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August 2025

No. 298 August, 2025

EDITOR’S DESK

Digital shift Technological advancements are propelling digitalisation in Oman’s financial sector, enhancing data reliance and offering innovative solutions, though challenges persist.

Oman’s banks are leveraging NextGen technologies such as Artificial Intelligence (AI), Machine Learning (ML), blockchain, and data analytics to automate processes, make data-driven decisions, and boost operational efficiency.

EDITORIAL Editor-in-chief Said Masoud Almashani Executive Vice President and Group Editor Mayank Singh Editor Oommen John P DESIGN Director Production – Print & Digital Ramesh Govindaraj Chief Photographer Rajesh Rajan Cover concept Rakesh Radhakrishnan

MARKETING Associate Advertising Director Shivkumar Gaitonde Business Manager Dhanish Pillai CORPORATE

The Central Bank of Oman (CBO) has introduced a Regulatory Framework for Licensing Digital Banks, effective June 1, 2025, requiring these banks to maintain a physical presence in Oman for effective communication and supervision. The CBO is also spearheading initiatives to revamp the financial landscape, promoting economic diversification through sector-specific lending and enhanced capital buffers. This could enable banks to finance over $25bn in non-oil sectors, driving GDP growth and job creation by 2030. Recent advancements include the launch of a digital direct debit service, which streamlines payment processes and reduces reliance on cheques. Banks are leading in digital offerings, providing comprehensive online banking services and innovative payment solutions.

As banks increasingly adopt digital platforms, they enhance customer experiences and operational efficiencies, reflecting a significant shift towards a more digital and inclusive financial ecosystem in Oman. This transformation will expand access to underserved and remote areas of Oman, integrating people with limited banking access into the formal financial system. Banks are also exploring partnerships with fintech companies to innovate financial solutions, leading to new digital products and services.

OommenJohn

Oommen John

Chief Executive Officer Atulya Sharma

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DISTINCT STYLES Your cover story made for an enlightening read. Business leaders exhibit distinct styles, with strategic leaders focusing on long-term goals and resource alignment, while transformational leaders inspire and motivate their teams through a compelling vision. Effective leaders blend business acumen with social responsibility, understanding that success includes ethical practices and community engagement. Adaptability is the key, as successful leaders adjust their styles according to the situation and team dynamics. This flexibility is crucial in today’s rapidly changing business environment. The list of the 50 Most Influential People in Business in Oman is an eye-opener and shows how individuals who have built significant enterprises and contributed to Oman’s economy through job creation and community development.

Mark Rogers, MQ

ECONOMIC INTEGRATION The Gulf is changing. With every step the GCC takes toward greater economic integration, the region becomes more connected, more competitive, and more open to new opportunities.

For Oman, this is not just a policy shift—it is a chance to redefine its place in the regional economy and create fresh possibilities for businesses, investors, and entrepreneurs. At the heart of Oman’s opportunity is location. Sitting on one of the world’s busiest trade routes, Oman is naturally positioned as a bridge between the Gulf, Asia, and Africa. Add to that its modern ports in Sohar, Duqm, and Salalah, and the country has all the ingredients to become a logistics hub for the integrated GCC market. Imagine a small manufacturer in Muscat being able to reach customers in Riyadh or Dubai with fewer trade barriers, faster customs clearances, and smoother regulations. That is the real promise of integration—making it easier for Omani businesses to scale up and compete regionally. Foreign investors are also watching closely. For them, integration means stability, efficiency, and access to a much larger consumer base. If the GCC continues to move toward unified tariffs and shared digital platforms, setting up in Oman will not just mean access to a domestic market of five million people—it will mean tapping into the entire Gulf. This plays directly into Oman’s Vision 2040, which is all about diversifying the economy and drawing more international investment into sectors like renewable energy, tourism, advanced manufacturing, and technology. But the story is not just about big investors and large-scale projects. Integration also has a very human dimension—it opens doors for Omani entrepreneurs and SMEs. A young tech startup in Muscat could find it easier to expand across the GCC, or a local agribusiness could build cross-border partnerships that were harder to establish before. For a generation of young Omanis looking to innovate and grow, this wider regional playground could be transformative. Of course, opportunities come with challenges.

Greater integration means Oman will need to keep pace with its neighbours in terms of regulation, competitiveness, and innovation. But if managed well, the benefits far outweigh the risks. The future is not about Oman standing alone—it is about Oman playing a central role in a more connected Gulf, and using that position to bridge the region with global markets.

Sadaf Al-Zadjali, Muscat

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August 2025

INSIDE

22 COVER STORY

DIGITAL DRIVE

10

Banks in Oman are embracing tech to stay competitive

INTERVIEW

MAKING A SEMINAL CONTRIBUTION Mohammed Mahfoodh Alardhi, Chairman of the Board, College of Banking and Financial Studies reiterates the institution’s focus on nurturing a knowledge-driven economy by empowering youth with the skills and mindset to become future entrepreneurs and innovators

14 BANKING

AHLIBANK 2025: PURPOSE-DRIVEN GROWTH

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As a true Partner in Excellence, ahlibank continues to set new benchmarks in financial performance, digital advancement, inclusive progress, and meaningful social impact

ECONOMY

COMPETITIVE EDGE Preparations launched for the second edition of the Suhar Investment Forum under the theme “Suhar: Industrial Investment Destination”

Editorial ........................ 1

Business Briefs ............. 4

ECONOMY

TECHNOLOGY

LIFESTYLE

LEADERSPEAK

LISTINGS

VIDEO

In The News.................. 9

Industry....................... 41

OpenAI strengthens ChatGPT’s mental health safeguards ahead of GPT-5 launch

Aviation....................... 55

As OpenAI prepares to unveil its next-generation AI model, GPT-5, the company has announced significant improvements to ChatGPT aimed at enhancing its ability to recognise and respond to users exhibiting signs of emotional or psychological distress.

Appliances................... 56

Gold declines as US dollar gains momentum, markets await Fed appointments

Billboard...................... 57

Gold prices edged lower due to a slightly firmer American dollar, amid anticipation of decisions by the Federal Reserve (central bank).

Automotive.................. 58

Safeguarding Oman’s identity in digital platforms

Auto Review................ 60

Social media platforms have evolved to play a pivotal role beyond mere entertainment and personal communication, becoming influential tools for self-expression, idea exchange, shaping collective consciousness, articulating cultural values, and defining national identity in the digital sphere

BUSINESS BRIEFS ahlibank’s Rights Issue oversubscribed amid strong shareholder demand In a clear demonstration of market confidence and strategic momentum, ahlibank has successfully concluded its rights issue, which was oversubscribed. The offering comprised of around 357 million shares at a price of 142 Baiza per share (including 2 baisa issue expense per share), attracting robust participation from shareholders and strong interest across the investment community. This outcome reflects the strength of ahlibank’s positioning and amplifies its readiness to capitalize on emerging opportunities with greater agility and scale.

This landmark completion of ahlibank’s rights issue marks a critical milestone, reinforcing the bank’s capital position and affirming strong shareholder confidence in its longterm growth agenda. This outcome reflects a clear endorsement of ahlibank’s disciplined strategy to accelerate transformation, enhance operational agility, and strengthen its position in an increasingly competitive banking landscape.

More than a financial transaction, this initiative deepens alignment between shareholders and the bank’s strategic vision – ensuring ahlibank remains well-positioned to deliver sustainable

value, drive performance-led growth, and navigate future opportunities with resilience and precision.The rights issue forms part of a broader capital optimisation initiative designed to enhance the bank’s financial flexibility and underpin its next stage of evolution. The funds raised will be directed toward executing core strategic initiatives while also enabling greater lending capacity to fuel business activity.

These efforts will contribute to bolstering capital adequacy ratios, strengthening market resilience, and supporting the bank’s objective of delivering superior value across its stakeholder

ecosystem. This successful issuance not only reinforces confidence in ahlibank’s governance and institutional strength but also highlights the bank’s progressive strategy. As the operating environment continues to evolve, ahlibank remains steadfast in its commitment to sustainable growth, disciplined execution, and market leadership. With an enhanced capital structure and a future-oriented approach, the bank is well-equipped to accelerate its performance trajectory and seize value-accretive opportunities across the Sultanate of Oman.

Bank Muscat posts net profit of RO125.82mn for the six months ended June 30, 2025 Bank Muscat, the flagship financial institution in the Sultanate of Oman, announced its preliminary unaudited results for the six months ended June 30, 2025. The Bank posted a net profit of RO125.82mn for the period compared to RO112.12mn reported during the same period in 2024, an increase of 12.2 per cent. The key highlights of the results for the period are as follows: Net Interest Income from Conventional Banking and Net Income from Islamic Financing stood at RO206.44mn for the six months period ended June 30, 2025 compared to RO190.63mn for the same period in 2024, an increase of 8.3 per cent; Non-interest income was RO81.83mn for the six months period ended June 30, 2025 as compared to RO75.27mn for the same period in 2024, an increase of 8.7 per cent mainly due to growth in business volumes and higher investment income; Operating expenses for the six months period ended June 30, 2025 was RO108.08mn as compared to RO102.13mn 4

August 2025

for the same period in 2024, an increase of 5.8 per cent; Net impairment losses on financial assets for the six months period ended June 30, 2025 was RO30.16mnn as against RO29.96mn for the same period in 2024; Net Loans and advances including Islamic financing receivables increased by 5.1 per cent to RO10,727mn as against RO10,208mn

as at June 30, 2024; Customer deposits including Islamic Customer deposits increased by 3.3 per cent to RO9,879mnon as against RO9,563mn. The full results for the six months period ended June 30, 2025 along with the complete set of unaudited financial statements will be released following the approval of the Board of Directors of the Bank at its meeting.

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BUSINESS BRIEFS NBO empowers businesses in Oman with seamless merchant payment solutions The National Bank of Oman (NBO) continues to support business owners through an integrated suite of merchant payment services designed to simplify payment acceptance, processing, and enhance customer convenience. The Bank offers a full spectrum of merchant payment solutions, including Point of Sale (POS) terminals, an E-Commerce Payment Gateway and Merchant QR Codes. These services cater to a wide range of businesses, applicable to all registered and licensed entities such as home and microbusinesses, retail stores, corporate entities, small and medium-sized entities (SMEs) and government entities Commenting on this, Dr Ali Al Shekaili, Assistant General Manager – Head of Digital and E-Channels at NBO, said, “As Oman’s economy becomes increasingly digital, we believe it is essential to equip every business with the means to thrive. Our merchant payment solutions reflect this belief by helping businesses accept

payments securely while staying competitive, connected and ready for what comes next.”

The POS terminals support local and international card schemes including Visa, MasterCard, American Express, UnionPay, Discover and Diners Club. The features include POS system integration with electronic cash registers, kiosks, and vending machines. In addition, it supports converting transactions to Easy Payment Plans, paying in local currency with Dynamic Currency Conversion, paying using rewards points and real-time data synchronisation as sales data from the POS is automatically reflected in the enterprise resource planning (ERP) system, ensuring accurate inventory levels, financial records and reporting. The E-Commerce Payment Gateway supports 3D secure online payments and offers a secure and seamless checkout experience.

The solution offers link payments, recurring payments, and batch payments options, as

well as smart routing of transactions through a single application programming interface. E– commerce payment gateways are compatible with ERP systems, websites and mobile apps.

Bank Nizwa introduces competitive Sharia-Compliant financing solutions for Q3 Reaffirming its commitment to delivering banking services that fulfill customer aspirations, Bank Nizwa – the leading and most-trusted Islamic bank in the Sultanate of Oman – has announced the launch of competitive, Sharia-compliant financing solutions for the third quarter of the year. The offering includes a diverse range of financing products, including auto finance, personal finance, and home finance, reflecting the bank’s steadfast approach to providing financial solutions that empower customers to achieve their financial goals. Commenting on the launch, Mohamed Al Ghassani, Chief Retail Banking Officer at Bank Nizwa, said, “At Bank Nizwa, we are dedicated to providing Shariacompliant financing solutions at competitive profit rates that cater to the diverse financial needs of our customers. Through regular reviews of our profit rates, the bank not only stays aligned with evolving market dynamics but also strengthens its steadfast commitment to delivering purposeful, value-driven financial solutions that enable customers to realize their financial aspirations.” He added: “At the same time, we continue to enhance the value of our 6

August 2025

offerings for entrepreneurs through Shariacompliant commercial financing solutions. We provide competitive profit rates for trade finance, auto finance, and real estate financing, supporting businesses and their growth ambitions.”

As part of its commitment to providing financing solutions tailored to diverse needs, Bank Nizwa offers competitive profit rates starting from 3.49 per cent across its retail financing portfolio, which includes auto finance, home finance, and personal finance. For auto finance, customers can benefit from a preferential rate to finance both new and used cars meanwhile it provides greater flexibility in their financial planning. For home finance, the bank provides comprehensive solutions covering ready property purchases, land acquisition, construction, and buyouts – delivered through a progressive financing structure with adaptable repayment terms.

Meanwhile, the bank’s personal finance solutions are designed to address everyday financial needs and provide essential liquidity through flexible repayment options and features aligned with customers’ financial aspirations. On

the commercial front, Bank Nizwa continues to reinforce its support for the business sector by providing Sharia-compliant financing solutions at competitive rates through Commercial Finance for individuals which include commercial autos and real estate. This underscores the bank’s ongoing commitment to empowering entrepreneurs and fostering sustainable economic growth throughout the nation.

Sohar International sponsors Tamkeen and Summo Exhibition 2025 Reaffirming its longstanding commitment to advancing Oman’s entrepreneurial landscape and driving inclusive economic growth, Sohar International has assumed the role of Official and Exclusive Banking Sector Sponsor of the “Tamkeen and Sumou” (Empowerment and Elevation) Exhibition for Small and Medium Enterprises. Organised by the Oman Chamber of Commerce and Industry (OCCI), represented by the SME Committee, the exhibition is being held under the patronage of HH Sayyid Harib bin Thuwaini Al Said, Assistant Secretary General of the Council of Ministers for Conferences, and runs from August 5 to 20, 2025 in Dhofar Governorate. The event brings together more than 75 Omani SMEs from nine key economic sectors, including light manufacturing, technology and innovation, Omani handicrafts, tourism, and agriproducts such as honey and dates. It serves as a vital national platform for promoting local products, enhancing SME competitiveness, and facilitating direct engagement with private sector stakeholders—all in alignment

with Oman Vision 2040 and the bank’s strategy to empower the private sector as a catalyst for sustainable development.

Commenting on the bank’s participation, Abdulwahid Mohamed Al Murshidi, CEO, Sohar International, stated, “SMEs represent a vital force within any dynamic economy.

Their capacity to innovate, stimulate domestic value chains, and respond swiftly to market needs contributes meaningfully to economic resilience. Our engagement in this exhibition is a reflection of our long-term dedication to empowering this segment; beyond offering impactful financial solutions, we prioritise

opportunities that enhance visibility, strengthen capabilities, and support sustainable growth.

Platforms such as these are integral to cultivating robust, future-ready enterprises that will ultimately steer Oman towards a more diversified and competitive economy.” As part of its active engagement, Sohar International has launched the ‘Sohar International Competition for SMEs,’ aimed at elevating exhibition standards, encouraging innovation, and recognizing excellence. The competition features six categories—Best Booth Design, Best Brand Identity, Best Visitor Engagement, Most Innovative Idea, Best Internal Organization and Layout, and the Audience Choice Award.

AFS and Oman Arab Bank unveil pioneering digital payments platform Arab Financial Services (AFS), the Middle East and Africa’s premier digital payment solutions provider and fintech enabler, has announced a significant expansion of its enduring strategic partnership with Oman Arab Bank (OAB). This expansion reaffirms a shared commitment to pioneering innovation, setting an elevated benchmark for digital banking experiences across Oman. Extending AFS’s proven legacy in processing, this revitalized alliance now advances the collaboration into a new era with the seamless integration of advanced tokenization for global digital wallets.

Leveraging AFS’s deep expertise, OAB has already proactively deployed tokenization across leading platforms like Apple Pay, Samsung Pay, and Google Pay, cementing its position at the vanguard of Oman’s rapidly evolving digital payments landscape.

Central to this deepened partnership is OAB’s strategic foresight in becoming one of the inaugural banks to migrate to AFS’s

transformative new digital payments platform.

This next-generation solution is meticulously engineered not only for today’s dynamic payments landscape but also to future-proof operations, offering unparalleled speed, scalability, and configurability. Samer Soliman, CEO, AFS, commented: “The strength of our decades-long partnership with Oman Arab Bank is vividly reflected in this agreement, as is our shared dedication to leading the charge in digital banking innovation. This renewal marks our collective intent to cultivate a new landscape of secure, agile, and supremely customer-centric

financial services for the Omani market.”

Adding to this, Sulaiman Al Harthi, CEO, Oman Arab Bank, stated, “We are committed to embracing innovation that enhances our customer experience and future-proofs our services. We are proud to be among the first banks to launch on AFS’s new digital platform – a move that aligns perfectly with our digital transformation agenda and positions us to lead the market in seamless, secure payment solutions.”

BUSINESS BRIEFS EXECUTIVE MOVEMENT

Najla Al Jamali appointed President bp Oman bp has announced that Najla Zuhair Al Jamali has been appointed as President bp Oman.

She joins bp from OQ where she served as Chief Executive, OQ Alternative Energy.

Al Jamali started her global career as a reservoir engineer in Oman and brings over two decades of energy sector experience to bp. Her career spans upstream, downstream and commercial roles across companies including Shell, Schlumberger and Takamul Investment Company (as subsidiary of what was Oman Oil Company). Al Jamali will be the first woman to serve in the role.

Nader Zaki, bp’s regional president Middle East and North Africa said, “I am very pleased to welcome Najla to our team as President of bp Oman. Her wealth of experience will greatly benefit us as we continue to support the growth of the energy sector in Oman. This is a historic milestone for bp as Najla is the first female Omani country manager for bp in the country. I would also like to thank

Yousuf Al Ojaili for his leadership and congratulate him on his retirement after a decade of excellence with our company and 39 years in the energy sector.”

