Latest news with #AbdulwahidAlMurshidi
Zawya
a day ago
- Business
- Zawya
Oman: Strategic credit facility agreement valued at $163mln signed
Muscat: In a significant move to advance economic growth and sustainable urban development, Sohar International and Al Mouj Muscat have signed a Memorandum of Understanding for a strategic credit facility agreement valued at OMR63 million to Al Mouj Muscat. This agreement reflects the shared commitment of all parties to support the Sultanate's long-term prosperity through innovation, high-quality urban development, and strong financial stewardship enabled by trusted institutional partnerships. Abdulwahid Al Murshidi, Chief Executive Officer of Sohar International, said: 'At Sohar International, we take great pride in actively contributing to the Sultanate's infrastructure development, which is central to Oman's broader national growth agenda. Our support for Al Mouj Muscat visionary project through this strategic credit facility reflects our commitment to empowering landmark initiatives that drive economic diversification and position Oman as a leading destination for investment and tourism. As we continue to deliver innovative financial solutions tailored to the ambitions of our partners, we remain steadfast in our vision to offer an integrated banking experience that creates sustainable value for our clients and contributes meaningfully to the national economy.' Structured as a combination of term and revolving loan facilities, the agreement provides Al Mouj Muscat with the financial flexibility to accelerate ongoing and future developments, enhance operational efficiency, and pursue strategic expansion. This support will not only strengthen its diverse portfolio of residential, commercial, and hospitality assets but also enable the delivery of elevated experiences that meet the evolving expectations of its community, investors, and partners—setting new benchmarks for excellence in the real estate sector within the Sultanate. Nasser Al Sheibani, CEO of Al Mouj Muscat, commented: 'Since the inception of Al Mouj Muscat in 2006, we have shouldered a great responsibility to become Omans' premier waterfront development and also a benchmark project for integrated mix-use developments. This agreement with Sohar International is a testament to the strength of our financial position and a clear vote of confidence in our vision for the future of the project'. The facility also underscores the strength and maturity of Oman's banking sector, highlighting the power of national institutional collaboration in advancing economic diversification. With this agreement, Al Mouj Muscat reinforces its foundation to create long-term value and solidify its position as a dynamic hub for lifestyle, leisure, and investment in the Sultanate. This partnership also reflects Sohar International's broader mandate to deliver impactful financial solutions that foster socio-economic progress, generate employment, and attract sustainable investment. By focusing on high-impact sectors, the Bank remains committed to building strategic partnerships that accelerate development and contribute to shaping a resilient and forward-looking national economy. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
2 days ago
- Business
- Times of Oman
Strategic credit facility agreement valued at OMR63mn signed
Muscat: In a significant move to advance economic growth and sustainable urban development, Sohar International and Al Mouj Muscat have signed a Memorandum of Understanding for a strategic credit facility agreement valued at OMR63 million to Al Mouj Muscat. This agreement reflects the shared commitment of all parties to support the Sultanate's long-term prosperity through innovation, high-quality urban development, and strong financial stewardship enabled by trusted institutional partnerships. Abdulwahid Al Murshidi, Chief Executive Officer of Sohar International, said: 'At Sohar International, we take great pride in actively contributing to the Sultanate's infrastructure development, which is central to Oman's broader national growth agenda. Our support for Al Mouj Muscat visionary project through this strategic credit facility reflects our commitment to empowering landmark initiatives that drive economic diversification and position Oman as a leading destination for investment and tourism. As we continue to deliver innovative financial solutions tailored to the ambitions of our partners, we remain steadfast in our vision to offer an integrated banking experience that creates sustainable value for our clients and contributes meaningfully to the national economy.' Structured as a combination of term and revolving loan facilities, the agreement provides Al Mouj Muscat with the financial flexibility to accelerate ongoing and future developments, enhance operational efficiency, and pursue strategic expansion. This support will not only strengthen its diverse portfolio of residential, commercial, and hospitality assets but also enable the delivery of elevated experiences that meet the evolving expectations of its community, investors, and partners—setting new benchmarks for excellence in the real estate sector within the Sultanate. Nasser Al Sheibani, CEO of Al Mouj Muscat, commented: 'Since the inception of Al Mouj Muscat in 2006, we have shouldered a great responsibility to become Omans' premier waterfront development and also a benchmark project for integrated mix-use developments. This agreement with Sohar International is a testament to the strength of our financial position and a clear vote of confidence in our vision for the future of the project'. The facility also underscores the strength and maturity of Oman's banking sector, highlighting the power of national institutional collaboration in advancing economic diversification. With this agreement, Al Mouj Muscat reinforces its foundation to create long-term value and solidify its position as a dynamic hub for lifestyle, leisure, and investment in the Sultanate. This partnership also reflects Sohar International's broader mandate to deliver impactful financial solutions that foster socio-economic progress, generate employment, and attract sustainable investment. By focusing on high-impact sectors, the Bank remains committed to building strategic partnerships that accelerate development and contribute to shaping a resilient and forward-looking national economy.
