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Leadership excellence
OER’s Most Influential People in Business honours a diverse group of leaders who have achieved extraordinary success through their expertise and accomplishments. Business leaders exhibit distinct leadership styles that play a critical role in their success and the overall performance of their organisations. Strategic leadership is defined by a leader’s ability to have a clear vision for the organisation. Such leaders focus on setting long-term goals and aligning resources to achieve them, ensuring that every aspect of the business works towards a common objective. On the other hand, transformational leadership is marked by the ability to inspire and motivate employees through a compelling vision. Transformational leaders foster a culture of continuous learning and adaptability, encouraging their teams to embrace innovation and personal development. By inspiring employees with a shared vision, these leaders create an environment where team members feel empowered to contribute their ideas, take risks, and pursue excellence. Effective leaders often exemplify a combination of business acumen and social responsibility. They understand that achieving financial success is not solely about profits; it also involves ethical practices and community engagement.
Ultimately, successful leaders are those who can adapt their leadership style based on the situation, the team dynamics, and the organisational goals. They recognise that different contexts may require different approaches, and they are flexible enough to adjust their methods accordingly. This adaptability is essential in today’s fast-paced business environment, where change is constant and the ability to respond effectively can make a significant difference in achieving success.
This distinguished list features individuals who have built vast conglomerates, expanded existing enterprises, or successfully ventured into new markets. Their contributions to Oman’s economy are substantial, driving job creation, enhancing trade, supporting small and mediumsized enterprises (SMEs), and fostering community development. The influence of these leaders is measured not only by their wealth but also by their unwavering commitment to Oman’s progress. Many of them take on roles as policy advisors, actively participate in industry organisations, and engage in honorary capacities—often voluntarily—to give back to their communities. We look forward to adding more remarkable individuals to this distinguished group in the years ahead.
OommenJohn
Oommen John
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INSPIRING LEADERSHIP
Your June cover story on ‘100 Most Influential CEOs in Oman,’ made for an interesting read. The most successful companies are navigated by CEOs who embody a vital trait: an unwavering meticulousness in their attention to detail. These distinguished leaders not only possess a long-term vision aimed at cultivating enduring value but also implement a diverse array of strategies to ensure that no aspect of their enterprise is neglected. They inspire their teams to coalesce around shared objectives, all while demonstrating an impressive agility in adapting to the ever-evolving landscape of market dynamics and the shifting needs of their customers. The influence of these CEOs transcends their immediate leadership roles; it is deeply rooted in their remarkable achievements and transformative capacities. Their success is ultimately derived from their ability to harmonize short-term gains with long-term aspirations, all while remaining steadfast in their core values and overarching vision.
With a profound understanding of critical market trends, these leaders excel in steering their organisations through complex challenges, all the while seizing emerging opportunities for growth. Their proactive mindset, coupled with an unwavering commitment to their mission, serves as a beacon of inspiration for aspiring executives. Recognising the importance of nurturing future leadership, it is essential to invest in the development of youth, equipping them with the skills and confidence necessary to emerge as influential leaders. By doing so, we empower the next generation to elevate our society to new heights in the years to com
Ronald James, MQ
DATA-DRIVEN DECISION MAKING
We are living in a time where gut instinct is no longer enough. Today’s most successful companies are those that rely on data — not just to track performance, but to guide every important decision. From understanding customer behaviour to predicting market trends, data has become the lens through which smart businesses see the road ahead more clearly. But this shift is not just about numbers and dashboards. It is about creating a culture where people at all levels understand the value of insights and use them to solve problems, spark ideas, and make confident choices. When teams are empowered with the right information at the right time, they work smarter — not harder. Of course, becoming a data-driven organisation does not happen overnight. It takes investment in the right tools, training, and most importantly, mindset. But for companies looking to grow with clarity and purpose in an increasingly complex world, building on data is no longer just a competitive edge — it is the foundation for everything that comes next.
Sadaf Al-Zadjali, Muscat
50 MOST INFLUENTIAL LEADERS IN BUSINESS
The
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INTERVIEW THE FREELANCE FIX
Hussain Al Lawati, CEO, Development Bank shares insights on how the Development Bank is adapting lending practices to support Oman’s growing freelance economy and why zero-interest loans might be the key to economic diversification
amid optimism over US-China trade talks
Over 137 countries and territories confirm participation in SPIEF 2025
The St. Petersburg International Economic Forum 2025 (SPIEF) continues to affirm its status as a major global platform for economic dialogue. Till date, representatives of over 137 countries and territories have confirmed their participation in the Forum organised by the Roscongress Foundation
Oman LNG signs LNG optimisation agreement with Vitol Asia
Oman LNG signed an agreement with Vitol Asia Pte. Ltd. to optimise Oman LNG’s LNG supply portfolio, marking another significant step in
improving the design and functionality of over 200 banking services, all aimed at offering a cohesive and integrated user experience that underscores the bank’s dedication to innovation and excellence. Customers can now enjoy a wide range of services, including card encoding through mobile banking, instant account openings for children, and the ability to create secure numbers for debit, credit, and prepaid cards. Other functionalities include opening a “Themar” savings plan account, applying for a prepaid “Shukran” card, making payments via Quick Response (QR) codes, obtaining stamped account
categories. Customers can enjoy greater privacy with the option to show or hide their account balance within the app interface, as well as share essential account details such as name, number, SWIFT, and IBAN. The updated version also includes a customizable control panel with a side menu that highlights customer preferences and frequently used options. This new design is aligned with the growing number of customers utilising the bank’s digital channels, reflecting the bank’s commitment to innovation and excellence in developing internet and mobile banking services as part of its customer-centric vision.
OAB announces increase of authorised capital to RO500mn and paidin capital boost of RO50mn
Oman Arab Bank, one of Oman’s leading financial institutions, announced that its Board of Directors has invited its shareholders to approve an increase in the Bank’s authorised capital from RO200mn to RO500mn. In addition, the Bank will raise its paidin capital by RO50mn through a rights issue to be underwritten by the Bank’s shareholders. This capital enhancement, which remains subject to regulatory approval, will further strengthen the Bank’s capital adequacy ratios, support accelerated growth in retail and corporate lending, and provide a robust platform for continued digitalbanking innovation.
Sulaiman Al Harthi, CEO, Oman Arab Bank, stated, “The proposed increase in authorised and paid-up capital highlights our strong foundations as a brand. With a larger capital base, we can expand our credit to vital economic sectors, invest in the next generation of digital services, and deliver long-term, sustainable value to all stakeholders. This will pave the way for strengthening the bank’s balance sheet, strengthening its Tier 1 capital ratio, and providing the necessary flexibility to weather economic fluctuations.” The paidin capital increase will be executed via a rights issue. Existing shareholders of record as of the bookclosure date (to be announced) will be
Sohar International launches Oman’s first Open Banking Platform
In a landmark 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. “This launch reflects our strong alignment with the Central Bank of Oman’s forward-looking regulatory framework,” said Abdulwahid Mohamed Al Murshidi, CEO, Sohar International. “Through Open Banking, we are not only meeting compliance requirements but also enabling the development of industry-specific financial and non-financial services. These capabilities empower businesses to streamline their operations, drive innovation, and contribute meaningfully to national priorities such as financial inclusion, private sector growth, and digital advancement under
Oman Vision 2040.” By providing secure and compliant access to banking services through open APIs, Sohar International’s Open Banking platform allows fintech companies, corporates, and government entities to build tailored financial solutions with greater agility. The platform aims to lower integration costs, shorten time-to-market, and allow for more customer-centric services to emerge. “At Sohar International, we continue to reinforce our position as a digital leader by accelerating innovation and delivering solutions at speed,” said Sajeel Bashiruddin, Chief Technology and Digital Officer.
“Our commitment to leveraging advanced digital capabilities enables us to respond swiftly to market needs, foster meaningful partnerships, and shape a future-ready financial ecosystem for the Sultanate.” The launch reflects Sohar International’s long-term vision to serve as a strategic partner in Oman’s journey toward a more digital, knowledge-based economy.
Bank Nizwa unlocks new horizons for Fintech with Sharia-Compliant Open Banking Services
In a move that underscores its growing leadership in Sharia-compliant digital banking solutions, Bank Nizwa — the leading and most trusted Islamic bank in the Sultanate of Oman — 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. Commenting on this, Khaled Al Kayed, CEO, Bank Nizwa, stated, “At Bank Nizwa, we see Open Banking as a powerful enabler – one that allows us to push the boundaries of what Islamic banking can offer in today’s fast-moving digital landscape. This initiative reflects our commitment to shaping a future where Sharia-compliant finance converges with cutting-edge digital capabilities, offering our partners and customers unprecedented access to smarter, more personalized financial solutions. It is a continuation of our efforts to make banking more connected, more intuitive, and deeply aligned with the evolving needs of those we serve.” The Open Banking solution has been thoughtfully designed to create value for all stakeholders across the financial ecosystem, delivering enhanced functionality while remaining firmly grounded in the principles of Islamic finance. 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. As Open Banking continues to reshape the financial landscape, Bank Nizwa remains focused on ensuring that the principles of Islamic finance evolve in tandem with these advancements. By championing technologies that foster transparency, adaptability, and greater financial participation, the bank is helping shape a digitally mature ecosystem that is responsive to both present-day needs and future opportunities. This latest initiative reflects Bank Nizwa’s long-term approach where strategic investments in innovation are matched by a deep commitment to purpose-driven growth and lasting impact
NBO named Best Retail Bank in Oman 2025 by MEED’s MENA Banking Excellence Awards
The National Bank of Oman (NBO) has been named as the Best Retail Bank in Oman 2025 at the MEED’s Middle East and North Africa (MENA) Banking Excellence Awards.
The prestigious recognition celebrates the bank’s continuous strive to invest in innovative financial services and solutions that deliver a seamless and enhanced customer experience. Focused on convenience and trust, NBO offers a comprehensive range of retail products and services tailored to meet the diverse needs of its customers – from children and youth to high-networth individuals. These include Private Banking, Sadara Priority Banking, Privilege Banking, alongside Current, Savings and Deposit Accounts. In addition, the bank also provides exclusive lending solutions and a broad selection of Credit, Debit, and Badeel Prepaid Cards. To enhance customer experience, NBO’s award-winning app empowers customers to manage their accounts, payments and transactions digitally. It features account opening services, loan top-ups, as well as bill payments. Through the app, customers can also apply for a credit card digitally through Oman’s first fully digital credit card application facility. With the integration of Electronic Know Your Customer (E-KYC) technology, customers can update personal details while enjoying a fully digital onboarding journey, eliminating the need for physical paperwork or in-person verification. For added convenience, customers can also link their NBO debit and credit cards to Apple Pay, Samsung Wallet, and Garmin Pay, enabling seamless payments across a wide range of mobile devices. To enhance customer satisfaction, NBO’s Rewards Program allows customers to earn, redeem and convert points
on everyday spending using their NBO cards for a variety of options.
NBO’s focus on customer ease extends beyond digital channels to its physical presence across the Sultanate. The bank has introduced several innovations in Oman, including the Eid note dispensing machines, the self-service kiosks and the exclusive ATM and CDM machines that support a wide range of essential banking transactions. Supported by a dedicated team of relationship managers and a robust digital infrastructure, NBO continues to redefine the retail banking experience in Oman. Deeply aligned with Oman’s national vision for a smarter, more digitally empowered future, NBO remains committed to setting new benchmarks in customer experience, financial innovation, and service excellence.
Alizz Islamic Bank launches new Platinum and Infinite Credit Cards from VISA
Alizz Islamic Bank, one of the Sultanate’s leading Islamic banking institutions, has announced the launch of its new Visa Platinum and Infinite credit cards. This strategic initiative aims to offer customers enhanced benefits, exclusive privileges and an enriched lifestyle experience in line with global Islamic banking standards. The new instant issuance credit card suite is designed to cater to the evolving needs of the bank’s customers. Both cards are fully compliant with Shari’a principles and offer a range of world-class features, including access to airport lounges in Muscat International Airport and worldwide, travel insurance and medical coverage, discounts and offers at leading retail and dining outlets. There are no issuance fees for the credit cards and new credit card customers will also have no monthly fee for the first 3 months. All credit cards are based on the Shari’a principle of ‘Qard Hasan,’ which is adopted by numerous leading Islamic banks all over the world and applied to all credit card products.
Touching upon the launch, Khalid Al Hoqani, Head of Transformation at Alizz Islamic Bank said “Following the successful launch of our Visa debit cards, prepaid cards, youth prepaid cards and the first Shari’a compliant multi-currency prepaid card in Oman. We are pleased to now introduce the Visa Platinum and Infinite credit cards that come as part of our continuous efforts to provide innovative Shari’a-compliant financial
aspirations of everyone that banks with Alizz Islamic Bank.” In line with the bank’s vision of ‘Personalising every financial experience through innovative and smart solutions’ Alizz Islamic Bank remains focused on delivering digital-first, customer-centric solutions that adhere to Islamic values and ethics and the new Visa credit cards reinforce this.
STRATEGIC PARTNERSHIP
Sohar International extends RO63mn consolidated loan facility to Liva Group
In line with its commitment to enabling strategic partnerships that support sustainable business growth, Sohar International has signed a consolidated loan agreement with Liva Group, a leading multi-line insurance provider operating across the GCC. The RO63mn facility reflects Sohar International’s growing role as a trusted financial partner for regional corporates seeking to optimise capital structures and scale with resilience.
The signing ceremony took place at Sohar International’s Waterfront Office and was attended by Abdulwahid Mohamed Al Murshidi, CEO, Sohar International, and Martin Rueegg, CEO, Liva Group.
Commenting on the strategic partnership, Abdulwahid Mohamed Al Murshidi stated, “At Sohar International, we are focused on fostering strategic partnerships that create long-term value. Our agreement with Liva Group is a testament to our commitment to supporting ambitious, high-performing organisations with customised financial solutions that drive sustainable growth. This facility not only enhances Liva’s financial flexibility but also reflects our shared commitment for regional progress, innovation, and long-term value creation. We are proud to partner with Liva on its journey to scale, diversify, and lead with purpose.”
The facility consolidates Liva’s existing borrowings into a single, streamlined structure—reducing financing costs, enhancing cash flow management, and increasing agility in capital deployment across the Group’s operations. The agreement also provides a robust financial framework aligned with Liva’s long-term growth strategy, particularly as it expands its presence across key regional markets.
Martin Rueegg added, “This agreement is about more than refinancing; it represents a proactive step in strengthening our capital efficiency and readiness for the future. Sohar International stood out as a strategic partner that understands our operational landscape and shares our ambitions around regional integration, digital innovation, and customer-centric growth.”
This partnership further strengthens Sohar International’s growing regional presence and aligns with its aspirations to support clients expanding into high-growth markets such as the Kingdom of Saudi Arabia—where both institutions share ambitious strategic goals. This partnership further strengthens Sohar
International’s growing regional presence and aligns with its aspirations to support clients expanding into high-growth markets such as the Kingdom of Saudi Arabia.
This collaboration sets the stage for broader financial engagement, including the delivery of advanced, tailored banking solutions that support Liva Group’s evolving priorities across its core markets. By forging such strategic alliances, Sohar International reaffirms its position as a trusted partner of choice—empowering clients to unlock growth opportunities, accelerate regional expansion, and contribute meaningfully to the economic transformation of the wider region.