Najla Zuhair Al Jamali said, “I’m excited to join bp Oman working with the team to continue supply one third of Oman’s gas

and working with the Omani government and partners to explore potential for growing our operations in country.” Najla Zuhair Al Jamali will join bp in September where she will assume full roles and responsibilities after a transition period with Yousuf Al Ojaili who retires at the end of 2025.

Saoud Al Riyami appointed CEO of Ooredoo track record of working in diverse sectors.

Ooredoo has announced the appointment of Saoud Al Riyami as the new Chief Executive Officer (CEO). Saoud brings a wealth of experience in business strategy,

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August 2025

leadership and transformation. With more than 20 years of experience in the commercial area including sales, marketing, and business development, Saoud has a

Throughout his career, he has played a pivotal role in expanding the B2B and wholesale operations at Ooredoo, driving ICT innovation, and fostering strong strategic partnerships.

His deep understanding of the business and his proven leadership will continue to have a significant impact on Ooredoo’s growth and transformation journey, as well as further strengthening market position, driving innovation, and delivering exceptional value to customers and stakeholders. Saoud is the first Omani to be appointed as CEO of Ooredoo Oman; a milestone that reflects the company’s commitment to empowering local talent and leadership. Ooredoo Oman’s Board of Directors, Executive Management and employees take this opportunity to officially welcome Saoud in what is set to be an exciting new chapter for the company.

IN THE NEWS

TECHNOLOGY-DRIVEN

Sohar International and Sohar Islamic introduce new domain to unify digital identity

Sohar International and its Islamic window, Sohar Islamic, have taken a major step in strengthening their digital presence with the official launch of their newly redesigned corporate websites. In line with the bank’s commitment to global best practices, the new domains — (www.sib.om) and (www. soharislamic.om) — now replace the former addresses, (www.soharinternational.com) and (www.soharislamic.com). As part of this transition, the bank’s email domains have also been updated to (@sib.om), creating a unified and consistent digital identity across all channels. This transformation reflects Sohar International’s digital-first strategy, offering customers easier access through concise, memorable domains while reinforcing the bank’s ongoing commitment to innovation and delivering an enhanced online experience.

Reflecting on this major milestone,

Abdulwahid Mohamed Al Murshidi, CEO, Sohar International stated, “The launch of our new corporate websites represents a strategic step forward in our journey towards a more agile, accessible, and technology-driven experience. This initiative extends beyond a refreshed online presence—it redefines how we engage, serve, and create value in an increasingly digital economy. By integrating advanced technologies with a customercentric approach, we are enhancing efficiency, strengthening trust, and future-proofing our operations. In today’s digital age, this transformation ensures a more accessible and user-friendly online experience. This update reflects our commitment to continuous improvement, innovation, and enhancing engagement with our stakeholders.”

The redesigned websites offer a modern, user-friendly interface with seamless

navigation and intuitive functionality.

Catering to both long-time clients and new visitors, they enhance performance, security, and responsiveness across all devices. With a focus on simplicity and clarity, the platforms provide streamlined service channels, interactive features, and consistent experience, reinforcing the bank’s commitment to superior digital engagement.

Sohar International and Sohar Islamic are setting the stage for a robust digital future where technology and human-centered design come together to enhance user experience. With these revamped websites, the bank reaffirms its commitment to excellence and seamless service while fostering continuous innovation that improves accessibility, adapts to evolving needs, and sets new digital experience standards.

INTERVIEW

MAKING A SEMINAL CONTRIBUTION Mohammed Mahfoodh Alardhi, Chairman of the Board, College of Banking and Financial Studies reiterates the institution’s focus on nurturing a knowledge-driven economy by empowering youth with the skills and mindset to become future entrepreneurs and innovators. Mayank Singh reports The College of Banking & Financial Studies (CBFS) was established in 1983. How would you describe its evolution and key contributions to Oman’s financial sector over the decades?

Since its establishment in 1983, the College of Banking and Financial Studies (CBFS) has evolved into a pillar of excellence in financial education and training in Oman. Originally founded as a training institute, the College has steadily expanded its mandate to become a leading higher education institution, playing a pivotal role in advancing the capabilities of professionals in the banking and financial sector.

Over the years, CBFS has contributed significantly to the development of a highly skilled workforce, essential for sustaining the growth and stability of Oman’s financial ecosystem. By offering cutting-edge academic programs and industry-relevant training, the College has positioned itself as a vital link between academia and industry, ensuring that its graduates are well prepared to meet the rapidly changing demands of the financial sector.

How has CBFS adapted its curriculum to meet the evolving needs of the Omani banking industry in recent years?

The financial sector is a dynamic force, constantly shaped by global developments and technological 10

August 2025

advancements. As a forward-looking institution, CBFS has embraced this transformation by continuously updating its curriculum to reflect emerging industry trends and requirements.

and finance. The College collaborates with financial institutions to provide students with internships, on-the-job training, and mentorship opportunities, facilitating seamless entry into the workforce.

Recent years have seen the integration of specialised topics such as digital banking, financial technology (Fintech), sustainable finance, data analytics, and ethics in artificial intelligence (AI). In response to the growing importance of data-driven decisionmaking, the College has also introduced programs in Business Analytics and Artificial Intelligence. These curricular advancements ensure that our students acquire not only theoretical knowledge but also the practical, technical, and analytical skills necessary to thrive in the digital economy.

Moreover, CBFS frequently hosts leading industry practitioners to share insights on the latest trends, helping students adopt a forward-looking mindset and preparing them for leadership roles in the sector.

Omanisation is a national priority.

How does CBFS support the development of Omani talent for careers in banking and finance?

CBFS is fully aligned with Oman’s Vision 2040, which aspires to see Omanis occupy no less than 90% of jobs in the private sector. We recognise that the success of this strategic objective hinges on the availability of wellprepared, highly skilled local talent.

To this end, CBFS has designed and implemented targeted academic and training programs that equip young Omanis with the expertise required for successful careers in banking

What role do professional certifications and continuous development play at CBFS in enhancing workforce capabilities?

In today’s fast-changing financial environment, professional certifications and lifelong learning are critical to maintaining a competitive edge. CBFS places great emphasis on continuous professional development as an essential complement to academic qualifications.

We offer advanced training in areas such as risk management, regulatory compliance, digital ecosystems, and financial analysis. These programs enable professionals to deepen their expertise and advance into leadership positions. Furthermore, the College supports the local chapters of esteemed global bodies such as the Institute of Internal Auditors (IIA), Association of Certified Fraud Examiners (ACFE), and the Chartered Financial Analyst (CFA) Institute. These affiliations allow

INTERVIEW

us to offer world-class certifications and ensure our graduates meet international standards.

CBFS’s Centre of Excellence in Fintech is the first of its kind in the Sultanate and serves as a hub for Fintech education, innovation, and collaboration. The Centre offers dual pathways—technical and leadership— designed to develop both specialised skills and strategic thinking.

CBFS also conducts programs that raise awareness on environmental responsibility, directly contributing to the Environmental Performance Index targets laid out in the Vision. Through these broader contributions, we help position Oman competitively on the global stage.

Our strategy is holistic: we offer dedicated Fintech programs, organise innovation-focused events such as hackathons, and partner with startups and established institutions to foster practical, real-world application of ideas. By providing students access to cutting-edge tools and collaborative platforms, we enable them to develop Fintech solutions that address challenges and support the growth of Oman’s digital financial ecosystem.

What is your vision for CBFS’s future role in light of global and regional economic developments?

Looking ahead, CBFS will continue to be a catalyst for sustainable development in Oman. In a rapidly evolving global economy driven by digitalisation, green energy, and regional integration, we are committed to preparing a future-ready workforce capable of navigating these transformations.

Beyond curriculum development, we are equally committed to fostering research excellence. CBFS encourages collaborative research between students and faculty, offering both internal and external funding opportunities to explore the impact of technological advancements on the financial industry.

How does CBFS contribute to Oman’s broader economic diversification and Vision 2040 beyond the banking sector?

As a national institution, CBFS plays a vital role in supporting Oman’s economic diversification strategy as articulated in Vision 2040. Our impact extends beyond the financial sector through initiatives aimed at promoting entrepreneurship, innovation, and sustainability.

Our vision includes deepening regional cooperation within the GCC, strengthening ties with global academic and industry leaders, and expanding programs in areas such as sustainable finance, digital transformation, and ethical leadership. By remaining agile and forward-looking, CBFS will contribute to building a resilient, diversified, and competitive economy in Oman, fully aligned with national aspirations and global best practices.

Fintech is reshaping the financial landscape. What is CBFS’s approach to nurturing Fintech talent and innovation?

We focus on nurturing a knowledgedriven economy by empowering youth with the skills and mindset to become future entrepreneurs and innovators.

How is CBFS integrating emerging technologies like AI, blockchain, and cloud computing into its academic and research agenda?

Technological innovation is a cornerstone of our strategic focus.

CBFS actively integrates emerging technologies into its academic framework to ensure our students are prepared for the digital future.

Through the Centre of Excellence in Fintech, we provide specialised training in blockchain, AI, data analytics, cloud computing, and cybersecurity. The College also offers undergraduate majors in Artificial Intelligence and Business Data Analytics to empower students with practical expertise in these transformative technologies.

Looking ahead, CBFS will continue to be a catalyst for sustainable development in Oman. In a rapidly evolving global economy driven by digitalisation, green energy, and regional integration, we are committed to preparing a future-ready workforce capable of navigating these transformations

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August 2025

BANKING

AHLIBANK 2025:

PURPOSE-DRIVEN GROWTH As a true Partner in Excellence, ahlibank continues to set new benchmarks in financial performance, digital advancement, inclusive progress, and meaningful social impact Said Abdullah Al Hatmi CEO, ahlibank

I

n a year defined by innovation, resilience, and purposeful growth, ahlibank has reaffirmed its position as a leading force in shaping the future of banking in Oman.

The first half of 2025 showcases the success of its holistic strategy—deeply anchored in people-centric values and aligned with the nation’s development goals. As a true Partner in Excellence, 14

August 2025

ahlibank continues to set new benchmarks in financial performance, digital advancement, inclusive progress, and meaningful social impact.

Financial Resilience & Results This strategic focus translated into robust financial performance in the first half of 2025, with ahlibank achieving disciplined growth across all

key indicators. Net financing rose to OMR 3,161.7 million, a 12.7% year-on-year increase, driven by a balanced approach to credit deployment across retail and corporate segments underpinned by prudent underwriting. This momentum was echoed in total assets, which climbed 13.6% to OMR 3,911.5 million— reflecting sound portfolio management and selective exposure to high-potential

H1 2025

Financial Excellence

RO

OMR

Total assets grew by 13.6% to RO3,911.5 million

Net profit rose by 10.7% reaching RO22.36 million

Customer deposits increased by 15.6% to RO3,020.4 million

sectors. Customer deposits grew by 15.6% to OMR 3,020.4 million, underscoring stakeholder trust and the bank’s solid market position. Operating income reached OMR 57.26 million, outpacing rising expenses stemming from continued investments in digital innovation, human capital, and branch expansion, which stood at OMR 24.60 million. Net profit closed at OMR 22.36 million, up 10.7%, reinforcing ahlibank’s ability to translate strategic clarity into sustainable and consistent earnings.

The successful completion of ahlibank’s oversubscribed rights issue, which offered around 357 million shares at 140 Baiza per share, further bolstered its strong trajectory. As part of a broader capital optimization initiative, the issuance strengthened the bank’s

RO

OMR

Operating income witnessed a 13.1% growth to RO57.26 million

Net financing saw a year-on-year increase of 12.7% to RO3,161.7 million

OMR

capital base, enhanced financial flexibility, and expanded lending capacity to fuel business activity, thereby underscoring shareholder confidence and supporting the bank’s next stage of evolution.

At the heart of this performance lies ahlibank’s unwavering commitment to purposeful innovation, particularly in the digital landscape - where it is redefining banking experiences to meet the evolving expectations of consumers and businesses alike. By embedding innovation across its retail, SME, and corporate segments, the bank continues to enhance accessibility, agility, and operational scalability, positioning itself for long-term success in a progressively digital-driven economy.

Operating expenses increased 14.6% to RO24.60 million

Delivering a Unified Digital Experience At the retail level, ahlibank has taken a pioneering step with the launch of ahlinext, Oman’s first child-focused digital banking platform. More than just an account, ahlinext is designed as an educational tool that fosters financial literacy from an early age.

Blending interactive learning with purposeful functionality, the platform uses intuitive goal-based features to help children develop responsible money management skills, while allowing parents to guide and monitor their progress. By empowering families to instill sound financial habits in the next generation, ahlinext reflects ahlibank’s forward-looking approach to building a financially aware society.

BANKING

Digital Banking OMR

ahlinext

Instant credit card issuance

ahliExpress kiosks

Oman’s first child-focused digital banking platform

Activated in minutes at branches

24/7 Banking services, bridging physical/digital

RO

ahliNET

Mobile POS and credit-linked financing for SMEs

Upgrades Automated recurring payments, B2B custom portal for corporates

User-friendly design and security

ahli islamic branches - demonstrates the bank’s integration of smart, digitalfirst solutions into physical service touchpoints. By allowing customers to receive fully activated cards within minutes, the feature streamlines onboarding, enhances user experience, and exemplifies the bank’s ongoing commitment to delivering speed,

security, and convenience through innovation.

Equally transformative is the bank’s revamped mobile banking app, which was upgraded recently and continues to evolve with advanced, customer-centric functionalities. The app includes a Financial Manager tool to help customers track expenses and plan budgets, digital wealth services for simplified investment management, and features that allow users to open an account within minutes or renew their KYC details seamlessly. With its secure, intuitive, and highly personalized interface, the app has become a cornerstone of ahlibank’s retail digital strategy. As part of its ongoing expansion, ahlibank has launched an exclusive branch in Muscat dedicated to Al Nukhba and exclusive clients, underscoring the bank’s commitment to delivering a premium and highly personalized banking experience.

Further strengthening the retail experience, instant credit card issuance - now available across all ahlibank and 16

Mobile banking app revamp

ahliPOS

August 2025

On the corporate side, ahlibank continues to advance enterprisegrade digital platforms and acquiring solutions that cater to businesses of all sizes. This includes SoftPOS (ahliPOS), which allows merchants to accept

Rusayl Industrial Zone

Inauguration of three new branches Al Amerat

Total Network reach of

52 branches across

18 November Street

Oman

secure, contactless payments directly on NFC-enabled Android devices without the need for additional hardware. The bank also provides a Payment Gateway solution that enables businesses to accept online payments with ease, combining advanced security with flexible integration and support for a wide range of payment methods, making it an essential tool for both e-commerce players and larger enterprises seeking to expand their digital reach. These offerings are complemented by the upgraded ahliNET platform, which now facilitates automated recurring payment mandates and advanced cash management, as well as the bespoke B2B portal, which integrates payment automation, ERP compatibility, payroll solutions, and real-time reporting to deliver seamless financial operations at scale.

This unified digital architecture reflects more than just innovation - it affirms

ahlibank’s role as a trusted partner in digital banking for both individuals and institutions.

Partnering with SMEs for Scalable Progress SMEs and corporates form a vital pillar of Oman’s economic landscape, and ahlibank continues to play an active role in unlocking their growth potential. This commitment is reflected in initiatives such as the ahlibank Ramadan Souq, which marked its third edition in 2025. Over the years, the souq has established itself as a vibrant marketplace for local entrepreneurs, blending commercial exposure with community engagement.

The latest edition brought together more than 60 SMEs, attracted over 2,000 visitors, and provided a platform for both sales and visibility— reaffirming ahlibank’s commitment to nurturing entrepreneurship while

advancing social and economic inclusion. ahlibank has also advanced its digital and financing solutions for both SMEs and corporate clients. A key example is the POS Financing Program, tailored for SMEs using ahlibank’s point-ofsale terminals. Offering short-tomedium-term loans of up to OMR 150,000, with repayments linked to daily POS transactions, the program also includes added benefits such as corporate credit cards with predefined limits.

The program’s flexible structure and hassle-free disbursement are designed to meet a range of operational and capital requirements. For larger corporates, ahlibank continues to develop tailored partnerships through enterprise-grade platforms, such as enhanced treasury solutions, payroll systems, and bespoke digital portals,

Corporate Social Responsibility Impact

Al Rahma Association for Motherhood and Childhood

Omar Bin Al Khattab Institute

Al Noor Association for the Blind

Provision of home essential appliances for women-led households

Smart boards for visually impaired students

SME Training for visually impaired 100+ participants

Back to School 2025 Initiative

Ramadhan Charity Drives

ahlibank Souq 3rd Edition

Essential school supplies for over 2000 orphaned and low income family students

Ramadan initiatives Iftar meals distribution, Eid clothing, Kaswat Eid

Hosted over 60 entrepreneurs, 2,000+ visitors, 250 children

BANKING

ensuring scalability, efficiency, and seamless financial operations at scale.

Together with digital innovations like ahliPOS, these initiatives reinforce ahlibank’s holistic approach to business enablement through both liquidity and technology. In parallel, the bank’s existing platforms, such as the collateral-free Tamkeen crowdfunding initiative, advisory support, and a dedicated SME banking unit, demonstrate how ahlibank continues to scale with entrepreneurs, not just serve them, cementing its role as a growth partner attuned to the evolving needs of the market.

The bank’s focus on empowerment and access has equally shaped ahlibank’s SME banking strategy— earning it the title of ‘Best Bank for SMEs’ at the Euromoney Awards 2025, an accolade that reflects not only its expanding digital ecosystem but also its deeper commitment to entrepreneurship and economic inclusion.

Strengthening Market Presence Reaffirming its commitment to national reach and customer proximity, ahlibank expanded its physical footprint with the inauguration of three new branches during the first half of 2025. Among these was a new branch on 18 November Street in Muscat, equipped to the highest banking standards and featuring dedicated service centers for the Al Nukhba and Exclusiv private banking segments. The branch combines comprehensive retail offerings—ranging from account opening, card services, and financing facilities to wealth management advisory—with exclusive spaces that prioritize privacy, comfort, and premium service for high-net-worth clients.

