Bank Nizwa becomes the 17th institution in IILM’s global Primary Dealer network, further expanding IILM’s global distribution network and strengthening Oman’s integration into international Islamic financial markets

Kuala Lumpur, Malaysia – 18 August 2026

The International Islamic Liquidity Management Corporation (IILM) is pleased to announce the appointment of Bank Nizwa as its newest Primary Dealer. Bank Nizwa is the second institution from the Sultanate of Oman to join the IILM’s global Primary Dealer network. As the IILM’s 17th Primary Dealer, Bank Nizwa will strengthen the organisation’s distribution capabilities and broaden investor access to its highly rated, short-term Ṣukūk across key Islamic finance markets. The appointment also reinforces Oman’s connection to the global Islamic liquidity management ecosystem.

Primary Dealers play an important role in the IILM’s issuance programme by supporting the distribution of its short-term Ṣukūk, facilitating investor access, contributing to secondary market liquidity and advancing the development of cross-border Islamic liquidity management.

Commenting on the appointment, Mohamad Safri Shahul Hamid, Chief Executive Officer of the IILM, said: “We are delighted to welcome Bank Nizwa to the IILM’s Primary Dealer network. This appointment further strengthens our global distribution capabilities and reinforces our commitment to broadening access to high-quality Sharīʿah-compliant liquidity management instruments.

Oman has become an increasingly important market within the IILM’s investor base and we expect Bank Nizwa’s appointment to deepen this engagement further. The Sultanate continues to strengthen its position as an important Islamic finance centre, supported by a growing Islamic banking sector, a deepening capital market and a strong commitment to financial innovation.

By leveraging Bank Nizwa’s established market presence and expertise, we look forward to expanding our engagement with investors in Oman and across the wider region, supporting more effective liquidity management and contributing to the continued development of the Islamic financial services industry.”

Tariq Atiq, Chief Executive Officer of Bank Nizwa, said: “We are delighted to join the IILM’s global Primary Dealer network and looking forward to undertake this important role for the development of Islamic finance industry with focus on liquidity management. This partnership reflects Bank Nizwa’s commitment to advancing Islamic finance and will further strengthen Oman’s participation in the global Islamic financial ecosystem. Our appointment as a Primary Dealer shows the strength of our global markets franchise and our contribution to the growth of global sukuk markets.

As a Primary Dealer, we look forward to working closely with the IILM to deepen liquidity and broaden the investor base to its highly rated short-term Ṣukūk and facilitate Islamic liquidity management opportunities for financial institutions in Oman and beyond. We believe this partnership will also create greater opportunities for collaboration and market development across the region. This is an important milestone for Bank Nizwa, and we remain dedicated to promote Islamic finance to serve our clients and the broader community.”

The continued expansion of the Primary Dealer network reinforces IILM’s ability to serve a broader and more geographically diversified investor base. Bank Nizwa’s appointment also underscores the growing importance of Oman’s Islamic banking sector and its increasing integration into the global Islamic capital markets.

Oman’s Islamic banking and finance industry has recorded strong growth in recent years. According to data from the Central Bank of Oman, the combined assets of Islamic banks and Islamic banking windows reached approximately approximately OMR9.8 billion or USD25.5 billion, at the end of May 2026. This represented 19% of the country’s total banking-sector assets and an increase of 9.2% from the corresponding period in 2025.

Oman’s sovereign Ṣukūk market has also gained significant momentum; Ṣukūk accounted for approximately 60% of the country’s US dollar-denominated debt issuance in 2025, complemented by scheduled issuances in the domestic market. This growth has been supported by the Central Bank of Oman’s introduction of Sharīʿah-compliant liquidity management facilities for Islamic banks, alongside the government’s broader economic diversification agenda under Oman Vision 2040.