Zawya
2 days ago
- Business
- Zawya
Sohar International & Al Mouj Muscat sign MoU for strategic credit facility agreement valued at OMR 63mln
Muscat: In a significant move to advance economic growth and sustainable urban development, Sohar International and Al Mouj Muscat have signed a Memorandum of Understanding for a strategic credit facility agreement valued at OMR 63 million to Al Mouj Muscat. This agreement reflects the shared commitment of all parties to support the Sultanate's long-term prosperity through innovation, high-quality urban development, and strong financial stewardship enabled by trusted institutional partnerships. Mr. Abdulwahid Al Murshidi, Chief Executive Officer of Sohar International, said: 'At Sohar International, we take great pride in actively contributing to the Sultanate's infrastructure development, which is central to Oman's broader national growth agenda. Our support for Al Mouj Muscat visionary project through this strategic credit facility reflects our commitment to empowering landmark initiatives that drive economic diversification and position Oman as a leading destination for investment and tourism. As we continue to deliver innovative financial solutions tailored to the ambitions of our partners, we remain steadfast in our vision to offer an integrated banking experience that creates sustainable value for our clients and contributes meaningfully to the national economy.' Structured as a combination of term and revolving loan facilities, the agreement provides Al Mouj Muscat with the financial flexibility to accelerate ongoing and future developments, enhance operational efficiency, and pursue strategic expansion. This support will not only strengthen its diverse portfolio of residential, commercial, and hospitality assets but also enable the delivery of elevated experiences that meet the evolving expectations of its community, investors, and partners—setting new benchmarks for excellence in the real estate sector within the Sultanate. Mr. Nasser Al Sheibani, CEO of Al Mouj Muscat, commented: 'Since the inception of Al Mouj Muscat in 2006, we have shouldered a great responsibility to become Omans' premier waterfront development and also a benchmark project for integrated mix-use developments. This agreement with Sohar International is a testament to the strength of our financial position and a clear vote of confidence in our vision for the future of the project'. The facility also underscores the strength and maturity of Oman's banking sector, highlighting the power of national institutional collaboration in advancing economic diversification. With this agreement, Al Mouj Muscat reinforces its foundation to create long-term value and solidify its position as a dynamic hub for lifestyle, leisure, and investment in the Sultanate. This partnership also reflects Sohar International's broader mandate to deliver impactful financial solutions that foster socio-economic progress, generate employment, and attract sustainable investment. By focusing on high-impact sectors, the Bank remains committed to building strategic partnerships that accelerate development and contribute to shaping a resilient and forward-looking national economy. About Sohar International: Sohar International is Oman's fastest-growing bank, guided by a clear vision to become a world-leading Omani service company that helps customers, communities, and people prosper and grow. With a purpose to help people 'win' by delivering responsive banking for their ever-changing world, the bank offers innovative solutions across Commercial and Investment Banking, Wealth Management, Islamic Banking, and more. Operating with a strong digital-first approach and an expanding regional footprint—including presence in the Kingdom of Saudi Arabia—Sohar International is committed to driving value through strategic partnerships and a dynamic customer experience. Learn more at
Zawya
3 days ago
- Business
- Zawya
Sohar International honored with three awards at NABS 2025
Muscat: Reaffirming its stature as a multifaceted banking leader—defined by strong growth, purposeful innovation, and societal impact, Sohar International was honored with three prestigious accolades at the Oman Banking and Finance Awards, held during the landmark 10th edition of the New Age Banking Summit (NABS) 2025: Best Digital Transformation Initiative, Most Innovative CSR Initiative, and Best Bank – Growth. These recognitions underscore the bank's ability to navigate market dynamics while delivering lasting value to stakeholders and contributing to Oman's broader socio-economic ambitions. Held under the patronage of H.E. Ahmed bin Ja'afer Al Musalmi, Governor of the Central Bank of Oman, and hosted by H.E. Shaikh Salim Bin Mustahail Al Mashani, with support from the Oman Banks Association, NABS 2025 brought together top financial leaders, innovators, and policymakers under the theme 'The Future of Banking: Navigating Disruption, Sustainability & Customer- Centric Innovation'. Commenting on the occasion, Mr. Abdulwahid Mohamed Al Murshidi, Chief Executive Officer at Sohar International, stated, 'These awards are a reflection of our collective ethos, one that integrates future-forward thinking with impact-led execution. At Sohar International, we do not pursue innovation as a trend, but as a means to elevate the human experience, foster economic vitality, and create ripple effects that benefit society at large. Whether through breakthrough technologies, performance-driven financial strategy, or inclusive social initiatives, we remain committed to being a bank that keeps pace with evolving landscapes while building a strong