In addition, the bank opened two more conventional branches in Al Amerat, Rusayl Industrial Zone. Each branch has been strategically positioned to serve high-potential areas, from industrial hubs to residential communities, ensuring broader access to personalized, premium financial 18

August 2025

services across the Sultanate.

Driving Community Impact through Strategic CSR ahlibank’s commitment to community upliftment is anchored in a deeply embedded culture of volunteerism and social responsibility. This ethos is cultivated across the organization through structured awareness programs and employee workshops.

Underpinning these efforts is a strategic CSR framework designed to make community service a shared value and collective pursuit. At the operational forefront is the ahli Cares team, ahlibank’s dedicated CSR unit, which spearheads the planning, coordination, and execution of the bank’s wide-ranging social initiatives, highlighting the bank’s approach that real community value is cultivated through internal alignment and deliberate intent.

Through its collaboration with Al Rahma Association, ahlibank exclusively supported over 2,000 children in the Back to School 2025 campaign and provided essential appliances to women-led households under the SAS project, reflecting a targeted approach to social upliftment.

This reflects ahlibank’s recognition of women as drivers of community development and as essential partners in building the nation’s socioeconomic resilience.

Furthering its inclusive agenda, the bank sponsored smart boards for the Omar Bin Al Khattab Institute for the Blind, enhancing learning environments for visually impaired students. In partnership with the Al Noor Association, the bank sponsored SME training and financial literacy programs that benefited over 100 visually impaired individuals from across the Sultanate. The initiative also included the provision of specialized educational tools, such as the Perkins Brailler and compatible Braille paper, equipping participants with practical resources for economic independence.

During Ramadan, ahlibank deepened

its community engagement through a series of thoughtful initiatives. In collaboration with the Oman Food Bank, the Iftar Sayem campaign powered by dedicated volunteers from the ‘ahli Cares’ team—delivered meals to families in need. The bank also partnered with Al Rahma Association to provide essential appliances and Eid clothing to low-income households, while extending additional support to elderly residents of the Social Welfare Home through the provision of new clothing and tailoring services during both Eid al-Fitr and Eid al-Adha.

Further amplifying its impact, the Kaswat Eid campaign distributed festive attire to underserved families via the bank’s nationwide branch network and charitable partners.

Adding to this breadth of engagement, ahlibank also served as the exclusive banking partner of the Muscat Marathon, a landmark sporting event that promotes healthy lifestyles and community participation. By supporting platforms that encourage wellness and inclusivity, the bank underscores its belief that true prosperity is as much about social vitality as it is about economic progress.

Driving ESG Excellence using Renewable Energy As part of its commitment to environmental responsibility, ahlibank has steadily integrated sustainable practices across its operations. A key milestone in this journey is the solarpowered car parking facility at its Head Office, a testament to the bank’s ESG strategy. The initiative supports the Sultanate’s national goals for a green, circular future while contributing to broader global efforts to combat climate change.

By adopting advanced photovoltaic infrastructure, the bank has significantly reduced its reliance on conventional power sources, improved operational efficiency, and materially lowered its carbon footprint. The solar installation offsets a measurable volume of CO2 emissions each year, underscoring ahlibank’s role in

Environmental Sustainability Impact Solar-powered car parking facility at ahlibank’s Head Office

Generates 435,000 kWh of clean energy annually, supporting renewable energy

advancing Oman’s clean energy transition.

This environmental achievement complements the bank’s wider social responsibility agenda and reinforces its reputation as a progressive institution delivering sustainable value not just to stakeholders, but to society at large.

Nurturing Oman’s Youth for Future-Ready Leadership ahlibank’s enduring dedication to youth empowerment is demonstrated through its sustained investment in structured development programs

Avoids 250 tons of CO₂ emissions yearly, cutting our carbon footprint and improving air quality

Reduces reliance on the electricity grid, and easing pressure on current resources

that equip young Omanis with the skills, mindset, and exposure required to succeed in a competitive banking landscape. These initiatives form a strong foundation for cultivating future-ready talent—advancing national workforce objectives while reinforcing the bank’s culture of excellence.

potential Omani graduates a rigorous framework encompassing technical training, cross-functional experience, targeted mentorship, and leadership development. Beyond capabilitybuilding, the program is designed to instill confidence, accountability, and a clear sense of purpose among emerging banking professionals.

At the forefront of this agenda is HIMAM, ahlibank’s flagship graduate development program and a cornerstone of its human capital strategy. Recognized nationally for its impact, HIMAM offers high-

In 2025, the bank marked a significant milestone with the graduation of HIMAM’s eighth cohort, ninth and the launch of its ongoing tenth, underscoring a decade-long, uninterrupted commitment to youth

BANKING

Youth Empowerment at a Glance

>110

>28

>145 Business Graduate Program

Omanization rate

94.13%

development. Today, HIMAM stands as a national benchmark in financial sector workforce development, affirming ahlibank’s belief that sustainable progress begins with empowered people. ahlibank’s sustained focus on youth development is further reinforced through long-running initiatives like the iGeneration (iGen) program, which targets recent graduates and earlycareer professionals. By offering handson exposure to banking operations, real challenges, and intensive training in emerging technical and soft skills,

20

August 2025

Total number of employees up to date = 1057

iGen continues to nurture talent capable of thriving in the digital era.

In addition, the Business Graduate Program (BGP), a foundational training platform for new hires that promotes continuous learning and operational excellence, forms part of a broader suite of initiatives aligned with the bank’s human capital strategy. Over 145 graduates have been a part of the program with the 9th batch running currently. Together, these efforts reflect ahlibank’s alignment with Oman Vision 2040 and its conviction that unlocking human potential is key to long-term national progress.

ahlibank’s performance in the first half of 2025 transcends mere financial metrics—it presents a holistic model for banking with impact. From expanding access to financial services and delivering digitally enabled solutions, to championing inclusive growth and cultivating human capital, the bank continues to deliver on its promise as the Partner in Excellence.

Each achievement reinforces ahlibank’s enduring commitment to a future defined by shared prosperity, sustainability, and a people-centered approach to progress.

COVER STORY

EVOLVING WITH TIMES

With the digital revolution reshaping the financial sector, traditional banks in Oman are increasingly adopting new technologies to maintain their competitive edge. An OER Report

T

echnological advancements are making the financial sector more digitalised and increasingly reliant on data, increasing the scope of collecting more granular data and offering data-driven solutions. These technological advancements are, however, not without challenges. The Central Bank of Oman (CBO) has officially introduced the Regulatory Framework for Licensing Digital Banks, effective June 1, 2025, marking a significant step forward in the Sultanate’s digital transformation of the financial sector. Defined as banks offering all banking products and services exclusively through digital channels, these institutions are equipped to provide a wide range of value-added banking products and services across the financial ecosystem. Under the new regulatory framework, digital banks are required to establish a physical presence within the Sultanate, either as a head office for locally incorporated entities or a registered office for branches of foreign digital banks.

This location must enable effective communication and supervision by the CBO, including access to senior management and the board of directors. While digital banks are not permitted to open traditional customer-facing branches, they may set up additional physical offices for administrative purposes or to facilitate face-to-face customer inquiries, complaints, or support—provided these offices meet regulatory standards.

The CBO has also taken regulatory measures to revolutionise the financial landscape of the Sultanate of Oman for 22

August 2025

the benefit of both the businesses and the financial customers while ensuring Oman's financial sector remains at the forefront of technological advancements to drive digitalisation and sustainability. It has unveiled a series of groundbreaking regulatory initiatives designed to advance Oman's economic diversification efforts in alignment with the National Development Strategy and national priorities. These proactive measures—

including sector-specific lending focus, capital relief programs, and the modernisation of liquidity and interest rate risk management frameworks— are poised to transform the banking sector's role in promoting sustainable economic growth. These initiatives aim to direct capital toward highpriority non-oil sectors, equipping banks with enhanced capital buffers to support growth while managing risks effectively. This strategic approach

could enable banks to potentially finance over $25 billion over the next five years, significantly driving non-oil GDP growth and generating thousands of job opportunities for Omanis by 2030. Key sectors targeted include tourism, renewable energy, logistics, mining, agriculture, fisheries, education, healthcare, and technology.

In a further strategic move, the CBO has equipped banks with advanced liquidity management tools, allowing

advancing the banking sector and payment services in the Sultanate of Oman. It is worth noting that the Bank, in cooperation with the banking sector in Oman, had previously launched on a pilot basis in 2021 both the Direct Debit System and the Mandate Management System for direct debit. The direct debit service acts as a payment instruction that authorises a deduction from the payer’s bank account in favour of the beneficiary, based on

the electronic direct debit mandate service to their individual, corporate, and financial sector clients. It is expected that the remaining banks will complete the implementation of this service by 2025. The electronic direct debit mandate aims to improve the current paper-based system by achieving several objectives, including reducing operational costs compared to cheques, minimizing errors and transaction processing time, enhancing the efficiency of banking process automation, strengthening banking security, and accelerating fund transfers between various parties. The legal reliability of this service is reinforced by the National Payment Systems Law No. 8/2018, which ensures the ability to take legal action in the event of a returned direct debit instrument. It also helps mitigate risks of fraud and forgery typically associated with cheques, thereby increasing confidence in digital transformation and paving the way for the digitisation of more banking services in the Sultanate of Oman.

Over the past two decades, the banking sector in the Sultanate of Oman has witnessed significant developments, which prompted a comprehensive review of the legislative framework to keep pace with the rapid transformations in the Banking and financial businesses to benefit from the advancements made in digital innovation and technology in offering banking and financial services. These developments are reflected in the new Banking Law. Banking operations and CBO are regulated in two legislations: The first is related to the regulation and governance of CBO's as a unit of the State's Administrative Apparatus, while the second regulates banking business and non-banking financial activities.

them to respond more adeptly to market dynamics. By enhancing interest rate risk management practices, banks can optimise their funding structures, offer competitive pricing, and support the long-term growth of Oman's financial ecosystem.​ The CBO has further launched the digital direct debit service following a series of enhancements aimed at

a request initiated by the latter. This enhancement enables the electronic issuance, processing, and settlement of direct debits, ensuring ease of use for both individuals and businesses. It also supports digital transformation in the financial sector and reduces reliance on cheques.

Several banks in the Sultanate of Oman have already started offering

The new Banking Law comprises (241) Articles, drafted according to the latest legislative methods and techniques that rely on clarity in legal language, enabling specialists and the public to understand and apply the texts. Moreover, consideration was taken on the clear and sequential breakdown of the Law. Chapter One includes definitions and general

COVER STORY

provisions, while Chapter Two is concerned with regulating CBO, addressing its responsibilities, finances and work mechanisms, including implementation of the monetary policy and liquidity management. Chapter Three focuses on regulating the issuance of the national currency by CBO only, to ensure consistency of procedures with global developments and allow CBO to update the currency's forms and techniques.

The new Law also comprises provisions for attracting local and foreign investments in the banking sector, by allowing foreign banks to operate in the Sultanate of Oman while enhancing flexibility of investment and credit activities of licensed banks, serving as a legislative basis for banks to support small and medium-sized enterprises (SMEs) and provide funding to businesses and projects. Moreover, a whole chapter has been dedicated to regulating Islamic banking, by enacting provisions to enhance its attractiveness, such as avoidance of double taxation on real estate and movable property when the related transactions are carried out in exact accordance with the principles of Islamic banking.

Furthermore, the Banking Law introduces new ways of doing banking and financial business, such as digital banks and financial technology (Fintech), paving the way for the launch of digital crowdfunding platforms, open banking applications and other technology-based financial services enshrining relaxations on the regulatory requirements, whilst to encourage these activities and support financial inclusion. The law also highlights the importance of protecting the rights of customers and consumers utilising financial services in the banking sector and other financial institutions, by enhancing the principles of transparency, fairness and disclosure of services and prices, in addition to data protection and privacy.

Bank Muscat, the leading financial 24

August 2025

services provider in the Sultanate of Oman, delivers a suite of innovative and comprehensive banking solutions through its Internet Banking and Mobile Banking platforms tailored to satisfy the needs of customers. With these channels offering a fast, flexible, and secure banking experience, customers may avail over 100 digital banking services available 24/7, without the need to visit a physical branch. Bank Muscat’s end to end digital banking portfolio includes making local and international money transfers, paying bills, and submitting applications for supplementary credit cards. Parents can also use these channels to open and manage children accounts and transfer funds. Other solutions also comprise applying for and renewing debit cards which customers can receive via express courier, tokenizing debit, credit, and prepaid cards, along with setting PINs, submitting investment fund subscription requests, opening Themaar Savings Plan and fixed deposit accounts, applying for the Bank Muscat Shukran prepaid card, requesting stamped account statements, stopping cheques, paying traffic fines to the Royal Oman Police, updating mobile numbers and email addresses.

BankDhofar, has firmly established itself as a digital pioneer in Oman’s banking landscape, aligning its innovations with the nation’s Vision 2040 and setting new industry benchmarks. In March 2024, the bank launched Dhofar Pay, a cuttingedge mobile payment solution that allows customers to convert their NFC-enabled Android smartphones into tokenized, contactless payment devices—the first offerings of its kind in the Sultanate. This move was quickly followed by the bank becoming the first in Oman to integrate Samsung Pay, Apple Pay and push provisioning to Samsung Wallet on the horizon. BankDhofar has also redefined recurring payments through the introduction of EasyMandate and EasyDebit, which enable paperless authorization of payments for rent, utilities, tuition fees, and more.

These platforms significantly reduce

manual errors while offering speed and convenience to both individual and corporate users. A standout success in BankDhofar’s digital journey has been the relaunch of its Intilaqa Digital Onboarding App. The revamped platform now features remote Know Your Customer (KYC) verification via video call, integration with the Mala’a credit bureau, and doorstep card delivery. Customers can open accounts entirely online, making it one of the most seamless onboarding journeys available in the region. Complementing this, the bank’s upgraded mobile banking app offers best-in-class security with API 33 compliance, SIM-based verification, and biometric authentication.

Corporate clients have benefited from real-time settlements through a new Ministry of Finance interface and improved FX transparency.

Meanwhile, the bank’s early leadership in the SoftPOS market and active collaboration with fintechs is reshaping Oman’s broader payment ecosystem.

In a move underscoring its commitment to driving digital innovation and financial inclusion, Sohar International has announced the official launch of its Open Banking platform—making it the first bank in the Sultanate to introduce a fully integrated Open Banking solution.

This strategic advancement enhances the bank’s digital ecosystem and reflects its role as a catalyst for technology-driven progress within Oman’s financial sector. Open Banking gives businesses greater visibility and control over their financial information, helping them manage cash flow, plan more accurately, and make informed decisions. The platform also enables faster, more efficient financial transactions, reducing complexity and improving daily business operations. In alignment with Oman Vision 2040 and its commitment to promoting financial inclusion, Sohar Islamic Sohar International Islamic Window - has launched its online Unified Transaction Banking Platform for its Wholesale Banking Clients. This platform offers Cash Management

and Trade Finance solutions, serving as a comprehensive solution for corporate and institutional clients; everyday banking needs. It provides convenient features such as auto reconciliation, supply chain finance, liquidity management, receivables management, digital trade finance, and payment processing. Incorporating global technology trends, these online unified transaction banking services align with the bank’s ongoing digitalization strategy. ahlibank’s commitment to digital transformation is demonstrated through its enhanced mobile banking app, instant credit card issuance, and cutting-edge digital services and branches, positioning the bank at the forefront of innovation. As part of its ongoing digital transformation journey, ahlibank has rolled out a suite of forward-thinking digital solutions designed to enhance customer experience, drive financial inclusion, and support the evolving needs of businesses and individuals alike. Key among these initiatives is ahlinext, an engaging platform that combines interactive learning with practical financial tools to help children manage allowances, earn rewards, and build financial literacy in a secure, parent-controlled environment.

Complementing this, the bank introduced its advanced E-Mandate service via the corporate internet banking portal ‘ahliNET’, offering businesses a seamless and reliable solution for managing recurring payments eliminating traditional paper-based processes.

Reinforcing its leadership in innovation and advanced financial solutions, Oman Arab Bank (OAB) played a key role in collaboration with the Financial Services Authority (FSA) to launch five digital trading platforms for licensed brokerage firms on the Muscat Stock Exchange (MSX).

These platforms are part of broader financial sustainability initiatives aimed at facilitating and stimulating investment, driving comprehensive digital transformation in the Omani capital market, and expanding investor access to local markets.

Through this strategic partnership, OAB continues to play a leading role in fostering financial sector growth and promoting investment in the capital market. Recently, the bank introduced a suite of advanced digital services, including collection solutions via virtual accounts, which enable clients to manage cash flows more efficiently by opening virtual accounts. These solutions enhance transparency, simplify the tracking of outstanding amounts for each project or product, and significantly streamline financial transactions among institutions operating in the financial sector. As a distinguished banking institution in Oman, OAB remains at the forefront of financial innovation, delivering cutting-edge banking solutions while actively contributing to the growth of the financial sector.

Bank Nizwa has introduced a Sharia-compliant Open Banking solution for fintech partners. This initiative aligns with the Central Bank of Oman’s (CBO) vision to foster innovation in the financial sector and accelerate digitalization in banking to strengthen the nation’s digital financial ecosystem. The solution empowers fintechs and partners to design innovative financial solutions within a framework that upholds the highest standards of regulatory integrity and full compliance with Islamic Sharia principles. Built on a secure API framework, it enables authorized third parties to access account data and banking services through customer- approved permissions, ensuring transparency, data protection, and regulatory alignment. This architecture allows financial institutions and developers to connect with Bank Nizwa’s core systems in real time, accelerating the development of next-generation digital offerings and expanding the reach of Sharia-compliant financial innovation.

For Fintechs, it provides a robust and scalable foundation to bring Sharia-compliant solutions to market with greater speed and efficiency.

Customers, in turn, benefit from a more intelligent and advanced banking experience, with services that are increasingly customized, responsive,

and easy to access. The solutions strengthen the broader financial landscape and support the evolution of more inclusive, tech-driven banking services.

