Sohar Islamic Signs MoU with the Ministry of Endowments & Religious Affairs

10-03-2019 Back to Newsroom

In yet another opportunity to provide its services for the betterment of society and in line with the national agenda, Sohar Islamic, the Islamic Banking window of Sohar International, has entered into a Memorandum of Understanding (MoU) with the Ministry of Endowments and Religious Affairs. Following the agreement, Sohar Islamic, the financial and strategic partner will provide innovate smart and easy solutions to the ministry in its various endowment sectors.

The MoU was signed recently at the ministry by His Excellency Sheikh Abdullah Mohammed Al Salmi, Minister of Endowments and Religious Affairs, and Mr Ahmed Al Musalmi, Chief Executive Officer of Sohar International, in the presence of senior officers from both sides.

Explaining the significance of the bank’s strategic tie-up with the Ministry of Endowments and Religious Affairs, Mr Ahmed Al Musalmi, Chief Executive Officer of Sohar International, stated: "At Sohar Islamic, we always aim to reach out to a broader client base; offering our innovative and flexible Sharia-compliant financial solutions to customers across the country. We are proud to have signed this agreement; which reflects the strong relationship shared by Sohar Islamic and government entities. Under this agreement, the Ministry will utilize our banking products and services to facilitate day-to-day banking processes, including endowment funds. This agreement is another step for the bank towards winning the trust of investors, particularly those seeking to diversify their investment areas; and also helps us in accomplishing our goal of establishing a stronger base for the national economy.”

The Ministry of Endowments and Religious Affairs takes every effort and opportunity to provide the best services with optimal investment to meet public expectation.

It’s noteworthy that Sohar Islamic has recently relocated its offices from MBD area to Ghala in line with Sohar International’s renewed customer-centric vision which aims at serving customers in an efficient and timely manner. Sohar Islamic’s banking solutions cover a wide array of retail and corporate financing products and services; including SME Banking, personal finance, auto finance, term deposits, savings accounts, current accounts and construction and housing finance.

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