Amjaad successfully organized the Oman Islamic Economic Forum on 17th and 18th Dec 2011 at Al Bustan Palaze – Ritz Carlton Hotel, Muscat. The event was a big success with more than 450 delegates from around the world. OIEF was spread over two days and provided a focal point of interaction between all the stake holders of Islamic banking, finance and economy in Oman.

The Oman Islamic Economic Forum was organized jointly with Edbiz Consulting, UK. The attendees could benefit from the vast knowledge of the various experts in Islamic banking. The speakers were a mix of successful Islamic bankers, academia, policy makers, regulators and consultants. Attendees constituted a diverse geographic mix with people from Oman, UAE, Qatar, Bahrain, Saudi Arabia, Kuwait, Egypt, Palestine, Sudan, Ghana, India, Pakistan, Sri Lanka, Malaysia, Canada, USA, UK, Switzerland, France, Germany and many other countries.

The topics discussed included:

• Islamic banking in Oman – the regulatory challenge
• Islamic banking in Pakistan – A regulator’s view
• Competing Islamic banking regulatory models – which one is best for Oman?
• Islamic banking as practiced by full-fledged Islamic banks: differences and similarities
• Structuring of Islamic finance products
• Future of Islamic finance in Oman
• Shari’a issues in Islamic banking & finance
• Takaful prospects in the GCC
• Islamic capital markets
• The role of Zakat, Waqf and charity in building an alternative Islamic economic system.
• Islamic banking as a tool for economic reforms

The major speakers at the event were:

• Tun Abdullah bin Haji Ahmad Badawi – Ex Prime Minister, Malaysia
• Sheikh Dr. Kahlan Al Kharusi – Asst. Grand Mufti, Sultanate of Oman
• Sheikh Nizam Yaqubi – AAOIFI, Shari’a Board
• Dr Ezzedine Khoja – Secretary General, CIBAFI
• Prof Dr. Ali Al Quradaghi – Chairman, Shari’a Board, Qatar First Investment Bank
• Neil D Miller – Global Head of Islamic Finance, KPMG
• Yaseen Anwar – Governor, State Bank of Pakistan
• Dr. Muhammad Abdulrahim Al Olama – Shari’a Expert
• Dr Monzer Kahf – Professor, Islamic Finance, Qatar Faculty of Islamic Studies
• Dr. Mufti Muhammad Zubair Usmani – Shariah Advisor, Muslim Commercial Bank, Pakistan
• Mohammed Amin – Islamic Finance Expert
• Ahmed Saif Al Rawahi – Chairman, Founding Committee, Bank Nizwa
• Prof. Rodney Wilson – Director, Islamic Finance Program, Durham University
• Tariq Al Rifai – Director, Islamic Market Indexes, Dow Jones Indexes
• Saleem Ullah- Director, Islamic Banking Dept, State Bank of Pakistan
• Badlisyah Abdul Ghani – CEO, CIMB Islamic Bank Berhad
• Shaikh Mudassir – Partner & Head, Islamic Finance (Middle East), SNR Denton
• Daud Vicary Abdullah – President & CEO, INCEIF
• James Fierro – Chairman of the Board, Recipco, UK
• Dr Mohammad Omar Farooq, – Head, Centre for Islamic Finance, BIBF
• Stuart Crocker – Head, Private Banking & Wealth Management, ADIB
• Sohail Jaffer – Partner & Head, Intl. Business Development (Bancassurance & Investment Services), FWU Group
• Oliver Agha – Founding Partner, Agha & Co, Agha & Shamsi
• Datuk Noripah Kamso – CEO, CIMB-Principal Islamic Asset Management Sdn Bhd.
• Qudeer Latif – Partner, Global Head of Islamic Finance, Clifford Chance LLP
• Rehan Pathan – Head, International Sales, NCB Capital
• Safder Jaffer – Managing Director, Milliman Dubai
• Dr. Muhammad Qaseem – Country Head of Shari’a, Dubai Islamic Babk Pakistan Ltd.
• Dr. Asyraf Wajdi Dusuki – Head of Research Affairs, ISRA
• Dr Salman Khan – Head of Shari’ah, Islamic bank
• Kamal Mian – Head, Asset Finance, Saudi Hollandi Bank
• Cassim Docrat – Director, DDCAP (DIFC) Limited
• Stanley T. Young – SVP, Worldwide Sales, Path Solutions
• Omar Kalair – President & CEO, UM Financial, Canada
• Abid Shakeel – Banking, Capital Markets and Takaful Lead Manager, Islamic Financial Services – Advisory, Ernst & Young
• Mufti Talha Ahmad Azami – Shari’a Scholar, ADIB
• Mohamed Virani – Head of Market Engineering for Islamic Products, Société Générale Corporate & Investment Banking
• Ajmal Bhatty – President & CEO, Tokio Marine Middle East
• Hathim Abdou – Group Director, Marketing, ITS