In line with its vision of ‘Personalising every financial experience through innovative and smart solutions’ and its commitment to digital innovation and customer-centric services, Alizz Islamic Bank has announced the launch of its new mobile business banking application, ‘Alizz Connect’, designed specifically for corporate and SME customers. The new app compliments the bank’s existing Alizz Connect internet banking platform, offering an enhanced level of convenience and mobility for business owners and finance teams who require flexible banking on the go. Alizz Connect brings together robust security, an intuitive user experience and direct integration with the bank’s core systems, providing business customers with real-time access to critical financial functions. With features that simplify transaction monitoring, payment approvals, Wage Protection System (WPS) salary transfer and account management, the app aims to reduce operational complexities and empower businesses to manage their finances more efficiently.

The National Bank of Oman (NBO) continues to support business owners through an integrated suite of merchant payment services designed to simplify payment acceptance, processing, and enhance customer convenience. The Bank offers a full spectrum of merchant payment solutions, including Point of Sale (POS) terminals, an E-Commerce Payment Gateway and Merchant QR Codes.

The E-Commerce Payment Gateway supports 3D secure online payments and offers a secure and seamless checkout experience. The solution offers link payments, recurring payments, and batch payments options, as well as smart routing of transactions through a single application programming interface.

E–commerce payment gateways are compatible with ERP systems, websites and mobile apps.

COVER STORY - DIGITAL BANKING

DRIVING INNOVATION Bank Muscat is actively pursuing strategic partnerships and collaborations to enhance its digital banking capabilities and deliver cutting-edge financial services, says Abdullah Hamood Al Jufaili, Assistant General Manager - Digital Banking, Bank Muscat in an interview with Oommen John

How has Bank Muscat’s digital banking evolved in response to the changing financial sector landscape?

Bank Muscat has significantly evolved its digital banking services in response to the rapidly changing financial landscape marked by technological advancements, shifting customer expectations, and increasing demand for convenience and security. The Bank has adopted a robust digital transformation strategy aimed at enhancing the customer experience through its seamless, and secure Internet Banking and Mobile Banking (IBMB) platforms.

With the rise of fintech competitors and growing consumer demand for realtime, on-the-go banking, Bank Muscat continues to upgrade its platforms with user-friendly interfaces and enhanced cybersecurity protocols. In this context, the Bank recently redesigned its Mobile Banking platform with a fresh look and a smoother, more intuitive experience. The new design offers 26

August 2025

easier navigation, quicker access to key enhanced features, and a cleaner layout making the day-to-day banking more efficient and user friendly.

The integration of data security and real-time transaction monitoring measures reflects the Bank’s commitment to innovation. By continually listening to customer feedback and leveraging emerging technologies, the Bank remains a leader in the Sultanate of Oman’s digital banking space, ensuring its services evolve in tandem with global banking trends and the expectations of a techsavvy generation.

What are some of the key banking solutions and services which the Bank offers through its channels?

Bank Muscat offers a wide range of banking solutions through its digital channels. To name just a few, the Bank offers customers a more seamless and secure banking experience with the introduction of card tokenisation through

Apple Pay and Samsung Pay. This new feature allows customers to effortlessly add their Bank Muscat cards directly to their Apple Pay or Samsung Pay wallets via the MB channel. This innovative launch aligns with Oman’s ambitious vision for a cashless society, simplifying the way people manage their finances and engage in everyday transactions.

The Bank has also revolutionised a unique way for customers to initiate Eidiya payments through the platform.

Furthermore, customers may apply for Bank Muscat Mutual Funds such as Oryx Fund and Money market Mutual Fund which provide investors with capital appreciation and steady returns, respectively. Bank Muscat has also facilitated the application for several initial public offerings (IPOs) along with financing facilities. The Bank also provides the e-mandate service dedicated for its government and corporate customers to complete their direct debit transactions. Earlier this year, the e-mandate solution was introduced to the Bank’s government and corporate

customers for direct debit transactions.

Recently, the Bank activated the International Bank Account Number (IBAN) for fund transfers across borders, aiming to reduce operational errors and speed up financial transactions between individuals and businesses, ultimately providing beneficiaries with safer and smoother transfers.

How does the digital banking division align with Bank Muscat’s broader sustainability goals?

Bank Muscat’s Digital Banking Division plays a pivotal role in advancing the Bank’s broader sustainability goals by promoting environmental sustainability, financial inclusion, and operational efficiency. By transitioning services to digital platforms, the Bank significantly reduces paper consumption and physical branch traffic, lowering its carbon footprint and contributing to a greener future. These efforts align with Bank Muscat’s sustainability framework, which emphasises ecoconscious practices and responsible resource management. In addition, digital banking facilitates greater financial inclusion by extending services to underserved populations across the country, helping bridge socio-economic gaps through technology.

The Bank’s IBMB channels enable customers to access essential financial services without the need for physical infrastructure, thus, supporting inclusive economic growth. Moreover, the Bank’s digital initiatives are designed to enhance long-term operational sustainability by streamlining internal processes, reducing costs, and improving service delivery.

As part of its ESG commitments, Bank Muscat ensures its digital innovations are developed with data privacy and security at the forefront, safeguarding customer trust. Altogether, the digital banking division is not only a driver of innovation but also a cornerstone in achieving the Bank’s sustainability and social impact objectives.

to enhance its digital banking capabilities and deliver cutting-edge financial services. Recognising the importance of ecosystem-driven innovation, the Bank has entered into collaborations with regional and international fintech companies to co-develop advanced digital solutions.

These partnerships focus on areas such as AI-powered financial planning tools, cybersecurity enhancements, and realtime payment infrastructure. Notably, Bank Muscat has also partnered with local start-ups through incubators and accelerators to foster innovation within the Sultanate’s financial technology space, encouraging the co-creation of customer-centric solutions tailored to local market needs. These alliances allow the Bank to remain agile, quickly adapt to emerging trends, and meet evolving customer expectations. Through these strategic engagements, Bank Muscat aims to maintain its leadership in digital banking, continuously enriching its service portfolio and reinforcing its mission to provide secure, efficient, and innovative banking solutions to customers.

Are there any strategic partnerships or collaborations that Bank Muscat is pursuing to enhance its digital banking capabilities?

Bank Muscat is actively pursuing strategic partnerships and collaborations

What are the key trends in digital banking that you foresee influencing the industry in the next few years?

Several key trends are poised to reshape the digital banking landscape in the coming years, and Bank Muscat is

closely aligned with these developments.

One prominent trend is the rise of personalised banking powered by artificial intelligence and data analytics.

Banks will increasingly offer customized financial solutions based on individual behaviour and preferences.

Another significant trend is the expansion of open banking, enabling seamless integration with third-party services and fintech platforms to create more holistic financial ecosystems.

Embedded finance, where banking services are integrated into non-financial platforms, will also become more prevalent, offering customers greater convenience. Furthermore, cybersecurity and digital identity solutions will be central to securing digital interactions and maintaining trust. The shift toward cashless societies will accelerate, driven by contactless payments, digital wallets, and QR code transactions. Additionally, sustainability will influence digital banking strategies, with institutions adopting green technologies and promoting paperless banking.

Bank Muscat is already taking proactive steps to incorporate these trends, ensuring its digital banking strategy remains future-focused and responsive to the evolving demands of tech-savvy consumers and regulatory environments.

INSURANCE

SEAMLESS ASSURANCE

Dhofar Insurance is redefining customer experience through digital innovation, blending convenience, security, and accessibility to lead Oman’s InsurTech transformation expect artificial intelligence (AI) to reshape their business within the next three years, and more than 80 per cent are already planning to ramp up AI spending.

However, the company is not standing still. It is currently reviewing how natural language processing (NLP) and AI can further improve customer journeys and automate claims. Research from Prosci, a global consultancy, suggests that AI and analytics are likely to account for almost half of all digital transformation investment in the insurance sector in the years ahead. But Dhofar Insurance is also conscious of the risks – from deepfakes to fraudulent claims – and is determined to balance efficiency with the human oversight that underpins trust in the industry.

D

hofar Insurance is betting big on digital – and the results are beginning to show. At a time when nearly 70 per cent of insurance buyers globally expect to transact online, yet fewer than half of insurers are able to provide instant digital quotes, according to The Economist Intelligence Unit, the company has moved quickly to close that gap and set a new benchmark for the sector in Oman.

The standout move has been the launch of a WhatsApp channel that allows customers to purchase or renew a policy in just two to three minutes. It’s powered by seamless API integration with the core system, transforming what was once a paperheavy, time-consuming process into something as simple as sending a message.

The website tells a similar story of efficiency. For customers, securing a new policy has been reduced to three steps, with renewals even faster. Optical character recognition (OCR) now handles critical documents like mulkiya and driving licences, cutting out manual input and the errors that come with it.

Even quotations can be renewed directly by customers – a small but powerful shift towards transparency and customer empowerment.

On the retail side, Dhofar Insurance has invested in building a digital ecosystem that feels effortless. A mobile app puts services in customers’ pockets, while a web-based chatbot ensures queries are handled round the clock. The push aligns with global industry momentum. Whatfix, a global leader in digital adoption platforms, notes that two-thirds of insurers 28

August 2025

Importantly, the insurer knows digital doesn’t work for everyone. Its mobile van service ensures physical access for communities with lower digital adoption, complementing the high-tech channels. At the same time, new feedback tools, including an automated survey mechanism via WhatsApp and compliance portals on the website, are being developed to capture and act on real-time customer sentiment. Behind the curtains, Dhofar Insurance is strengthening its API backbone and forging new partnerships. Beyond back-assurance channels, it has piloted integration projects with banking systems that promise to weave insurance services more tightly into the wider financial ecosystem.

These steps put Dhofar Insurance squarely in line with global digital transformation trends. Market Research Future projects the digital insurance platform market – valued at around US$44 billion in 2024 – will soar to nearly US$154 billion by 2034, growing at 13 per cent annually. Coin Law, a fintech and blockchain research group, expects the wider digital insurance technology market to reach over US$255 billion by 2030, up from US$148 billion this year, at a compound annual growth rate close to 12 per cent.

For Dhofar Insurance, the digital journey is not just about technology – it is about redefining the way customers experience insurance. By blending WhatsApp-driven renewals, mobile and web platforms, AI-led enhancements, automated feedback, and robust security, the company is creating a model that feels both distinctly Omani and globally competitive.

In the end, its advantage lies in balance: digital convenience on one hand, human accessibility on the other. That mix is what makes Dhofar Insurance’s strategy not just timely, but transformative, thereby positioning it as a frontrunner in shaping the future of InsurTech in Oman.

COLUMN

PARADIGM SHIFT The risk of the US dollar in global investment portfolios

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s of mid2025, the US Dollar Index (DXY) is down around 10–11 per cent year-to-date — its worst first-half performance since 1973.

This sharp decline raises pressing questions for global investors about the sustainability of king dollar dominance and the implications for international portfolios.

Global investors and private clients should keep two memorable expressions in mind to secure and maintain their wealth: “Those who live in glass houses should not throw stones.” “The dollar is our currency, but your problem.” — John Connally, U.S. Treasury Secretary, 1971.

Connally’s quote, delivered shortly after the Nixon administration broke the link between the dollar and gold, captures the asymmetric impact of U.S. monetary policy on the rest of the world. And today, these words remain strikingly relevant.

Despite its unparalleled role as the world’s primary reserve currency, the U.S. dollar’s dominance comes with increasing scrutiny. The United States relies heavily on foreign demand for its debt, persistent trade deficits, and the confidence of global markets. Aggressive use of the dollar in sanctions and financial warfare has prompted both adversaries and allies to rethink their dollar exposure — a trend that, over time, may erode the very foundation of U.S. financial power.

With a weakening dollar, ballooning fiscal deficits, and mounting political polarisation, Washington may indeed be “throwing stones” from a fragile financial glass house. A central vulnerability in many global portfolios is overexposure to the dollar. Central banks, sovereign wealth funds, and institutional investors — particularly in emerging markets — often hold

large allocations to U.S. Treasuries and other dollar-denominated assets.

While historically considered safe, such concentration magnifies losses when the dollar depreciates.

U.S. monetary policy continues to have outsized influence on global markets.

Federal Reserve decisions ripple worldwide: Rate hikes strengthen the dollar, making debt more expensive for foreign borrowers. Easing or QE can weaken the dollar, eroding the value of dollar-denominated assets.

Today, persistent inflation remains a challenge. If real yields lag inflation, dollar assets may generate negative real returns for global investors.

Traditionally seen as a safe haven, the U.S. is now increasingly viewed as fiscally and politically vulnerable: Rising national debt and repeated debt ceiling standoffs; Fiscal gridlock and political dysfunction; Geopolitical tensions and heavy-handed use of dollar-based sanctions. These factors may gradually undermine the global trust in the dollar and U.S. debt markets.

The global shift away from the dollar is no longer hypothetical. China, Russia, Iran, and members of the BRICS bloc have increased bilateral trade in local currencies. The rise of the digital yuan, and new payment infrastructures bypassing SWIFT, are signs of a changing monetary landscape. While full dollar dethronement remains distant, a multipolar reserve system may be emerging.

For investors measuring returns in non-dollar currencies, USD fluctuations create substantial performance swings. A weakening dollar can reduce the local currency value of U.S. assets — even if nominal gains remain positive. This risk is critical for pension funds, sovereign wealth funds, and endowments with strict

Rainer Michael Preiss Partner & Portfolio Strategist at Das Family Office in Singapore

liability-matching needs. To navigate this shifting landscape, portfolio managers should consider: Currency Diversification: Allocate across major and emerging-market currencies.

Currency Hedging: Deploy FX futures, options, or swaps to protect against downside risks. Geographic Diversification: Reduce home bias and explore opportunities in nonU.S. markets. Structural Awareness: Track global reserve currency trends, especially movements within BRICS+, and digital currency adoption.

The dollar’s steep decline in 2025 is broad-based, with strength in the euro, pound, yen, and commoditylinked currencies reflecting growing scepticism about U.S. macro fundamentals. With Fed rate cuts anticipated and global growth stabilising, consensus tilts toward continued dollar weakness — barring a resurgence in U.S. productivity, capital inflows, or global risk-off behaviour.

The U.S. dollar remains a central pillar of the global financial system. But for investors, that pillar is no longer unshakable.

Overreliance on the dollar exposes portfolios to a range of risks — concentration, inflation, geopolitical fallout, de-dollarisation, and volatility.

Managing these requires a forwardlooking, globally diversified approach rooted in currency discipline and geopolitical awareness.

EVENT

THE COMEX EFFECT

COMEX, Oman’s flagship technology exhibition and a leading platform for digital transformation, innovation, and investment, is spotlighted in this interview with Amr Baabood, CEO, OITE Group, who shares its evolving role and global impact. Alvin Thomas reports are even stamps and telephone cards in Oman’s history that were created to commemorate COMEX, a testament to how deeply it has been woven into the country’s technological and cultural fabric. Internationally, our positioning is unique because of our deep integration with Oman’s Vision 2040 agenda. Every edition of COMEX contributes directly to the national diversification strategy, focusing on ICT, fintech, logistics, manufacturing, and beyond. But what sets us apart from other regional and global events is that we are not only a showcase, but a holistic ecosystem that involves the government, private sector, startups, investors, and academia.

Our presence extends beyond Oman’s borders. We organise press conferences in countries such as India, Egypt, China, Pakistan, and Brazil, and collaborate with Omani embassies abroad. In this way, COMEX serves both as a platform to bring the world to Oman and as a channel to take Oman to the world. That combination gives COMEX a positioning unlike any other: an event that tells the story of a nation’s transformation while creating the environment for investment, collaboration, and innovation to flourish.

COMEX has grown into one of the most recognised technology exhibitions in the region. How would you describe its positioning today compared to other local and international tech events?

COMEX today is not just an exhibition; it is a driver of Oman’s digital economy and a vital part of the nation’s 30

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technology journey. Over 34 years, it has transformed from a local showcase into one of the longest-running and most recognisable technology events in the world. In fact, COMEX has become part of Oman’s story. Many Omanis remember visiting it in their youth, when it first introduced computers and digital tools to households. There

In recent years, COMEX has shifted its focus from a predominantly retail-driven show to a B2B platform with a stronger emphasis on hard technologies. What drove this strategic transition, and how has the industry responded?

In its early years, COMEX was a heavily consumer-driven event. Families would attend to purchase their yearly supply of digital devices, with flagship stores offering special COMEX promotions.

It was, in many ways, the “shopping festival” of the year for technology in Oman.

But as Oman’s economy matured and the private sector expanded, the demand shifted. Businesses and government institutions needed enterprise solutions, infrastructure, and integrated systems to drive efficiency and growth. This is when international players like Microsoft, Cisco, SAP, Oracle, and several others entered COMEX, transforming it into a platform where service providers and system integrators could directly engage with Omani enterprises and government bodies.

This strategic shift didn’t happen overnight. It was a natural evolution shaped by the needs of the economy.

Today, COMEX serves as a bridge between global technology providers and Omani industry sectors, from energy and logistics to healthcare and finance. The response from industry has been overwhelmingly positive. Exhibitor quality has risen, collaborations have deepened, and the scope of engagement has extended far beyond the four days of the event.

In fact, we are now exploring ways to reintroduce some of the retail elements, because COMEX remains the nation’s event, and we want it to be relevant to students, young people, and the general public as well.

As CEO of OITE/ARB, how do you personally envision the future of COMEX in driving Oman’s digital transformation agenda and aligning with Vision 2040?

My vision is for COMEX to be the launchpad where Oman’s digital transformation targets are translated into reality. Oman Vision 2040 identifies technology as a cornerstone of economic diversification, and COMEX is uniquely positioned to bring together the right mix of policymakers, innovators, and investors to make that happen.

We already see COMEX as a platform where government entities not only showcase their digital initiatives but also actively engage with the private sector to accelerate adoption. For

example, entities like OPAZ (Public Authority for Special Economic Zones and Free Zones) collaborate with us to identify companies that can support their objectives, while international investors view COMEX as the gateway into Oman. In many ways, we act as Oman’s marketing arm to the global tech community.

The future we envision is one where COMEX continues to attract global investors who “fall in love with Oman,” not only with the opportunities but also with the culture and the people. We are already seeing measurable impact in areas such as e-government services, renewable energy deployment, and smart city planning. Our recent agreement with Brand Oman reflects this vision of creating a cohesive, “Team Oman” approach to positioning the country as a digital hub. As we celebrate the 35th edition next year, COMEX will continue to grow as the stage where Oman’s aspirations and global technology innovation meet.