THE FREELANCE FIX
How Development Bank is adapting lending practices to support Oman’s growing freelance economy and why zero-interest loans might be the key to economic diversification? An OER interview with Hussain Al Lawati, CEO, Development Bank
Financial institutions across the Gulf are facing a challenge, how to serve a workforce that’s rapidly moving from steady employment to project-based work. This transformation is forcing banks to rethink orthodox approaches to income assessment and creditworthiness.
Hussain Al Lawati, CEO, Development Bank understands this evolution firsthand. His institution operates where traditional banking wisdom meets the realities of a freelance economy that refuses to fit into neat lending categories. The bank’s response? Maseera, a zero-interest loan program designed specifically for fulltime freelancers.
Freelancers are increasingly recognised as key contributors to modern economies. How do you see their role evolving in Oman’s business landscape?
Freelancers are changing the game, not just globally, but right here in Oman too. What I admire about this workforce is how they bring specialised skills exactly when businesses need them. It’s like having the right expert at the right moment –this makes companies so much more agile and innovative.
Today, World Bank data estimates 46.7% of workers globally are selfemployed and we’re not just talking about the usual creative fields. We’re seeing IT specialists, consultants, architects, educators, even healthcare professionals choosing this path. This fits perfectly with what Oman Vision 2040 is trying to achieveeconomic diversification and boosting entrepreneurship.
What’s particularly striking is the satisfaction levels we’re seeing. For example, nearly three-quarters of European freelancers say they earn as much as, or more than they once did in full-time jobs. Over three-quarters of U.S. freelancers report being very satisfied with independent work. What’s most telling is that 62% of European independent workers have no interest in changing to in-house roles - and just 10% are actively searching for traditional employment.
Here in our region, momentum is building. The reported market for digital freelancing in the Middle East stands at US$4bn. And according to a recent poll conducted by recruiter Bayt, over 80% of employers plan to hire freelancers while about 89% of respondents hope to do more freelance work themselves. What’s driving all this? People want the flexibility, independence, agency and better worklife balance that freelancing promises. It’s not just about the work, it’s about designing a career that fits their lives, not the other way around. And that’s exactly the kind of dynamic, adaptable workforce that will help Oman thrive in the knowledge economy.
How does Oman’s improved entrepreneurial environment create opportunities for new businesses and financial products like Maseera?
Oman’s entrepreneurial landscape has been transformed. For example, the 2024/25 Global Entrepreneurship Monitor Report shows our National Entrepreneurial Context Index rising from 4.1 in 2021 to 5.7 in 2024, with Oman now ranking 4th globally for Entrepreneurial Education at School and 5th for Ease of Market Entry. For the first time, all 13 key areas affecting entrepreneurship are rated as sufficient or better.
While we’ve built strong educational frameworks and streamlined regulations, access to affordable financing remains a challenge for many freelancers. This gap creates opportunities for innovative financial solutions like Maseera to bridge the divide between our improved infrastructure and practical funding
needs, ensuring good business ideas aren’t limited by traditional financing barriers.
What challenges do Omani freelancers face when accessing finance and how does Development Bank’s Maseera zero-interest loan address these issues?
Omani freelancers face the same financing challenge that affects independent professionals worldwide, their irregular income patterns don’t fit traditional lending criteria. The primary barrier is income verification. Banks want steady paychecks and employment letters but freelancers operate on project-based work where they might land a major contract one month and have a quieter period the next. Even when a freelancer’s annual earnings exceed those of a salaried employee, banks often struggle to evaluate these income patterns.
The requirements become almost insurmountable. Banks typically demand two to three years of business history, collateral worth 120-150% of the loan value and suitable guarantors. For freelancers, these criteria are often impossible to meet. The result is a fundamental mismatch. Financial institutions assess traditional employment patterns while the modern economy increasingly relies on independent professionals who operate outside the conventional boundaries.
This is precisely what Maseera is designed to address. Rather than forcing freelancers into traditional banking structures, we’ve created a solution that acknowledges their reality. Maseera eliminates interest charges altogether, allowing full-time freelancers to access up to RO15,000 (US$38,800) without the usual financial complications. Borrowers repay only what they’ve taken - no interest means every payment reduces the principal, accelerating debt clearance and strengthening credit histories.
Our track record demonstrates genuine demand for this approach. Between 2020-24 we approved 15,826 zero-interest loans worth RO88mn (US$228mn) across every governorate.
In 2024 alone, approvals totaled RO32.6mn (US$84.4mn) a 25% increase over 2023.
The broader context makes this intervention even more important. In the MENA region, while SMEs represent 96% of registered companies and half of employment, they receive only 8% of total bank lending. A Shell Foundation study found that over half of SME funding applications are denied, primarily due to insufficient business history and collateral requirements. For freelancers, these barriers are even more pronounced.
Without accessible financing, talented freelancers can’t invest in better equipment, pursue professional development or scale their operations. They’re forced to rely on personal savings or informal lending which limits their potential. Maseera removes these constraints, allowing freelancers to focus on what they do best - delivering quality work - rather than navigating complex lending requirements that weren’t designed for their business model.
What international evidence is there about the effectiveness of zero-interest lending programs like Maseera, particularly for women entrepreneurs?
This a great question. The UK’s Start Up Loans program nearly tripled the rate of self-employment and start-up activity. Each loan recipient created on average at least one new job, generating over US$60mn in business turnover annually. This matters because SMEs represent about 90% of businesses worldwide and contribute up to 40% of national income in emerging economies.
For women specifically, the impact could be transformational. Women in the MENA region have some of the lowest rates of entrepreneurial activity globally at merely 4%, with 60% relying on savings due to limited access to traditional financing. In fact, the World Bank estimates that closing the gender gap in employment and entrepreneurship could increase global GDP by more than 20%, or US$21.5
them a viable path to access finance and build a business.
How does the freelance economy contribute to economic resilience and what global trends support this growth?
COVID showed us the answer perfectly. The independent work model is like a shock absorber for the economy. When times get tough, businesses can adjust their workforce without the burden of fixed employment costs. Meanwhile, freelancers adapted quickly to remote work and kept critical sectors running.
Internationally, we are seeing rapid expansion. For example, in the U.S., more than one in four knowledge workers now freelance, generating a collective US$1.5 trillion in earnings in 2024. The freelance work platform market is expected to hit US$16.8bn
and advanced digital platforms like Upwork, Fiverr and Freelancer.com make freelancing a global profession. Opportunities that once seemed out of reach are now within grasp, irrespective of where you live in the world. Our role is to help make sure Omani freelancers have the skills, knowledge and financial resources to grab those opportunities.
Beyond financing, how does Development Bank support the broader freelancer ecosystem?
Drawing on our 47 years of serving Oman’s business community, we understand that sustainable economic development requires more than just capital. Throughout nearly five decades, we’ve built deep relationships across every governorate, giving us unique insights into what businesses and entrepreneurs need to succeed in
different regions of the country. This extensive experience has taught us that money alone doesn’t solve everything. That’s why we’re working with a number of public sector partners to offer capacity-building programs, financial literacy training and easier market access. It’s about creating an ecosystem of support that helps Omani freelancers not just access capital, but develop the capabilities to succeed on global platforms like Upwork, Fiverr and Freelancer.com
Our nationwide reach means we can deliver these support services consistently across all regions. Whether you’re a graphic designer in Muscat, a software developer in Salalah or a marketing consultant in Nizwa, you have access to the same quality of support. This comprehensive coverage reflects our fundamental commitment to ensuring no talented professional is left behind simply because of their location – something that’s only possible because of the strong foundation we’ve built over nearly half a century of dedicated service to Oman’s business community.
Looking ahead, how do you see the freelance economy shaping Oman’s future workforce?
This is where things get exciting. Imagine your office being on a beach in Salalah or in a café in Muscat. The old 7:30am – 3:00pm work model is giving way to flexibility, ownership and creative control. AI is of course playing a big role by automating tasks and increasing productivity, allowing independent professionals to focus on creative and high-value work.
Whether you’re a marketer, engineer, data scientist or personal trainer, freelancing has moved from the fringe to the mainstream. By supporting this sector through products like Maseera we’re helping Oman build a workforce that’s adaptable and innovative, one that will accelerate our economic diversification and make us more resilient. This isn’t just another loan product it’s about supporting a paradigm shift in how Oman’s economy operates and competes globally.
BRAND EQUITY
Oman Air and Nation Brand Office forge strategic partnership to elevate Oman’s
In a landmark step to amplify Oman’s presence on the world stage, Oman Air has signed a strategic Memorandum of Understanding (MoU) with the Nation Brand Office, aligning the Sultanate’s national airline with Oman’s flagship promotional brand initiative launched by His Majesty Sultan Haitham bin Tarik earlier this year.
The agreement cements a powerful alliance between two national entities committed to placing Oman’s identity, culture, and values at the forefront of the global travel experience. As one of the first institutions to formally embrace the Oman Promotional Brand, Oman Air will serve as a flagship channel for storytelling, bringing to life the essence of Oman’s Nation Brand through every journey it operates.
brand and our nation’s brand walk hand in hand. We are proud to be one of the key strategic partners of this initiative, and even prouder to be part of the journey shaping how Oman is seen, felt, and remembered around the world.”
“This partnership is more than symbolic, it’s strategic,” said His Highness Dr. Faris bin Turki Al Said, Assistant Professor at Sultan Qaboos University and a member of the Nation Brand Technical Team. “Oman Air represents our first impression to the world. Infusing our national brand across such a visible platform sends a
and the opportunities it offers in tourism, investment, and as a thriving destination overall.”
Con Korfiatis, CEO, Oman Air, added, “We have always carried the soul of Oman across continents from our cabin service to our iconic hospitality. This MoU signals a new chapter, where our
Under the agreement, the Nation Brand Office will work closely with Oman Air to co-develop brand integration initiatives, jointly position Oman in key strategic markets, and unlock new storytelling opportunities. These include immersive workshops, branding alignment across touchpoints, aviation events. This collaboration builds on earlier efforts, such as the wearing of brand brooches by Oman Air spokespersons and logo visibility during key media engagements, now expanding into a more comprehensive and sustained brand activation strategy.
STELLAR GROWTH
The Oman Investment Authority (OIA) has surpassed RO20bn in assets, with profits exceeding RO1.5bn in 2024. An IPO is expected this year as OIA focuses on attracting foreign investment, empowering the private sector, enhancing credit ratings, and maximising local content and innovation. Oommen John reports on OIA’s financial results briefing
As part of its ongoing growth trajectory across its investment portfolios, Oman Investment Authority (OIA) unveiled its 2024 financial results. The report highlighted a rise in its assets to over RO20bn, with profits reaching RO1.585bn. Additionally, OIA injected RO800mn into the state budget, a step that has earned it global ranking as the 8th sovereign wealth fund in terms of five-year investment return rate, according to a report by SWF Global.
To mitigate investment risks and maximise long-term benefits, OIA continued to diversify its investments geographically and sector-wise. Its investments spanned over 50 countries through its three portfolios: the National Development Fund (NDF), the Future Generations Fund, and Future Fund Oman (FFO). Oman-based investments take the largest share of 61.3 per cent, followed by North America with 19.9 per cent, then Europe, Asia, Africa, and Latin America.
Sector-wise, the local portfolio, the NDF, aligned with Oman Vision 2040 targets. The energy sector accounted for 68 per cent of its investments, followed by tourism and real estate at 9 per cent, and services and logistics at 8 per cent each. The remaining share was distributed among strategic sectors such as mining, industry, food, and telecommunications. The NDF invested approximately RO1.9bn in local projects in 2024, surpassing the target of RO1.7bn. Notable projects included the Duqm Refinery in the energy sector, the redevelopment of the Lasil and Al Baydha copper mines in mining, the Asyad Container Terminal in logistics, and the launch of the Manah 1
and Manah 2 solar power plants in the public utilities sector.
Meanwhile, the International Future Generations Fund invested in 13 global funds across diverse sectors, including technology, artificial intelligence, energy, healthcare, and fintech. It also invested in Elon Musk’s xAI, reflecting OIA’s focus on supporting global digital innovation and localising advanced technologies.
Future Fund Oman, which began operations on January 17, 2024, received 294 investment applications in various sectors that align with the economic diversification plans. The fund approved 44 proposals following robust and rigorous assessment standards. Its contributions to these projects totalled RO333.1mn. Key projects included the Sohar PolySilicon plant—the largest outside China with an annual production capacity of 100,000 metric tons—and strategic partnerships with IDG Capital and ewpartners to attract global industrial companies by establishing three investment funds exceeding RO250mn, targeting sectors like ICT, energy, agriculture, renewables, healthcare, and electric vehicles.
OIA continues to deliver on its national agenda, focusing on attracting foreign investment, empowering the private sector, enhancing credit ratings, building national capacities, and maximising local content and innovation. The NDF attracted RO3.348bn in foreign direct investment in 2024, primarily in energy, followed by tourism and mining. In line with its commitment to reducing public debt and ensuring financial sustainability,
OIA repaid over RO1.846bn in the debts of its companies including RO545mn for OQ Group before maturity. Government guarantees were also reduced by RO1.3bn, lowering the total from RO3.4bn in 2023 to RO1.8bn in 2024.
OIA also progressed its divestment program to attract foreign capital and empower the private sector. It exited six assets in 2024, exceeding its target of five, including the highly successful IPO of 25 per cent of OQ Exploration & Production’s total shares, and divestments from OQBI. Proceeds from these successful IPOs were redirected to new projects supporting economic diversification. In its efforts to develop human capital and employment, OIA created 1,393 new jobs for Omanis, raising the Omanisation rate to 77.7 per cent. It also launched training programs like Nomou, Eidaad, and Mu’tamad, alongside the Jadarah platform for employment and training opportunities, scholarship programs, and summer training initiatives in
collaboration with higher education institutions. Local content initiatives saw remarkable progress, with RO265.5mn spent on SMEs in 2024, including RO139mn for Riyada cardholders. SMEs accounted for 19.7 per cent of total supply chain spending. OIA also expanded its local content programs, launching the third edition of its mandatory list, which includes 311 products and services that should be sourced exclusively from local SMEs. OIA also approved 32 scopes under its ring-fencing program with a total of RO71mn, and helped in the development of 38 SMEs with RO11mn.
H.E. Sultan bin Salem Al Habsi, Minister of Finance and Chairman of OIA, stated that OIA continues its impactful local and international performance, directly supporting the national economy by injecting RO800mn into the state budget in 2024, bringing its total contributions since 2016 to over RO7bn. Additionally, RO400 million were allocated to Future Fund Oman, which completed its first year successfully.
H.E. Abdulsalam bin Mohammed Al Murshidi, President of OIA, noted that 2024 marked sustained positive momentum, with most performance targets exceeded, particularly in local content, foreign investment, and job creation. He attributed these achievements to the efforts of OIA’s national talents and people. At the media briefing, it was announced
that one more IPO was likely to be introduced this year and opening up new sectors for investment.
OIA’s 2024 annual report highlights its remarkable progress in achieving its goals and its positive reputation since inception. OIA has forged strategic relationships with other nations, attracting foreign investments to local sectors and building ties with influential global investors like Elon Musk. This resulted in OIA gaining growing trust because of
its transparency with the society, as well as receiving recognition from international institutions such as the World Bank and credit rating agencies, which upgraded the Sultanate of Oman’s rating to prime investment grade after seven years of decline. This trust was further cemented when OIA successfully hosted the largest gathering of sovereign wealth funds in history, with over 300 officials from 46 countries and 50 funds, elevating the accompanying conference to a new level under the title “Muscat Dialogue.”
