Mashreq, one of the leading financial institutions in the MENA region, has announced its official entry into Oman, marking a significant milestone in the Sultanate’s evolving financial landscape. While this is the bank’s first direct foray into the Omani market, the connection is steeped in history. Originally established in 1967 as the Bank of Oman, Mashreq’s entry into the Sultanate reflects both its regional roots and its commitment to fostering economic growth and innovation.

At the forefront of banking innovation for over five decades, Mashreq has cemented its reputation as a pioneer in banking, blending tradition with cutting-edge technologies to redefine customer experiences. This expansion aligns with Oman’s Vision 2040, a national strategy aimed at economic diversification and strengthening global competitiveness. By contributing its expertise, Mashreq is poised to play a vital role in supporting the Sultanate’s financial goals and long-term prosperity.

Mashreq’s entry into Oman is underpinned by a comprehensive suite of financial services designed to address the needs of corporate and public sector clients. These include corporate banking, treasury, global transaction banking, and sustainable finance. These offerings are tailored to unlock potential in key industries such as logistics, tourism, manufacturing, and renewable energy— among other sectors critical to Oman’s national economic objectives.

Mashreq’s entry into the Omani market underscores the strategic importance of Oman as a key pillar to the bank’s international growth ambitions. The Sultanate’s dynamic economy and its strategic location make it an essential market for fostering regional integration. Mashreq aims to provide not only financial solutions but also support Oman’s national priorities, contributing to sustainable economic development. Mashreq is committed to supporting entrepreneurial talent and promoting knowledge-driven growth in the country. It aims to go beyond traditional banking, to be a strategic partner in building a diversified and resilient economy that benefits future generations.

Mashreq’s approach to banking is driven by innovation and customer-centricity. Leveraging advanced technologies such as artificial intelligence, data analytics, and open banking, the bank aims to set new benchmarks in convenience, security, and operational efficiency. Its commitment to excellence has earned it accolades as the fastest-growing banking brand in the Middle East by Brand Finance’s 2024 Banking 500 rankings and has consistently secured Euromoney’s “Market Leader in the Middle East” title for trade finance and cash management from 2019 to 2023.

This entry into Oman comes at a time of growing demand for financial services that align with global trends and local priorities. Mashreq’s proven track record of adaptability and its ability to deliver industry-leading solutions position it as a trusted partner for businesses seeking to navigate today’s complex economic landscape.

Mashreq’s ability to combine global reach with local insights is one of its key strengths. This advantage enables the bank to navigate regulatory complexities while optimizing financial operations for clients. By offering tailored solutions that drive efficiency and resilience, Mashreq empowers businesses to achieve long-term growth and competitiveness.

The timing of Mashreq’s expansion into Oman underscores the Sultanate’s rising prominence as a financial hub. By addressing the unique needs of its clients and aligning its offerings with Oman’s Vision 2040, Mashreq is well-positioned to contribute to the country’s journey toward economic transformation.