Question 1

What is Sohar International?

Accepted Answer

Sohar International is a leading commercial bank in the Sultanate of Oman, offering comprehensive retail, corporate, investment, and Islamic banking services. As one of the fastest-growing and most profitable banks in Oman, it serves individual customers, small and medium enterprises (SMEs), large corporations, government institutions, and wholesale banking clients. The bank operates with a vision to become a world-class Omani service company that helps customers, communities, and people prosper and grow.

Sohar International is a publicly listed company (MSM:BKSB) on the Muscat Securities Market with approximately 1,548 employees.

Question 2

When was Sohar International founded?

Accepted Answer

Sohar International was founded in 2007 as Bank Sohar SAOG. The bank was established with the purpose of contributing to the economic development of Oman by providing innovative banking solutions to individuals and businesses.

In December 2018, Bank Sohar underwent a significant transformation and rebranded to Sohar International at a ceremony held at the Royal Opera House in Muscat. This rebranding marked a strategic shift in the bank's vision, positioning itself to deliver "banking for their ever-changing world" with enhanced focus on digital innovation, customer-centricity, and international expansion.

Question 3

Where is Sohar International headquartered?

Accepted Answer

Sohar International is headquartered in Muscat, the capital city of the Sultanate of Oman. The bank's main office is located at the Waterfront Building in the Shatti Al-Qurum area of Muscat.

The bank also maintains a regional office in Riyadh, Saudi Arabia, which opened in 2024 following approval from the Saudi Central Bank (SAMA).

Question 4

Where does Sohar International operate?

Accepted Answer

Sohar International primarily operates throughout the Sultanate of Oman, maintaining an extensive network of branches and ATMs across the country. The bank provides customers access to over 650 OmanNet ATMs nationwide, ensuring 24/7 banking convenience throughout all regions of Oman.

In addition to its domestic operations, Sohar International has expanded its presence to Saudi Arabia, where it commenced operations in Riyadh in 2024. This strategic expansion supports cross-border banking between Oman and Saudi Arabia, facilitating bilateral investment flows and trade finance for businesses operating in both markets.

Question 5

What services does Sohar International offer?

Accepted Answer

Sohar International offers a comprehensive suite of banking services across multiple segments:

Retail Banking: Savings accounts, current accounts, minor accounts, youth accounts, term deposits, personal loans, education loans, housing loans, auto loans, debit cards, prepaid cards, and credit cards.

Corporate and Commercial Banking: Working capital financing, term loans, SME loans, contract financing, project financing, real estate financing, trade financing, cash management services, and salary management solutions.

Investment Banking: Capital markets services, debt and equity raising, asset management, escrow account services, custody and administration, and corporate advisory services.

Islamic Banking (Sohar Islamic): A full range of Sharia-compliant financial products including Islamic accounts, financing solutions, and investment products designed to meet the needs of customers seeking ethical banking alternatives.

Wealth Management: Financial advisory services, investment management, and personalized banking solutions for high-net-worth individuals and distinguished customers.

Digital Banking: Mobile banking app with 100,000+ downloads, internet banking platform, SMS banking, ATM and CDM (Cash Deposit Machine) services, digital debit cards, online bill payment, digital travel insurance, and smart card lock/unlock features.

Treasury and Foreign Exchange: FX advisory, interest rate advisory, treasury services, and multi-currency products supporting transactions in Omani Riyals, US Dollars, Sterling Pounds, Euros, and Japanese Yen.

Insurance Products: Motor vehicle insurance, travel insurance, term life insurance, personal accident insurance, critical illness coverage, domestic helper insurance, education shield products, and female cancer insurance.

Question 6

What makes Sohar International unique?

Accepted Answer

Sohar International distinguishes itself through several key characteristics:

Rapid Growth and Profitability: Recognized as one of the fastest-growing and most profitable banks in Oman, the bank has achieved numerous local, regional, and international accolades across various banking activities and initiatives.

Digital Innovation: The bank has invested heavily in state-of-the-art technology to deliver a seamless, customer-centric banking experience. Its mobile banking app and corporate internet banking platform incorporate advanced features designed for convenience and security. Features include instant digital debit card issuance, smart card lock/unlock functionality, and integrated services such as digital travel insurance and home maintenance booking.

Regional Expansion Strategy: Unlike many Omani banks, Sohar International has strategically expanded beyond national borders into Saudi Arabia, positioning itself as a bridge for cross-border business opportunities and supporting both Omani Vision 2040 and Saudi Vision 2030 initiatives.

Customer-Centric Philosophy: The bank's rebranding in 2018 centered on a promise to help customers "win" by delivering responsive banking solutions. This philosophy emphasizes simplicity, speed, and relevance to customers' lifestyles, moving beyond traditional banking to become a comprehensive service company.

Islamic Banking Integration: Through Sohar Islamic, the bank offers a complete parallel Islamic banking division, providing Sharia-compliant alternatives across all major banking products and services.

Free International Transfers: The bank offers no service fees for international transfers to certain countries, with instant crediting—a competitive advantage in the Omani market.

Question 7

What type of financial institution is Sohar International?

Accepted Answer

Sohar International is a Universal Bank operating in Oman. It provides a full spectrum of banking services including retail banking, commercial banking, corporate banking, investment banking, treasury services, and Islamic banking through its subsidiary Sohar Islamic.

As a universal bank, Sohar International serves multiple customer segments—from individual retail customers and SMEs to large corporations, government institutions, and wholesale banking clients. The bank holds a commercial banking license from the Central Bank of Oman and is structured as a Société Anonyme Omanaise General (SAOG), which is a joint-stock company listed on the Muscat Securities Market.

This universal banking model allows Sohar International to offer integrated financial solutions across lending, deposits, payments, investments, advisory services, and risk management, making it a comprehensive financial partner for diverse customer needs.

Sohar International

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About Sohar International in Oman

Sohar Intern­ational