SHIFTING TRENDS
US dollar, exceptionalism and the global financial reset
To understand global financial markets todaglobal financial markets today, one must acknowledge that asset allocation has become a threedimensional chessboard—or perhaps more accurately, a high-stakes poker game—between three key players: US President Donald Trump, China’s Communist Party General Secretary Xi Jinping, and Federal Reserve Chairman Jerome Powell.
In just six months, The Economist went from calling the U.S. dollar “the envy of the world” to asking “how a Trump dollar crisis would unfold.” And on April 25, 2025, Bank of America made headlines by advising investors to “dump the US dollar while they still can.” In foreign exchange markets driven by momentum, perception can quickly become reality. As technical analysts say, “The trend is your friend”—until it is not. For decades, traditional US-centric portfolio models assumed the dollar and U.S. assets to be risk-free. Gold, not yielding cash flows, was often sidelined. But those models were built on assumptions of American economic stability, legal predictability, and geopolitical dominance. Today, all three are being questioned.
On April 2, 2025, Trump proclaimed “Liberation Day” with the announcement of sweeping new tariffs, declaring an end to “decades of unfair trade practices.” It was positioned as a declaration of U.S. economic independence. But for global investors, it was a declaration of risk. Legendary investor George Soros once said, “I am looking for changes in the rules of the game.” Trump and Senator J.D. Vance appear determined not just to change the rules of global trade—but to rewrite them altogether. That has serious
implications for gold, silver, bitcoin, and even the euro. The notion that the U.S. is the undisputed anchor of global trade is under review. Pension funds, global investors, and central banks— particularly in the Gulf and Asia—are revisiting the assumption that the U.S. dollar is a “risk-free” asset. When fundamental assumptions collapse, capital market dislocations—sometimes known as crashes—often follow.
Bitcoin, once dismissed by most major banks, soared from under $1,000 to nearly $80,000. Ironically, it was the very institutions that dismissed crypto that failed to recognise the shift in investor trust. Meanwhile, silver’s performance, weighed down by its industrial links, diverged from gold, which surged to all-time highs amid global uncertainty.
Investors are now asking: Is the United States still a zero-risk country? HSBC Private Bank once ran a campaign with the tagline: “Assume nothing.” That advice may be more relevant than ever, as the idea of U.S. exceptionalism— and the sanctity of the dollar—faces unprecedented scrutiny. Trump’s tariffs disrupted more than just global stock markets—they rattled the global economic order. Silver, heavily used in solar and electronics, remains economically sensitive and vulnerable to any trade-driven slowdown.
While silver dipped by over 5 per cent in the last month, gold climbed to new highs—up nearly 11 per cent—fuelled by investor demand for a safe haven amid geopolitical and economic stress. Gold’s resilience underscores its role as a store of value. In times of fiscal, geopolitical, and market uncertainty, that demand spikes. And uncertainty, today, is in no short supply.
Meanwhile, China is actively preparing for a post-dollar world. Beijing is ramping up gold accumulation, promoting trade settlement in yuan, and seeking greater influence in global gold pricing. Xi Jinping’s regional diplomatic tour underscores China’s strategy to strengthen non-dollar trade ties across ASEAN and beyond. It is a contrast in symbolism as well as policy: the U.S. dollar still bears George Washington’s image, while the Chinese yuan features Mao Zedong—a reminder that China’s Communist legacy is still firmly imprinted on its currency and policies. Nowhere is the cost of dollar dominance more evident than in Africa. Though the U.S. represents less than 9 per cent of Africa’s trade, over 50 per cent of transactions are still settled in dollars. This disconnect costs the continent over $5 billion annually in conversion fees, exchange risks, and over-reliance on foreign financial infrastructure. The Global South, led by African nations, is beginning to realize that currency independence is not just a political goal—but an economic necessity.
Rainer Michael Preiss Partner & Portfolio Strategist at Das Family Office in Singapore
POWER LIST 2025 50 MOST INFLUENTIAL
PEOPLE IN BUSINESS
OER’s listing of the most influential people in business profiles Omani business leaders, who have left indelible imprints on their businesses and the society at large. The list features people who have built conglomerates, first generation entrepreneurs and inheritors as well as those who are currently at the helm of their respective family-owned businesses
into one of Oman’s leading business houses that serves as a model for young aspiring entrepreneurs today. Sheikh Abdullah’s vision and dedication have fuelled the growth of the group into one of Oman’s most respected corporate enterprises today. As chairman, Sheikh Abdullah continues to provide leadership to the group’s top management in the company’s mission to expand and diversify its business. Today, Al Raid is a well-diversified business house with interests in landscaping and irrigation services, civil maintenance, sports construction facilities, kitchen equipment and catering solutions, carpets, antiques, handicrafts, jewellery, designer watches, perfumes and gifts, and the mainstay real estate business. The Al Raid Group is known for developing shopping, commercial and residential destinations, besides logistics and property management facilities. With over 5 Million Sq. ft. of built up projects and 2 million Sq. ft of projects under construction, the Al Raid group has emerged as a specialist developer of futuristic shopping malls and remarkable leisure destinations, among others, in Oman.
by HE Sheikh Said Bin Ahmed Al Shanfari in 1960, the group has practically mirrored the development of modern Oman, and stands tall today as one of the country’s most dynamic business groups. Led from the front by Dr Adil, the company is headquartered in Muscat, with field operations, manufacturing facilities and offices across the Sultanate. Constantly growing, the group currently has over 25 separate companies and divisions and employs over 2,500 people. The group has emerged as one of Oman’s largest industrial and services conglomerate and a valuable contributor to the development of the nation’s infrastructure. The group’s highly diversified interests span a variety of domains that include roads and infrastructure, tourism, automotive, metal industry, ready mix concrete, aluminum and oil and gas. “There has always been one agenda constant in our endeavours – the growth and development of Oman. I am pleased to say that The Shanfari Group has stayed steadfast to its ideals and along with me, every member of the Shanfari Group starts each day, proud of our contributions to Oman,” says Adil.
has handled senior government positions including being chairman of Muscat Municipality, head of protocol, Diwan of Royal Court, etc. Qurum Business Group is a family-owned business that started with a few investment activities and joint ventures in the 70s. Since 2003, the group marked the beginning of a new era, establishing and expanding its operations beyond the Sultanate through start-ups, acquisitions and partnerships, further rationalising its structure to streamline its operations and introduce state-of-the-art management and reporting systems to add more value to all clients. QBG has grown to a family of over 7,000 employees and brings bespoke management expertise, local knowledge and targeted investment services to a range of business sectors. The company’s diverse portfolio includes facilities management, construction and engineering, marine surveys, landscaping, staffing solutions and financial services, as well as a number of joint ventures, associations and partnerships with leading organisations across the globe.
Ajit Khimji
Chairman Ajit Khimji Group
Legacy of trust
Ajit Khimji is the chairman of Ajit Khimji Group, a renowned conglomerate based in the Sultanate of Oman with diversified business interests. The Group’s core activities include investments, luxury watches and jewellery retail and is also engaged in diversified retail and project led activities facilitated through the Asha Group, its 100 per cent subsidiary and through joint ventures with international institutions. Ajit Khimji Group is a legacy of trust, enterprise and quality and the Group’s history in the Sultanate of Oman can be traced back to over 150 years. Led from the front by the illustrious Chairman Ajit G. Khimji, the Group’s hallmark is its relentless quest for perfection, dedication to quality and fostering an environment that nurtures individual and team excellence. The Group’s operations are strengthened by highly qualified and experienced professionals, who lend their individual and collective skills to fulfil the Group’s objectives.
Akber Mustafa Sultan
Vice Chairman Mustafa Sultan Enterprises
Committed to excellence
Akber Mustafa Abdulredha Sultan is the vice chairman of Mustafa Sultan Enterprises since February 2012. Akber secured his BSC in business administration from California State University, Sacramento (2008) and also completed his Master’s in Diplomacy from Norwich University – USA in 2008. He began his career in Mustafa & Jawad Trading Company as a distribution manager in one of its subsidiary – Capital Stores in June 1987. He became the director of Mustafa Jawad Trading Company in the corporate office in 1990. In the year 1999, he became the managing director of Mustafa Sultan Enterprises Co. The group has a glorious entrepreneurial history spurred by the dreams and ambitions of late Mustafa A Sultan, father of Akber and the architect of 11 companies under the umbrella of Mustafa Sultan Enterprises. The company today has diversified interests and is organised into various subsidiaries, each an achiever, each an example of commitment to the highest ethical and professional standards. The group’s business interests are as diversified as consumer electronics, security and communications, medical and industrial equipment, consumer and industrial lighting, telecommunications and VSAT, information technology, office equipment, defense equipment, restaurants, money exchange, insurance, real estate, entertainment, airconditioning, and logistics to name a few.
Ali Malallah Al Lawati
Chairman Al Habib & Co.
Leveraging expertise
Ali Malallah Ali Habib Al Lawati is one of the leading entrepreneurs in Oman particularly in the area of housing development and real estate. As founder of Al Habib & Co in 1978, he has played a leading role in the development of real estate and has since diversified in to a range of companies involved in retail businesses, financial services business as well as industrial enterprises. He has held board level positions in a number of companies and played a significant role in the development of such enterprises from time to time. In the government arena, he was a board member and honorary treasurer for the Oman Chamber of Commerce and Industry for a period of six years in addition to holding many senior level positions in the chamber of commerce. Ali Malallah is an MBA from the University of Hull, UK. Recognised as one of the leading property developers in Oman, Al Habib leverages its broad expertise of the property market to build a varied portfolio of development projects and investment assets, spanning the commercial, residential, retail, hospitality and mixed-use property sectors. Over the past four decades, the company has grown to be one of the leading interior decorations and fit-outs contractors in Oman for notable commercial and retail projects.
of its customers. From a modest showroom in the port town of Muttrah, the group has developed into a world-class conglomerate with wide and varied interests in many areas of operations. The group has diversified into all facets of Oman’s modern economy. Its prowess extends from automobiles, hi-tech electronics, global trade and services, tourism and travel, insurance services and real estate domains. In each of these areas, the combined forces of professionalism, customer focus and commitment are the pillars of the group’s success. “Recognising the responsibility on the shoulders of each member, we endeavour to be one of the most competitive companies in the industry with emphasis on efficiency in operations, reliability for customers and thrust on growth, in all sectors of our diversified operations. It is these values that broke new ground for us more than four decades ago. It is these values that power our present growth. And it is these values that speed our paths to the future,” says Sheikh Al Muhannad.
Amal Suhail Bahwan
Vice Chairperson
Suhail Bahwan Group
Transforming business
As the vice chairperson of Suhail Bahwan Group as well as the daughter of the group’s founder and entrepreneur extraordinaire Sheikh Suhail Salim Bahwan, Amal Suhail Bahwan is very much at the sharp end of one of Oman’s largest business houses, whose turnover runs into billions of dollars. Having received an undergraduate degree and an MBA from the University of Sultan Qaboos, Amal has put her heart and soul into the family business and helped transform its fortunes and successfully steer it into the 21st century through best management practices and innovative ways of doing business. She has been the driving force behind restructuring the group’s businesses into several sectors and companies. Amal’s success was not handed to her on a silver platter. Rather, it was her drive to “reach for the sky” and defy the stereotype that inspired her to seize the moment and create her own destiny in a male-dominated corporate world. She is also currently the Chairperson of the Board of Directors of National Bank of Oman (NBO). As one of the largest and most professionally managed business organisations in the Middle East, Suhail Bahwan Group’s diversified businesses cover almost every aspect of people’s lives - from automobiles, electronics, computers, travel, lifestyle and healthcare to agriculture, construction, engineering, information technology, manufacturing, oil and gas services and telecommunications - thus helping customers realise their dreams and aspirations to lead a quality life.
entertainment, travel and tourism, logistics, marine and electronics. He has also been instrumental in the many achievements of the organisation and continues to inspire its success. Besides being on the Board of OHI SAOC, he has also been on the boards of Computer Stationery Industry SAOG (Oman Printers), National Hospitality Institute SAOG (NHI Oman), Douglas OHI, Oman Hotels & Tourism Company (OHTC), and Al Kamil Power Company. Ammar is a Business Management Graduate from Westminster University, UK.
Tours, Jawad Sultan Restaurants, Capital Store and Oman Arab Cinema Company etc. Since the beginning, the Jawad Sultan family has been actively involved in the growth of the Sultanate and the success of the group is also a reflection of the magnificent achievements of the Sultanate. One of the main strengths of the group is its commitment to developing a corporate culture that respects the needs, skills and qualities of its diverse employee profile.
has steered the organisation to the heights of success. She is actively involved in the decisionmaking process, charting business strategies and operational plans that align business objectives with corporate goals. She has been the recipient of numerous awards over the years, which substantiate her as an exceptional achiever and as a strong role model for other women. She was ranked 23rd in Forbes Middle East’s 50 Most Powerful Businesswomen List for 2022. She was also listed in the Arabian Business Most Influential Arabs 2022 for the 2nd consecutive year. She is a firm supporter of women in business and feels that the women today are constantly taking new steps and doing things differently to carve a niche for themselves.
The company makes a vital contribution to the health and wellbeing of the people of Oman by making available a broad spectrum of pharmaceuticals and other healthcare products. These products range from simple vitamins to anti-cancer drugs. The company offers its products through a network of its pharmacies and retail outlets, as well as through medical representatives. It serves a wide range of clients in the public and private sector, including the Ministry of Health, the Ministry of Defence, police hospitals and university hospitals, oil companies, oil refineries and the in-house clinics and hospitals of port authorities.
A modern architect of transformation and progress, Devaki Gulabsi Khimji has redefined leadership at Al Tasnim Group through a bold blend of innovation, purpose-driven strategy, and operational excellence. Since joining the Group in 2012, she has played a pivotal role in elevating its performance, expanding its footprint, and future-proofing its operations. At the helm as Managing Director, Devaki has been instrumental in driving structural reforms across the Group — from streamlining business processes to enhancing administrative frameworks, with a strong focus on technologydriven transformation. Recognising the importance of future-readiness, she has championed the integration of AI and digital tools into essential functions — particularly Health, Safety, and Environment (HSE) — resulting in measurable gains in productivity, motivation, and performance tracking. Flagship initiatives such as the Integrated Logistics Management System (iLMS) and HR digitisation reflect her commitment to building a more agile, accountable, and people-focused organisation. Equally invested in purpose as in performance, Devaki has championed programs that have fostered a nurturing ecosystem for talent development, employee wellbeing, and community upliftment — aligning business goals with social impact. Her people-first philosophy has helped strengthen internal culture while building enduring relationships with clients, partners, and communities.
