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Muscat – Mashreq, one of the leading financial institutions in the Middle East and North Africa region, has announced its entry into Oman, aiming to strengthen its position with a range of personalised financial services tailored to the sultanate’s evolving corporate and public sectors.
This strategic move, which was unveiled at a press conference at the National Museum in Muscat on Monday, underscores Mashreq’s commitment to contributing to Oman’s Vision 2040, with ambitions to drive economic diversification and enhance Oman’s standing in the global financial landscape.
Mashreq’s entry into Oman will introduce a comprehensive suite of banking services, including treasury, global transaction banking, and sustainable finance. Through its innovative approach and robust operational structure, the bank aims to unlock value in critical sectors such as tourism, logistics, manufacturing, and renewable energy, in line with Oman’s economic objectives.
According to Ahmed Abdelaal, Group CEO of Mashreq, Oman’s strategic location and dynamic economic landscape make it essential to Mashreq’s international growth ambitions. He said, “Our goal is to support Oman’s economic objectives through tailored financial solutions that not only enhance regional integration but also reinforce Oman’s influence in the global financial ecosystem. Our commitment is to high-growth markets, leveraging trade, investment, and corporate banking opportunities while delivering an exceptional client experience based on convenience, accessibility, and ESG-driven initiatives.”
Speaking at the press conference, Tarek el Nahas, Group Head of International Banking at Mashreq, said the bank’s entry into the sultanate aligns perfectly with Oman’s Vision 2040 and reflects their commitment to unlocking unprecedented value through corporate banking, sustainable finance, and digital innovation.
“Mashreq is deeply committed to pushing the boundaries of innovation within Oman’s financial ecosystem. We are driven by the opportunity to contribute to key sectors, including tourism, logistics, manufacturing, and renewable energy. Innovation is at the heart of our mission. From digital onboarding to AI-driven analytics, Mashreq is dedicated to introducing cutting-edge solutions that redefine banking in Oman,” he said.
Nahas added, “Our expansive international footprint grants our clients access to some of the most strategically vital markets in the region. By combining global reach with deep local expertise, we navigate regulatory landscapes with agility, offering solutions that drive financial efficiency and resilience. This approach empowers clients to optimise their cross-border operations, capturing opportunities essential to long-term success in today’s competitive market.”
Through advanced technology, Mashreq aims to support the next generation’s entrepreneurial spirit, drive smart city development, and contribute to a competitive, knowledge-driven economy in Oman, Nahas said, adding, “Here in Oman, we envision a future where businesses can thrive, entrepreneurs can innovate, and financial resilience is accessible to all.”
AlSalt Mohammed al Kharusi, Mashreq’s Country Head for Oman, noted that the banking sector in Oman is poised for growth in 2025, supported by strong fundamentals, digital transformation, and a governmental focus on economic diversification and stability, as part of the ambitious national growth strategies of Vision 2040.
“We are inspired by this progress and see it as an opportunity to empower Omani businesses and government entities with cutting-edge financial solutions that drive economic value and long-term impact. By leveraging advanced digital platforms, artificial intelligence, and fintech collaboration, Mashreq will redefine banking experiences in Oman, ensuring they are not only efficient but also tailored to our clients’ aspirations,” Kharusi said.
Kharusi further said that Mashreq’s expansion into Oman reinforces the bank’s dedication to being a strategic partner in Oman’s economic development.
“Our focus is on fostering a resilient generation of entrepreneurial talent and supporting the growth of a dynamic, knowledge-driven economy. We are fully committed to supporting Oman’s national priorities, advancing growth, and contributing to a sustainable, prosperous future for generations to come,” he added.
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