The event brings together government entities, global tech leaders, startups, and investors under one roof. How do you ensure COMEX remains a catalyst for meaningful partnerships and tangible outcomes beyond what you see at the event itself?

The real success of COMEX lies in what happens after the exhibition. For us, it is not about the footfall; it is about the follow-through. Over the years, COMEX has facilitated technology transfer agreements, incubated startup growth, and accelerated investment into key national sectors. MoUs signed at COMEX often lead to fully executed projects, whether in fintech, digital healthcare, industrial automation, or logistics technology.

To ensure continuity, we maintain close engagement with stakeholders throughout the year. We help international companies find local partners, support government bodies in identifying the right solutions, and work with startups to scale their innovations. This active post-event involvement ensures that COMEX is not a one-off networking opportunity,

but rather a continuous pipeline of collaboration.

What also strengthens this is Oman’s unique approach. Unlike many other international events, COMEX is free to attend, keeping the doors open for students, entrepreneurs, and SMEs. This inclusivity ensures that knowledge transfer, innovation, and collaboration extend to all levels of society, enriching the overall ecosystem.

Technology is evolving rapidly in areas such as AI, IoT, cybersecurity, and blockchain. How is COMEX adapting its content, themes, and exhibitor mix to stay ahead of these trends and maintain its relevance for participants?

Technology is moving fast, and COMEX must always remain ahead of the curve.

We have a dedicated research arm that advises us on the latest trends and helps us understand which technologies are most relevant to Oman’s needs. For example, AI-driven public services, blockchain in trade facilitation, IoT in logistics, and cybersecurity frameworks for enterprises are areas where we see strong alignment with national priorities.

This research directly informs the design of our exhibition spaces, conference tracks, and pavilions. But we don’t stop at simply showcasing technology; we create opportunities for participants to engage with it. For example, this year, we are introducing interactive zones where people can “play” with emerging technologies, whether through simulations, hands-on demos, or live integrations. This creates a tangible experience rather than just a theoretical discussion.

Our young and dynamic team is crucial here. With more than 10 nationalities represented, they bring diverse perspectives and agility to identify “wow” technologies that resonate with global audiences. Combined with our international outreach, including planned pavilions from different countries, COMEX continues to adapt its content mix to ensure Oman remains on the map as a progressive, tech-enabled economy.

INFRASTRUCTURE

BUILDING PARTNERSHIPS

Khimji Ramdas Infrastructure Cluster’s vision is to build sustainable partnerships and deliver innovative solutions that align with evolving market needs. “True success is not measured in numbers, but in the strength of the relationships we forge, the expertise we nurture, and the trust we build with customers and partners,” says Hitesh Akarte, COO of Khimji Ramdas Infrastructure Cluster, in an interview with Oommen John Can you share the contributions of KR Infrastructure Cluster to the development of infrastructure in Oman?

Building Oman’s Future, One Project at a Time! Khimji Ramdas Infrastructure Cluster has been a key driver in shaping Oman’s infrastructure landscape, steadily strengthening its capabilities in design-and-build solutions to meet the nation’s diverse needs.

Always at the forefront, KR Infrastructure Cluster brings worldclass designs, global best practices, and tailored products and services to deliver end-to-end solutions that not only address today’s requirements but also anticipate tomorrow’s challenges.

As Oman embarks on its ambitious journey of infrastructure development, the Cluster stands committed to being a trusted partner in realizing this national vision.

Oman’s strategic location and progressive government initiatives continue to position the Sultanate as a regional logistics and industrial hub.

In this journey, KR Infrastructure Cluster supports the nation by offering a wide spectrum of solutions. These include the design and construction of core onshore and offshore structures, modern complexes, and sophisticated interior living and workspaces.

The Cluster also provides specialized support services across multiple sectors—such as designing and building commercial kitchens, industrial laundries, and cold rooms for hospitality, delivering advanced sports flooring and 32

August 2025

fitness solutions, and offering integrated hardware and software systems. Its expertise further extends to marine vessel support services, transportation, and engineering solutions for crushing, cleaning, and conveyor systems, along with mechanical equipment sourcing and servicing. In addition, KR Infrastructure Cluster remains deeply engaged in environmental, oil, and gas solutions to meet the ever-evolving demands of Oman’s infrastructure landscape.

What sustainable infrastructure solutions does KR Infrastructure Cluster provide?

Sustainability is at the Core of Every Build. For us, sustainability is more than a commitment, it is the foundation of how we build. Every project is designed to balance economic growth, social well-being, and environmental stewardship, ensuring today’s progress does not compromise tomorrow’s future.

Our construction practices integrate energy-efficient technologies and eco-friendly materials, reducing environmental impact and waste through meticulous planning and modern execution methodologies.

From core civil construction to specialized projects, we adopt sustainable methods to deliver office complexes, industrial warehouses, residential and commercial buildings, community parks, recreational grounds, and ultra-luxurious villas.

Beyond construction, our Building Materials, Air-conditioning, Electrical,

and Office Furniture & Fitouts divisions ensure access to the right products for every segment. By representing some of the world’s most innovative and eco-friendly brands, we bring global excellence to Oman’s doorstep— helping shape a greener, smarter, and more sustainable future.

In what ways does KR Infrastructure Cluster maintain quality in its construction and fit-out services?

Quality That Builds Trust. At Khimji Ramdas Infrastructure Cluster, quality is not just a process - it is a promise. We follow a systematic approach that begins with defining clear quality standards, supported by detailed inspection plans, regular audits, and continuous monitoring. This proactive framework allows us to identify and correct deficiencies early while analyzing results to prevent future issues.

Our strength lies in the expertise of our qualified engineers and experienced staff, who uphold the highest standards of quality checks across all divisions.

This unwavering commitment ensures client satisfaction and fosters long-term relationships with repeat customers.

To deliver uncompromising excellence, we source premium materials from world-renowned brands and apply stringent controls throughout the construction and fit-out process.

Collaboration with clients remains central to our approach, ensuring every project not only meets but exceeds expectations. Beyond delivery, our facility management services provide ongoing support, safeguarding

quality long after project completion.

What primary services does KR Infrastructure Cluster focus on?

Our focus goes beyond delivering projects: We create value-driven, resilient, and sustainable solutions tailored to our clients’ priorities. By combining technical excellence with customer-centric innovation, we continue to expand our portfolio across multiple sectors.

Our core services include: Construction Solutions – Building Materials, Civil Construction, and Electrical Works.

Heat Transfer Solutions – Airconditioning & Appliances, Boilers, and Solar Energy Systems.

MEP Solutions – Comprehensive mechanical, electrical, and plumbing services.

Workspace Solutions – Interior Fitouts, Office Furniture, and Storage Solutions.

Commercial Kitchen & Laundry Solutions – End-to-end facilities for hospitality and industry.

Sports & Fitness Solutions – Advanced sports flooring, fitness equipment, and installations.

ICT Solutions – Information and Communication Technology Infrastructure.

Marine Solutions – Marine Infrastructure Development and Ship Repair Services.

Transport Solutions – Auto Garages, Car Wash Systems, Cable Cars, and Vehicle Inspection Stations.

Environmental Solutions – Water and Wastewater Treatment Plants, Environmental Services.

General Industries, Oil & Gas – Industrial Workshops, Cleaning Systems, Mining, Air Utility, Engineering, and Oil & Gas Services.

Through this wide spectrum of services, KR Infrastructure Cluster reaffirms its commitment to quality, innovation, and excellence.

combine innovation, sustainability, and quality—building infrastructure that supports Oman’s growth and future vision.

Which significant projects has KR Infrastructure completed in Oman?

We have successfully delivered a wide range of marquee projects across Oman, serving both government and private sectors. From major fishing ports and harbours to state-of-the-art sports fields and modern workspaces, our footprint spans multiple industries and communities.

What role does facility management play in the company’s overall service offerings?

At Khimji Ramdas Infrastructure Cluster, facility management is a vital extension of our service offerings— ensuring that every project continues to perform efficiently long after completion.

We have integrated modern design with functionality in large-scale residential developments, delivering vibrant living spaces that meet evolving lifestyle needs. On the commercial front, our expertise is reflected in the construction of office buildings and retail complexes that blend efficiency with aesthetic appeal.

Our portfolio also includes advanced industrial facilities and environmentally sustainable projects that embody our commitment to green building practices. Each project stands as a testament to our ability to

Our scope covers the full spectrum of support, from planning, design, supply, and installation to ongoing maintenance. This includes preventive and corrective maintenance programs, energy management strategies to optimize consumption, user support for seamless operations, and strict compliance with regulatory standards.

By embedding facility management into our services, we not only enhance the longevity and performance of our projects but also guarantee long-term value and client satisfaction. It is this commitment that transforms our builds into sustainable assets for years to come.

REAL ESTATE

CRAFTING COMMUNITIES Stay Real Estate stands out with its ‘roots-to-skyline’ approach. We don’t just construct properties; we create living experiences that respect Oman’s cultural heritage while incorporating modern functionality, says CEO, Ahmed Taha in an interview with Oommen John

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Can you share details about Stay Development’s operations in Oman?

Stay Development has established itself as a dynamic force in Oman’s property landscape, operating with a philosophy that blends traditional Omani architectural heritage with contemporary market demands.

Our operations span across key strategic locations in Muscat, Sohar, and emerging coastal developments, where we have cultivated deep relationships with local communities and stakeholders. What sets us apart is our ‘roots-to-skyline’ approach, we do not just build properties; we craft living experiences that honour Oman’s cultural narrative while embracing modern functionality. Our team of 50 plus professionals includes local talent who understand the nuances of Omani lifestyle preferences, from the importance of majlis spaces to the integration of traditional courtyards in contemporary designs.

What prompted Stay Development to transition into development?

The transition was not sudden, it was an organic evolution born from listening to our clients’ dreams that could not be fulfilled by existing properties in the market. After years of connecting buyers with homes, we realised there was a significant gap between what Omanis wanted and what was available. The ‘aha moment’ came when a young Omani family told us they wanted a home that felt like their grandmother’s house but worked for their modern lifestyle, complete with smart home technology, energy efficiency, and contemporary amenities.

That conversation sparked our vision to become creators, not just facilitators, of the Omani dream home.

How does this shift align with your long-term vision for the company?

Our long-term vision is to be Oman’s most trusted ‘lifestyle architects’ companies that do not just develop real estate but curate life experiences. This shift transforms us from intermediaries to innovators, allowing us to influence the very DNA of how Omanis will live, work, and connect in the future.

We envision Stay Development as the bridge between Oman’s rich past and its ambitious Vision 2040. Every project we develop should tell a story of progress while preserving the soul of Omani identity. In 10 years, we want families to say, “This is a Stay development” and immediately understand it represents quality, cultural sensitivity, and forward-thinking design.

What types of projects are you currently focusing on?

We are pioneering what we call “Heritage-Forward Communities” – developments that feel distinctly Omani while offering world class amenities. Our flagship project, “Olfa” in MQ features 100+ units inspired by traditional Omani fort architecture but equipped with the spirit of the name itself, Olfa represents the value of familiarity and quality of the neighbourhood, a value that we are extremely nostalgic for alongside with communal spaces designed for multigenerational living. We are also developing “Work Live Pods” in response to the hybrid work

revolution compact, efficient spaces that seamlessly blend home comfort with professional functionality. These are particularly popular among Oman’s growing entrepreneurial community.

How do you see the current real estate market influencing your development strategy?

The current market has taught us that Omanis are increasingly sophisticated buyers who value authenticity over ostentation. They want homes that are investments in their family’s future, not just impressive facades. This has shifted our strategy toward what we call “Intelligent Value Engineering” creating developments that appreciate in worth through thoughtful design, energy efficiency, and community-building features rather than just size or luxury finishes.

The market’s emphasis on sustainability has also accelerated our adoption of green building practices. Every new project now includes renewable energy integration, water conservation systems, and locally sourced materials, not because it is trendy, but because it makes economic sense for homeowners in Oman’s climate.

What are the key trends that you believe will shape the future of real estate development?

Climate Responsive Architecture will dominate buildings designed specifically for Oman’s environment, using passive cooling techniques, strategic orientation, and materials that work with hot/humid conditions rather than fighting them.

Our long-term vision is to be Oman’s most trusted ‘lifestyle architects’ companies that do not just develop real estate but curate life experiences. This shift transforms us from intermediaries to innovators, allowing us to influence the very DNA of how Omanis will live, work, and connect in the future.

We envision Stay Development as the bridge between Oman’s rich past and its ambitious Vision 2040

13

th

Edition

Nominations Open Now! The best of the best within construction, infrastructure, projects, civil engineering, real estate, design engineering and construction materials industry in Oman will be felicitated at Dossier Construction Awards.

Event Key Highlights • Awards to key industry projects, companies and personalities • Presentation on an upcoming large iconic project • Attendance of over 200 industry leaders • Networking with industry peers Scan to Nominate Nominations closes on 7th September 2025 Award Categories

• Best Construction Safety Initiative • Best MEP Contractor • Best EPC Contractor • Best Construction Contractor • Best Manufacturing Company • Global Omani Company of the Year • Commercial Vehicle of the Year • Excellence in IFM Services • Best MEP Supplier • Best Interior Design • Best Project Design • Best Architect • Best Engineer • Best Project Management Consultant • Market Leader of the Year - Paints

2025

• Best Project Management Consultant • Claims Management Consultant of the Year • Real Estate Services Company of the Year • Best Real Estate Project • Best Real Estate Consultant • Best Project Developer of the Year • Best Sustainable Project • Best Renewable Energy Project • Best Industrial Project • CEO of the Year • Business Leader of the Year • Business Icon of the Year

ENDORSED BY

2025 Chief Guest

HE Dr. Khalfan Al-Shuaili

Focus - Real Estate

Date: September 17, 2025 Venue: JW Marriott Hotel Muscat Time: 07:30 pm - 9:00 pm followed by dinner

Minister of Housing and Urban Planning Under the auspices of HE Shaikh Salim bin Mustahail Al Mashani

PR EM IER PARTN ER

STR ATEGIC R EAL ESTATE PARTN ER

CON SULTAN T PARTN ER

STR ATEGIC PARTN ER S

A S S O C IAT E PA RT N E R S

COM M E R C I A L VE H IC L E PA RT N E R

B AH RAI N

ZAN ZI B AR

MED I A

D I G I TA L

ORGA NISED

MED I A PARTN ER

MED I A PARTN ER

PARTN ERS

PA RT N E R

BY

digital

For more information, contact SHIVKUMAR on 99267159, shivkumar@umsoman.com OR DHANISH on 92637189, dhanish@umsoman.com

FACE2FACE

STAY TRUE TO YOUR VALUES When businesses contribute to social causes, support education, healthcare, or community development, they help in creating a stable, prosperous, and inclusive environment for everyone, says Dr. Geevarghese Yohannan, Managing Director, Nadan Trading, in an interview with Mayank Singh

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You came to Oman in 1973 and joined Oman Engineering & Contracting Company. How did the opportunity in Oman happen and what are your memories of the early days of the Blessed Renaissance?

The opportunity to come to Oman in 1973 arose quite unexpectedly. At the time, I was working in the banking sector in my home country, and word began to spread about the tremendous changes happening in Oman under the new leadership of Late His Majesty Sultan Qaboos - may Allah have mercy on his soul. The prospect of being part of such a transformative journey was too good to pass up.

My memories of those early days are vivid. Muscat was a very different place—much quieter with limited infrastructure. There were only a handful of paved roads, and basic amenities were still being developed.

Despite this, there was a palpable sense of optimism and unity. Everyone, Omanis and expatriates alike, were working together towards a common goal: building a new future for the country.

The Blessed Renaissance was not just about physical development, but also about hope and progress. I remember the excitement when new schools, hospitals, and roads were inaugurated.

The leadership was visionary, and there was a strong emphasis on training and empowering Omanis to take on key roles. It was a privilege to witness and contribute to the transformation of Oman during those formative years.

In just over a decade, you embarked on your entrepreneurial journey establishing Nadan Trading L.L.C. in 1984. What encouraged you to establish Nadan Trading?

After spending more than a decade working in Oman’s engineering and contracting sector, I gained a deep understanding of the country’s rapidly evolving market and the needs of its people. The early years of the Blessed Renaissance were marked by tremendous growth, and I witnessed firsthand the increasing demand for

quality products and reliable services across various sectors.

What truly encouraged me to establish Nadan Trading L.L.C. in 1984 was a combination of factors. Firstly, I saw a gap in the market for a company that could provide high-quality goods and services with a strong focus on customer satisfaction and integrity. Secondly, I was inspired by the entrepreneurial spirit that was taking root in Oman at the time, as the government encouraged private sector participation and diversification of the economy.

I also wanted to create something of my own—a business that reflected my values and commitment to excellence.

With the support and encouragement of my former boss and father figure Late Hassan Al Jamali, I took my first leap and founded Nadan Trading. The early days were challengwing, but the trust and relationships I had built over the years helped us establish a solid foundation. Looking back, I am proud that Nadan Trading has contributed, in its own way, to Oman’s ongoing development and prosperity.

Can you give us an overview of Nadan Trading and its growth over the years?

Nadan Trading LLC was established in 1984 as a Trading & Contracting Company with the aim of supporting Oman’s ambitious development plans during a period of rapid national growth. We quickly earned a reputation for reliability, quality, and a customer-centric approach.

Our growth has been driven by a commitment to excellence, strong partnerships with leading international brands, and a dedicated team that shares our vision. We have successfully completed numerous projects for both government and private sector clients, which has helped us build a solid reputation in the market.

Today, Nadan Trading LLC stands as a trusted partner in Oman’s construction and industrial sectors. We continue to invest in our people, technology,

and processes to ensure we deliver the highest standards of service. Our journey from supermarket chains and building material trading firm to an Excellent grade Construction Company is a testament to our adaptability, integrity, and the trust our clients have placed in us over the years.

How has Oman and the growth of its economy contributed to success of Nadan Trading?

