Sohar International, acclaimed as Oman's fastest-growing bank, proudly announces the initiation of its office operations in the Capital City of Riyadh, Kingdom of Saudi Arabia. Following approval from the Saudi Central Bank (SAMA), this strategic move is not merely a geographical extension but a testament to the bank’s remarkable journey of growth and excellence since its inception. Leveraging its digital prowess and customer-centric ethos, the bank aims to replicate its success in empowering corporations and contributing to large-scale government projects.
Sohar International's new office offers a comprehensive suite of banking services meticulously designed to cater to the diverse financial needs of businesses and communities across Saudi Arabia. Backed by a diverse product portfolio and an in-depth understanding of GCC markets and the intricacies of Omani-Saudi trade dynamics, the bank's comprehensive financial and advisory services are geared towards empowering businesses to navigate Saudi Arabia's economic landscape seamlessly. Sohar International boasts a commendable track record in accelerating corporate growth and providing expertise in large-scale government projects—a legacy it is steadfastly committed to upholding as it expands into Saudi Arabia.
Mr. Ahmed Al Musalmi, Chief Executive Officer of Sohar International, illustrating the strategic significance of this expansion stated, “This is a landmark moment in Sohar International's journey as we embark on our expansion into the Saudi Arabian market. This strategic move not only represents our commitment to growth and excellence but also signifies our dedication to being at the forefront of financial innovation and service in the GCC region. Entering Saudi Arabia's dynamic economy allows us to offer our unique blend of digital prowess and customer-centric services to a wider range of corporate clients. This expansion is a testament to our successful growth trajectory over the past five years and underscores our resolve to be a leading financial partner in the region's economic transformation."
Sohar International has embarked on an impressive growth journey marked by strategic initiatives, innovative advancements, and a steadfast commitment to excellence. Through a dedicated focus on customer-centricity, the bank has experienced substantial expansion, broadening its range of financial offerings and geographic footprint. Aligned with the nation's ambitious goals, Sohar International actively contributes to Oman's Vision 2040. As a key player in Oman's financial landscape, it has been pivotal in supporting the country's economic diversification efforts, fostering entrepreneurship, and driving financial inclusion.
Mr. Khalid Al Guthami, Country Chief Executive Officer of Sohar International’s KSA Branch, elaborated, “The launch of Sohar International's operations in Riyadh, Saudi Arabia marks a new chapter in our operational excellence. Our presence in Saudi Arabia is strategically positioned to contribute to the growing Economies of Oman and KSA, the Kingdom’s ambitious Vision 2030 initiatives and to serve government and private sectors banking needs in both of our countries. We aim to serve as a bridge for corporations looking to explore opportunities in Oman and vice versa. We are geared to deliver a comprehensive suite of financial solutions that resonate with the unique needs of the Saudi market. Our operational strategy is deeply aligned with the region's economic visions, aiming to facilitate seamless financial transactions and advisory services that empower businesses and support large-scale projects. This move is a leap towards fostering stronger business ties within the GCC and beyond, as we continue to uphold our promise of excellence and innovation in all our endeavours."
Sohar International is poised to become the preferred financial partner for transformative projects aligned with Saudi Vision 2030. The bank's offerings in Saudi Arabia will include working capital, trade finance, advanced cash management, and risk mitigation solutions, all supported by a suite of digital banking tools. This initiative is a reflection of Sohar International’s commitment to delivering responsive, top-tier banking services, enhancing both growth and prosperity for its customers.
In sync with Saudi Arabia’s drive towards a digital economy, Sohar International is well-prepared to support the Kingdom’s diversification efforts. The bank's expertise spans across various sectors, including travel, tourism, logistics, and cultural initiatives, positioning it as a catalyst for economic and cultural advancement in the region.
