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Sohar Islamic opens first Islamic bank in Musandam

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MUSCAT: In line with the bank’s ongoing organic expansion strategy to serve customers and achieve further financial inclusion, Sohar Islamic - Sohar International’s Islamic Window commenced operations at its new branch in Khasab, making it the very first Islamic bank in the Governorate of Musandam.

Commenting on the commencement of operations at the new branch, Abdulwahid al Murshidi, Chief Islamic Banking Officer at Sohar International said, “The city of Khasab occupies an important position on the geographic map and continues to witness developments. As the first Islamic bank branch in the region, we seek to support the local community by actively promoting the benefits of Sharia-compliant financing, and serve customers in this part of the Sultanate of Oman. Our focus is to be able to capitalise on the socio-economic growth that is being witnessed in the region, by playing the role of a catalyst and key enabler of this growth through progressive Islamic banking solutions. While digitalisation continues to be a strategic approach for the bank, we strongly believe in being able to service our customers through physical premises. This helps us in building stronger bonds and better understand our customers in order to provide tailor-made Sharia-compliant solutions to them. The new branch will uphold Sohar Islamic’s values of customer-centricity, operational efficiency and strong adherence to global Islamic banking norms.”

Located strategically in the city of Khasab, the new branch is fully equipped to offer the entire suite of Sharia-compliant financing solutions to customers. A state-of-the-art facility, the branch is a reflection of the distinct brand value and delivers the same level of excellence that Sohar Islamic has been revered for. Incorporating leading technology in all its operations, it ensures that all the banking processes are seamless. Inherently committed to supporting the local workforce, the Khasab branch has also employed a team of highly trained, dedicated and enthusiastic professionals who not only reserve the knowledge to handle various operations but also have a deeper understanding of the preferences, sentiments and cultural values of the region. By being in tune with the community, Sohar Islamic seeks to drive better engagement with customers. The branch is open to welcome customers and potential customers from 8:00 am-2:00 pm from Sunday till Thursday (Ramadhan Timing: 9:00 am to 1:00 pm). The branch provides a 24-hour digital lobby with a fully functional ATM/CDM. With the new branch added to its networks, the total number of Sohar Islamic’s branches in Oman has now reached 9.

“The growing awareness of Islamic banking in the Sultanate of Oman is evident from the increase in customer demand for Islamic finance options. With an increasing number of individuals joining Oman’s workforce, and opening small and medium businesses, it is only apparent to be able to service them through diverse banking propositions. We are delighted that we will be the first ones to cater to the people of Khasab”, added Al Murshidi.

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