Developing Competent & Qualified Human Capital for the Islamic Finance Industry in Oman

A Collaboration Agreement was recently signed in Park Inn Hotel, Muscat between Amjaad Development Co. and INCEIF, The Global University of Islamic Finance for the provision of training on Islamic banking & finance.

The collaboration aims to open up new horizons of cooperation between Amjaad Development and INCEIF, The Global University of Islamic Finance in the field of training on Islamic banking and finance through specialised professional courses tailored specifically to meet the needs of professionals involved in Islamic banking and finance and also for potential candidates seeking employment in this vibrant sector. The collaboration emerged through a lead initiated by Amjaad Development targeting the professional development of national human resources in the field of Islamic banking and finance witnessed by the Sultanate.

The agreement was signed by Eng. Khalid bin Hilal Al Yahmadi, Chairman of the Board of Directors of Amjaad Development and Mr. Daud Vicary Abdullah, President and CEO of INCEIF, The Global University of Islamic Finance.

In a statement, Mr. Khalid said that this agreement came within the context of Amjaad Development’s strategic vision to build a fruitful cooperation and true partnership with international institutions specialised in Islamic economy and that they also fall within the current trends of the Sultanate.

Al Yahmadi added that by partnering with internationally professional institutions which specialised in Islamic finance, Amjaad Development is offering valuable opportunities for Islamic banking institutions to train and develop their cadres from different levels of disciplines through training programmes delivered in Arabic and English to fulfill the requirements of all trainees. He added that Amjaad Development also provides training and preparation courses for the young people seeking employment in this promising field whether they possess the general education diploma or any other qualifications.

Al Yahmadi concluded that this agreement is the second of its type to be signed by Amjaad Development. The first agreement was signed with The General Council for Banks and Islamic Financial Institutions (CIBAFI) during the 1st. Oman International Forum for Islamic Economy (OIEF) on the 17-18 December 2011 at the Bustan Palace Hotel which was organized by Amjaad Development.

Mr. Daud Vicary Abdullah said that this agreement shall enable Amjaad Development and INCEIF, The Global University of Islamic Finance to provide state-of-the art training programmes in the field of Islamic finance for the Omani market. These programmes shall cover all aspects related to Islamic banking, theoretical and practical including but not limited to the legislations governing the Islamic banking, Islamic insurance (Takaful), audit and supervision of Islamic finance and ethics of Islamic banking. All trainees will receive accredited certificates issued by INCEIF, The Global University of Islamic Finance upon the successful completion of the training programmes.

Mr. Vicary added that the joint cooperation between INCEIF, The Global University of Islamic Finance and Amjaad Development shall continue to obtain approvals from the Ministry of Higher Education in the Sultanate for the academic accreditation of the Masters in Islamic Finance (MIF) and PhD programmes offered by INCEIF, The Global University of Islamic Finance. This accreditation shall open doors for Omani students to join INCEIF, The Global University of Islamic Finance for MIF & PhD degrees in Islamic banking & finance. Once accredited by MOHE Oman, INCEIF, The Global University of Islamic Finance will also evaluate the possibility of delivering these programmes through institutes of higher education in Oman.