Scaling new heights
Hamed bin Mansoor bin Ali al Sulaimi is the chairman of Al Sulaimi Group. The group, which started as a family proprietary business, over half a century ago, was scaled up into a corporate entity in 1970. Over the years, the company saw prodigious progression through strategic planning, technical enhancement and proficient management. Al Sulaimi Group Holding manages a wide and diversified spectrum of companies involved in services to Oil & Gas sector, supply of various engineering & industrial products, facilities management, operations & maintenance of various water related projects, diversified engineering & contracting services and other businesses key to national development. Al Sulaimi Group Holding offers a diverse range of services to its clients in Oman, UAE and the kingdom of Saudi Arabia. Since its inception, the group has been working with different foreign and local partners from many sectors, forging joint ventures and investment opportunities thereby contributing to the economic development.
knowledge and experience in financial, investment and business management. He started his career working in investment banking in Geneva and then moved to Morgan Grenfell Bank in London before joining OMINVEST in Oman. He holds the position of Chairman of the Fund for Development of Youth Projects (Sharakah), and Vice-Chairman of Alizz Islamic Bank, National Finance Company and National College of Automotive Technology. Furthermore, he is Chairman of the Oman Switzerland Friendship Association. He previously held the position of Chairman at OMINVEST and served on the Boards of Oman Arab Bank, Commercial Bank of Oman, Muscat Finance Company and FINCORP. He was also Board Member for the National Training Fund and a Member of the Advisory Committee for the National CEO Programme. Al Zubair was nominated by the Government to represent the private sector on the Boards of Government-owned Hotels. He represented the Oman Chamber of Commerce & Industry as a member of the team for meetings of the Indian Ocean Rim – Association for Regional Co-operation and also served on the regional board of the Young Arab Leaders. Hani holds a Bachelor’s Degree in Mathematical Sciences and Computer Science from Richmond University, UK. He is also a keen sportsman. The Zubair Automotive Group has kept pace with the development of the Sultanate throughout these years, to become one of the largest vehicle distributors in the country today.
Chairman Al Sulaimi Group
Analytics, Digital Experience and Digital Supply Chain Management, and has delivered solutions in 20 countries across North America, the Middle East, Far East, Africa and Asia. Hind is involved in and has served on the boards of a variety of public and private organisations. She is a member of the Middle Centre Advisory Board of the London School of Economics, a member of the Middle East Advisory Board of Coutts & Co., and a board member of the Family Business Network (FBN) for GCC. She was ranked 38th in the Forbes Middle East’s Power Businesswomen List for 2021. Hind is a recipient of many honours including Ernst & Young’s ‘Oman’s Young Entrepreneur of the Year 2000’, Arabian Business ‘e-Achiever of the Year’ award from HH Sheikh Mohammed Bin Rasheed in 2001, ‘IT Women of the Year 2002’ award by UNDP, ‘Global Leaders for Tomorrow’ award by the World Economic Forum in 2003, ‘Global Young Leader’ by the World Economic Forum in 2007 and ‘Woman of Power Award’ by Asian Business Leadership Forum in 2011. Bahwan is a graduate in computer science, a Harvard Business School alumna and a Kellogg School of Management Executive Scholar in leadership and management. In February 2019, Hind received Chevalier de l’odre national de la legion d’honneur award from the Ambassador of France in Oman.
business development; he oversees the Group’s strategic direction and continual growth. He has also chaired Oman Real Estate Association in the past and has acted as a Mentor in the Public Authority for SME Development (Riyada). He is also a member of the Entrepreneurs Organisation, as well as a Member of the International Real Estate Federation for Arab Countries (FIABCI). Additionally, he was awarded Business Leader of the Year of 2018 and was recently featured in the 100 Most Powerful CEOs-2023.
the company has evolved into a formidable entity, renowned for its exceptional team of professionals across various sectors. In addition to his role at Ahmed Mohsin Trading LLC, Mohsin also oversees Damos Trading & Contracting Co. LLC in Salalah and Al Maha Building Material LLC in Sohar, demonstrating his adept management across multiple ventures. His strategic management has been vital in enhancing the company’s market share through targeted expansion initiatives and the integration of internationally esteemed brands. Mohsin holds a Bachelor’s degree in Business Administration from Bryant College, Rhode Island, USA
Imad Kamal Abdul
Redha Sultan
Vice Chairman and Managing Director Towell Group of Companies
Impactful visionary
Imad Kamal Sultan is the Vice Chairman and Managing Director of Towell Group of Companies and Chairman of the Executive Committee of the Group. He joined the family business in 1995. He is also a Director at Oman Arab Bank SAOG., Vice Chairman and Member of the Executive Committee and Audit Committee at Muscat Stock Exchange. Imad also served as a Director on the Boards of Savannah Resources PLC, National Bank of Oman, Oman International Development and Investment Company (Ominvest), National Hospitality Institute, Oman Tennis Association and the Public Authority for Investment Promotion and Export Development (Ithraa) among others. Imad holds a Bachelor of Science in Business Administration degree in marketing from the American University in Washington DC, USA and has been a member of the Young Presidents Organisation since 2005.
Sayyid Khalid Al Busaidi is the chairman of SABCO Group, one of Oman’s large business entities. Sabco Group is home to over 20 companies, including Amouage, one of the world’s well-known niche fragrance and luxury brands. Known to have diversified interests, responsibilities and talents, Al Busaidi is, however, best known for his role as chairman of the Oman Football Association (OFA) from 2007 to 2016. His vision to improve Oman Football to much higher standards was rewarded when Oman won the 19th Gulf Cup tournament. After completing his secondary school education from the Sultan’s Special School in Seeb in year 1982, Sayyid Khalid moved to the UK to continue his undergraduate studies in social sciences at Oxford University which he successfully completed by the year 1986. He also secured an MBA in strategic management from Henley in the UK in 1997. He attended several leadership and management training courses in the Sultanate, the UK and the US. In January 2009, he was awarded ‘Oman Civil Award’ as a recognition for ‘his excellent service in his duties.’ SABCO Group is a leading business group that has a recognised contribution to the commercial, economic and social development of Oman whilst bringing the latest international products and services to the country. From representing conglomerates for infrastructure development to starting the first mall in the Sultanate, from the manufacturing of exclusive perfumes to the bottling of mineral water, it embarks on new challenges that add value to its strategic growth areas.
of Liva Group SAOG, INJAZ Oman, a non-profit organisation that promotes entrepreneurship amongst students and Honorary Chairman of the Arab Swimming Federation. Since 1991, Khalid has held a number of senior executive positions, including Managing Director of the Zubair Corporation LLC, a large diversified multinational conglomerate with operations across the GCC and beyond. He has spearheaded several CSR initiatives, including the establishment of Zubair Small Enterprise Centre (Zubair SEC) that supports, nurtures and develops the abilities and skills of Omani entrepreneurs. Khalid remains deeply committed to CSR activities at OMINVEST.
Khalid has a Bachelor of Science Degree in Business Administration from the University of Arizona. He is also a graduate of the advanced transformative Owner / President Management Program (OPM) at Harvard Business School and has participated in advanced management programs at other elite institutions, including London Business School. Khalid has held key positions in trade, business and sport bodies (including Chairman of the Oman Olympic Committee, member of the International Olympic Committee, and Vice Chairman of the Oman Chamber of Commerce and Industry).
consumer products, food distribution, travel, insurance, as well as the healthcare sector. With its headquarters in Muscat, Assarain is a multi-million-dollar international organisation and has entered into strategic collaborations with many other global leading companies. Khalid has a degree in business administration: international business and majored in arts & political science both through Pacific Lutheran University, Tacoma, Washington, US. He also serves as chairman at Al-Omaniya Financial Services and vice chairman of National Gas Co.
Reserves, Food Security Committee, Oman Wastewater Services Co (Haya Water), Businessmen’s Council, Oman Air, Oman National Electric Co, Al Jazeera Tube Mills, and Public Authority for Investment Promotion and Export Development, among others. Since its establishment over almost 100 years ago, AlKhonji Group is always committed to its founding principles of excellence through innovation, teamwork and the creation of sustainable solutions.
of cybersecurity awareness and resilience in Oman, positioning Securado as a key player in the nation’s digital transformation journey.
Companies, which he established in 1975. Al Ansari has evolved into a group of companies in various industries and established in multiple regions of Oman, UAE, Saudi Arabia, Qatar and India. Al Ansari Group of Companies are engaged in business activities such as supply and installation of commercial kitchen and laundry equipments, heating and ventilation works, swimming pool and water feature works, supply and installation of sanitary wares, water heaters, engineering products and services, ELV systems, generators - pump sets and water tanks for commercial usage, raised floorings, water treatment projects, sewage treatment projects, modular building solutions, industrial printing and steel fabrication as well as facilities management services. Al Ansari has completed many prestigious projects for government and private sectors in Muscat.
Kiran Asher has over the years been an achiever par excellence, a composite philanthropist, and a supporter of social causes, which extends beyond nationalities. His commitment to society at large and his capacity to bridge barriers between communities have made him a leader who is looked up to.
Honourable Lujaina Mohsin Darwish
Chairperson, Infrastructure, Technology, Industrial and Consumer Solutions (ITICS) MHD LLC
Honourable Lujaina Mohsin Darwish is the Chairperson of Infrastructure, Technology, Industrial and Consumer Solutions (ITICS), Mohsin Haider Darwish LLC. A graduate in English Literature from Sultan Qaboos University (SQU), she began her career as a lecturer at SQU, before joining the family business. She presides with elan over a hugely varied group of businesses ranging from technology to consumer durables to Industrial solutions. With the strength of the legacy inherited from her late father, Mohsin Haider Darwish, and guided by his philosophy of “people first,” she brings a humane dimension to the nitty-gritty of managing a large, diversified business. She was elected to the country’s consultative council - Majlis A’ Shura, one of only seven women to be elected since its inception, and holds the distinction of having been elected twice to this honorary position from the Wilayat of Muscat, and since 2015, as a member of the upper chamber, Majlis A’Dawla (State Council) being appointed by Royal Decree. As a board member of the the Oman Football Association, Oman Olympic Committee and Chairperson of the Women’s Football Committee, she has worked tirelessly to lay a sustainable foundation for women’s sports in the Sultanate. A business leader par excellence, Honourable Lujaina was ranked “23rd amongst the top 50 most powerful businesswomen” by Forbes Middle East in 2022. She is the first Omani to receive a fellowship from the Royal Society of Arts, UK. She also was the recipient of The Diamond Executive’s Award and Leadership Medal from the Harvard Business Council 2020 International Awards and Women of the year 2020 by International Business Stevie Awards.
Majid Salim Said Hamed
Galfar Engineering & Contracting
Setting standards
Majid Salim Said Hamed Al Fannah Al Araimi is the chairman of Galfar Engineering and Contracting, one of the largest, multi-disciplined engineering, contracting and construction company in the Sultanate. Majid became the chairman of the company, succeeding his father Sheikh Salim Al Fannah, the founder of the company. Established in the year 1972 and converted to a public joint stock company in 2007, Galfar has today grown into one of the largest construction companies in the Middle East with a turnover of over $1bn. Offering services spanning a wide range of engineering fields such as oil and gas, sewage systems, marine structures, building constructions, power and water, roads and bridges and industrial and civil infrastructure, Galfar is the preferred choice of many clients because of its reliability and commitment to quality and safety. The company has attained prominence as a leader in construction and engineering through competence, competitiveness and timely delivery with highest quality standards and recognised safety performance.
was established in Muscat as a British company in 1866 and was acquired by Jawad’s family in 1914. Throughout the years, the Towell business has managed to survive through difficult times and even expanded in different sectors. After World War II the company established branches in Kuwait, Iraq and Dubai. Towell Group of Companies is today one of the largest companies in the Sultanate and comprises seven clusters with members of the board from the fourth and the fifth generation of the Sultan family. The clusters are enhance, engineering, construction, property, services and trade, consumer product division (CPD) and automotive. While family owned, the group enjoys a corporate form of management that delegates authority. Real estate is one of the group’s core businesses and major assets and many of extensive properties hold valuable redevelopment potential. Time-honoured business international business affiliations paved the way for the company’s expansion into motor vehicle, contracting and consumer goods industries. As a leading consumer good distributor, WJ Towell promotes locally manufactured products through a distribution network that extends throughout the region. W J Towell also extends its activities to new areas, particularly industry, by investing in associated companies. Additionally, the group helps facilitate foreign direct investment and imports skills and technology that support the company and national economy.
a doctorate in economic development from the University of London and an MSc from Bristol University. During his remarkable career, Dr Mohamed headed some of the most prestigious organisations and business bodies in Oman and the GCC region. He worked for the government in a number of capacities such as director general of treasury and accounts, secretary general of the development council, and the minister of state for development affairs; and oversaw many important developments in Oman, such as the five-year plans and the long-term plan ‘Oman 2020.’ He has authored a book titled ‘From Underdevelopment to Sustainable Development: The Role of State and Market in Oman, 1970-2010’. The book is an overview of the economic changes in the country since late His Majesty Sultan Qaboos bin Said came to power. The AYG commenced operations in October, 1977. As of date, AYG is a diversified investment holding company with operations covering a broad spectrum of activities including financial services, oil and gas, real estate development, telecommunications, trading and services.
Zubair Corporation, one of the leading business groups in Oman. The success of The Zubair Corporation is largely based on his vision. After his first job at Petroleum Development Oman, Dr Mohammed established Oman’s first registered company in 1967. Since then, his company, Muscat Trading Company has developed into one of the leading business conglomerates in the region, changing its name to The Zubair Enterprises in 1973. Today, his seven children are the shareholders of The Zubair Corporation, heading six divisions comprising nearly 60 companies. Since 1984, Dr Mohammad was the advisor for Economic Planning Affairs to the late His Majesty Sultan Qaboos bin Said. Other positions held by him include Minister of Commerce and Industry, a position to which he was appointed in 1974, and President of Sultan Qaboos University, a position that he occupied between 1997 and 2001. His values, traditions and entrepreneurial spirit were in turn influenced by his grandfather Sheikh Ali bin Jumah, close advisor to three Sultans, and his father Sheikh Al Zubair bin Ali, who served under three Sultans and was Al Katib Al Awwal (First Clerk) to His Majesty Sultan Faisal bin Turki.
Pivotal role
Dr. Mohammed Al Barwani is the founder and Chairman of MB LLC (Mohammed al Barwani LLC), a multinational group of companies with operations and subsidiaries in more than 20 countries across the globe in the Middle East, Europe, Africa, South Asia and Australia. The company was first established in 1982 as MB Trading. The main activities of subsidiary companies within MB LLC include exploration and production of oil and gas, integrated drilling & oilfield services, marine engineering, mining and mineral ore exploration and production, manufacturing and trading, real estate development, and investments. The company’s phenomenal march ahead has been made possible due to its commitment to high standards of health, safety and environment protection and the strong support of its customers.
Dr Al Barwani is on the board of Al Madina Takaful SAOG and Watania Takaful (Abu Dhabi), and was chosen to be the Chairman of Oman Air. Currently, Dr. Al Barwani serves as the honorary consul of Monaco for Oman. In 2022, Dr. Al Barwani received the Royal Order of Commendation, Second Class in Oman for his effective societal contributions.
award ceremony held at the Imperial Palace in Tokyo, in May 2018. The prestigious honour is in recognition of the substantial contributions made by Sheikh Mohammed towards promoting bilateral cultural relations and mutual understanding between the two great nations. Sheikh Mohammed is also the chairman of the Oman Japan Friendship Association (OJFA) playing a vital role towards enhancing ties between the two great nations. In 2016, Sheikh Mohammed received on behalf of the group the prestigious Japanese Foreign Minister’s Commendation and Toyota Excellence Awards. Saud Bahwan is one of Oman’s largest business conglomerates with diversified business interests. The group has come a long way from a humble trading house to a respected business group with an established presence in fields like automotive and allied businesses; heavy vehicles; construction equipment; turnkey projects; oil and gas; special equipment; municipal and civic services; property and real estate and travel and tourism. In the automotive sector, the group represents several automotive brands including Toyota and Lexus in Oman.
