MUSCAT: National Bank of Oman (NBO) has signed a strategic Memorandum of Understanding with Oman National Engineering & Investment Co (ONEIC) in order to jointly explore technical and financial opportunities. Under the agreement, the bank will cooperate with ONEIC on a range of shared digital solutions, distribution channels, infrastructure and training courses, with the aim to generate additional revenue streams, create sustainable and scalable partnership models, and reach untapped markets.
Abdullah Zahran Al Hinai, Chief Executive Officer of NBO, said, “As part of our efforts to enrich the Sultanate’s banking industry with the latest technologies and know-how, we are pleased to have joined with ONEIC. The partnership is a major step in helping us to maximise our digital and technical capabilities, develop our products and services, provide added value to our customers, while adding overall economic value according to Oman’s 2040 Vision.”
Dr Rashid Mohamed Al Ghailani, CEO of ONEIC, added, “Our agreement with NBO is a welcome addition to our growing portfolio of partnerships and a testament to how such partnerships between government institutions and private sector companies can promote innovative thinking and growth within the economy. Through it, we look forward to delivering added value to people across the Sultanate.”
Through a number of partnerships with both public and private entities, NBO is providing integrated banking services with an innovative approach. With a range of compelling solutions, products and world-class customer service, the bank is helping to support the Sultanate’s development, while cementing its position as a preferred financial institution.