29/12/2025 04:40 AST
Sohar International Bank has received approval from the Central Bank of Oman (CBO) to establish a representative office in Hong Kong, marking a key milestone in the bank's international expansion and reinforcing its commitment to strengthening Oman's links with major global financial markets.
The CBO's approval underlines Sohar International's ambition to play a more active role in facilitating cross-border trade, investment and financial collaboration between Oman and Asia. The move is also aligned with Oman Vision 2040, which aims to promote economic diversification, strengthen international trade linkages and position the sultanate as a globally recognised financial and commercial hub.
In a press statement, Abdulwahid al Murshidi, Chief Executive Officer of Sohar International, said "Securing CBO's approval to establish a representative office in Hong Kong represents a pivotal step in advancing Sohar International's long-term international strategy. Asia is central to global trade, capital flows, and economic influence, and our presence in one of its leading financial hubs will enhance our ability to support clients as they navigate increasingly interconnected markets.
"This expansion comes as a continuation of our previous steps, including the recent inauguration of the Riyadh branch in Saudi Arabia. This expansion reflects our commitment to establishing Sohar International as a trusted Omani banking partner that bridges geographies, enables opportunity, and contributes to the Sultanate's broader economic ambitions."
Hong Kong continues to serve as a major hub for global economic activity and a key gateway for cross-border investment and trade. Establishing a representative office in the city will enable Sohar International to deepen institutional relationships, engage more closely with Asian financial institutions and corporates, and encourage knowledge-sharing in line with international best practices.
The office will also provide enhanced on-the-ground support to clients involved in international trade, treasury operations and investment activities. It is intended to act as a platform for relationship-building, market engagement and business development, strengthening the bank's role in connecting Omani businesses with global opportunities while attracting international interest into the Sultanate.
This development forms part of Sohar International's broader ambition to build a balanced international footprint across key financial corridors and major business hubs. Following the opening of its Riyadh branch, the bank continues to advance a diversified geographic strategy linking Asia, the Middle East and other global markets.
Together, these milestones reflect Sohar International's objective of operating as a globally oriented Omani banking institution, supporting cross-border growth, enhancing international connectivity and delivering sustainable long-term value for both clients and the national economy.
Muscat Daily
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