Oman’s remarkable economic growth and transformation over the past few decades have played a pivotal role in the success of Nadan Trading LLC. When we started in 1984, Oman was in the midst of the Blessed Renaissance, with the government investing heavily in infrastructure, education, healthcare, and industry. This created a strong demand for quality workmanship and reliable engineering services in which Nadan Trading was well positioned to meet.

Most importantly, the trust and support of our clients, partners, and the wider community have been instrumental. As Oman has grown, so has Nadan Trading, and we are proud to have played a part in the nation’s development. We remain committed to supporting Oman’s vision for the future and contributing to its continued prosperity.

You have been a passionate educationalist over the last 30 years.

Why did you chose education as a focus area for your philanthropic efforts and in what ways have your initiatives made a difference to quality education in India?

Education has always been close to my heart, and I firmly believe it is the most powerful tool for transforming lives and communities. My own journey has shown me the value of education—not just for personal success, but also as a foundation for building a better society.

My father’s last words before he left abode was that he wanted me to start a school in my hometown. Holding on firmly to those words, I started a CBSE school at Kottarakkara in the year 1992, from then on, I used to interact with students and this inculcated a sense of

FACE2FACE

responsibility that the children must receive high quality education facilities at par with international standards.

Now MGM Educational group has spread its wings all over Kerala and it currently has 27 educational institutions of excellence under our banner. The Group has 15 schools and 12 Professional Colleges that includes 5 Pharmacy Colleges, 2 Engineering Colleges, 4 Polytechnic Colleges, and 1 Arts and Science College governed by the MGM Academic board. Over the last 30 years, I have been deeply committed to supporting educational initiatives in Kerala, India, where access to quality education can still be a challenge for many.

I chose education as the focus of my philanthropic efforts because I have seen firsthand how it can empower individuals and open doors to new opportunities. Investing in education is, in my view, the most sustainable way to create lasting positive change.

Through various initiatives, we have worked to improve the quality of education in several ways. We are supporting financially needy students with full scholarships for 300 deserving students every year apart from helping students with a supply of essential learning material and technology for under-resourced schools. We have

also focused on teacher training and capacity building, recognising that welltrained and motivated teachers are key to delivering quality education.

Social work has been another abiding motto of your life and career. In a world where profit seems to be the driving force for most businesses, how important is it for successful entrepreneurs and businesses to give back to society and the community?

Giving back is not just a moral obligation—it is an investment in the future. When businesses contribute to social causes, support education, healthcare, or community development, they help create a more stable, prosperous, and inclusive environment for everyone. This, in turn, benefits businesses as well, by fostering goodwill, trust, and long-term relationships with stakeholders.

For me, social work has always been an integral part of my life and career.

I have seen how even small acts of kindness and support can make a significant difference, especially for those who are less fortunate. As entrepreneurs, we are in a unique position to mobilise resources, inspire others, and drive meaningful change.

I encourage all business leaders to look beyond profits and consider the legacy

they wish to leave behind. By giving back, we not only uplift others but also enrich our own lives and create a sense of purpose that goes far beyond material success. Ultimately, a thriving society and a healthy community are the true foundations of sustainable business growth.

You have had an illustrious legacy.

Looking back, what accounts for your meteoric success and is there any piece of advice that you would like to share with the aspiring professionals, entrepreneurs and students?

If I were to offer any advice to aspiring professionals, entrepreneurs, and students, it would be this: Never stop learning, stay true to your values, and don’t be afraid to dream big. Success is not just about personal achievement, but about how you can contribute to the world around you. Be persistent, work hard, and remember that setbacks are often stepping-stones to greater things.

Most importantly, always act with integrity and compassion. The respect and goodwill you earn from others are far more valuable than any material reward. Give back to your community whenever you can and strive to leave a positive legacy for those who come after you.

Giving back is not just a moral obligation—it is an investment in the future. When businesses contribute to social causes, support education, healthcare, or community development, they help create a more stable, prosperous, and inclusive environment for everyone. This, in turn, benefits businesses as well, by fostering goodwill, trust, and long-term relationships with stakeholders

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INDUSTRY

ENHANCING VALUE R

Medical sector investments in Raysut Industrial City surpass RO55mn

aysut Industrial City, pertaining to the Public Establishment for Industrial Estates “Madayn,” is making significant strides in expanding its medical industries and supplies cluster, marking a significant step toward enhancing health and pharmaceutical security in the Sultanate and meeting the growing demands across local and regional markets. The city is currently finalising contracts for three news projects focused on the production of eye drops, blood bags, and a range of medical supplies. Additionally, a veterinary related facility is currently under development in Raysut Industrial City.

Raysut Industrial City is currently home to three operating projects in the medical sector with a total investment volume surpassing RO55mn. Occupying a combined area exceeding 72,000 sqm, the operating projects are specialised in producing antibiotics, hormones,

topical preparations, effervescent tablets, solid and liquid oral dosage forms, intravenous solutions, dialysis fluids, medical gloves, masks, cotton products, bandages, adhesive tapes, and more.

By attracting and localising investments in the medical sector, Madayn aims at enhancing the

Sultanate’s pharmaceutical security, encourage local and foreign investments in the sector, reduce reliance on imported pharmaceuticals, and boost local production capacity.

These efforts align with Oman Vision 2040 objectives to advance industrial development and achieve selfsufficiency in key sectors.

OPINION

WHAT MAKES CITIES ATTRACTIVE? Attractive cities succeed because they create measurable conditions for both practical living and emotional investment

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ities attract people, businesses and investors through factors that extend far beyond impressive high-rises or advanced transport systems.

What really matters are emotional connections, climate resilience and the granular experiences that define everyday urban life. As Charles Landry, author of The Creative City, observes, cities that treat culture and identity as core infrastructure, not as afterthoughts, create the conditions for trust, belonging and innovation. In these places, residents don’t just live in the city, they co-create it.

By Dave Pender The author is co-founder of Muscat marcomms agency Al Hikayaat and former government advisor on trade and investment promotion.

The Gensler City Pulse Data Points Gensler’s 2025 survey of 33,000 residents across 65 cities shows that while practical factors such as affordable housing (47%) healthcare access (41%) and job opportunities (52%) often draw people to cities, it’s the emotional infrastructure that determines whether they stay. This emotional connection translates into measurable outcomes: cities scoring above 70 on Gensler’s ‘Attachment Index’ retain residents 40% longer than those below the threshold. Singapore leads at 78.2, followed

by Copenhagen at 76.8 and Melbourne at 75.1. Cities with strong attachment scores also enjoy 23% higher property values and 18% greater business formation rates.

Monterrey in Mexico’s recent transformation illustrates this well. The city has attracted US$12.3 billion in nearshoring investments since 2022, but it’s the improvements to public spaces - 450 new pocket parks, 180 km of cycling infrastructure and cultural programs drawing 2.4 million annual participants - have driven a 31% rise in resident satisfaction over three years. Landry would frame these as investments in soft infrastructure, the cultural capital and civic pride that

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anchor communities through change.

Cairo offers another example. Despite ranking only 47th for transport efficiency and 52nd for digital connectivity it scores 73.6 on cultural identity metrics. Residents report emotional attachment levels similar to cities with triple its GDP per capita. Its 15 cultural districts generate US$2.8 billion annually and employ 340,000 people in creative industries, proof, as Landry argues, that cultural vitality isn’t an addon but a core pillar of economic resilience.

Climate Investment While emotional connection anchors residents, climate resilience increasingly attracts investors. C40 Cities research shows that cities with comprehensive climate adaptation plans secure 34% more private investment than those without.

Paris’s US$1.7 billion climate program, launched in 2021, has brought in US$6.8 billion of private capital for green buildings, sustainable transport and renewable energy projects. In 2024, Moody’s upgraded Paris’s credit rating from Aa1 to Aaa, citing climate preparedness as a key factor.

Vancouver’s approach has been equally strategic. Its mandate for net-zero carbon emissions in new developments by 2030 initially met resistance, but now projects there command 12–15% price premiums over those in cities without clear climate policies.

Urbanist Greg Clark, who has advised more than 300 cities worldwide, views such moves as strategic brand positioning, sending a strong signal to talent and capital markets that a city is serious about its long-term competitiveness.

These investments also have multiplier effects.

London’s £4.2 billion Thames Estuary 2100 project has triggered £18.7 billion in private

development in once flood-prone areas of East London. Insurance premiums in protected zones are now 25% lower than in comparable cities. As Clark notes, when governance clarity aligns with climate ambition, it generates a market confidence multiplier - investors see not only safety but opportunity.

Sidebar: Five Urban Factors 1.

Emotional Attachment: Cities scoring above 75 on identity metrics retain residents 40% longer.

Cultural programming investment correlates with attachment at 0.73 coefficient. Monterrey’s cultural budget rose 180% between 2020-24, coinciding with a 31% rise in satisfaction. Urban strategist Svetlana Masjutina stresses that such attachment is often cultivated through deliberate place branding.

Successful cities don’t leave their identity to chance, they align cultural programming, public space design and investment messaging into a coherent narrative that resonates with residents, investors and visitors.

In her view, a strong city brand isn’t a slogan or logo but an ecosystem of signals reflecting a city’s values, ambitions and everyday life.

2.

Vibrant Urban Life: Street-level density of 35– 50 establishments per kilometre drives optimal economic activity. Cities meeting this threshold post business formation rates 28% above regional averages. Copenhagen’s 1,200 new ground-floor activations since 2020 correlate with a 23% boost in tourism revenue.

3.

Climate Resilience: Comprehensive adaptation plans attract 34% more investment and clear net-zero targets command 12–15% property premiums. In 2024, eight of 12 cities implementing major climate programs received credit rating upgrades.

4.

Effective Governance: Transparent planning processes reduce development timelines by an average 18 months. Cities with clear zoning attract 26% more development applications. Singapore’s streamlined approval system processes major projects 40% faster than peers - a hallmark, Clark notes, of globally competitive cities.

5.

Balanced Integration: Cities that combine practical services with emotional connection score 15–20 points higher on retention metrics. In such places, mixed-use developments command an 18% premium over single-use counterparts.

Density as Economic Catalyst Density, when paired with active street life, is another driver of urban competitiveness.

LSE Cities research finds that optimal density - 15,000 - 25,000 people per km² with strong pedestrian infrastructure - delivers productivity gains 28% higher than sprawl.

Hong Kong demonstrates this effect. With 6,777 people per km², it generates US$49,800 GDP per capita. Crucially, its 2,800 street-level retail establishments per km² foster the daily interactions that spark innovation. Patent filings per capita exceed the OECD average by 340%.

New York tells a similar story. Manhattan neighbourhoods with the highest concentrations of ground-floor retail averaging 47 establishments per block - report 31% higher business formation rates and 22% faster employment growth than tower-heavy areas with little street activation. Clark would call this proof that activation is as important as concentration. In brief, density without street life leaves economic potential untapped.

Final Word Attractive cities succeed because they create measurable conditions for both practical living and emotional investment. As Landry argues, these places turn residents into co-creators of the urban story. As Clark reminds us, they also send clear and consistent signals to the global market, building a reputation that draws both talent and capital. And, as Masjutina would add, they communicate their identity intentionally, ensuring the city’s story is lived, experienced and shared by everyone who calls it home.

ECONOMY

COMPETITIVE EDGE

Preparations launched for the second edition of the Suhar Investment Forum under the theme “Suhar: Industrial Investment Destination”

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he organising committee of the Suhar Investment Forum has officially announced the start of preparations for the forthcoming edition of the forum, scheduled to take place on February 4–5, 2026. The theme of the Forum is ‘Suhar: Industrial Investment Destination.’ This step reflects the growing ambition to reinforce Suhar’s position as an advanced industrial hub and a leading investment destination in the region.

The announcement was made during the first meeting of the forum’s organising committee, chaired by Eng. Said bin Ali Al-Abri, Chairman of the Oman Chamber of Commerce and Industry – North Al Batinah Branch.

The meeting included representatives from various public and private sector entities involved in investment and industrial development across the Sultanate.

During the meeting, the committee discussed key focus areas for the upcoming edition, including building on the notable success of the previous forum, which saw wide regional and international participation. The 2024 edition of Suhar Investment Forum led to the signing of multiple Memoranda of Understanding and served as an effective platform for dialogue between investors and decision-makers while presenting promising investment opportunities in North Al Batinah Governorate.

In this context, Eng. Said Al-Abri emphasised that the upcoming forum will highlight the industrial sector as a core pillar for achieving economic diversification. He noted that the forum would serve as a strategic platform for displaying industrial investment opportunities, strengthening publicprivate partnerships, and attracting

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high-value investments in sectors with strong value-added potential. He further highlighted Oman’s competitive advantages that enhance its investment appeal—chief among them being its strategic geographic location linking Asia, Africa, and Europe; advanced infrastructure including integrated ports, airports, and logistics networks; as well as the availability of specialised industrial zones, and well-designed legislative and economic incentives.

He added, “Amid global challenges and rising tax burdens in many markets, the Sultanate stands out as a stable alternative investment destination, particularly with its Free Trade Agreement with the United States, giving Oman-made products a significant competitive edge in both U.S. and global markets.”

The upcoming edition of the forum will target several priority industrial sectors, including – Food, Medical, downstream industries, Aluminum, Recycling industries, Steel and Plastic. This focus aligns with Oman’s goals for industrial diversification and strengthening its investment ecosystem.

Eng. Said Al-Abri confirmed that the forum would present participants with a curated selection of ready-to-execute investment opportunities, developed in coordination with relevant authorities. These projects are viable for immediate implementation, enabling investors to make swift and informed decisions in a clear and facilitative environment.

Investment Destination” – reflects Oman’s strategic direction toward building a competitive industrial ecosystem rooted in innovation, sustainability, and integration with global and regional supply chains.

He stressed that the forum will be a practical working platform that transforms vision into tangible investments and impactful projects.

The committee also addressed the accompanying activities of the forum, which will include high-level panel discussions featuring expert speakers from Oman and abroad, a dedicated exhibition, and a B2B meeting platform to facilitate direct engagement between investors and representatives of government and economic institutions.

The meeting also discussed the forum’s media strategy, which will feature integrated promotional campaigns across traditional and digital media, in addition to the launch of a centralised digital platform for participant registration, interactive engagements, and streamlined access to investment information.

The first edition of the Suhar Investment Forum established itself as a promising economic platform and a strong foundation for a more ambitious and expanded version. The inaugural edition attracted over 800 participants and exhibition visitors highlighted 104 investment opportunities valued at more than OMR 1 billion, and led to the signing of 14-cooperation agreements worth over OMR 115 million.

Eng. Al-Abri pointed out that this year’s forum theme – “Suhar: Industrial

The forum featured distinguished participation from more than 40 speakers representing leading institutions and international consultancy firms, alongside delegations from over 24 countries, and support from more than 25 public and private entities that contributed to the forum’s and exhibition’s success.

The Suhar Investment Forum would present participants with a curated selection of ready-to-execute investment opportunities, developed in coordination with relevant authorities. These projects are viable for immediate implementation, enabling investors to make swift and informed decisions in a clear and facilitative environment

ECONOMY

PROMOTING SYNERGY

OCCI hosts ‘Safe Investment Environment’ meeting with business owners

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he Oman Chamber of Commerce and Industry (OCCI), in partnership with the Public Prosecution, held a meeting recently under the title ‘Safe Investment Environment.’

The meeting aimed to strengthen institutional cooperation and promote synergy through the development of an attractive investment environment rooted in transparency, accountability, and adherence to the rule of law. This initiative comes as part of the ongoing collaboration between the OCCI and the Public Prosecution, and their continued joint dialogue to reinforce partnership and integration.

It supports the objectives of Oman Vision 2040 in enhancing the business climate for the private sector. The meeting was attended by HE Sheikh

Faisal bin Abdullah Al Rawas, Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry, HE Nasr bin Khamis Al Sawai, the Public Prosecutor, along with several board members of the Chamber, business owners and investors, company representatives, and individuals interested in legal and economic affairs.

The focus was on the importance of adhering to good governance principles and promoting transparency as key pillars in building a stable and secure business environment that boosts investor confidence.

HE Sheikh Faisal bin Abdullah Al Rawas stated that the meeting reflects the strategic collaboration between the Chamber and the Public

Prosecution to enhance the legislative and investment environment across Oman’s governorates. The joint dialogue aims to stimulate and attract both local and foreign investment and strengthen investor confidence in the existing economic and legal framework.

For his part, the Public Prosecutor emphasised that the Public Prosecution attaches great importance to fostering partnerships with various institutions to raise legal awareness within the private sector and support efforts to safeguard the business environment from practices that violate the law, thereby achieving justice and maintaining economic stability.

Naif bin Hamad Fadel, Chairman of the OCCI’s Dhofar Branch, noted that the meeting serves as an important platform to strengthen dialogue between the public and private sectors regarding ways to improve the investment climate. He added that Dhofar Governorate is rich in potential across various economic sectors, positioning it as one of Oman’s most promising investment destinations.

Khalfan bin Said Al Maawali, Assistant Public Prosecutor, also delivered a presentation addressing criminal liability under the Commercial Companies Law, as well as a review of the Anti-Money Laundering and Terrorism Financing Law. He outlined compliance mechanisms companies must follow to safeguard the financial and economic system.

The event concluded with a dialogue session featuring HE Nasr bin Khamis Al Sawai and HE Sheikh Faisal bin Abdullah Al Rawas, during which business owners raised legislative challenges facing the private sector and discussed effective solutions to improve the regulatory environment and enhance the investment climate in the Sultanate of Oman.

TECHNOLOGY

SEAMLESS INTEGRATION

Design Group Engineering Consultants utilises Autodesk Revit, a leading BIM software, for all Data Center designs. The company’s expert team manages building designs from concept to construction using a coordinated 3D model

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esign Group Engineering Consultants is a leading expert in mission-critical Data Center design, with a demonstrated record of delivering high-availability, energy-efficient, and future-ready facilities. Our expertise encompasses hyperscale, colocation, enterprise, and modular deployments, ensuring that each solution is customised, resilient, and scalable.

