Sohar International CEO Named ‘CEO of the Year – Banking & Leadership’ at Le Fonti International Awards 2023

Muscat: In a remarkable testament to his unwavering commitment to excellence, Mr. Ahmed Al Musalmi, the Chief Executive Officer of Sohar International, has been honored with the prestigious ‘CEO of the Year – Banking & Leadership’ Award at Le Fonti International Awards 2023- Middle East. Notably, this marks his fourth ‘CEO of the Year’ accolade – with three national, and a regional recognition. Mr. Al Musalmi’s remarkable capabilities are rooted in his extensive leadership tenure and exceptional accomplishments within the financial and banking domain. His visionary guidance not only propels the bank’s growth but also champions the development of individuals, both within the institution and in surrounding communities. Under his leadership over the past five years, Sohar International has undergone a remarkable metamorphosis, emerging as the fastest-growing bank in Oman. This exceptional growth trajectory successfully propelled the institution to become the second-largest bank in the Sultanate.

In acknowledging Mr. Al Musalmi’s outstanding leadership, Mr. Mohamed Mahfoodh Al Ardhi, Chairman of Sohar International, highlighted his exceptional impact on Oman’s financial landscape, stating, “Venturing beyond the intricate landscapes of an ever-evolving market, Sohar International stands as a pioneer within the financial sector. At the helm of this transformative journey is Mr. Ahmed Al Musalmi, spearheading the bank towards unprecedented heights. His remarkable ability to imbue purpose and crystallize objectives within the organization has been instrumental in Sohar International’s extraordinary pursuit of excellence. Under his guidance, the bank has embarked on an exceptional trajectory, charting a course defined by innovation, resilience, and unwavering commitment to unparalleled achievement.”

Guided by Mr. Ahmed Al Musalmi’s astute leadership, Sohar International has undertaken a transformative journey, achieving significant milestones and notable successes. Notably, the milestone merger with HSBC Oman in 2023 stands out as a pivotal moment, signifying a substantial consolidation within Oman’s financial landscape. This strategic move propelled Sohar International to an unprecedented status, cementing its position as a preeminent financial entity in the nation. The fusion of Mr. Al Musalmi’s leadership with the bank’s strategic initiatives not only resulted in impressive financial gains but also fostered a vibrant corporate culture and a robust community-focused approach. This powerful synergy has propelled the institution to unparalleled heights, cultivating an environment conducive to both organizational advancement and societal progress.

Expressing his gratitude, Mr. Ahmed Al Musalmi stated, “These accolades inspire us to propel forward, spearheading transformative initiatives within the banking industry. I want to emphasize the invaluable contribution of the Board members and the entire team in achieving this milestone. The Board’s strategic vision, combined with the collective effort of our staff, has been instrumental in pioneering innovation, ensuring customer satisfaction, and setting new benchmarks within Oman’s banking sector and beyond. Their dedication forms the foundation of our success. Together, with a commitment to people-centricity, continuous innovation, and operational excellence, we continue to move forward.”

The red carpet event, held on 14^th December 2023 in Dubai, celebrates organizations that exhibit corporate excellence in various domains, including business innovation, leadership, technological achievement, and employee engagement. The awards are adjudicated by a distinguished panel of experts, consisting of the scientific committee of Le Fonti, in collaboration with a dedicated team of legal, economic, and financial journalists based in over 120 countries worldwide.

The Le Fonti International Awards, renowned for celebrating corporate excellence across various domains, honored Mr. Al Musalmi for his exceptional contributions to business innovation, leadership, and industry impact. Under Mr. Al Musalmi’s guidance, Sohar International has received 12 prestigious awards in 2023 at local, regional, and international levels, reinforcing its position as a premier Omani service company on the global stage. The bank’s commitment to fostering prosperity and growth for customers, communities, and individuals has set new standards in service excellence and community impact. This year, Mr. Ahmed Al Musalmi has been also honored with the prestigious ‘CEO of the Year’ title at the Alam Al Iktisaad Awards 2023 underscoring his visionary leadership that embraces robust growth — most recently exemplified by a seamless national-scale merger, continuous innovation, and premium levels of customer-centricity, but also highlights his exceptional ability to align Sohar International’s strategic endeavours with the national agenda.