Muscat: Keeping in line with its commitment towards contributing to the development of the nation’s economy and playing an active role in the government’s income diversification agenda, Sohar International signed a Memorandum of Understanding (MoU)with Sohar Port and Free Zone (SFZ) for further boosting trade and commercial activities in the zone and the national economy in general.
As per the signed MoU, the bank will explore potential capacities of business in new value-creation areas, including collaboration for new products, services and technologies for the existing and future investors registering with Sohar Port and Free Zone.
The MoU was signed on Sunday, February 16, 2020, at the Sohar International’s head office at Waterfront in Shatti Al Qurum. Signing the agreement on behalf of Sohar International was Chief Executive Officer, Ahmed Al Musalmi whereas Sohar Port and Freezone was represented by its Chief Executive Officer, Omar Mahmood Al Mahrizi. Also present at the ceremony were Khalil Al Hedaifi, Chief Retail Banking Officer at Sohar International and Abdul Wahid Al Murshidi, Chief Islamic Banking Officer of Sohar International, along with other senior officials from the bank and Sohar Port and Freezone.
Highlighting the importance of the MoU to the national economy, Al Musalmi said, “With the government’s economic diversification program, further development of Sohar Free Zone will simultaneously contribute to the steady economic growth of the Sultanate. With the availability of easy financial services, we anticipate attracting a number of new investors from all over the world. This MoU also embodies our constructive and positive attitude to always play an active role in advancing Oman’s diversification agenda and supporting socio-economic development.”
Al Mahrizi said, “Sohar Port and Freezone plays a vital role in strengthening the economic growth of the country, especially in the fields of trade, industry and services. We are excited to collaborate with Sohar International and utilize their extensive range of banking services and solutions. This MoU comes as part of our value proposition to contribute to the growth and expansion of our established companies within Sohar Freezone.”
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