Through an integrated approach that unifies mechanical, electrical, and ICT engineering, we optimise every component from power and cooling infrastructure to network architecture and building layouts, for maximum performance, reliability, and sustainability. Our strength lies in technical excellence, a multidisciplinary design approach, and the use of advanced engineering tools, ensuring that every Data Center is resilient, energy-efficient, scalable, and fully compliant with industry standards such as Uptime Tier III or Tier IV capable. Whether developing a new facility, expanding, or upgrading an existing one, we ensure full alignment with accredited standards and certifications such as TIA-942, Uptime Institute Tier III/Tier IV guideline, and ASHRAE TC 9.9.

Our Approach to Data Center design Proven Multi-Tier Expertise Experienced in delivering Uptime Institute Tier III (Concurrently Maintainable) and Tier IV (FaultTolerant) certified designs.

Comprehensive Lifecycle Services Covering feasibility studies, detailed design, certification support, and operational optimization.

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Mission-Critical Specialization Extensive experience in critical sectors, including financial trading floors, secure defense facilities, continuouscare hospitals, telecom hubs, and hyperscale Data Centers.

Integrated MEP and ICT Design A unified, multidisciplinary team eliminating design silos to achieve seamless system integration and reliability.

Advanced Modelling and Analytics Deployment of CFD, BIM (LOD 300–500), 3D visualizations, VR walk-throughs, and advanced energy simulations to enhance design accuracy and decision-making.

Sustainability-Focused Approach Incorporating renewable energy options, energy recovery systems, innovative cooling strategies, and low PUE methodologies from the feasibility stage.

Operational Efficiency Designs optimized to deliver reduced OPEX, low latency, and high resilience across facility operations.

Core Capabilities Site Selection and Risk Assessment Comprehensive evaluation of locationspecific risks, including climate conditions, seismic activity, utility availability, and political stability.

Regulatory and Standards Compliance Adherence to local and international codes, environmental regulations, and data protection requirements.

Architectural and Structural Design Optimized facility layouts, data hall

planning, security perimeters, and structural resilience.

Tier III and Tier IV Compliant Design Delivering high-availability, concurrently maintainable (Tier III) and fault-tolerant (Tier IV) systems.

Electrical Systems Design of high-voltage intake systems (11kV, 33kV, 132kV), on-site power generation and energy storage solutions, including BESS. Mechanical Systems Advanced cooling solutions (in-row, rear-door, liquid cooling), free cooling, heat recovery, and chiller optimization for improved PUE. ICT and Network Infrastructure Structured cabling, fiber topology, redundant routing, automation systems, DCIM, and SCADA integration.

Fire and Life Safety Systems Fire detection, suppression, evacuation planning, and integration with building management systems.

Advanced Analysis and Modelling CFD airflow simulations, reliability and availability analysis, and energy performance modeling.

Compliance and Certification Support Guidance on Uptime Institute Tier certification and TIA-942 compliance.

Commissioning and Integrated Testing Full commissioning services with end-to-end system integration and performance verification.

Our sustainability-driven designs

reduce carbon emissions, minimize water usage, and deliver measurable OPEX savings over the facility lifecycle.

3D Modelling and BIM Approach Design Group Engineering Consultants uses Autodesk Revit®, a powerful Building Information Modelling (BIM) software for every Data Center design. Our highly experienced team creates and manages building designs from concept to construction with a coordinated 3D model.

Key benefits include: 3D BIM Modelling Quickly create and adjust floor plans and designs in 3D, allowing us and our clients to explore ideas early.

Fast Design Updates Changes to the model automatically update all related views and documents, saving time and eliminating the need for rework.

High-Quality Construction Documents Early detection of clashes and conflicts leads to error-free, clear documentation.

Better Coordination All design and construction teams work together in a single shared model, enhancing communication and collaboration.

Flexible Collaboration Project data is stored in a single file, enabling multiple users to work together seamlessly, even remotely.

Computational Fluid Dynamics (CFD) Design Group Engineering Consultants leverages Computational Fluid Dynamics (CFD) analysis in every Data Center design, accurately simulating airflow, temperature distribution, and heat dissipation before construction. This methodology ensures optimized cooling performance, enhanced energy efficiency, and proactive hotspot prevention throughout the facility’s operational lifecycle.

Key benefits of our CFDdriven approach include:Pre-construction simulation CFD predicts airflow and temperature to assess cooling performance before the facility is built.

Optimized cooling design Detailed analysis of airflow and heat transfer enables efficient thermal management.

Comprehensive modeling Factors such as equipment heat load and air circulation patterns are incorporated for precise results.

Dynamic updates The CFD model is continuously updated to monitor capacity changes and identify potential hotspots.

Lifecycle efficiency Ensures cooling systems remain effective and energy-efficient throughout the Data Center’s life.

End-to-End Project Delivery “We support our clients from concept to commissioning.”

Concept & Schematic Design Align business objectives with optimized technical solutions.

Detailed Design & Tender Documentation Comprehensive IFC drawings, BOQs, and equipment schedules.

Tender & Bid Evaluation Technical assessment, clarifications, and vendor selection.

Construction Support Ensure design intent through site coordination and verification.

Data Center Testing & Commissioning Level 4 and Level 5 testing support for operational readiness.

Handover & Operational Support Smooth transition to operations with full documentation and guidance.

Why Partner with Us? •

Proven expertise in designing Tier III & Tier IV mission-critical infrastructure.

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Single-source responsibility from concept to commissioning.

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Future-ready, scalable, and fully standards-compliant designs.

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Deep understanding of regional authority and certification processes.

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BIM-driven collaboration for reduced risk and faster execution.

In an environment where downtime is not an option, our designs consistently adhere to the highest global standards of redundancy, fault tolerance, and security, while maintaining alignment with project budgetary frameworks.

ENERGY

PIONEERING INITIATIVE

Oman Data Park advances net zero goals with the country’s first green energy data center initiative

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man Data Park (ODP), the Sultanate’s premier provider of managed services, cloud solutions, and advanced cybersecurity, has entered into a strategic partnership with Solar Wadi to launch a transformative solar power project that will generate 1.4 megawatts (MW) of clean energy in its initial phase. A subsequent expansion will add an additional 400 kilowatts (kW) of capacity, reinforcing its commitment to reducing the carbon footprint of its data operations. This pioneering initiative will directly power ODP’s data centers and represents a decisive step toward the establishment of Oman’s first Green Energy Data Center, an ambition that underscores the company’s dedication to sustainable digital infrastructure and its alignment with the nation’s Net Zero targets outlined under Oman Vision 2040.

Speaking on the announcement, Maqbool Al Wahaibi, CEO, Oman Data Park, said, “This initiative is more than an infrastructure upgrade; it is a

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statement of intent about the future of data management in Oman. Integrating large-scale solar power generation into mission-critical facilities marks a turning point in how we approach energy resilience in the digital economy.

By aligning renewable innovation with operational reliability, we are redefining the standards for sustainable cloud and data services, while advancing a technology landscape grounded in environmental responsibility.”

The first phase of the project will see the installation of solar panels in the wadi area and atop the Knowledge Oasis Muscat (KOM) 4 building in Rusayl to capture optimal sunlight and maximise electricity generation. The generated power will be channeled directly into existing electrical panels and switchgear, providing an estimated 1.4 MW of clean energy for ODP’s operations. Phase Two will extend coverage by an additional 400 kW through the installation of solar infrastructure in the facility’s car parking area, further reinforcing ODP’s

renewable energy potential.

In addition to Rusayl, ODP’s upcoming state-of-the-art data center in Firq, Nizwa, has been purpose-built with solar infrastructure integrated into its very foundation. Designed to deliver a total power output of 4.4 MW and to accommodate over 500 racks, with the solar initiative the facility will, from inception, generate an estimated 350 kW of that capacity from clean, solar-powered electricity, thereby advancing ODP’s long-term strategy for environmentally responsible, nextgeneration data services.

By embedding sustainability into its development roadmap, ODP continues to solidify its standing at the forefront of the region’s transition to a green, circular economy. This initiative strengthens the nation’s renewable energy momentum and underscores ODP’s influence in shaping the future of Oman’s technologically advanced, ecoconscious infrastructure.

FUTURE-READY

IGC leading Oman’s Gas transformation: Advancing industry, empowering the nation

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s Oman accelerates its economic diversification under Vision 2040, the Integrated Gas Company (IGC) has emerged as a pivotal force in strengthening the country’s energy backbone—unlocking industrial potential, driving national growth, and securing the future of Oman’s gas value chain.

Since its establishment in late 2022, IGC has transformed the structure and governance of Oman’s gas sector, becoming the exclusive entity responsible for gas aggregation, supply contracts, and allocation across the Sultanate.

Today, IGC oversees the management of over 44 billion cubic meters of natural gas annually balancing domestic industrial demand, power generation, and LNG export commitments with unmatched operational agility and transparency.

A key milestone in this national journey is IGC’s recent approval of a strategic pipeline connecting Fahud to Sohar, with an extension to Ibri.

The 193-kilometre infrastructure is not just a pipeline; it is a symbol of IGC’s future-ready vision—designed to enable industrial zones, empower new economic clusters, and reinforce Oman’s standing as a regional energy hub.

“Gas is more than an energy source— it’s the engine of Oman’s industrial growth,” said Abdul Rahman Al Yahyaei, CEO of IGC. “At IGC, our role goes beyond supply. We are orchestrating a national strategy that ensures every molecule of gas fuels long-term value for our industries, our people, and our economy.”

IGC’s operating model brings

together supply-demand forecasting, transparent allocation systems, and advanced digital tools like Oman’s first spot gas auction platform. These innovations are strengthening gas availability for over 134 end-users across power, petrochemicals, metals, and manufacturing sectors—ensuring no opportunity is missed in turning gas into national gain.

Through strategic projects like the Sohar–Ibri pipeline and its rigorous stakeholder engagement, IGC is fostering confidence in Oman’s industrial capabilities. The pipeline alone will increase the gas network length by 4.5 per cent and serve two high-potential industrial hubs,

catalysing new investments and jobs across value chains.

In parallel, IGC’s role in supporting clean energy transitions is gaining momentum. From transitional gas supply to green steel projects like Vulcan in Duqm to enabling gas-based low-carbon growth, IGC is ensuring that Oman’s energy mix evolves without compromising reliability or resilience. As the exclusive gas shipper and national aggregator, IGC not only administers Oman’s gas but defines its future. With every pipeline built, every contract executed, and every allocation optimised, IGC fuels the ambitions of a nation on the rise.

ENERGY

ACCELERATED PROGRESS Hydrom announces new fiscal incentives to ensure deliveryreadiness of Green Hydrogen projects under third auction round

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ydrom, the orchestrator of Oman’s national Green Hydrogen Strategy, has announced new fiscal incentives designed to enhance the commercial viability of projects that will be awarded through the ongoing third green hydrogen auction round.

The measures represent a targeted response to a market sounding exercise conducted by Hydrom earlier this year and evolving global market dynamics, reaffirming the country’s position as one of the world’s most structured and investment-ready hydrogen ecosystems.

The new incentive includes a 90 per cent reduction in land lease fees during the development stage with potential for further relief during the Front-End Engineering Design (FEED) phase, alongside significant reductions in base royalties during the initial years of production, and Corporate Tax exemptions for up to 10 years. Together, these measures are designed to support early-stage project economics, improve internal rates of return, and facilitate accelerated progress towards final investment decisions.

Eng. Abdulaziz Al Shidhani, Managing Director of Hydrom said, “The global hydrogen landscape is entering a phase of consolidation, with developers prioritising jurisdictions that provide regulatory certainty, strong project 54

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economics, and credible offtake potential. The newly introduced incentives reflect Hydrom’s proactive approach to evolving market dynamics, reaffirming Oman’s position as a delivery-focused, investment-ready destination for large-scale hydrogen development.”

Designed with flexibility, transparency, and scalability at its core, Oman’s third auction round is progressing with strong momentum, offering a land block of up to 300 square kilometers in Duqm and inviting proposals for projects covering a minimum of 100 square kilometers. Bidders have the flexibility in defining their project footprint within the block, enabling tailored configurations that align with individual development strategies and market requirements.

To date, almost 100 registrations have been received from major industry

players and consortia across the green hydrogen value chain. This strong market response underscores a sustained appetite for structured, policy-backed green hydrogen development opportunities. Round 3 continues to attract serious first movers and institutional investors seeking to scale up operations in a competitive and structured environment.

The Statement of Qualification (SoQ) submission window remains open until October 31, 2025, and Hydrom encourages all interested parties to register and submit their documents via the dedicated platform. To support the formation of strong consortia in Round 3, Hydrom will launch an updated consortium matchmaking list, an established tool that has successfully connected qualified participants seeking strategic project partnerships.

AVIATION

FOCUSSED APPROACH

Oman Air achieves over threefold increase in point-to-point traffic as it continues to drive Oman’s tourism growth

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man Air has achieved a landmark milestone with a near threefold increase in point-to-point passengers – rising from 75,000 in June 2024 to 200,000 in June 2025 alone.

Point-to-point traffic - passengers flying directly into Oman rather connecting onwards - now accounts for 58 per cent of the airline’s total flight loads, nearly two times higher than any other GCC airline. The news marks a significant advancement in Oman Air’s strategy to drive inbound tourism into Oman and support national economic goals.

flights, but by ensuring each flight brings more visitors directly to the country. The growth we have achieved is the direct result of careful route planning, targeted marketing, and a network strategy that prioritises stable demand over aspiration. Our approach not only supports national tourism goals, but also drives a stronger revenue performance for the airline, which in turn will enable us to open new routes sustainably. We remain focused on keeping travel to Oman both accessible and attractive, while delivering on our promise to be an engine of Oman’s tourism growth.”

Mike Rutter, Chief Commercial Officer at Oman Air, said, “A core pillar of our strategy is to increase point-to-point traffic; not simply by adding more

Oman Air continues to invest in expanding its route network, fleet modernisation, and service excellence to maintain its leadership in the region

and deliver an exceptional experience for its guests. The airline’s most recent network expansions include Amsterdam, which opens direct access to the high-value Benelux market, and the re-introduction of double-daily flights on its popular London route, starting from October 2025. Meanwhile, as the newest member of the oneworld Alliance, it provides seamless connectivity between Oman and over 700 countries and territories across the globe, including new markets like Japan, Australia and North America. As Oman continues to invest in its tourism infrastructure, Oman Air’s focused approach is playing a crucial role in increasing visitors, generating tourism revenue, and shaping the nation’s appeal on a global stage.

APPLIANCES

INNOVATIVE SOLUTIONS

Panasonic, OMASCO mark 50-year partnership with launch of new EUSeries AC designed for Oman market. An OER Report safeguarding internal components from corrosion and wear, and is engineered to perform even in extreme heat of up to 55°C. In line with Panasonic’s green commitment, the series uses R32 refrigerant, which has a lower environmental impact compared to conventional refrigerants.

“EU-Series air conditioners are another testament to Panasonic’s commitment to health and hygiene, deeply rooted in Japan’s cultural values, and naturally extends to every aspect of our home appliances,” Shibutani added.

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anasonic Marketing Middle East and Africa FZE (PMMAF) and Oman Marketing and Services Company LLC. (OMASCO) celebrated 50-years of trusted partnership, with the debut of Panasonic’s new EU-Series air conditioners in the Oman market at an exclusive launch event held at Hotel Sheraton Oman, Muscat recently.

In line with Panasonic’s renowned global quality standards, the launch of the EU-Series heralds a new era of energy-efficient, eco-friendly cooling solutions built for Oman’s unique climate and living environments.

Speaking at the event, Hiroyuki Shibutani, CEO, PMMAF, said that the EU-Series is built for arid regions, especially Oman’s demanding climate conditions, with many features that make it a durable and sustainable choice. “For five decades, OMASCO and Panasonic have shared a commitment to bringing world-class technology to Omani customers. As we celebrate the partnership, we are also raising the bar yet again, offering another 56

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solution perfectly suited to the needs of households and businesses in the Sultanate.”

The EU-Series combines the brand’s industry-leading air purification and cooling innovations with exceptional durability. At the heart of the range is nanoeX technology, which actively inhibits bacteria, viruses, allergens, and odors, creating a healthier indoor environment for homes and businesses alike. The EU-Series also integrates Adaptive Inverter Technology, ensuring stable temperatures while significantly reducing energy consumption, and Jet Stream Technology, enabling more even cooling that generates a strong, far-reaching airflow that reaches every corner of the room.

Combining these with the Coverti7 feature, EU-Series allows users to adjust cooling capacity across seven different levels to suit room size or specific comfort needs, offering exceptional flexibility and efficiency.

The EU-Series features Shield Blue and ecoTOUGH protective coatings,

Addressing the media at the launch, Navin Batta, Assistant General Manager-OMASCO, said, “For 50 years, OMASCO has proudly partnered with Panasonic to bring innovative solutions to Oman, and today’s launch marks another milestone in that journey. Panasonic remains a true Japanese brand that stands tall in today’s competitive market, setting benchmarks in reliability, performance, and design.

To further reinforce our standing and demonstrate our confidence in the brand, we are delighted to offer a 10-year warranty on all Panasonic AC models. This is not only a testament to the durability of Panasonic technology but also our promise to deliver longterm value and peace of mind to our customers in the Sultanate.”

On the competition from nonbranded brands in Oman, he said that Panasonic brands come with worldclass technology and long-term value and this makes it stay ahead of the competition. The first launch phase will see the EU-Series introduced across Oman from late September to early October 2025, with expansion to other GCC markets planned in the following months.

BILLBOARD National Finance solidifies market position with robust performance in H1 2025 Solidifying its position as the leading finance company in the Sultanate of Oman, National Finance has announced its financial results for the first half of 2025, reflecting a strong performance underpinned by prudent risk management, operational efficiency, and an unwavering focus on long-term stakeholder value. Despite a cautious business climate, the company has continued to chart a resilient growth path driven by disciplined credit policies, an expanding suite of customer-centric financing solutions, and a keen emphasis on inclusive access for retail, corporate and SME segments. Through ongoing product innovation, National Finance remains steadfast in redefining the customer experience and reinforcing its long-term value creation strategy across all verticals.

