Reflecting its strong advisory capabilities as joint lead managers, Sohar Islamic - Sohar International’s Islamic Window was recently awarded the coveted ‘Best advisory for Sharia-compliant investments’ title at the Alam Al-Iktisaad Islamic Banking and Finance Awards 2022. The award recognises the bank’s efforts in the successful closure of the issuance of Government of Oman Sovereign Sukuk worth RO 150 Mn – an initiative that reflects the trust and confidence Ministry of Finance placed upon Sohar Islamic as a financial partner.

The award ceremony took place at the Hotel Crowne Plaza, Qurum and welcomed His Highness Sayyid Fahr bin Fatik Al Said as the chief guest and was hosted by Shaikh Salim Bin Mustahail Al Mashani. Delivering the keynote address at the summit was His Excellency Tahir Al Amri, Executive President of the Central Bank of Oman while Mr. Malik Abdullah Al Mahrouqi, Advisor to the Executive President Office, Central Bank of Oman was the esteemed Guest of Honour at the event. The summit, which proved to be an excellent networking platform witnessed the attendance of a cross-section of industry leaders, market experts, and key government officials, as well as allowed for the felicitation of exceptional performance and achievements of Islamic banks and financial institutions that have set new benchmarks in the Islamic banking and finance industry.

Commenting on receiving the award, Mr. Abdul Wahid Al Murshidi, Chief Islamic Banking Officer said, “Sohar Islamic continues to deliver superior banking services showcasing the bank’s aspiration to contribute positively to Oman’s economy. As the financial partner, we are delighted to contribute to the successful closure of the issuance of Government of Oman Sovereign Sukuk. This deal was very important and reflects our strong commitment to and the confidence investors place in Sohar Islamic. This award goes beyond recognising Sohar Islamic’s strong capability to provide innovative, bespoke, and superior Sharia-compliant advisory services - it also serves as a testament to the bank’s dedication to contributing to the nation’s development goals. By providing a holistic offering, Sohar Islamic has also been able to bridge the gap between those providing investment opportunities in the market and Shariah-conscious investors.”

Recognised as a trusted Islamic finance partner in the Sultanate, Sohar Islamic has continued to demonstrate an unfaltering commitment to the development of Sharia-compliant banking in the country. Keeping pace with the evolving market scenario, Sohar Islamic will continue to conceptualise innovative propositions, expand its offerings, and advocate Sharia-compliant banking principles in an endeavour to drive socio-economic progress in the country. Considering it a fiduciary duty to provide its clients with the advice needed to make important financial decisions, invest sustainably, and generate long-term returns, Sohar Islamic will remain at the forefront of leveraging opportunities to positively contribute and add value to the lives of its customers.