Sohar International is on the brink of a substantial leap forward with the approval from the Saudi Central Bank (SAMA) to initiate its services in the Kingdom of Saudi Arabia. This marks a significant step in the bank’s journey to become an exceptional Omani services company, dedicated to fostering growth and prosperity. The strategic decision underscores Sohar International’s commitment to innovation, customer-centric services, and a forward-looking approach to sustainable growth.
The bank’s foray into Saudi Arabia not only cements its role as a prominent player in the region but also facilitates Omani corporations’ entry into a new, prosperous market. Sohar International, being the second-largest bank in Oman, boasts a strong track record as a trusted financial advisor and partner across diverse sectors. With its robust financial infrastructure and extensive expertise, the bank is well-equipped to support and guide corporates seeking to establish a footprint in the Saudi market.
Commenting on this strategic expansion, Chief Executive Officer of Sohar International, Mr. Ahmed Al Musalmi, reflected on the significance of the move. The bank’s entrance into the Saudi market is more than geographical growth—it’s a bridge to new opportunities, strengthening the ties between the two countries
, he stated. Al Musalmi emphasized how this international venture is a dual conduit, bringing global excellence to Oman and showcasing Omani strengths to the world, thus reinforcing the country’s economic fortitude and its innovative approach to financial initiatives.
Al Musalmi also highlighted that at the heart of the bank’s strategic expansion is the fusion of personalized services and cutting-edge offerings, which are central to the bank’s ambition. These elements are crucial for not only scaling growth but also continuously improving the customer experience within a dynamic financial environment.
The bank’s presence in Saudi Arabia aims to foster a mutually beneficial economic relationship, promoting growth and cooperation. With the Saudi market ripe for business ventures, Sohar International anticipates a significant boost in cross-border commerce. The expansion is also expected to spur job creation, encourage knowledge transfer, and enhance skill development. Moreover, the bank’s unwavering commitment to innovative products and services will empower Omani entrepreneurs with the tools and resources necessary to stay ahead in the market.
This international expansion of Sohar International signifies more than a corporate milestone; it represents a moment of national pride for Oman, showcasing the country’s expanding influence in the region. As the bank strengthens its regional presence, it ensures that the local community is a part of a broader narrative of economic development and regional prominence, fostering a collective sense of accomplishment and optimism for the future.