Sohar Islamic supports fourth Zakat Conference as Main Sponsor, advancing sustainable Zakat practices and financial inclusion

Muscat, 06 October 2026: Reflecting its commitment to advancing Islamic finance as a catalyst for inclusive economic growth and sustainable social development, Sohar Islamic, the Islamic banking window of Sohar International, participated as the Main Sponsor of the fourth Zakat Conference and Exhibition, organised by the Ministry of Awqaf and Religious Affairs from 27 to 29 September 2026 in the Wilayat of Sohar, North Al Batinah Governorate. The sponsorship underscores Sohar Islamic’s broader role in supporting the development of an effective and sustainable Zakat ecosystem, strengthening institutional capabilities and promoting the contribution of Islamic financial principles to Oman’s long-term development priorities.

Held under the auspices of H.E. Nasser bin Khamis Al Jashmi, Chairman of the Tax Authority, and in the presence of H.E. Dr. Mohammed bin Said Al Maamari, Minister of Awqaf and Religious Affairs, the conference brought together more than 600 participants, including representatives from nine Gulf, Arab and international countries, alongside government officials, specialists, researchers and stakeholders in Zakat affairs. The event provided a platform for exchanging expertise, advancing institutional cooperation and exploring approaches to enhance the efficiency, governance and developmental impact of Zakat.

Commenting on Sohar Islamic’s participation, Fahad Al Zadjali, Chief Islamic Banking Officer at Sohar Islamic, said: “The true value of Islamic finance lies not only in providing financial solutions, but also in its ability to contribute to a more inclusive, resilient and sustainable economy. Zakat plays a fundamental role in this ambition, serving as a mechanism for strengthening social solidarity, supporting economic empowerment and directing resources towards meaningful development outcomes. As Oman advances its national priorities, there is an opportunity to further strengthen the institutional frameworks, governance and capabilities that enable Zakat to deliver a greater and more sustainable impact. At Sohar Islamic, we believe our responsibility extends beyond banking to supporting an ecosystem where Islamic financial principles translate into tangible economic and social value. Our partnership with the Ministry of Awqaf and Religious Affairs reflects this commitment and our ambition to contribute to a more effective, transparent and sustainable Zakat sector that supports community wellbeing and Oman Vision 2040.”

A central focus of the conference was the relationship between Zakat and sustainable development, highlighting the importance of coordinated institutional efforts in maximising its economic and social contribution. The main panel discussion, ‘Zakat and Sustainable Development: An Integrated Government Vision,’ examined opportunities to strengthen collaboration across sectors and establish a more integrated approach to addressing development priorities. The conference also marked the launch of the Zakat Institutions Readiness Index in the Sultanate of Oman, an initiative designed to assess institutional preparedness and operational effectiveness, with an emphasis on governance, institutional excellence and sustainable practices.

Further strengthening this agenda, Sohar Islamic and the Ministry of Awqaf and Religious Affairs signed a Memorandum of Understanding establishing a framework for cooperation and defining their respective roles in supporting the development of the Zakat sector. The agreement reflects a shared commitment to enhancing institutional collaboration and contributing to the sector’s long-term development. The conference also witnessed the signing of a cooperation document between the Ministry of Awqaf and Religious Affairs and the SMEs Development Authority, reinforcing the importance of partnerships in connecting social development objectives with broader economic opportunities.

Throughout the three-day programme, discussions addressed the Sharia, economic, financial, administrative and technological dimensions of Zakat, emphasising the need for sound governance, stronger institutional capabilities and effective practices to maximise its developmental potential. Together, these initiatives highlighted the evolving role of Zakat beyond its traditional charitable function, positioning it as an important contributor to social empowerment, economic participation and sustainable community development.

Through its sponsorship and institutional engagement, Sohar Islamic continues to strengthen its contribution to Oman’s Islamic finance ecosystem, supporting initiatives that connect responsible financial practices with national development priorities. As part of Sohar International’s broader commitment to creating value beyond banking, Sohar Islamic remains focused on fostering meaningful partnerships, advancing institutional development and supporting a more inclusive and resilient economy in alignment with Oman Vision 2040.

About Sohar International

Sohar International is guided by a clear vision to become a world-leading Omani service company that helps customers, communities, and people prosper and grow. With a purpose to help people ‘win’ by delivering responsive banking for their ever-changing world, the bank offers innovative solutions across Commercial and Investment Banking, Wealth Management, Islamic Banking, and more. Operating with a strong digital-first approach and an expanding regional footprint—including presence in the Kingdom of Saudi Arabia—Sohar International is committed to driving value through strategic partnerships and a dynamic customer experience. Learn more at www.SIB.om