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Oman Launches First Government-owned, Dedicated Corporate Investment Bank

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Staff Writer, TLR

Published on March 7, 2024, 12:26:22

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Oman, corporate investment bank, banking, government owned

Following licensing by the Central Bank of Oman and the Capital Market Authority, the Sultanate of Oman has launched the government-owned Oman Investment Bank SAOC as the country’s first dedicated corporate investment bank.

Headquartered at Dana House in Muscat’s Al Khuwair district, Oman Investment Bank was established to support the strategic goals and ambitions of the Sultanate of Oman and wholesale corporate and investor clients regionally and across Oman Investment Bank’s target markets.

The bank will provide a spectrum of financial services, spanning from corporate finance advisory to the enhancement of domestic and regional securities markets.

In the lead-up to the bank’s launch, His Excellency Abdulsalam bin Mohammed Al Murshidi, Chairman of Oman Investment Bank, said that the bank is now poised to play a vital role in supporting the Omani Government’s implementation of the Oman Vision 2040 strategy, which prioritises the development of a more agile, diversified, sustainable, and competitive economy.

He added that with the launch of the bank, the Sultanate now possesses most of the tools required to encourage investment in projects being developed in Oman.

The launch of Oman Investment Bank follows the establishment of Oman Future Fund, which was launched earlier this year.
With a vision to grow over the coming years, the bank’s focus will include the provision of a full suite of strategic advisory and capital markets products to listed and unlisted corporates in Oman, in the broader GCC region, and internationally.

Key business sectors will include Energy & Power, Industrials & Minerals, Consumer & Agriculture, Financial & Asset Management, and Real Estate, Infrastructure & Technology/Media/Telecommunications and any other strategic sectors targeted by the Sultanate.

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