Muscat. In its ongoing effort to make Sharia-compliant financial solutions more accessible to the local community, Sohar Islamic – the dedicated Islamic banking window of Sohar International – has commenced operations in its new branch at Souq Al Haffa in the Dhofar Governorate on 29 December 2024. This marks the third branch in Dhofar and the 20th in Sohar Islamic’s growing network, demonstrating the bank’s commitment to providing ease and accessibility to its customers. Located in a key hub in Dhofar, the new branch aligns with Sohar Islamic’s strategic objective to expand its network of branches, and support Oman Vision 2040 goals of enhancing financial inclusion.

As a full-fledged branch combining both retail and corporate services, the new branch offers a diverse range of Sharia-compliant products and services tailored to the unique needs of its clientele. In addition to day-to-day banking services, clients can access personalized financing solutions, various deposit accounts, cheque and card processing, and remittance services, ensuring an efficient and seamless banking experience.  For corporate customers, Sohar Islamic provides Sharia-compliant wholesale banking offerings alongside financing solutions for Large Corporates, Small and Medium Enterprises (SMEs), and government institutions, among other services. Supported by dedicated staff, corporate customers are also assigned a relationship manager to facilitate their banking needs effectively.

Commenting on commencing operations, Mr. Abdul Wahid Al Murshidi, Chief Islamic Banking Officer, stated, “In today’s continuously evolving landscape, our branches remain vital touchpoints, fostering meaningful connections, delivering personalized services, and more convenience to the customers. The commencement of operations at our Souq Al Haffa branch – the third in Dhofar, highlights our commitment to meeting the governorate’s increasing need for Sharia-compliant financial services while establishing a presence in key commercial hubs to offer accessible and convenient banking solutions. This expansion aligns with Sohar Islamic’s commitment to fostering financial inclusion and empowering local communities."

He added, “By complementing advancements in digital banking with an enhanced physical presence, we are creating a comprehensive and unified banking experience that blends the enduring principles of Sharia with forward-looking innovation. This milestone underscores our dedication to meeting the evolving needs of our customers and contributing meaningfully to the country’s progress.”

Sohar Islamic has further strengthened its presence in the governorate with the opening of the branch, reinforcing its commitment to serving the local community with Sharia-compliant banking solutions. Staffed by a team of skilled Omani professionals, the branch is well-positioned to fulfill customer needs.  The new branch offers a comprehensive range of retail and corporate banking services, tailored to meet the specific requirements of its customers. With a focus on convenience and quality, Sohar Islamic continues to bring cutting-edge Islamic banking solutions closer to the communities it serves.

This expansion builds on the earlier inauguration of the Khazaen branch, solidifying Sohar Islamic’s leadership in Islamic banking. It underscores the bank’s commitment to long-term value creation for its customers and the wider community. With a strengthened presence in key regions, Sohar Islamic is poised to drive sustainable growth and innovation.

About Sohar International

With the vision to become a world-class Omani services company that helps customers, community and people to prosper and grow, Sohar International operates with a purpose to help people 'win' by delivering responsive banking for their ever-changing world, complementing their growth and prosperity with international standard service delivery. The Bank seeks to redefine banking in Oman through transformational developments centred on the principles of More Velocity, making everything simple and fast; More Value, ensuring relevance and connectivity to customers’ world; and More Vision, liberating stakeholders through talented leadership. www.soharinternational.com