Sohar International Signs Agreement with Sohar University to Establish Oman’s First Bank-Endowed Chair

Muscat, 07 October 2026: Recognising the importance of sector-specific knowledge in strengthening Oman’s SME ecosystem and supporting the development of a more competitive and diversified economy, Sohar International has taken a pioneering step in advancing collaboration between the banking and higher education sector by signing a five-year sponsorship agreement with Sohar University to establish the Research Chair in SME Finance and Sector Intelligence. The initiative represents a significant milestone in connecting financial-sector expertise with academic research to generate practical insights into the challenges, opportunities and financing needs of small and medium enterprises (SMEs), with a particular focus on fisheries, agriculture and trade. To ensure accountability and measurable impact, the Research Chair will operate under a monitoring and evaluation framework overseen by a joint Steering Committee comprising three representatives each from Sohar International and Sohar University. The committee will meet at least twice annually to assess progress against agreed research, SME development, financial-sector engagement and policy objectives, guided by annual work plans and measurable outcomes.

The initiative reflects Sohar International’s commitment to supporting SME development beyond traditional financing by investing in the knowledge and capabilities required to enable sustainable enterprise growth. As Oman advances its economic diversification agenda under Oman Vision 2040, strengthening the SME sector requires a deeper understanding of the industries in which businesses operate, the challenges affecting their competitiveness and the opportunities available for expansion. Through this pioneering partnership, Sohar International and Sohar University aim to bridge the gap between financial-sector expertise, academic research and the practical realities of businesses, contributing to a more informed and responsive entrepreneurial ecosystem.

Commenting on the partnership, Abdul Qadir Al Sumali, Chief Retail and Wealth Management Officer at Sohar International, said: “The next phase of Oman’s economic growth will depend not only on expanding access to capital, but also on strengthening the capabilities and competitiveness of the businesses that drive our economy. SMEs have an important role in this transformation, yet unlocking their full potential requires a deeper understanding of the sectors in which they operate, the challenges they face and the opportunities available to them. At Sohar International, we believe our responsibility extends beyond providing finance to helping create the conditions in which businesses can grow and succeed. Through this partnership with Sohar University, we are investing in knowledge that can inform better decisions, strengthen enterprise resilience and contribute to a more diversified and competitive economy. This reflects our commitment to Oman Vision 2040, bringing together financial capabilities, institutional expertise and national priorities to create lasting economic value.”

Dr. Hamdan Al Fazari, Vice Chancellor of Sohar University, commented: “Universities have an important responsibility to ensure that research responds to the evolving needs of the economy and delivers value beyond academia. This Research Chair will create a dedicated platform for generating sector-specific knowledge, strengthening engagement with businesses and translating academic expertise into practical insights. Our partnership with Sohar International brings together research capabilities and financial-sector experience, enabling us to address real challenges facing SMEs while contributing to a stronger culture of applied research, innovation and evidence-based decision-making in Oman.”

The Research Chair will focus on developing a deeper understanding of the commercial and operational dynamics shaping SMEs across the identified sectors. Its research will examine business models, value chains, supply chain structures, market conditions, operational risks and revenue cycles, complementing conventional financial indicators with sector-specific intelligence. This approach aims to establish a stronger evidence base that can support more informed financing decisions, enhance risk assessment and contribute to sustainable business growth.

Importantly, the initiative is designed to translate research into practical value for the wider economy. Through sector studies, market intelligence, accessible research publications and practical toolkits, the Chair will seek to equip entrepreneurs with insights that can help them identify opportunities, address business challenges and strengthen their competitiveness. It will also support knowledge exchange and policy dialogue among researchers, financial institutions, policymakers and businesses, encouraging greater alignment between financial solutions and the evolving needs of SMEs.

The five-year collaboration further reinforces the importance of partnerships between financial institutions and academia in advancing national development priorities. By combining Sohar University’s research capabilities with Sohar International’s understanding of the financial and business landscape, the initiative seeks to establish a sustained platform for applied research, industry engagement and capacity development, while strengthening the contribution of higher education institutions to Oman’s economic progress.

Aligned with the objectives of Oman Vision 2040, particularly economic diversification, private sector development, competitiveness and the transition towards a knowledge-based economy, the partnership reflects a shared commitment to strengthening the foundations of sustainable enterprise growth. As SMEs continue to play a vital role in broadening economic participation, generating employment opportunities and creating in-country value, access to reliable sector intelligence can help enable more resilient businesses and a stronger entrepreneurial ecosystem.

Through this initiative, Sohar International continues to advance its role beyond traditional banking by connecting financial-sector expertise, academic knowledge and national development priorities. The partnership reinforces the Bank’s long-term ambition to support a more competitive, innovative and globally connected Omani economy, where businesses are better equipped to grow, expand and create sustainable value.

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