Latest news with #AbdulwahidalMurshidi
Muscat Daily
02-06-2025
- Business
- Muscat Daily
Sohar International, Al Mouj sign MoU for RO63mn credit facility
Muscat – Sohar International and Al Mouj Muscat have signed a Memorandum of Understanding (MoU) for a strategic credit facility agreement valued at RO63mn to Al Mouj Muscat. 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 Al Mouj's 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. In a press statement, 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.' Nasser al Sheibani, CEO of Al Mouj Muscat, said, '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 credit 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.
Muscat Daily
04-05-2025
- Business
- Muscat Daily
Sohar International marks official inauguration of KSA branch
Muscat – As part of its ongoing pursuit of strategic growth and enhanced regional relevance, Sohar International recently celebrated the official inauguration of its branch in Riyadh, Kingdom of Saudi Arabia. The event was held under the patronage of H E Yazeed Ahmed al Sheikh, Deputy Governor for Supervision, and was graced by the presence of members of the Omani Embassy in Saudi Arabia. This expansion underscores Sohar International's pivotal role in fostering cross-border partnerships, facilitating bilateral investment flows and foreign direct investment (FDI), and creating new avenues for Omani enterprises. It contributes to the broader objectives of economic development and supports key pillars of Oman Vision 2040, particularly in the areas of 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, 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, 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.
Muscat Daily
03-05-2025
- Business
- Muscat Daily
Sohar International officially inaugurates Saudi branch
Muscat – Sohar International recently celebrated the official inauguration of its branch in Saudi Arabia. The event was held under the patronage of Yazeed Ahmed AlSheikh, Deputy Governor for Supervision, Suadi Central Bank, and was graced by the presence of members of the Omani embassy in Saudi Arabia. This expansion underscores Sohar International's pivotal role in fostering cross-border partnerships, facilitating bilateral investment flows and foreign direct investment (FDI), and creating new avenues for Omani enterprises. It contributes to the broader objectives of economic development and supports key pillars of Oman Vision 2040, particularly in the areas of 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, Abdulwahid al Murshidi. The event also witnessed the participation of high-level dignitaries and senior stakeholders from the Saudi public and private sectors. In a press release, 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 Saudi Arabia is a strategic expression of that philosophy – measured, deliberate, and aligned with the long-term interests of those we serve.' The launch of Saudi branch marks a natural progression of Sohar International's regional growth strategy – deepening commercial ties between the sultanate and Saudi Arabia while fostering collaboration across high-impact economic sectors.