Mustafa Ahmed Salman is the Chairman and CEO of United Securities. He is also the director of Muscat Depository and Securities Registration Co., Oman Chamber of Commerce and Industry and Oman United Insurance Company as well as a committee member of Oman Kuwait Investment Company. Salman holds an advanced diploma in accounting, and is a holder of the International Capital Markets Qualification from the Securities Institute of London. He is also a registered broker with advisory license from MSM. He has close to three decades of experience in finance-related activities, of which nine years have been in government service in positions responsible for financial activities and 20 years in the Omani capital market. United Securities initiated operations with just four employees in 1994 as a limited liability company, offering local brokerage services. Currently, the company provides a full spectrum of investment services in the local and regional markets.
focuses on making a change in people’s lives through its three key pillars: education, health, and community well-being. Nailesh Khimji serves on the board of the Omani-French Friendship Association. Also, he is a member of the Cultural Council of the Fondation de la Haute Horlogerie and a member of the Grand Prix D’horlogerie de Genève. He is also a board member of the Oman chapter of the Young Presidents Organisation.
gas, specialised projects, and auto services. With Qais at the helm, there has been a rapid increase in the annual turnover of the company in just a decade. It added Al Khalili Electrical as its lighting and energy savings solutions arm and started its Dubai operations under the name Al Khalili United General Trading. Well organised and integrally coordinated, the group has accomplished many outstanding projects in the Sultanate.
Rashad M Al Zubair
Chairman, The Zubair Corporation & Chairman Oman Arab Bank
Enterprise builder
Rashad Al-Zubair is the chairman of the Zubair Corporation (“Z-Corp”), a leading business group in the Sultanate of Oman, with business interests extending to Automotive, Energy & Logistics, Engineering Construction & Contracting, Financial Services, Manufacturing and Real Estate & Hospitality. He steers the affairs of the Board, and acts as its representative in major matters and significant business relationships. Before taking over his current position in 2010, he has been President of Zubair Automotive, and thereafter Group President of The Zubair Corporation for a number of years. He has been the Chairman of Oman Arab Bank since June 1999. He is also the Chairman of the Zubair Holding SAOC and Oasis Water Company SAOC as well as Vice Chairman of Barr Al Jissah Resort Co SAOC. He is the Vice Chairman and Founder Member of Muscat University. He has held directorships (including the office of Chairman), in several prominent joint stock companies. He was the Deputy Chairman of the Oman Business Council and member of its founding Directors. Until recently he was the founding Chairman of Oman German Friendship Association. He also served as Director of the Capital Market Authority, the regulatory body of the Muscat Securities Market. Under Rashad’s leadership, the next generation of the Zubair family is significantly contributing to the economic, social and cultural development of Oman. The corporation is one of the largest employers in the country, fully committed to educating and training future generations to assume responsibility.
Al Zawawi
Board Member / Director OMZEST Group
Chairman OTE Group of Companies
Diversified portfolio
Reem Zawawi is one of the directors of OMZEST Group. The Group, now in its fifth decade of business excellence, has been making significant contributions to the economic development of Oman, helping creation of an empowered and successful nation. With business volumes exceeding a billion dollar, OMZEST provides employment to several thousands. With over 75 wholly owned and associate companies, OMZEST forms one of the Sultanate’s premier and diversified business Groups. Reem previously occupied the position of chairperson of Oman International Bank making her the first woman ever to head an Omani corporation. Founded by her father, OIB was established in 1984 as the first 100 per cent Omaniowned commercial bank. She had been on OIB’s board since 1996. Reem Zawawi has won numerous awards for her leadership of the bank, including the Arab Women Award 2006. The HSBC Bank Middle East’s Oman operations merged with OIB in 2012. She was also the chairperson of Muscat Insurance Co. SAOG and Muscat Insurance Co. SAOC (a subsidiary of Muscat Insurance Co. SAOG).
Brand equity
Sheikh Saad Suhail Bahwan is the chairman of OTE Group of Companies. The OTE group which started operations in 1991 has now grown into one of Oman’s foremost business groups with exclusive distributorships of automotive brands, automotive parts, lubes, tires, batteries as well as consumer electronics and home appliances. The OTE Group has a strong presence in the vehicle leasing and pre-owned automotive business, manufacturing of polymer colorants, as well as the education sector through its vocational training institutes. Some of the key principals that the group exclusively represent in Oman are General Motors (Chevrolet, and Cadillac), Hyundai Motor Company, ISUZU Trucks, Subaru Automobiles, Chery Automobiles, Shell Lubricants, Hankook Tires, Pirelli Tires, AC Delco Parts, LG Electronics, White-Westinghouse and Bosch Home Appliances among others. Sheikh Saad Bahwan served as the chairman of Octal Petrochemicals, a subsidiary of Octal Holding & Co. He was also the director of National Bank of Oman from November 2003 to July 9, 2005.
different sectors like hospitality, real estate, construction, retail, finance, logistics, oil and gas and a broad array of other activities. Sheikh Salim earned his bachelor’s and master’s degrees in International Business Administration from Boston University, USA in 1978, and upon his return to the Sultanate he founded his first company which started operations in the field of construction and he later founded the other companies of the group. The Golden Group Holding and its approach to brand building is a fusion of ideas which have evolved from years of experience, research and consultancy. All of these have been centered on Shaikh Salim’s vision of developing a solid corporate brand that signals quality, reliability, flexibility and honesty. These are the four factors that have helped in taking the brand to new and uncharted territories. Sheikh Salim won the coveted Nation Builder Award 2019 at Alam al-Iktisaad Wal A’mal (AIWA) Awards 2019.
facilities, participating in industrialisation and promoting manufacturing and other services sectors. “These are exciting times at Muscat Overseas Group and our corporate structure has been adapted to meet the competitive business environment,” says HE Sheikh Salim. “We continue to make excellent progress; decisive actions backed by innovation and a thorough understanding of our valued customers align together to sustainably strengthen and grow the group.” He adds that the group would continue to strive towards working for a better future for Oman and its stakeholders.
Oman’s biggest contractor, Galfar Engineering and Contracting, is a reputed businessman in the Sultanate. Sheikh Salim has contributed to the development of Oman’s infrastructure, starting with Galfar Engineering & Contracting Company in the early ‘70s. He is one of Oman’s leading promoters/founders, an investor in a number of prestigious projects and has also represented Oman in various national forums. In recognition of his noble services to society and the nation, he has been awarded an honorable degree of Doctor of Technology, by the Glasgow Caledonian University, Scotland, United Kingdom. He has served with various governmental and non-governmental bodies as vice president of Oman Chamber of Commerce & Industry and as board member of the FrancoArab Chamber of Commerce, France. His previous roles include chairman of Bank Sohar, vice president of Oman Chamber of Commerce and Industry, member of the Franco-Arab Chamber of Commerce, and the president of the Oman Football Association.
Power LLP, Oman’s first independent power producer. The company provides services to six major upstream oil and gas producers, three major downstream clients – and multiple valued customers staying in the company’s permanent accommodation for contractors (PAC) Renaissance Village facilities.
The company is creating a platform for exponential growth through its strategy and plans for Renaissance 2.0: developing future-focused service offerings, delivered by young, diverse, predominantly Omani talent, spurring digital innovation, sustainable environmental impact, ethical competitive supply chains, operational efficiency, and market leading customer experiences.
Sameer Al Awam
Co-Founder & CEO
Muscat Eye Laser Center (MELC)
Benchmark for Excellence
Sameer Al Awam is a distinguished entrepreneur and healthcare leader with over 35 years of experience across the GCC in business, construction, consultancy, and medical innovation. He chose Oman as the heart of his long-term vision—co-founding Muscat Eye Laser Center (MELC) in 2002. Under his leadership, MELC became a benchmark for excellence in eye care, recognised by the Ministry of Health as the Best Specialised Medical Center in Oman, and awarded Oman’s Most Trusted Eye Care Brand for five consecutive years.
Within a short period since its inception, Al Siyabi’s multi-million dollar projects has made an impact in the real estate and property market as being the most creative and innovative property developer in the Sultanate of Oman.
Al Awam is a two-time recipient of the CEO of the Year in Healthcare award, known for his commitment to elevating the Omani healthcare landscape. He introduced groundbreaking technologies—such as SmartSight and advanced laser platforms—and led MELC to achieve both ACHSI and ISO accreditations, setting new standards in patient safety and clinical outcomes. Beyond innovation, his leadership has empowered thousands of Omanis through accessible vision care, educational outreach, and communityfocused programs. His influence extends beyond business—embodying a national vision of quality, trust, and sustainable healthcare advancement. Sameer Al Awam’s legacy is defined by visionary leadership, social impact, and unwavering commitment to Oman’s health and well-being.
working life in the oil and gas industry, where he is highly regarded internationally. He holds, or has previously held, many senior executive positions in various private and state owned entities in Oman and internationally, among them as a board member of Oman Oil Company, chairman of Oman India Fertiliser Company (OMIFCO) and board member of the Caspian Oil Pipeline (CPC). It was after Macki left the Ministry of Oil and Gas, that he started his own business in the oil related sector in 1974 - Oman Oilfields Supply Center LLC (OOSC). Today, the OOSC Group of Companies has over 10,000 employees and Macki believes that one of the main reasons behind his success, besides education and opportunities, is the fact that he stayed in the business he knew best. STS was established in 1980 as a member of the OOSC group of companies, to provide specialist oil and gas field maintenance services. The STS Group is a leading multidisciplinary contracting group specialising in construction, manufacturing and maintenance services for the energy and industrial sectors, and has operations through the Gulf and Australia.
Shabir M Sultan
Chairman
Mustafa Sultan Enterprises Group
Delivering excellence
Shabir M Sultan is the chairman of Mustafa Sultan Enterprises Group. He initially joined Mustafa Sultan Office Technology Co and Mustafa Sultan Lighting Division Unit as a director in 1988. In this role, he led the strategy, annual business plans and its finalisation with the general managers for the board meets, in order to ensure MSE’s culture and talent align with the company’s core values, focused on customers and employees to accelerate delivery of the group’s business objectives. Shabir epitomised the determined entrepreneurial spirit of a visionary, by addition of new business lines to complement and supplement the existing portfolio. Maintaining good relations with the principals and key people in all the ministries as they form a huge customer base and development of infrastructure and improving geographical presence of the group. His contributions to the development of the MSE group are well recognised and he has been honoured with many other prestigious awards and titles have been conferred on him by business partners such as Fujitsu, Kyocera, Samsung, G&D, and Ideal.
Dr. Thomas Alexander is the Founder Chairman of Adrak Group of Companies and is listed among the Top 100 Businessmen in the Middle East by Forbes.
brother late Sheikh Saud Bahwan) and started a small trading enterprise in Muttrah souq, selling general merchandise. Later, when Oman opened up to the world under the astute leadership of the late His Majesty Sultan Qaboos Bin Said, revitalising its economy and creating new business prospects, Sheikh Suhail seized the new business opportunities while surmounting the challenges that came along with them. He expanded his business, venturing into new territories, securing international agencies and prestigious franchises and charted his journey to success. Today, the Suhail Bahwan Group is a multi-billion dollar corporate entity with over 40 companies across the gulf region, North Africa and South Asia engaged in diversified businesses that cover almost every aspect of people’s lives. He served as the chairman of National Bank of Oman until March 26, 2009. He was a member of the Majlis Al Shura (Parliament) for Settlements of Commercial Disputes and the Municipal Council.
Al Adrak stands out as one of the leading construction conglomerates in the region, with its headquarters in Oman. Founded in 1986, the company has garnered significant recognition and accolades from the international community for its exceptional quality of work and timely delivery of various specialised projects. Over the past three and a half decades, Al Adrak has contributed to national development through the construction of universities, infoparks, colleges, sports complexes, courts, police facilities, and so on. The company has also played a key role in rescue and relief efforts during crises such as Cyclone Gonu and other flash floods. The group has also ventured into diversified activities within the Sultanate as well as in UAE and KSA. Their latest venture being ‘Trufud’ in Oman, redefining agriculture and enhancing Food Security in line with Oman Vision 2040.
Muniem Al Zawawi
Pioneering role
Brigadier (Rtd) Waleed Omar bin Abdul Muniem Al Zawawi is the Chairman of OMZEST Group of companies, one of the Sultanate’s premier and diversified business groups, with over 75 wholly owned and associate companies. As a brigadier general in the Omani army, Walid served as director of moral guidance for the armed forces, in addition to his involvement in OMZEST’s various operations. Waleed had been the deputy chairman and independent non-executive director at HSBC Bank Oman since May 31, 2012. He has over 30 years of corporate experience. He served as the deputy chairman of the board of directors and director of Oman International Bank since May 31, 2012. He holds a Master’s Degree from Kings College- London. The OMZEST group has played a pioneering role in the all-round development of the Sultanate. Now in its fifth decade of successful operations in Oman, the Omzest Group has made significant contributions to the economic development of Oman, helping create an empowered and successful nation. OMZEST provides employment to several thousands. It is a multi-location conglomerate with diverse interests across a wide range of products and services. With manufacturing and export operations that cater to the demand in nearly a hundred countries across the globe, OMZEST’s ambitions are on a global scale.
known and respected local and international businessman. Born in Muscat, he graduated with honours in economics and pursued further studies in European history at Beirut University. Yahya is recognised throughout Oman, the GCC as well as Europe and North America for his business intellect and ability to develop successful enterprises worldwide. Yahya was personally honoured by the late His Majesty Sultan Qaboos bin Said with the Civil Order of Oman for his services to the Sultanate. The late His Majesty Sultan Qaboos bin Said also appointed Nasib as a member of the board of governors of the Central Bank of Oman; a position in which he served for more than three decades before retiring in 2009. The Yahya Group is a leader in residential and specialised construction, laundry and industrial services, residential and retail asset management within Oman and Hospitality in Europe and North America.
How we did it
A master list of over 250 names was drawn up, which was later filtered down to 100. The UMS editorial board deliberated and selected 50 names :based on the following criteria
Influence: The influence that a person wields within his company and the business community at large.
Size: The turnover of a company or the number of people employed by it has been taken as a measure of power of the person at the helm.
Finances: The financial performance of the company over the years.
Leadership: The stature of a person based on his contribution to the development of his industry or the overall economy.
Larger good: The mentorship and encouragement provided by a person to a large workforce including young Omanis.
Vision: The vision and foresight exhibited by a leader.
Entrepreneurship: An ability to start, lead or grow a business conglomerate
Honorary role: Honorary positions held by a person in government, public sector or other organisations based on his statesmanship abilities.
Succession: An ability to groom and induct the next generation or professionals into business.
Years in business and expansion abilities: The number of years spent by a person in business and his ability to take the organisation beyond Oman
Note: The list includes only business leaders from the private sector
SETTING BENCHMARKS
Muscat Eye Laser Center (MELC) aims to transform into
more than just a
medical facility.
