank, in line with its digital transformation strategy, invested in various digital solutions. The new initiative will offer advanced banking services and experience with protection, security and digital intelligence, Bank Nizwa said.

Bank Nizwa chairman Sheikh Khalid Abdullah Ali Al Khalili said: “Bank Nizwa aspires to be the ‘digital bank of choice’ for the community and lead the Islamic banking industry in Oman on this journey.

“And while we have always been at the forefront of innovation, the proliferation of digital technologies provides us with opportunities to redefine how our customers see Bank Nizwa and the role we play in their lives.”

To support the new committee, the bank hired people qualified in the Islamic Banking digitalisation sector.

Bank Nizwa CEO Khalid Al Kayed said: “At Bank Nizwa, we have fast-tracked our digitalisation journey with investments in the right technology and people.

“While on this path, we recognise the importance of cybersecurity and data protection, which underpins Bank Nizwa’s commitment to being at the forefront of progressive change that safeguards the interest of its customers.”

Last year, the bank upgraded its digital channels to enhance financial inclusion and fast-track the shift to a digital economy. It launched multiple products across all electronic platforms, including instant card issuance and mobile banking.

The bank aims to bring new financial services to its customer base and improve customer convenience.