Sohar International and barq Sign Agreement to Explore New Opportunities in Digital Financial Services

Muscat : Reinforcing its commitment to advancing financial innovation and strengthening cross-market connectivity, Sohar International has signed a cooperation agreement with barq, a Saudi financial technology services company, to explore new opportunities at the intersection of banking and digital financial services. The agreement was signed on the sidelines of Money20/20 in Riyadh, bringing together leading fintech companies, financial institutions and investors from across the region and beyond.

The agreement was signed on behalf by Khalid Al Guthami, Country Chief Executive Officer of Sohar International’s KSA Branch, and Saad Almuhana, Co-Founder and Deputy CEO of barq, in the presence of Ahmed Mohamed Alenazi, Founder and CEO of barq.

Commenting on the agreement, Abdulwahid Mohamed Al Murshidi, Chief Executive Officer of Sohar International, said, “The evolution of financial services across the region is increasingly being shaped by the convergence of banking, technology and customer-centric innovation. At Sohar International, we are focused on building a globally connected financial platform that enables greater access to opportunities across markets and supports the changing needs of our customers and partners. Our cooperation with barq reflects this approach, bringing together complementary capabilities to explore solutions that can contribute to a more connected and digitally enabled financial ecosystem across Oman, Saudi Arabia and the wider region.”

“We are keen to extend barq’s partnerships to financial institutions that share our ambition to improve the customer experience and harness the opportunities created by digital transformation,” said Ahmed Mohamed Alenazi. “Our cooperation with Sohar International gives us the opportunity to explore new areas and work on models that can create lasting value for both parties.”

The agreement establishes a framework for Sohar International and barq to leverage their complementary banking, technology and digital capabilities to explore innovative financial solutions and create greater value for customers. With Sohar International’s presence in Oman and Saudi Arabia, the collaboration provides a platform to explore cross-market opportunities that can contribute to a more connected and digitally enabled financial ecosystem, while supporting the continued evolution of financial services and taking into consideration applicable regulatory, operational and market requirements.

For Sohar International, the cooperation further strengthens its engagement with the region’s evolving financial ecosystem and supports its strategy of combining banking expertise, technology and strategic relationships to unlock new opportunities across markets. Building on its presence in Oman and Saudi Arabia, the Bank continues to advance its vision of becoming a globally connected financial institution, leveraging digital innovation and regional connectivity to deliver more relevant, accessible and future-ready financial solutions for its customers and stakeholders.

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