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Bank Nizwa signs financing agreement for Omani campus of Arab Open University

Oman’s Ministry of Housing has allocated a 37,850sqm plot of land in South Al Mabela

Bank Nizwa, a leading Islamic bank in Oman, has announced the signing of an agreement with Arab Open University for the funding of a new campus in the Sultanate.

In a statement, the Omani bank said that the Ministry of Housing has already allocated a plot of 37,850sqm for the university in South Al Mabela.

The Arab Open University was established as a non-conventional academic institution, it has been reaccredited by the Open University Validation Service of the Open University in the United Kingdom for a period of five years (2017-2022) for the fourth time. It has also signed a series of memoranda with a number of international universities to offer academic programs that are required in the labour market.

Khalid Al Kayed, CEO of Bank Nizwa, stated that the bank has always invested in ventures that help the economic growth of the country. He signed the deal with Dr Moosa Al Kindi, Director of Arab Open University, Oman branch, in the presence of senior officials.

Al Kayed added that by supporting an institution like the Arab Open University that is established on the principles of quality education and is dedicated to steering development in scientific, social and cultural spheres, Bank Nizwa has further reaffirmed its commitment as a responsible corporate citizen that believes in investing in the youth of the country.

“Education is one of the key sectors that the Oman Vision 2040 focuses on and Bank Nizwa is committed to being a vital contributor to the nation’s growing economy through strategic partnerships like these,” he added.

The new Arab Open University falls under the Arab Gulf Programme for Development (AGFUND) which is a regional organisation established in 1980 by the initiative of late Prince Talal bin Abdul Aziz and the support of the leaders of the Gulf Cooperation Council.

The first phase of the Arab Open University was launched in October 2002 and then it started in Oman in February 2008. With 15 branches and centres in nine Arab countries, it aims to reach all Arab countries.

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