We envision it as a hub for innovation, education and global
collaboration, says CEO, Sameer Al Awam, in an interview with Oommen John
Can you tell us about MELC and its journey over the years?
Muscat Eye Laser Center (MELC) was founded in 2002 with a clear and unwavering mission: to provide the highest standards of eye care to the people of Oman. From the beginning, we made a strategic choice — we would never compromise on quality. We prioritised investment in state-of-the-art technology and recruited a team of world-class surgeons and specialists. Over the past two decades, MELC has become a benchmark in ophthalmology, not just locally but across the region. We were the first eye center in the GCC to receive ACHSI accreditation — a global hallmark of clinical excellence — and we have earned multiple recognitions, including Best Eye Doctor in Oman (2016) and Best Specialised Medical Center from the Ministry of Health. MELC has also been honoured as Oman’s Most Trusted Eye Care Brand for six consecutive years. These accolades reflect our dedication, but the greatest achievement of all is the trust placed in us by the Omani community.
How does MELC differentiate itself in such a fast-moving and competitive industry?
What sets MELC apart is our uncompromising focus on quality, safety, and long-term impact. In a market where many providers prioritise volume or cost-efficiency, we take a different path — one rooted in patient-centered care and clinical excellence. We invest in the most advanced diagnostic and surgical technologies, always selected with a single purpose: delivering the safest, most precise outcomes possible. But technology alone is not enough. We combine it with deep clinical expertise and tailor each treatment plan to the unique needs of every patient. No two eyes are the same, and at MELC, no two surgical plans are either. This personalised, ethical approach —
supported by ongoing training, outcome tracking, and a culture of accountability — is what drives our results and continues to earn patient trust every day.
What is MELC’s role in the broader ophthalmology community, both locally and internationally?
We see MELC not only as a leading clinic but also as a contributor to the future of global ophthalmology. Our surgeons frequently present at international conferences, sharing clinical results, innovations, and surgical techniques developed at MELC. This helps put Oman on the map in the global medical landscape. Locally, we play an active role in education and community outreach — whether through school screening programs, public awareness campaigns, or patient education initiatives. Our mission goes far beyond the operating theater; it is about making a lasting impact on eye health across Oman and ensuring that every patient, regardless
ophthalmology, where breakthroughs in diagnostics, AI, and minimally invasive surgery are reshaping what is possible. At MELC, we are not just adapting to these changes — we are helping lead them. Our confidence lies in our people — an exceptional team of surgeons, clinicians, and caregivers committed to excellence and innovation. Looking ahead, we see MELC evolving into more than a medical center; we envision it as a hub for innovation, education, and global collaboration. What excites me most is knowing that Omanis no longer need to travel abroad for advanced eye care. Today, they can receive it right here — at home — from a team that combines international standards with deep local commitment
INCLUSIVE INNOVATION
Bank Muscat hosts annual Leadership Forum to celebrate employee achievements and continuous innovation
Bank Muscat, the leading financial services provider in the Sultanate of Oman, organised the Leadership Forum 2025 at St. Regis Al Mouj, which was attended by members of the Executive Management, including heads of branches and regional managers from both Bank Muscat and Meethaq Islamic Banking. The forum emphasised the importance of customer experience and state-of-theart banking services while highlighting the need to adapt to developments that strengthen the Bank’s role in economic and social spheres.
The annual meeting serves as a platform for management and employees to maintain the Bank’s leadership position. The Forum also hosted a ceremony honouring branches, Head Office and regional teams recognised in the second edition of the CEO’s Excellence Awards, celebrating top-performing teams in various business and operational activities. These awards recognise the best-performing teams in the Bank and promote development opportunities among employees. They enhance business performance, foster creativity in services and products,
and support the Bank’s digital transformation plans. This initiative positions Bank Muscat as a leader in the sector, with skilled personnel driving industry growth and building community trust.
On this occasion, a number of employees expressed their happiness to be awarded in the CEO’s Excellence Awards. AbdulAmir Haji Khair Al Balushi, Branch Manager, Ruwi, said, “At our branch, everyday provides a unique opportunity to make a meaningful impact in our customers’ experiences. The trust they place in us
not only inspires our team to innovate but also drives us to continuously enhance our services. We are dedicated to creating a memorable experience that truly reflect our commitment to their needs and aspirations, reflecting on the Bank’s vision “To serve you better, every day”.
On the same spirit, Ahlam Ahmed Al Ghaithi, Branch Manager, Madinat Al Sultan Qaboos, said, “This initiative is a prefect venue to meet with colleagues from all branches and departments of the Bank. I feel immense pride to work with a team that prioritises our customers’ needs above all else. Their loyalty and support motivate us to strive for excellence in everything we do. It is incredibly rewarding to see how these collective efforts not only strengthen our relationship with customers, but also foster a culture for continuous improvement within our department.”
The forum featured various interactive activities, including traditional folkart performances by employees from Musandam and Al Buraimi. Bank Muscat places a high priority on continuously improving employee satisfaction and uplifting workforce morale by actively acknowledging and addressing employees’ feedback,
thus maintaining a professional work environment. The Bank takes pride in its employees who work across the various departments and branches. Considering their pivotal role, the Bank is keen to provide various training and learning opportunities to help them enhance their performance and achieve their goals.
The Bank has consistently won a number of international and local awards and accolades in recognition of its leadership position in Oman. Amongst these recognitions, the Bank has been listed among Forbes’ Top Companies in the Middle East and won multiple prestigious awards such as the Best Bank in Oman Award from Euromoney, the Excellence in Customer-Centric Financial Services Award as well as the Best Bank Award at the Large Banks Segment from Oman Economic Review (OER) and Best Places to Work Award from a prestigious institution.
The annual meeting serves as a platform for management and employees to maintain the Bank’s leadership position . The Forum also hosted a ceremony honouring branches, Head Office and regional teams recognised in the second edition of the CEO’s Excellence Awards, celebrating top-performing teams in various business and operational activities
STRENGTHENING A HISTORIC RELATIONSHIP
The year 2025 is a special year for Oman and Russia as it marks 40 years of diplomatic relations between the two countries and we are building on this historic relationship says HE Sergey Tsivilyov, Energy Minister of Russia
Oman and Russia are celebrating 40 years of diplomatic relations this year and His Majesty Sultan Haitham bin Tarik visited Russia in April 2025. The Royal visit strengthened ties between the two countries and particularly in the field of energy. Mayank Singh of OER spoke to HE Sergey Tsivilyov Energy Minister of Russia on the sidelines of the St. Petersburg International Economic Forum (SPIEF), held from June 18-21. The Forum was organised by the Roscongress Foundation.
Sharing his thoughts on His Majesty’s visit to Russia HE Tsivilyov said that 2025 was “A very important year for us as we are celebrating 40 years of diplomatic relations between the two countries and it is a great honour that the Sultan came to visit Russia.”
Regarding the outcome of the visit he added, “The heads of our countries namely His Majesty the Sultan of Oman and President Vladimir Putin of Russia had a very productive dialogue and they reached an agreement on a number of issues. We as government representatives are now responsible to fulfil these agreements.”
“We particularly discussed our cooperation in oil production and working together in Organization of the Petroleum Exporting Countries (OPEC) plus. We have a broad range of contacts with Oman’s Ministry of Energy and Minerals and have started working on mutually beneficial projects,” HE added.
HE Tsivilyov highlighted the importance of global energy security, saying that amid the growing demand for energy security and stability in Europe and Asia, global energy security is the foundation for sustainable supply chains.
He acknowledged that the world now has serious changes and challenges in the area of energy and that the rising demand for energy and new tech creates challenges for the whole chain of energy production.
Highlighting the energy transition’s role, the Russian minister said it would be responsible for developing all countries and improving the quality of life.
He emphasised this as a responsibility to future generations, noting that proper energy sector development needs to positively influence national development.
“We are now establishing the core principles that will be the basis of energy of the future,” he noted, adding, “We believe future energy production must be rooted in energy justice.”
The minister noted that the expansion of energy should be driven by the development of renewable sources, not solely by CO2 emissions.
He also added that energy planning should consider several factors, including each country’s “specific standard of living and technological development.”
“Each country needs to ensure its energy security,” he said. Energy accessibility “should be built for both the people and for production,” and must be “not only technically but financially accessible” so people can afford it.
Energy, he stressed, should be efficient and “help develop the country and raise the standard of living.”
Additionally, he stressed that energy should consider environmental protection, saying, “That’s why the concept of energy justice is multifaceted.
Regarding Russia’s position in the energy market amid shifting global alliances and sanctions, Russia remains open to cooperation in the energy sector with all partners, he added.
“Energy is the basis of the development of all economies. Energy is the basis of the improvement of life quality of all the entire population of the world. Now we have to develop our own technology. Before that, we had to use technologies built up by the West,” he noted.
He added that Russia’s access to foreign technology was restricted, but this has created new opportunities for self-reliance, underlining that his country now possesses over 80 percent of the technologies used globally.
Russia, he added, targets producing 100 percent of all the technologies
locally, ensuring these technologies meet or exceed Western standards.
“This is the technological sovereignty our President has set as a goal for us,” he noted. However, he affirmed that no single nation could achieve this alone; it requires collaboration with friendly countries.
Russia is ready to share its technologies with all friendly countries to foster collective sovereignty based on energy justice, which includes accessibility of new technologies for every country, and access to financial instruments.
Commenting on the ongoing global energy transition, he said Russia believes BRICS countries now hold a special role and can together build a multipolar world, one that respects the unique circumstances and needs of each nation.
Russia is actively collaborating with BRICS energy ministers to advance this vision, added HE Tsivilyov. Last year, during the Russian Energy Week in Moscow, BRICS energy ministers met and signed a joint communiqué outlining shared principles for the energy transition.
This marked the first steps toward establishing a framework for fair energy access. On May 19 in Brazil, BRICS energy ministers reconvened to further refine these principles, particularly the concept of energy justice. Tsivilyov said the bloc also developed a concrete agenda for the development of the BRICS energy sectors.
“Now, at the St. Petersburg Economic Forum, we are continuing this work.”
He spotlighted energy inequality, particularly in Africa. “We know the challenges that African countries face, where 600 million people do not have access to energy. More than 1 million people do not have an opportunity to cook food using pure energy.”
“We are prepared to cooperate so we can solve these issues together with the African countries by discussing the most efficient strategies so that we
can provide improvements as soon as possible,” he added.
In addition, the Minister talked about the importance of SPIEF as an important platform for energy companies to meet and develop collaboration.
DELIVERING IMPACTFUL OPPORTUNITIES
As Wadiaa marks its first year of operations, Hamza Al Lawati, CEO, reflects on a journey shaped by innovation, resilience, and a firm belief in the power of alternative finance
Crowdfunding and alternative lending are still emerging concepts in Oman and across the GCC. Yet they are steadily gaining traction as powerful financial tools that connect entrepreneurs, institutions, and projects with a wider investor base. Over the past twelve months, Wadiaa has witnessed growing trust in the potential of these
platforms and encouraging signals from the market.
Here are some of the key sectors we have engaged with—and the insights gained along the way:
Real estate foray
Our inaugural campaign funded Building 94, a real estate development led by Siham Development. Offering a high single-digit annual return on a debt investment, this opportunity attracted interest from both investors and developers. The success of this first campaign affirmed our belief in real estate as a strong, foundational asset class for alternative finance. While regulatory challenges persist, we are working closely with relevant stakeholders to bring similar, highquality opportunities to the platform in the near future. Oman’s startup scene continues to evolve, supported by entities such as FFO, Omantel, Al Jabr, Cyfr, Ithca, and Phaze Ventures. There is no shortage of funding for high-potential local ventures. In this context, Wadiaa’s role is to selectively introduce international startups— particularly those with founder ties to the region—once market readiness aligns.
Our first entry into this space was through supporting the pre-seed round of Optimum Health. While early-stage ventures offer exciting upside, they come with significant risk. We urge our investors to conduct
careful due diligence and only commit capital that aligns with their risk tolerance.
Private equity and debt
We have hosted several private equity and private debt deals, such as the Al Dhahirah x SLB campaign. Sectors like food and beverage or manufacturing often require niche investors with deep sector knowledge and may not always draw broad participation. Nonetheless, we believe in their longterm value and will continue to list select opportunities of this kind.
We also welcome market feedback on the types of deals our community would like to see more of it. Shortterm lending to SMEs has proven one of the most popular asset classes on our platform.
With maturity, periods of 6–9 months and returns that outperform traditional fixed deposits, this category appeals to a wide range of investors. To date, we have launched 14 SME lending deals - 7 have already been fully repaid, some ahead of schedule, and the rest are progressing as planned.
We are proud to have supported SMEs founded entirely by Omani entrepreneurs, including a womenled venture in our first year. Key sectors supported include FMCG, Oil & Gas, and Healthcare, with strong traction in areas like working capital, expansion financing, growth funding, and tenders/LPOs.
Our average campaign takes just 1–2 weeks to fully fund, highlighting the appetite of our investor community and the efficiency of the Wadiaa model.
1 Women-led ventures supported
Deals launched: 15 (7 repaid, 8 active)
Key sectors funded: FMCG, Oil & Gas, Medical & Healthcare
Funded reasons: Working Capital, Expansion, Growth, Tenders/ LPOs
Wadiaa –Impactful numbers
Platform enhancements
To keep up with demand and improve user experience, we have upgraded both the front-end and back-end of the Wadiaa platform. These enhancements allow for more seamless deal management, better transparency, and support for a broader and more diverse range of opportunities.
We are proud of what we have achieved in our first year—but even more grateful for the trust and engagement of our investors, partners, and broader community.
Special thanks go out to the many collaborators who have helped shape our journey so far. Your insight, support, and confidence have been essential to ou r progress.
As we enter our second year, our mission remains the same: to deliver credible, accessible, and impactful investment opportunities through a robust, evolving platform.
We are just getting started—and are excited to grow, together.
Time to fund a deal: 1–2 weeks
CREATING FUTURE LEADERS
Since its establishment in 1983, CBFS has played a pivotal role in shaping the future of financial education in Oman and beyond. In an ever-evolving global financial landscape, the demand for highly skilled professionals equipped with analytical expertise, ethical integrity, and practical knowledge has never been greater and CBFS has constantly worked on providing students with the competencies and critical thinking abilities required to navigate and excel in an ever-evolving and complex environment. Dr. Zahran Salim Al Salti, Dean, College of Banking & Financial Studies (CBFS) gives an overview of the august institution and its seminal role and contribution to the banking and finance sector in Oman. Excerpts from an interview with Mayank Singh:
How has CBFS been contributing to the Banking and Finance Industry in Oman?
The College of Banking and Financial Studies (CBFS) has been the pioneer in banking and finance and training education in Oman. The mission of the college is to provide innovative learning opportunities that inspire and prepare students through transformative learning experiences, applied research and dynamic industry engagement. To implement its mission, the college offers diverse programs for students and professionals. For instance, it offers undergraduate programs that equip students with a solid foundation in banking, finance, and related disciplines. This ensures a steady stream of qualified graduates entering the workforce. In addition, the college offers targeted training programs for industry professionals at various levels, helping them enhance their skills and stay current with industry best practices.
