Sohar International agrees strategic relationship with BNY to boost Oman's capital markets ecosystem
Muscat: Sohar International, in its commitment to fostering a dynamic and robust financial ecosystem in Oman, has announced a strategic relationship with The Bank of New York Mellon Corporation ('BNY'), a global financial services company, to enhance its custody offering for clients in Oman. As part of its broader vision to drive innovation and strengthen the country's financial infrastructure, this relationship reinforces Sohar International's role as a key enabler of capital market development and investment growth, aligning with Oman's Vision 2040 aspirations.
Commenting on the relationship, Mr. Abdulwahid Al Murshidi, Chief Executive Officer of Sohar International, said: 'At Sohar International, we are dedicated to advancing Oman's financial sector by offering cutting-edge investment banking solutions tailored to our clients' evolving needs. This relationship with BNY represents a significant milestone in enhancing our custody and asset servicing capabilities. By integrating BNY's world-class infrastructure and expertise, we can provide seamless access to international markets, empowering clients to optimize their investments and navigate an increasingly complex financial landscape. This commitment underscores our unwavering focus on innovation and excellence while reinforcing Oman's position as an emerging hub for capital market growth. We look forward to working closely with BNY to deliver market-leading financial solutions to investors and institutions in Oman.'
By leveraging BNY's financial services platforms, infrastructure, and global expertise, Sohar International will broaden its custody offering, further cementing its position as a key player in the investment banking sector. With decades of experience in the Middle East, BNY has played a pivotal role in fostering financial growth, facilitating access to global markets, and supporting the evolution of capital markets within the GCC. This relationship unites Sohar International's regional expertise and BNY's global capabilities, strengthening Oman's financial landscape and expanding investment opportunities for institutions in the region.
'Building on our rich heritage in the Middle East, we are thrilled to deepen our relationship with Sohar International and support the growth of Oman's capital markets,' adds Hani Kablawi, Head of International, BNY. 'Sohar International is a trusted partner in Oman's economic advancement bringing a wealth of experience in the nation's financial ecosystem. Bringing together Sohar International's local and regional expertise in banking with BNY's global platform capabilities will enable us to evolve our collective offering and help leading institutions in Oman to continue driving growth.'
Sohar International remains steadfast in its mission to enhance Oman's financial services sector by introducing innovative solutions, expanding investment capabilities, and fostering a more sophisticated capital market environment. Through strategic collaborations, cutting-edge digital advancements, and customer-centric financial solutions, Sohar International continues to drive economic growth and position Oman as an emerging hub for financial excellence.
About Sohar International
With the vision to become a world-class Omani services company that helps customers, community and people to prosper and grow, Sohar International operates with a purpose to help people 'win' by delivering responsive banking for their ever-changing world, complementing their growth and prosperity with international standard service delivery. The Bank seeks to redefine banking in Oman through transformational developments centred on the principles of More Velocity, making everything simple and fast; More Value, ensuring relevance and connectivity to customers' world; and More Vision, liberating stakeholders through talented leadership. www.soharinternational.com
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