Reaffirming its commitment to advancing responsible Islamic banking practices that integrate regulatory compliance with a customer-centric approach, Bank Nizwa, the Sultanate of Oman's leading and most trusted Islamic bank, has launched the Wage Protection System WPS Savings Account. This Mudaraba-based savings solution, compliant with Sharia principles, is designed to support salaried employees earning up to OMR 350 per month. It enables eligible Omani and non-Omani employees to receive their salaries in accordance with the Central Bank of Oman's Wage Protection System directives, while providing the opportunity to earn monthly profits within a regulated and transparent Islamic banking framework.
"At Bank Nizwa, we view financial inclusion as a strategic responsibility, aimed at bringing key workforce segments into the formal banking system through responsible, Sharia-compliant solutions. By aligning regulatory compliance with Islamic finance principles, this initiative enhances economic participation, strengthens trust in the banking system, and contributes to a more resilient and equitable financial ecosystem. It also demonstrates our commitment to creating structured financial pathways that support workforce stability and long-term economic continuity."
- Mr. Mohamed Al Ghassani, Chief Retail Banking Officer, Bank Nizwa