About INCEIF

INCEIF was set up as a by Bank Negara Malaysia in 2005. As of April 2012, a total of 2,141 students from over 50 countries have registered to study INCEIF’s three programmes which are Chartered Islamic Finance Professional, Masters in Islamic Finance, and PhD in Islamic Finance. Since its first convocation in 2009, more than 200 students have graduated from INCEIF. The university has attracted partnerships with academic institutions and industry practitioners from all over the world, eager to tap into its pool of Islamic finance experts. For more information, please visit www.inceif.org

Muscat: Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, and Amjaad Development have signed an agreement to design and build branches for Meethaq Islamic Banking across the Sultanate.

Sulaiman Al Harthy, Group General Manager – Meethaq Islamic Banking, and Khalid Hilal Al Yahmadi, Chairman of Amjaad Development, signed the agreement on the sidelines of Oman Islamic Economic Forum (OIEF) organised by Amjaad Development.

Meethaq also announced a number of new products and services to be launched soon at the two-day forum, said a bank release.

“Meethaq is proud to sign the agreement with Amjaad Development to expand Meethaq branch operations across the Sultanate and thereby offer world-class Islamic banking experience to customers. The new branch design concept is aimed at creating a unique ambience and banking environment in line with the brand values of true partnership, transparency and trust. Meethaq plans to establish 50 branches in the next five years and will also introduce a number of innovative products and services soon to complement the unique Islamic banking experience. The new products and services include innovative credit cards, mobile banking and website,” said Sulaiman Al Harthy.

Bank Muscat is the first commercial bank in Oman to receive CBO’s approval and begin independent Islamic banking window operations as per the requirements of Islamic banking regulatory framework of CBO. The bank has invested in staff and controls to ensure the service is delivered in a professional, segregated and fully Sharia compliant manner.

Meethaq has taken the lead in launching a suite of banking products which combine traditional values with modernity. Meethaq has adopted the best practices in Islamic banking and finance worldwide to combine a robust model which protects customers and complements the Islamic banking industry.

The Meethaq strategy is to attract customers through innovative Shari’a based products and services. The operations are managed by an experienced team, separate from conventional banking.

Every Meethaq product goes through the process of Sharia compliance certification by the Sharia Supervisory Board and is created in line with the guidelines of the Central Bank of Oman.

The adoption of AAOIFI standards (Accounting & Auditing Organisation for Islamic Financial Institutions) distinguishes Meethaq Islamic banking practices in terms of standardisation of products and services.

Source: http://www.timesofoman.com/News/Article-14623.aspx

MUSCAT, — Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, is a key supporter and participant in the two-day Oman Islamic Economic Forum (OIEF) beginning on 1 May under the patronage of H E Dr Yahya bin Mahfoudh Al Mantheri, Chairman of State Council, at Al Bustan Palace Ritz-Carlton Hotel.

Sulaiman Al Harthy, Group General Manager — Meethaq Islamic Banking, and Khalid Hilal Al Yahmadi, Founder of OIEF and Chairman of Amjaad Development, signed the partnership agreement for the forum which has attracted Islamic finance experts from around the world who will discuss a wide range of topics ranging from philanthropy and social responsibility to technology and capital markets under the umbrella of Sharia compliant products and services.

Sulaiman Al Harthy said: “The Meethaq support to OIEF stems from the bank’s commitment to complement Islamic banking which has marked a milestone in the banking and finance sector in Oman. The forum highlights the significance of Islamic banking in the context of growing alternative financial and banking needs in the modern world.”

The topics on discussion include governance issues and regulations in Islamic finance, leveraging the power of Islamic finance to reduce poverty, Islamic capital markets, structuring of Islamic finance products, Islamic venture capital and SMEs, future of Islamic finance in Oman, responses to Basel III, Sharia issues in Islamic banking and finance, Takaful prospects in the GCC, the inter-play between technology, education and moral behaviour, recognising the growing need for structured programmes to raise awareness amongst issuers and develop sustainability, the role of zakat, waqf and charity in building an alternative Islamic economic system, Islamic public finance and sukuk.

Bank Muscat is the first commercial bank in Oman to receive CBO’s approval and begin independent Islamic banking window operations as per the requirements of Islamic banking regulatory framework of CBO.
The bank has invested in staff, systems and controls to ensure the service is delivered in a professional, segregated and fully Sharia compliant manner. Meethaq delivers products and services to meet all financial needs of customers by ensuring true Partnership, Transparency and Trust.
Meethaq has taken the lead in launching a suite of banking products which combine traditional values with modernity. Meethaq has adopted the best practices in Islamic banking and finance worldwide to combine a robust model which protects customers and complements the Islamic banking industry. The Meethaq strategy is to attract customers through innovative Sharia based products and services. The operations are managed by an experienced team, separate from conventional banking.

