Banking and fintech leaders decipher the future of financial services at the New Age Banking Summit 2022

The seventh edition of the New Age Banking Summit Oman, supported by the Oman Banks Association, was organized by UMS Events on May 31 at Al Bustan Palace – A Ritz Carlton Hotel. His Excellency Tahir Salim Al Amri, Executive Chairman of the Central Bank of Oman (CBO) was the guest of honour. The event brought together big names from the banking, finance, investment, fintech and insurance sectors, in addition to the Central Bank of Oman, the Ministry of Finance and Oman Investment Authority.

In his keynote address, His Excellency Tahir Salim Al Amri spoke about the digital transformation in the way financial services are produced and delivered, the evolution of payments and settlement systems, and challenges related to digitalization growing. He said CBO is committed to supporting innovation and modernization while preserving financial stability.

The Summit hosted a panel discussion titled “The Future of Banking and Financial Services”. The panel, comprised of well-known leaders from banking, fintech and technology solution providers, deliberated on emerging trends in digital banking and payments and the future of the financial services industry with evolving customer needs. Panelists included Ali Hassan Moosa, CEO, Oman Banks Association; Badar Al Shanfari, Chief Operating Officer (COO), OMINVEST; Ewan John MacLeod, Chief Transformation Officer, Sohar International; Mujahid Al Zadjaly, Managing Director – IT and Operations, Bank Nizwa; Ing. Maqbool Al Wahaibi, CEO, Oman Data Park; Ali Al Lawati, Country Manager – Oman and Yemen, Cisco; and Hussain Al Maimani, Head – Banking & Energy, GBM.

The Summit was a unique platform for banking and finance professionals to discuss new developments in the global banking industry and debate priority areas for Omani banks. The event hosted a series of speakers, including Hassan Abdul Ali, General Manager – Business Development, Oman Data Park; Manahil Jaffar, Director – Corporate Services, Mala’a; Dalel Maghrebi, Manager – Digital Business Solutions (DBS), WBG Oman; and Shadi Al Shami, Principal Systems Architect, Cisco. The event ended with a workshop on “ESG adoption in the BFSI sector” moderated by Imad Alfadel, Founder and Managing Partner, ESG Integrate, UAE.

The event was supported by leading companies – GBM and Cisco as lead partners; Bank Nizwa as a strategic partner; Sohar International as a digital transformation partner; ahlibank and ahli islamic as associated partners; Taageer Finance as financial partner; Oman Data Park as a cloud service partner; Global iTS as a technology partner; National Life & General Insurance as composite insurance partner; United Securities and United GCC Fund as supporting partners; Ubhar Capital as knowledge partner; ESG Integrate as ESG Partner and UMS Digital as Digital Support Partner.

The event saw the signing of two Memoranda of Understanding (MoU) to work together between Bank Nizwa and Oman Data Park for collaboration on AI innovation and deployment, and data center partnership. On this occasion, Oman Data Park and Alliance Network also signed to work together for colocation.

The Oman Banking & Finance Awards 2022 has been co-located with the New Age Banking Summit. Bank Muscat won the award for best bank in the category of large banks. Bank Nizwa received the award for best bank in the category of medium-sized banks. The fastest growing bank in the large bank category went to Sohar International. National Finance won the award for best non-bank finance and leasing company. The winners of these awards were selected based on a survey of banks and NBFCs conducted by OER and Ubhar Capital; the results were verified by Abu Timam Grant Thornton. The survey was based on the financial performance of banks and NBFCs on various parameters over the past four years.

In addition, various top-performing and industry-leading companies in banking, leasing, insurance, fintech and investments were honored with special awards. The winners of the special prizes were selected by the editorial board of the OER.

The full list of winners is as follows –

  • Excellence in investments: OMINVEST
  • Excellence in Customer Experience in Finance & Leasing: Taageer Finance
  • Excellence in asset management and brokerage: United Securities
  • Excellence in Insurance Services: National Life and General Insurance
  • Excellence in Digital Transformation in Finance & Leasing: Taageer Finance
  • Industry Leader in Virtual Data Centers: Oman Data Farm
  • Excellence in CRM solutions for BFSI: Global iTS
  • Digital Transformation Partner of the Year: GBM
  • Tech Personality of the Year: Ali Al Lawati, Country Manager – Oman and Yemen, Cisco
  • Excellence in Credit Information Services: Al Mala’a
  • Excellence in digital transformation in the banking sector: Sohar International
  • Excellence in mobile banking: Bank Nizwa
  • Excellence in Corporate Banking: ahlibank
  • Best non-bank finance and leasing company: National Finance
  • Best bank – medium size: Bank Nizwa
  • Fastest Growing Bank – Big Banks: Sohar International
  • Best Bank – Large: Bank Muscat



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