CBFS further provides pathways to globally recognised certifications courses like CMA, ACCA, CIMA, and CFA etc. The recent noteworthy addition to CBFS curricula is the introduction of a graduate program, MSc in Accounting and Finance, commencing in September 2025.This program is designed to offer advanced education and research opportunities,
further contributing to the industry’s knowledge base and leadership pool.
In what ways is CBFS equipping young Omanis with the skills and technological knowhow to negotiate a rapidly challenging banking and financial landscape?
The banking and financial landscape is evolving rapidly due to technological advancements and changing market dynamics. CBFS is committed to ensuring that young Omanis are wellprepared to thrive in this environment. The strategic priority of the college clearly articulates to embed effective use of information technology. To achieve this objective, CBFS regularly updates its curriculum to incorporate emerging technologies like Fintech, blockchain, data analytics, and cybersecurity. The Center of Excellence in Fintech at CBFS serves as a catalyst for training finance professionals in technology, enabling them to enhance their competitiveness in the industry.
Moreover, the college offers majors in Artificial Intelligence and Business Data Analytics that aim to prepare students with cutting-edge skills in emerging technologies and data-driven decision-making. The college further provides students with opportunities for internships, case studies, and simulations that allow them to apply their knowledge to real-world scenarios. CBFS also increasingly focus on research initiatives that address key challenges and opportunities within the Omani financial sector, providing valuable insights to industry stakeholders.
Can you give us an overview of what CBFS offers for its students and its plans?
CBFS offers a comprehensive educational experience designed to equip students with strong theoretical foundation and practical skills, ensuring that they are well prepared for industry. Moreover, opportunities to pursue industry-recognized certifications and specialized training programs for professionals help them stay competitive and adapt effectively to a constantly changing business environment. In addition, the college
undertakes diverse initiatives such as career counseling, resume writing workshops, and job placement assistance to help students launch their careers.
CBFS emphasises a strong alumni network that provides opportunities for networking and mentorship to foster professional growth and industry connectivity. In addition, the college strongly encourages students and faculty to understand the current and future industry trends through applied research. As a result, the college actively collaborates with industry to understand their needs and ensure that programs are aligned with industry requirements. Industry experts are also invited as guest lecturers to share their experiences with the students. In sum, CBFS offers various extracurricular activities, besides regular academic programs, to foster students’ holistic development and enhance their soft skills.
Please share your thoughts on how Banking-related events such as New Age Banking Summit can help students and industry. Banking-related events like the New Age Banking Summit play a crucial role in helping students to develop them as future leaders. At the same time, such events are the keys for banks and financial institutions to understand the demand of stakeholders and prepare for the future of digital finance. Students can often connect with their potential employers at such events to communicate their aspirations and potential.
In addition, banks and other financial institutions can showcase innovative technologies and solutions that are transforming the banking industry locally and globally. This exposure can inspire students to think creatively and develop new ideas. Moreover, students gain a better understanding of the industry’s needs and challenges by attending these events, which can help them make informed career decisions. Overall, such events provide a common ground for all the industry players to meet and discuss the advancements and way forward.Top of Form
SHAPING THE FUTURE
Ali Al Balushi, CEO, ROAA UNITED, discusses how the X-wall is revolutionising interactive experiences and edutainment. He also shares his perspective on enabling organisations rethink audience engagement through a phygital approach that fuses interactivity, storytelling, and education, creating impactful experiences across events, education, and public engagements
How is ROAA UNITED adapting its solutions such as the X-wall to meet the changing expectations of students and educators?
ROAA UNITED is deeply committed to adapting its solutions, like the X-wall, to meet the evolving expectations across events, employees, customer experiences, as well as students and educators in today’s dynamic environment. We understand that today’s audiences, whether in classrooms, workplaces, or events, want more than passive engagement; they look for interactive, immersive, and meaningful experiences connected to real-world situations. To meet these needs, we continually improve the
X-wall by adding gamified content, engaging storytelling, and interactive challenges that encourage active participation instead of just observation. We collaborate closely with educators and organizational leaders to tailor content that aligns with curriculum goals and training objectives, ensuring the technology supports deeper understanding and better retention. Additionally, the X-wall is designed to be flexible across many settings, from physical classrooms and corporate training rooms to remote and blended learning environments, supporting inclusive learning and engagement for all types of users. By consistently gathering feedback and keeping
pace with changes in education and engagement, ROAA UNITED ensures the X-wall remains a practical and effective tool that serves the needs of today’s learners, professionals, and audiences.
How will the X-wall change the entire approach to education and interactive learning systems?
The X-wall will transform education by shifting the focus from passive listening and reading to active participation. Instead of traditional static lessons, it creates an environment where students engage directly with content through interactive challenges, storytelling, and visual activities. This hands-on approach caters to different learning
and effective. By blending physical space with digital interaction, the X-wall bridges classroom and technology, enabling educators to deliver dynamic and adaptable lessons. Ultimately, it changes education from a oneway transfer of information into a collaborative, immersive experience that encourages curiosity, critical thinking, and deeper understanding.
What are the future plans for NUERLENS, especially regarding the X-wall, VR solutions, and AI?
NUERLENS is continually developing to meet the evolving needs of the market and to enhance the capabilities of the X-wall in partnership with our strategic partner FOCUZ. This collaboration will make interactions smarter and more personalized, allowing the X-wall to deliver tailored content and provide real-time feedback that increases engagement and improves learning outcomes. The X-wall is also considered an application of the Internet of Things
on integrating IoT devices for ESG reporting and energy optimisation purposes, with plans to connect these systems to our VR technology.
Our VR solutions are closely aligned with ESG objectives, focusing on creating safe and effective training environments, raising sustainability awareness, and encouraging responsible behavior. By combining immersive technology with ESGdriven content, we help organisations visualise complex scenarios, engage audiences more deeply, and support better decision-making in areas such as environmental management, health and safety, and community well-being.
What exactly does NUERLENS do, and how does the X-wall fit into your range of solutions?
NUERLENS, a subsidiary of ROAA UNITED, focuses on creating innovative solutions that bring together the physical and digital worlds to offer interactive
involves combining real-world elements with digital technology to connect with users in meaningful and memorable ways. We also develop virtual and extended reality experiences that help people learn, explore, and interact in practical and immersive ways.
The X-wall is a console that transforms any regular wall into an interactive surface, turning any space into a vibrant environment for engagement and learning. It features interactive content, storytelling, and game-like challenges that encourage active participation. Whether used at events, training sessions, or educational settings, the X-wall changes traditional passive viewing into an engaging experience that connects people with the content and with each other. Designed to be flexible and adaptable, it works effectively in a wide range of settings, from corporate events and customer experiences to classrooms and public awareness campaigns.
TAPPING POTENTIAL
Bahrain delegation concludes landmark participation at St. Petersburg International Economic Forum
Ahigh-level delegation from the Kingdom of Bahrain, led by His Highness Shaikh Nasser bin Hamad Al Khalifa, His Majesty the King’s Representative for Humanitarian Work and Youth Affairs, has concluded a highly successful participation at the St. Petersburg International Economic Forum (SPIEF) 2025, reaffirming the Kingdom’s commitment to strengthening ties with the Russian Federation.
During SPIEF’s main plenary, His Highness Shaikh Nasser bin Hamad Al Khalifa delivered a speech and
participated in a panel discussion alongside His Excellency Vladimir Putin, President of Russia; His Excellency Prabowo Subianto, President of the Republic of Indonesia; His Excellency Ding Xuexiang, Vice Premier of the State Council of the People’s Republic of China and His Excellency Paul Mashatile Deputy President of the Republic of South Africa, where he focused on the Kingdom’s approach to economic development. Bahrain’s participation in the 28th edition of SPIEF as a guest country marked a significant milestone, featuring the signing of six Memoranda of Understanding
(MoUs) to deepen cooperation across various sectors, including customs, standardisation, metrology, energy, media, tourism, and trade. Notable agreements include: MoU between the Government of the Russian Federation and the Government of the Kingdom of Bahrain on Cooperation and Mutual Administrative Assistance in Customs Matters; MoU between Bahrain’s Ministry of Industry and Commerce and Russia’s Ministry of Industry and Trade on Technologies and Equipment for the Fuel and Energy Sector; MoU between Bahrain’s Ministry of Information and TV-Novosti on Media and IT; MoU between Bahrain
News Agency and RIA Novosti; MoU on Tourism, Business Events, and Incentive Travel between Bahrain Tourism and the Aeroclub Group of Russia; MoU and Cooperation Agreement between the Russian Export Center and Export Bahrain.
Kingdom’s vision for innovation and sustainable development. His Excellency Mohamed bin Mubarak bin Dainah, Minister of Oil and Environment, participated in panel discussion titled “The Global Energy Market: Seeking a Balance between Producer and Consumer
Hospitality: Investing in Human Capital, Education, and International Cooperation”, highlighting Bahrain’s focus on developing human capital to elevate its tourism and hospitality sectors. Shaikh Khalifa bin Ahmed Al Khalifa, President of the Bahrain Authority for Culture and Antiquities,
During SPIEF 2025, Bahrain showcased its dynamic economic landscape and forward-looking policies, highlighting opportunities for collaboration across priority sectors. The Kingdom engaged with numerous Russian counterparts through bilateral meetings, exploring avenues for cooperation, investment growth and trade expansion. These engagements underscore Bahrain’s strategic intent to serve as a key gateway for Russian investment into the GCC and broader Middle East markets.
Bahrain’s representatives also participated in high-level panel discussions to emphasize the
Interests,” highlighting Bahrain efforts in maintaining readily available sustainable energy mix. His Excellency Abdulla bin Adel Fakhro, Minister of Industry and Commerce, spoke at a panel titled “The Role of SMEs in Achieving New National Goals” where he emphasised Bahrain’s commitment to fostering a resilient and innovative SME sector and strengthening economic ties with Russia. His Excellency also participated in the “Russia-Bahrain Business Dialogue” alongside Sara Buhejji, CEO of Bahrain Tourism and Exhibitions Authority. Additionally, Sara Buhejji contributed to a panel on “Professionals for Tourism and
also participated in a panel titled “The Architecture of Memory: Are Cultural Codes a Passing Trend or a Call to Return to our Roots?,” exploring the importance of cultural identity and heritage in contemporary society. Team Bahrain’s successful participation at SPIEF 2025 sets a strong foundation for future collaborations and economic growth. The Kingdom remains committed to deepening its ties with Russia and promoting new opportunities for businesses and investors.
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STRIKING DESIGN
Changan UNI-K: Intelligent performance meets luxurious design and technology
The Changan UNI-K continues to turn heads across Oman, offering a seamless combination of striking design, cutting-edge technology, and exhilarating performance. With monthly installments starting from RO173 for 6 Years, the UNI-K makes intelligent luxury more accessible than ever. These EMI plans are based on a 20 per cent down payment, subject to bank credit approval, and apply only to vehicles purchased for personal use.
The Changan UNI-K is a sleek, mid-size
SUV known for its futuristic design and advanced features. It offers a spacious interior, a 360° HD camera, and a “space battleship” gear shifter. The UNI-K comes with 2 variants Trend and Royal, at the core of the UNI-K is a 2.0-litre turbocharged engine that generates 233 horsepower, paired with an 8-speed automatic transmission for smooth yet responsive power delivery. An intelligent all-wheel-drive system ensures superior traction and stability, whether on urban roads or rugged terrain, making the UNI-K as capable as it is refined.
Key Features:
• Engine: 2.0 TURBO I4 with 233 horsepower and 390 Nm of torque.
• Transmission: 8-speed automatic.
• Drivetrain: 4WD.
• Design: Split LED headlights, 21-inch sports wheels, airship-shaped spoiler, and hidden door handles.
• Interior: Luxury Business Class seats, stylish fog lamps, and advanced technology.
• Technology: 360° HD camera, space battleship gear shifter.
• Safety: Impressive safety ratings.
• Other: Acoustic Hood, Multi Information Display, Radar and Advanced Safety Features.
• Manufacturer Warranty: 6 years or Unlimited Mileage Warranty.
Its commanding presence is accentuated by a borderless front grille, sculpted LED headlamps, and a sleek fastback silhouette that communicates both elegance and athleticism. In Royal variant 21-inch alloy wheels enhance its bold design, giving the UNI-K an assertive road stance.
Inside, the UNI-K is a showcase of modern luxury. The cabin features
premium materials, ambient lighting, and ergonomically designed seating for optimal comfort. A multi-screen digital cockpit includes a 12.3-inch infotainment display and an advanced digital instrument panel, providing intuitive access to connectivity and controls. A panoramic sunroof bathes the cabin in natural light, adding to the feeling of openness and sophistication.
Technology plays a central role in the UNI-K’s appeal. Voice-activated controls, adaptive cruise control, lane-keeping assist, and a 360-degree camera system are just a few of the advanced features that offer drivers convenience, safety, and peace of mind.
With its powerful performance, standout design, and thoughtful innovation, the Changan UNI-K redefines what a modern SUV can be— intelligent, elegant, and engineered to impress.
MARKING NEW HORIZONS
MHassan & Co. LLC, the exclusive distributor of Suzuki vehicles in Oman, unveiled the all-new 2025 Suzuki Dzire at its showroom in Azaiba.
The launch event was attended by senior management from the Moosa Abdul Rahman Hassan & Co., members of the media, and automotive enthusiasts — celebrating the continued partnership between two legacy brands committed to quality, innovation, and customer satisfaction. Completely reimagined, the new Dzire
elevate the compact sedan segment. Speaking at the launch, Muhammad Faisal Nawaz, Marketing Manager –Suzuki Oman, said, “The launch of the new Dzire marks not only a new chapter for Suzuki in Oman but also reflects our unwavering commitment to bringing future-ready mobility solutions to our customers. The trust that Omani families have placed in Suzuki — decade after decade — is something we deeply value. The 2025 Dzire, with its refreshed design and advanced features, is built to carry that legacy forward.”
undergone an exciting uplift with enhanced aesthetics, upgraded technology, and advanced safety — all packaged into a fuel-efficient sedan. It blends elegance, efficiency, and advanced technology to offer a refined driving experience in the compact sedan segment. Designed with a bold new front grille, LED Crystal Vision headlamps, and aerodynamic enhancements like the shark fin antenna and aero boot lip spoiler, the Dzire stands out with contemporary appeal. Inside, it offers a premium feel with features such as a 9-inch
automatic climate control, and rear seat AC vents for added comfort.
Safety is a top priority with six airbags, Electronic Stability Program (ESP), Tyre Pressure Monitoring System (TPMS), and ISOFIX mounts. Powered by a 1.2L Z-series petrol engine paired with a smooth CVT transmission, the Dzire ensures excellent fuel efficiency without compromising on performance — making it a smart choice for today’s discerning drivers.
Faisal further added, “Moosa Abdul Rahman Hassan & Co. shares a deeprooted legacy with Suzuki that spans over decades. As one of the pioneering
Key Highlights:
• LED Crystal Vision Headlamps
• Shark Fin Antenna & Aero Boot Lip Spoiler
• 9-inch Smart Display (GLX variant)
• Tyre Pressure Monitoring System (TPMS)
• Cruise Control & Steering-Mounted Controls
• Automatic Climate Control
• Rear Seat AC Vents
• Six Airbags for Enhanced Safety
• 378L Luggage Capacity
• Keyless Push-Start System (GLX)
• Front Fog Lamps LED (GLX)
• Leather-Wrapped Steering Wheel (GLX)
• Polished Alloy Wheels (GLX)
establishing Suzuki as a household name known for reliability, fuel efficiency, and exceptional value. This strong alliance continues to thrive with each new generation of vehicles, delivering innovation tailored to the evolving needs of Omani drivers.”