Every Meethaq product goes through the process of Shari’a compliance certification by the Sharia Supervisory Board and is created in line with the guidelines of the Central Bank of Oman.

As the pioneer of Islamic banking in Oman, Meethaq stands out for its independent Sharia Supervisory Board, separate capital allocation from shareholders’ money, unique risk management tools, complete fund segregation, separate books of account, core banking system which supports Islamic banking operations, stand-alone Islamic banking branches and proper profit distribution mechanism among investment account holders/depositors. The adoption of AAOIFI standards (Accounting & Auditing Organisation for Islamic Financial Institutions) distinguishes Meethaq Islamic banking practices in terms of standardization of products and services.

Under the auspices of Dr. Yahya bin Mahfoudh al Manthri, Chairman of the State Council. Amjaad Development organized the two-day Oman Islamic Economic Forum (OIEF) 2013, in its second edition at Al Bustan Palace Hotel. The forum cast light on the different aspects of the Islamic finance, the Islamic banking, the Takaful insurance, Zakat, Awqaf, alimonies, perfection of work, development of Islamic banking to finance the public sector and infrastructure projects, the development of SMEs and the human resources.

For more details please visit www.oief.co

NIZWA — Mohammed bin Nasser al Rasbi, Secretary-General of the Ministry of Defence, laid the foundation stone for (Nizwa Grand Mall). Amjaad Development had won the bid to build the mall in accordance to world specifications on a land up to 37 thousand square meters with other areas for landscaping and parking up to 1,200 vehicles. The project includes a shopping centre, restaurants, entertainment and children’s play areas and many shops, in addition to administrative offices, Prayer room, toilets and other facilities necessary for such centres. It is planned to finish all construction works of the complex and its different facilities in the last quarter of next year.

In this context, Saleh bin Nasser al Habsi, Director-General of the Ministry of Defence Pension Fund, explained that the idea of building this mall comes within the scope of investment diversity of the Ministry of Defence Pension Fund and keep pace with the trend towards economic diversification in the country, adding that the project will be run by global operators like Carrefour, Centre Point, Home Centre, Max, e-max and other commercial brands. The ceremony was attended by Shaikh Khalifa bin Hamad al Saadi, Governor of Al Dakhiliyah, members of the State Council, Walis, members of the Municipal Council of the Al Dakhiliyah Governorate, a number of senior officers and officials of the Ministry of Defence.

Source: http://main.omanobserver.om/?p=51484

Date: November 1, 2014
Event: Amjaad Group 8th Anniversary Celebration
Venue: Muscat Holiday Hotel

New Project:
The Ship Commercial Building – Al Ghubra, Muscat
Cost: OMR 4.5 Million
Status: Under Construction

Khalil Al Siyabi promotion party at Ghala office.

Amjaad Engineering & Contracting management and staff trip to jebel akhdar.

Amjaad Group is pleased to announce its participation in sponsoring Oman Real Estate Conference 2015 to be held on 11th May to 12th May 2015 at address Al Bostan Palace A –Ritz Cartlon Hotel .

Amjaad has chosen to be the platinum Sponsor of the event.

Amjaad is 100% Omani ownership and management with biggest Project Engineering Design Office in Muscat. They offer all services related to building design, landscaping, construction, project management and consultancy under its umbrella on a turnkey basis.

• Amjaad is the only full fledge Omani real estate development service provider in the Omani Market
• Chairman of Amjaad Sheikh Khalid Alyahmadi is the founder of Oman Islamic Economic Forum (OIEF)
• Amjaad is a very responsible organization that values ethical and moral business practices while it is very sensitive to the environment and its social obligations.
• Amjaad is also very active in Corporate Social Responsibilities (CSR) and promotes various charitable activities for the community.