future for generations to come.' Revered as the largest conference of its kind in Oman's banking and non-banking financial sector, NABS 2025 convened over 150 C-level delegates and decision-makers from more than 100 banking, fintech, and technology firms. Against this backdrop, Sohar International's accolades reflected its multidimensional strengths and forward-looking approach to banking. The Best Digital Transformation Initiative award recognized the bank's success in deploying intelligent platforms and streamlining operations to offer seamless, customer-centric digital experiences—embedding agility and responsiveness across its ecosystem. This spirit of innovation extended to social impact, earning Sohar International the Most Innovative CSR Initiative award for its 'Every Like Adds Light' campaign. Launched during Ramadan, the initiative transformed every social media interaction into a charitable donation—amassing over 600,000 engagements and mobilizing nationwide goodwill into tangible support for philanthropic causes. Anchoring these achievements was the Best Bank – Growth award, where Sohar International led across all key growth indicators—gross loans, customer deposits, fee income, operating profit, and net worth—within the large-bank category. The winners of this year's Oman Banking and Finance Awards were selected through an extensive survey conducted by OER and United Securities, evaluating banks and NBFCs on key financial metrics from year 2021 to 2024. Key themes explored at the summit included the role of AI and machine learning in enhancing operations and customer engagement, the acceleration of digital transformation, evolving cybersecurity frameworks, open banking and FinTech collaboration, and the growing importance of ESG in shaping sustainable financial strategies. 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.
Zawya
05-05-2025
- Business
- Zawya
Sohar International Bank – Oman's fastest growing bank here to serve you
Riyadh: In a significant milestone marking its strategic regional growth, Sohar International one of Oman's fastest-growing and most dynamic banks known for its innovative solutions and customer-centric approach officially inaugurated its new branch in Riyadh, Kingdom of Saudi Arabia. The event was held under the patronage of H.E. Yazeed Ahmed AlSheikh, Deputy Governor for Supervision, and was graced by the presence of members of the Omani Embassy in Saudi Arabia. This expansion reinforces Sohar International's commitment to fostering cross-border partnerships, enhancing bilateral investment flows and foreign direct investment (FDI), and opening new avenues for collaboration between Oman and Saudi Arabia. The move is also aligned with supporting the broader economic development goals of both nations, contributing to Oman Vision 2040 and Saudi Vision 2030 through economic diversification and private sector empowerment. While operations had already commenced in the year 2024 following regulatory approvals, the inauguration served as a formal affirmation of a carefully phased market entry strategy reinforcing the bank's commitment to 'banking beyond borders' and expanding Oman's financial footprint in high-potential markets. The inauguration of the branch was attended by the bank's Board of Directors and Members of the Executive Management team led by the bank's Chief Executive Officer, Mr. Abdulwahid Al Murshidi. The event also witnessed the participation of high-level dignitaries and senior stakeholders from the Saudi public and private sectors. Speaking about the event, Mr. Abdulwahid Al Murshidi said, 'This event represents more than a milestone for Sohar International it reflects the clarity of purpose with which we approach growth. As we continue to evolve as a forward-looking financial institution, our focus remains on building meaningful relationships, expanding our institutional capabilities, and contributing to a more dynamic, opportunity-rich environment for our stakeholders. Our presence in the Kingdom of Saudi Arabia is a strategic expression of that philosophy measured, deliberate, and aligned with the long-term interests of those we serve.' The launch marks a natural progression of Sohar International's regional growth strategy deepening commercial ties between the Sultanate and the Kingdom of Saudi Arabia while fostering collaboration across high-impact economic sectors. With Riyadh emerging as a central hub to some of the region's most compelling growth opportunities, the bank's presence in the Kingdom enables it to support clients with innovative, agile, and value-driven financial solutions. The expansion into Saudi Arabia further reinforces the bank's position as a trusted enabler of cross-border banking and investment. By bridging two complementary economies, the new branch plays a pivotal role in strengthening trade and investment flows, offering Omani businesses enhanced access to one of the region's most dynamic and lucrative markets. Guided by its customer-centric ethos, Sohar International continues to prioritize evolving client needs through bespoke advisory, structured financing, and digitally enabled banking experiences. Delivering seamless, future-ready services continues to be a core pillar of its value proposition designed to meet the expectations of an increasingly sophisticated customer base. Grounded in purpose and driven by innovation, Sohar International continues to align its business objectives with national priorities amplifying Oman's financial presence on the regional stage and reaffirming its role as a catalyst for sustainable growth, strategic collaboration, and long-term value creation.