With the largest regulatory capital base in the country’s finance and leasing sector and a nationwide network of 23 branches, National Finance recorded a 48.52 per cent year-on-year increase in operating profit, reaching RO12.18mn as of June 30, 2025. Profit after tax rose to RO7.02mn, reflecting a 19.83 per cent surge compared to the same period last year, while net investment in leases grew to RO614.62mn, a 6.18 per cent increase since December 2024. This robust financial performance was driven by an uptick in financing activity, enhanced operational productivity, and a targeted lending approach that prioritizes credit quality and sustainable portfolio expansion.

Commenting on the results, Tariq Sulaiman Al Farsi, CEO, National Finance, stated, “At National Finance, our strategy is rooted in creating sustainable value while adapting decisively to an ever-evolving financial landscape.

Our H1 performance reflects not only sound financial stewardship but also a collective institutional drive to serve our stakeholders with foresight and purpose. By aligning our priorities with Oman Vision 2040 and remaining deeply attuned to customer needs, we continue to deliver consistent

results. As we look ahead, our focus will stay anchored in responsible growth, deepening customer trust, and building enduring partnerships that transcend short-term metrics.” Beyond financial achievements, National Finance has continued to strengthen its organisational pillars through a range of strategic initiatives. The company has maintained one of the highest Omanisation rates in the sector at 91.86 per cent, demonstrating its strong alignment with national human capital development goals. Ongoing training programs, employee engagement initiatives, and leadership development pathways are central to fostering a future-ready workforce.

Digital innovation and service excellence remain central to National Finance’s growth strategy, as it leverages technology to streamline operations and enhance customer experiences. The company’s user-friendly mobile app allows customers to apply for financing and calculate installments with ease, while strategically placed self-service kiosks enable on-the-go payments.

Ooredoo drives Smart City vision with advanced indoor 5G test Ooredoo has successfully tested a next-generation indoor 5G solution at Muscat Grand Mall, marking the first-ever deployment of compact 5G indoor radio units in Oman. Achieving download speeds exceeding 1 Gbps, Ooredoo set a new benchmark in Q1 2025 for indoor mobile performance in high-capacity venues.

Dr. Jihad bin Ahmed Al Ansari, Acting Chief Technology and Information Officer at Ooredoo, commented, “This milestone highlights our commitment to bringing innovative connectivity to Oman. By pioneering indoor 5G, we are delivering a future-ready experience that meets the digital needs of our customers while laying the foundation for smarter venues and more connected communities.”

The project was led by Ooredoo technical teams, in close collaboration with building management at Muscat Grand Mall, who facilitated the deployment. The test also leveraged advanced radio technology provided by Ooredoo’s strategic partner, Huawei. Together, the teams delivered a live mall deployment that enhanced end-user experiences with significantly improved indoor speed and coverage, demonstrating the strength of collaboration in advancing digital infrastructure.

This achievement brings Ooredoo’s vision of advancing Oman’s smart city ambitions and modern infrastructure development, in line with the objectives of Oman Vision 2040. By enhancing digital infrastructure in highfootfall environments, Ooredoo is helping businesses and property owners boost user experience, reduce operational complexity, and future-proof their facilities. As the rollout expands to additional locations in Q4 2025, Ooredoo continues to lead Oman’s 5G digital transformation, empowering users with faster, smarter, and more reliable connections wherever they go.

AUTOMOTIVE

DISTINCT IDENTITY The All-New Audi A6 models arrive in the Middle East: One legacy, two powertrains

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he all-new Audi A6 models have officially arrived in the Middle East, introducing two distinct powertrains under one of Audi’s most iconic nameplates.

With more than 30 years of heritage, the A6 has long defined understated performance, executive comfort and refined versatility. Now, with the addition of the A6 e-tron, the model enters a new era: where electric range meets regional relevance. Both models are tailored to meet the expectations of Middle East drivers – from longdistance journeys to daily usability – and reflect Audi’s commitment to intelligent design, engineering and progress.

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Built on Audi’s Premium Platform Combustion (PPC), the all-new A6 is available in Sedan and Avant body styles with power outputs ranging from 150 kW to 270 kW, depending on the variant. Some of the A6 engine variants are equipped with mild hybrid technology that improves fuel efficiency, enhances stop-and-go driving, and supports partially electric propulsion in everyday conditions.

On the road, the A6 model series adapts confidently to both urban and highway driving thanks to adaptive air suspension, all-wheel steering, and quattro ultra all-wheel drive. Whether navigating tight city streets or sweeping desert roads, the

driving experience remains balanced, responsive and composed.

With a newly sculpted exterior and refined proportions, the A6 commands presence while optimising airflow. The A6 Sedan achieves a coefficient of drag (Cd) of 0.23 – the best drag coefficient for a combustion model in Audi history. The Audi A6 e-tron marks the next step in Audi’s electric evolution.

Built on the Premium Platform Electric (PPE), it is offered in three Sportback variants and the high-performance S6 Sportback e-tron. Power outputs range from 240 kW to 405 kW with launch control, depending on configuration.

With up to 756 km of WLTP-tested

range, it currently offers the longest electric range in Audi’s portfolio, making it ideal for long-distance driving without compromise. The sleek Sportback body achieves a drag coefficient of just 0.21, making it the most aerodynamic Audi of all time.

The aerodynamic efficiency plays a critical role in optimising range while also enhancing overall driving smoothness.

Thanks to its 800-volt architecture, the A6 e-tron supports ultra-fast charging up to 270 kW. Drivers can recharge from 10 to 80 percent in just 21 minutes or recover over 300 km of range in 10 minutes – designed to keep up with the pace of regional life. Originally revealed as a concept at Dubai’s Museum of the Future in 2022, the A6 e-tron brings that vision to life in record time – while sharing a common interior DNA with its combustion sibling.

Both models feature Audi’s new human-centric layout, including a curved panoramic display, with 14.5 inches for the driver and 11.9 inches for the front passenger. Material quality and usability are prioritised throughout, with clean lines, tactile controls, and considered touches such as interactive rear OLED taillights, a panoramic glass sunroof, and – in the A6 Avant – a versatile luggage area designed for both daily routines and weekend escapes.

Available technologies include an augmented reality head-up display, communication taillights for enhanced safety and expression, and illuminated Audi rings at the rear – a design statement marking the A6 e-tron’s step into the electric era. Together, these elements create a cabin experience that feels progressive, purposeful, and unmistakably Audi. The A6 e-tron is assembled at Audi’s net carbonneutral Ingolstadt facility, which houses the brand’s in-house PPE battery line. This plant is central to Audi’s commitment to electrify all core segments by 2027.

Rene Koneberg, Managing Director of Audi Middle East, said, “The A6 has long been a cornerstone of Audi’s success in the Middle East as

a model that has earned its place through understated performance, everyday usability, and timeless design. With the arrival of the allnew A6 models and the fully electric A6 e-tron, we are building on that legacy with two distinct yet equally compelling expressions of progress.

One embodies sculpted elegance and dynamic precision, the other signals a bold new chapter in electric mobility. As a brand, our goal is to empower customer choice, offering vehicles that are not only technically advanced, but emotionally resonant and poised for the future.” The Audi A6 e-tron and A6 models are now available to order across the GCC and Jordan. In Lebanon, only the A6 e-tron models will be offered at this time.

AUTO REVIEW

BLENDING ELEGANCE

Powered by a 1.2L Z-series petrol engine and a smooth CVT transmission, the Suzuki Dzire offers impressive fuel efficiency without compromising performance, making it an attractive option for budget-conscious customers.

Oommen John reports

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he all-new 2025 Suzuki Dzire, recently launched in the Oman market, showcases a complete redesign that enhances the compact sedan segment.

The 2025 Dzire features a striking new front grille and LED Crystal Vision headlamps, making it stand out on the road. Aerodynamic enhancements, such as a shark fin antenna and an aero boot lip spoiler, not only enhance its contemporary look but also improve overall performance. This exterior design sets a new benchmark for compact sedans.

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Upon entering the Dzire, one is greeted by a premium atmosphere focused on comfort and convenience.

The GLX variant boasts a 9-inch Smart Display infotainment system that is both intuitive and user-friendly, enabling seamless connectivity.

Additional features like cruise control with steering-mounted controls enhance comfort during long drives, while automatic climate control and rear seat AC vents ensure a pleasant environment for all passengers. The keyless push-start system adds a modern touch. Safety is a top priority for the 2025 Dzire, which is equipped

with six airbags.

The Electronic Stability Program (ESP) enhances vehicle stability and control, and the Tyre Pressure Monitoring System (TPMS) alerts drivers to any tire issues, promoting road safety. ISOFIX mounts enable secure installation of child seats, ensuring family safety.

Powered by a 1.2L Z-series petrol engine paired with a smooth CVT transmission, the Dzire offers impressive fuel efficiency without compromising performance, making

it an attractive option for budgetconscious drivers. With a luggage capacity of 378L, the Dzire is practical for families and individuals, blending a spacious interior with a sleek design. This model beautifully blends elegance, efficiency, and advanced technology.

The 2025 Suzuki Dzire embodies sophistication, smooth performance, and reliability, reflecting Suzuki’s commitment to delivering futureready mobility solutions. The test drive experience highlighted its enhanced features and dynamic driving capabilities, solidifying its position in the compact sedan market.

Overall, the new Dzire is poised to captivate discerning drivers in search of a sophisticated and efficient vehicle.

Key Highlights: •

LED Crystal Vision Headlamps

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Shark Fin Antenna & Aero Boot Lip Spoiler

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9-inch Smart Display (GLX variant)

•

Tyre Pressure Monitoring System (TPMS)

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Cruise Control & Steering-Mounted Controls

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Automatic Climate Control

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Rear Seat AC Vents

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Six Airbags for Enhanced Safety

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378L Luggage Capacity

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Keyless Push-Start System (GLX)

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Front Fog Lamps LED (GLX)

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Leather-Wrapped Steering Wheel (GLX)

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Polished Alloy Wheels (GLX)

AUTO REVIEW

FLAGSHIP FLAIR

The Hongqi H6 doesn’t roll up quietly – it commands the road. A sedan with presence, drama, and flair, it’s determined to be seen, heard, and remembered.

Assistant Editor, Alvin Thomas writes

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immaculately tailored suit that might just have too much shine in the fabric.

It’s a car with theatre built in. Which, when you know the history, makes perfect sense.

This is not a car that politely whispers its presence. No, it strides up to you with the confidence of a diplomat entering a five-star hotel lobby, chin high, chest puffed, and dressed in an

Because Hongqi is not your ordinary brand. It’s China’s oldest luxury marque, founded back in 1958 by FAW Group. And in its early years, you couldn’t just walk into a showroom and buy one. These were cars for the chosen few – ministers, generals, and very important people with red flags on their desks.

here are cars that creep quietly into the world, blending into traffic with the humility of a grey cardigan. And then there are cars that arrive with a brass band, fireworks, and a loud man at the front waving a flag. The Hongqi H6, I’m delighted to say, is firmly in the latter category.

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The CA72 and CA770 models from the 1960s and 70s were basically rolling thrones. They ferried presidents and premiers. They were statecraft on wheels. Then, in the 1980s, production fizzled out. Hongqi disappeared into history, only to be revived in the 1990s, and today it is once again front and centre in China’s push to redefine luxury.

The H6 is part of this story: a midsized sedan that doesn’t just want to compete; it wants to impress. And it does so with all the subtlety of a

factory going hard in full swing.

Now, let me be upfront. I didn’t drive it. I didn’t get the keys and hurl it down a motorway at three in the morning. I didn’t test the 0-100 kph claim of 6.8 seconds. Instead, I spent an afternoon with it in the metal.

I sat in it. I explored every angle. I fiddled with the switches, caressed the claddings, poked the seats, stared at the screens. And in doing so, I think I got to know the H6 in a way that was almost more revealing than a brief thrash around the block. This was a car study, not a joyride. A dissection rather than a binge.

The first impression is impossible to ignore: the front grille. It’s not just big – it’s vast. It dominates the entire front end, shimmering with its elaborate matrix elements, and in the middle stands the pièce de résistance: the Hongqi logo, not merely a badge, but

a luminous, vertical strip that glows at night like a ceremonial sword stuck in the ground. You don’t forget it. You couldn’t forget it if you tried.

is massive: 592 litres. You could fit a family holiday in there, plus the family cat’s accessories, and still have room for a large suitcase.

At night, it must look magnificent, like a scarlet light cutting through the dark, announcing your arrival before anyone can even hear the engine.

It’s dramatic, it’s theatrical, and it’s gloriously unapologetic.

Step inside and things become more clear. The cabin is a spectacle: the two-tone colour scheme feels modern, the design is clean but dramatic, and everywhere you look there’s tech. The 12.6-inch central screen dominates the dashboard, paired with a 12.3-inch digital instrument panel.

Everything looks slick, polished, and just a bit futuristic. Hongqi’s intelligent network system ties it all together, offering enhanced touch controls and personalised navigation. Interact with the car, and it listens.

Walk around the car and the drama mellows into something more posh.

The proportions are solid – 4990mm long, 1880mm wide, 1455mm high, with a 2920mm wheelbase. It has presence, but not the overbearing bulk of an oversized limousine. On the sides, the lines are smooth, almost German-like in their cleanliness, and the optional red Brembo calipers peeking through the 18-inch alloys are a nice touch of performance swagger, like a pair of expensive trainers under that tailored suit.

Then you get to the rear, and Hongqi turns the volume up again. A fullwidth LED light bar sweeps across, the boot lid curls up into a little ducktail spoiler, and the exhausts sit proudly in the centre, not tucked away or hidden behind plastic like so many modern cars. They’re proper dual outlets, hinting at power. The boot, by the way,

Then there’s the fit and finish. Now, I’ve seen plenty of cabins where designers spent all the budget on screens and forgot the rest, but the H6 doesn’t fall into that trap. The way panels meet is tidy and symmetrical, buttons feel reassuringly clicky, there’s a dollop of (real) carbon fibre along the dashboard and door trims, and the cabin as a whole has the kind of polish that makes you stop and run your hand over surfaces you don’t really need to.

Then there’s the atmosphere. The H6 doesn’t give you simple mood

AUTO REVIEW

lighting. No, it gives you 253 colours of ambient light. Two hundred and fifty-three! That’s not mood lighting – that’s an entire discotheque. You can sit in neon pink if you want, or bathe yourself in ocean blue, or glow in radioactive green. Combine that with the 12-speaker Dynaudio system, and the H6 can double as a spa on wheels.The seats themselves are sporty yet indulgent, with massage functions, heating, memory settings, and bolstering that holds you snug without feeling too tight. The flatbottom steering wheel adds a whiff of motorsport, and optional touches like a head-up display and 360-degree cameras remind you this is not an afterthought of a cabin.

Slip into the driver’s seat and the first thing you notice is the comfort. The sports seats don’t just look good, with their sculpted bolsters and contrasting stitching, they feel purpose-built to keep you cradled without ever being harsh.

Long drives wouldn’t be a chore here; the cushioning has that sweet balance of firmness and plushness, the kind that holds you upright while still letting you sink in slightly, like a well-broken-in leather armchair. Even the stitching looks deliberate, neat, and expensive – not the rushed sort of job you sometimes see where the seams start wandering like a distracted schoolchild.

Now, let’s talk numbers. Under the bonnet lives a 2.0-litre turbocharged four-cylinder engine producing 252hp and 380Nms of torque, mated to an 8-speed automatic gearbox. On paper, this sedan will sprint to 100kph in somewhere around 6.8 seconds and keep going until 230kph. That’s impressive. That again, is European territory. That’s faster than anyone really needs in daily life, but it’s the sort of figure that makes brochures and sales pitches sparkle.

And while I didn’t get to put my foot down, the moment the engine came to life it was clear this wasn’t your average turbocharged four-cylinder.

You’d expect a hint of buzz or an eager rasp, but the H6 delivers something altogether more sophisticated. At idle it purrs with the calm confidence of 64

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a much larger unit, and as the revs build, the note stays smooth, rich, and pleasantly refined. It feels measured, mature, almost as if the engine knows its strength and doesn’t need to raise its voice to prove it. In a car that wears its drama so proudly on the outside, this kind of quiet confidence under the bonnet is not just impressive – it’s downright refreshing.

What’s more, it’s efficient. Official consumption sits around 6.6 litres per 100km, which means you could, in theory, have both performance and economy in one package. Eco mode for long motorway cruises, Sport mode for showing off, Comfort mode for Friday afternoons. On higher trims, you even get adjustable suspension damping, which can morph from firm and sporty to soft and cushy at the press of a button. From what I’ve gathered from those who have driven it, the H6 really does have dual personalities.

In Sport mode, the steering tightens, the chassis firms up, and the car feels planted and agile despite its size. Push it into corners, and it holds its line without drama. In Comfort, it turns into a relaxed cruiser, smoothing over potholes and keeping noise to a minimum.

Safety-wise, it’s thoroughly modern: eight airbags, adaptive cruise control, blind spot detection, lane-keeping assist, collision warnings – the whole suite. It’s the sort of kit you’d expect in

any self-respecting luxury sedan today, but it’s reassuring that Hongqi has ticked all the boxes. So where does that leave us? The Hongqi H6 is, in many ways, a car of contradictions. It’s bold, yet classy. It’s luxurious, yet sporty. It’s a car that feels like it’s straining to be taken seriously by the world, and you know what? It deserves to be.

The H6, in my view, drips with character. And character is something many modern sedans sorely lack. Too many cars in this class are polished, perfect, and utterly soulless. The Hongqi H6, by contrast, feels alive. It’s trying things. It’s experimenting with design, with tech, with image. It’s a car that wants to be seen and remembered.

And perhaps that’s the most important thing. Because when you look back at Hongqi’s history, this was never a brand about blending in. It was about standing out, making statements, being the car of presidents and power. Today, in 2025, the H6 is carrying that torch into a new world – not for ministers in Beijing, but for passionate autophiles who want something bold, different, and unapologetic in its flair.

Cars are not meant to be perfect appliances. They’re meant to stir emotions. And the Hongqi H6, for all its quirks, does exactly that. It is a splendid car. And splendid, in the truest sense of the word, is what it was always meant to be.

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