The Oman Real Estate Association (a non-profit organization) is continuously taking pro-active steps by organizing various initiatives and forging strategic partnerships with key industry players both in the country and in the region to effectively contribute to the value addition of the growth of the country and its people.

For more info: http://alnimrexpo.com/orec/

Amjaad Holding have recently delivered the development of Barka Grand Centre in Barka City. We take pride for putting this development together for the country, the owner and the People over there.

Amjaad Holding is the developer, who proposed, deigned, supervised the construction, leased successfully 95% of GLA and delivered the project with tenants of worldwide brands, some for the first time in the city and in the country. The shopping Centre features 24,666 square meter of GFA, 19,077 of GLA, 800 parking lots with a purpose built Fly-over Bridge arriving from the highway. The shopping centre was anchored by Carrefour and Landmark group brands of Fun City, Centrepoint, Emax and Max fashion. Alshaya group has also leased 6 shops offering Starbucks, Claire’s and other brands. In addition, Burger King and German Donar Kabab were some of the F&B brands.

Barka – 40 minutes’ drive from Muscat towards Dubai- An area of 80 thousand inhabitants with another 40 Thousand people in Barka periphery areas totaling 120,000 catchment area to the Shopping Centre. The Shopping Centre is expected to welcome 14,000 people daily as an average shopping traffic.

Mr. Khalid Bin Hilal Al Yahmadi, Chairman of Amjaad Holding Board of Directors, would like to thank every participating employee for their superior commitment and great work to make this an iconic destination and a new milestone in the group History..

Amjaad Group enhanced their management structure.

Amjaad Holding together with Riyada are providing great opportunities to all SME’s in Nizwa Grand Mall in Nizwa, Sultanate of Oman. Also we encourage all to book your space as early as possible so you will not miss this opportunity. For immediate booking call 91199661 or 24396888.

Civil and Architectural Engineering Society at the College of Engineering at Sultan Qaboos University (SQU) on Sunday organised the First Civil and Architectural Engineering Forum under the patronage of Salim bin Hamed Al Kimiyani, chief executive of Parsons International.

Speaking on importance of the event, Chaham Rajab Alalouch, assistant professor at the Department of Civil and Architectural Engineering and the supervisor of the student society, said the forum is part of a series of student activities that aims to raise the efficiency of university graduates, to activate the students’ role in university life, and to promote interaction between the university and professional companies and institutions.

“The field of Civil and Architectural Engineering is directly linked to the basics of developing societies, therefore, the evolution and development of this area is essential for comprehensive social progress. Out of this awareness, the Department of Civil and Architectural Engineering offers undergraduate programmes and awards the degree of Bachelor of Science in both Civil Engineering and Architectural Engineering. The department is currently working to offer a Masters Programme in Architectural Engineering with a focus on sustainable design.”

Regarding the role of the department in communicating with public and private sectors, Chaham Alalouch said: “We believe that our role is not complete without the effective cooperation of all sectors of government, companies and institutions that are involved in the construction business in the Sultanate. The department is keen to integrate private companies and government institutions in the educational process and activation of the principle of participation with them through a number of events and activities.”

Student Haitham Al Kalbani, head of the Civil and Architectural Engineering Society, said that the forum’s agenda included holding talks and discussions on the completed, ongoing and future construction projects in civil and architectural engineering Oman.

“The event will help improve the skills that students should obtain after graduating from the university in order to adapt to the nature of work, tap job opportunities and meet the labour market’s needs.” Al Kalbani also noted that participation is not limited to students of SQU only, but also welcomes students from the Caledonian College of Engineering, the Middle East College and the Higher College of Technology in Al Khuwair and Ibra.

More than 300 engineering students, as well as a number of alumni faculty members and representatives from construction companies, attended the forum. The government and private institutions that participated in the forum included the Ministry of Transport and Communication, Haya Water, the Parson Corporation, Oman Rail, Beah Company, Amjad for Engineering Consultation and others.

Source: http://timesofoman.com/article/77094/Oman/Education/Civil-and-Architectural-Engineering-Society-at-the-College-of-Engineering-of-Sultan-Qaboos-Universit

Carrefour has open its new store at Nizwa Grand Mall.

Nizwa Grand Mall, a unique classic shopping center celebrates its grand opening last May 29, 2016.