Customers are invited to visit the all-new Suzuki showroom in Azaiba to explore the Dzire up close. Test drive bookings are now open, giving customers a chance to experience the sophistication, smooth performance, and reliability that define Suzuki’s DNA.
CONTEMPORARY DESIGN
VF 8’s debut in Oman represents a pivotal moment in VinFast’s regional growth journey
To celebrate the official arrival of the all-electric VinFast VF 8 in Oman, Bahwan Automobiles and Trading LLC hosted the “Evening with VinFast,” an exclusive event curated for media representatives, influencers and select customers. Held in an elegant setting, the evening offered guests a firsthand look at the VF 8’s striking design, advanced technologies, and eco-conscious engineering. The event provided an immersive platform to showcase VinFast’s bold vision for the future of smart mobility and its unwavering commitment to delivering innovative, sustainable driving solutions.
Speaking at the event, GK. Ganesh COO, Bahwan Automobiles and Trading LLC remarked, “We are delighted to introduce the VinFast VF 8 to the Sultanate of Oman. This launch marks a significant milestone in our efforts to offer forward-thinking, sustainable, and high-quality mobility solutions to our customers. VinFast’s trailblazing EV innovation and contemporary design align perfectly with our aspirations for the future of automotive excellence in the region.”
Attending this key event, Do Hoai Linh, Market CEO, VinFast Middle East added, “The VF 8’s debut in Oman represents a pivotal moment in VinFast’s regional
growth journey. We believe the Middle East is poised for a transformative shift toward intelligent, zero-emission mobility, and the VF 8 stands as a compelling symbol of that future. Our partnership with Bahwan Automobiles reflects our shared commitment to delivering performance, progress, and sustainability to drivers across the Sultanate.”
In alignment with the Vision Oman 2040 initiative. VinFast enters Oman at a time when interest in electric vehicles is surging, fuelled by consumer demand for costeffective, eco-friendly alternatives and governmental efforts to lower carbon
further incentivizes this shift by offering 0% VAT on fully electric vehicle purchases. With a best-in-class ownership package, the all-electric, premium VF 8 offers exceptional value: an industry-leading 10-year/200,000 km vehicle warranty, 10-year unlimited battery warranty, complimentary home charger, premium service package, and OEM-backed 10-year roadside assistance.
The automotive industry is undergoing rapid transformation, and at the forefront of this transformation is the VinFast VF 8. More than just an electric SUV, the VF 8 delivers a driving experience that blends innovation, sustainability, and sophistication. With cutting-edge technology, outstanding performance, and a commitment to eco-friendly mobility, the VF 8 offers a glimpse into the future of transportation.
VinFast’s commitment to sustainability is reflected in every aspect of the VF 8. As a zero-emission vehicle, it reduces your environmental impact without sacrificing performance or luxury. From premium eco-friendly materials to sustainable manufacturing processes further underscore VinFast’s dedication to creating a greener world. Together with the VF 8, drivers and VinFast are paving the way for a more
a time. The VinFast VF 8 features a sleek, aerodynamic design crafted by world-renowned Italian design house Pininfarina. With bold lines, dynamic proportions, and a sophisticated presence, the VF 8 sets a new standard for electric SUVs.
Beneath its stylish exterior, the VF 8 is boasts a dual-motor, high-performance electric drivetrain that delivers up to 402 hp and a range of up to 493 km (NEDC) on a single charge, depending on the model variant. The VF 8’s all-wheel-drive capability ensures exhilarating torque of up to 620 Nm while maintaining a stable drive. Its innovative battery system supports rapid charging, enabling 10% to 70% charging in just 31 minutes with a DC fast charger. Step inside the VF 8, and you’re welcomed by cutting-edge technology designed to elevate your driving experience. A stunning 15.6inch touchscreen display serves as the command centre for the vehicle, giving you access to entertainment and vehicle settings at your fingertips.
But it does not stop there. The VF 8 is packed with VinFast’s smart and luxurious features, which include a 360-degree surround-view monitoring system, ventilated seats in both the first and second rows, a wireless phone charger, a power tailgate, and seamless
and Android Auto. Advanced driverassistance systems (ADAS) such as adaptive cruise control, lane-centering assist, automatic emergency braking, and 11 airbags, including driver and front passenger knee airbags, ensure ultimate safety and peace of mind on every journey in the VF 8. The VF 8 reflects VinFast’s commitment to sustainability. As a fully electric SUV, it produces zero tailpipe emissions, helping to reduce the carbon footprint. The materials and processes used in its manufacturing are eco-friendly, further contributing to a greener planet.
By driving the VF 8, you are not just choosing a car, you are choosing a cleaner and more sustainable future. VinFast believes that the future of driving should be worry-free. That is why the VF 8 comes with an industryleading 10-year unlimited mileage warranty on the high-voltage battery for retail customers, coupled with an exceptional 10-year or 200,000 km vehicle warranty. This ensures unparalleled peace of mind throughout VF 8 ownership. The VinFast VF 8 is for the eco-conscious driver, the tech enthusiast, and anyone who refuses to compromise on style or performance. With its perfect blend of innovation, dynamics, and responsibility, the VF 8 isn’t just changing how we drive — it’s changing what we expect from mobility.
INNOVATION EXCELLENCE
Mitsubishi Motors Oman awarded ‘Best Distributor of the Year’
General Automotive Company (GAC), the official distributor for Mitsubishi Motors in Oman and part of The Zubair Corporation, has been awarded ‘Best Distributor of the Year’ by Mitsubishi Motors Middle East and Africa (MMMEA). The award reflects GAC’s exceptional performance across all key business areas and reinforces
its position as one of the most accomplished Mitsubishi distributors in the entire Middle East and Africa region.
In a landmark achievement, Mitsubishi Oman secured a total of five prestigious awards, each highlighting a core strength of the company’s operations. The title of “Distributor
of the Year” is awarded to the topperforming distributor in the Middle East and Africa region, based on a holistic evaluation of performance in Sales, Marketing, Customer experience, After-sales, and overall business growth. This award stands as a testament to Mitsubishi Oman’s consistent excellence, strategic development, and unwavering customer-centric approach.
In addition, Mitsubishi Oman received the prestigious “Best in After-Sales” award, distinguishing itself as the only winner in the entire Middle East and Africa region. This recognition highlights the company’s operational strengths, including exceptional workshop standards, technical expertise, parts availability, and proactive service outreach. These factors all contribute to high levels of customer satisfaction and loyalty. Mitsubishi Oman was also honoured with the award for “Best Customer Experience,” which recognises organisations that excel at creating seamless, customer-centric touchpoints, from digital platforms to showroom interactions and aftersales support, ensuring an elevated ownership journey.
Further, the “Platinum Award for Sales and Marketing Excellence” was presented to Mitsubishi Oman as recognition for its innovative campaigns, effective branding, and data-driven retail strategies that have significantly contributed to Mitsubishi’s market presence and consumer appeal
in Oman. Finally, the “Platinum Award for After-Sales Excellence” affirms Mitsubishi Oman’s leadership in customer care and technical service delivery. It acknowledges the company’s ongoing commitment to providing world-class customer experience, support, and timely service, long after the vehicle is sold. This is the 4th consecutive year that Mitsubishi Oman has won the much-valued Platinum Award in After-Sales Excellence, becoming the only distributor to have achieved this remarkable feat.
Hani M. Al Zubair, Chairman of the Mobility & Equipment Sector at The Zubair Corporation, said, “Our achievements this year are a direct result of focused leadership, operational excellence, and a company-wide culture of customer-first approach. This recognition reaffirms our longstanding commitment to setting industry standards and building lasting trust with our customers. Achieving this amazing feat, especially in the 50th Golden Anniversary of our partnership with Mitsubishi Motors, makes it even more special.”
Niels Bormans, Group CEO, The Zubair Corporation, said, “We are immensely proud of General Automotive Co.Mitsubishi Oman’s continued success. These awards are not just recognition from Mitsubishi Motors, but a reflection of the group’s broader vision for excellence, innovation, and impact across the sectors in the market we serve.”
Manoj Ranade, General Manager of General Automotive Company, said, “This is a proud milestone for our team. Being recognised not only for our sales or after-sales strength, but across every customer touchpoint highlights the consistency and dedication that we as a team bring to the brand we represent. These awards reinforce our ongoing commitment to enhancing the dynamic “Mitsubishi-ness” experience in Oman, year after year.”
With a strong nationwide network of 9 showrooms, 14 service centers, and 17 parts outlets, Mitsubishi Oman continues to make ownership accessible and rewarding to all motorists across the Sultanate.
BILLBOARD
National Finance CEO Wins Financier’ Award
National Finance, the Sultanate of Oman’s leading finance company, is proud to announce that its Chief Executive Officer, Tariq Sulaiman Al Farsi, has been honoured with the title of ‘Best Financier’ at the prestigious Flying Lion Awards 2025, presented by The Phillips Group. This accolade celebrates Al Farsi’s exceptional contributions to the financial sector and highlights the outstanding progress and accomplishments National Finance has achieved under his visionary leadership.The Flying Lion Awards are among the most distinguished recognitions globally, honouring leaders and influential individuals who have made outstanding contributions to their industries and nations. Celebrated for their expertise, innovation, outstanding performance, and far-reaching impact, recipients embody excellence and exemplary achievement in their respective fields. The awards are presented by The Phillips Group (TPG), a global retained executive search firm specializing in board and C-level placements for multinational companies for nearly 40 years.
Under Tariq Sulaiman Al Farsi’s leadership, National Finance has witnessed significant growth, innovation, and resilience – solidifying its position as a market leader in the nation. His commitment to responsible financing, digital transformation, and customer-centric solutions has set new industry benchmarks and contributed to the broader economic development of the Sultanate of Oman. Al Farsi’s vision emphasizes the nurturing of a dynamic, positive workplace culture and championing national talent to delivering innovative, customer-focused finance solutions, and it is this collective pursuit of excellence that defines who we are as an organisation.”
Game-changing Cold Plasma technology introduced in Oman
A major leap in advanced wound care and infection management was marked with the official launch of the Neoplas Argon Jet Cold Plasma device in Oman. The CE MDR-approved German technology was introduced by Alfarsi National Enterprises following successful clinical evaluations at Khoula Hospital and Oman International Hospital. To commemorate the launch, a high-profile medical symposium was held in Muscat, drawing the participation of over 150 doctors and healthcare professionals from across the country. The event brought together leading experts from Europe and Oman for a full day of scientific exchange, practical insight, and a live demonstration of the device.
The Neoplas Argon Jet utilises cold atmospheric argon plasma to accelerate wound healing, stimulate tissue regeneration, and inactivate pathogens — without pain or other side effects. Its use in treating diabetic foot ulcers, chronic wounds, dermatological lesions, and post-surgical infections has already shown remarkable results in clinical settings. “This is more than a product launch; it’s the beginning of a new chapter in how we approach wound care in Oman,” said Saju George, Managing Director of Alfarsi National Enterprises. “The clinical success at top hospitals and the overwhelming interest from the medical community show just how timely and impactful this technology is.”
The Neoplas Argon Jet is the result of years of rigorous scientific collaboration involving neoplas med GmbH, the Leibniz Institute for Plasma Science and Technology (INP), University Medical Center Greifswald, Charité –Universitätsmedizin Berlin, and various research and industrial partners across Europe. The symposium featured renowned speakers including Dr. Christian Seebauer, a pioneer in plasma-based wound care from Germany; Dr. Aleksandra Szlachcic, a Polish dermatologist with years of clinical experience in scar and dermatological treatments; and Prof. Dr. Ralf Lobmann, a leading diabetologist specializing in diabetic foot ulcers. Dr. Klaus Ruhnau, COO of Neoplas Med
GmbH, also addressed the audience, highlighting the global momentum behind cold plasma therapy. The therapy, which will enable treatment of chronic wounds, has been introduced in many parts of GCC already.
“This symposium brought science, practice, and future potential together in one place,” said Dr. Ruhnau. “We were thrilled to see the level of engagement and curiosity from Oman’s medical professionals.”
Throughout the day, attendees explored the underlying science of cold plasma, its medical and economic impact, and its potential to transform the treatment of complex wounds. Sessions highlighted growing global evidence for PlasmaJet technology and its applications in dermatology and infection control. The event also featured a live demonstration and hands-on experience, allowing participants to observe and practice using the system in a simulated clinical environment. With its robust scientific backing, and growing international recognition, the Neoplas Argon Jet is now available in Oman — offering a safe, effective, and non-antibiotic treatment solution for some of the most challenging wound care cases in modern medicine.
BILLBOARD
Liva Insurance marks graduation of trainees, reinforcing commitment to talent development and future leadership
Liva Insurance celebrated the graduation of its latest trainee cohort, reinforcing the company’s commitment to developing future-ready professionals who will contribute to Oman’s evolving economic and professional landscape. Designed to blend practical experience with structured learning, the program reflects Liva’s strategic focus on building a skilled, agile workforce. Over the past several months, trainees demonstrated strong performance across various departments, gaining hands-on experience and developing technical capabilities in line with industry standards. The graduation ceremony recognized the achievements of the trainees, as well as the contributions of mentors, team leads, and internal experts who played a vital role in their development. Fathiya Al Hajri, Head of Human Resources at Liva Insurance, commented, “We are proud to see this group of trainees complete the
Ooredoo and Bawwaba unite to launch first telecom-backed B2B marketplace in Oman
Ooredoo has announced a strategic partnership with Bawwaba, an emerging Omani B2B e-marketplace, to launch Oman’s first telecombacked B2B digital marketplace, enabling businesses in the Sultanate to connect, trade, and grow. SME and corporate customers now have a smarter, more seamless way to expand their reach locally and globally.
Together, Ooredoo and Bawwaba are setting a bold new precedent for how the telecom and tech sectors can collaborate to fuel sustainable economic growth in the Sultanate. “This partnership marks a major step in Ooredoo’s journey to go beyond telecom and drive digital growth,” said Assad Al Saadi, Director of ICT Business Enablement at Ooredoo.
“By combining our brand strength, digital capabilities, and customer base with Bawwaba’s marketplace infrastructure, we deliver game-changing solutions that support business growth, strengthen the SME ecosystem, and advance Oman’s digital economy.” Businesses can now promote their services online, connect with potential partners, and access new
program successfully. Their growth is a testament to their dedication and to our organisation’s long-standing commitment to capability building. This initiative reflects our broader focus on professional development, knowledge transfer, and nurturing the next generation of leaders who are prepared to navigate the challenges of a modern workplace.” She added, “These graduates leave with more than just technical skills—they bring a mindset of adaptability, critical thinking, and purpose. We look forward to seeing the impact they will make in their future roles.” The program incorporated modern learning techniques, including interactive workshops, digital tools, and real-time project exposure. Participants built foundational skills in communication, problem-solving, analytical thinking, and digital literacy—key attributes in today’s fast-evolving business environment. The initiative is also aligned with Oman Vision 2040, supporting national objectives in human capital development and knowledge-driven growth. Through structured, scalable training pathways, Liva Insurance is investing in long-term value creation—both within the organisation and across the broader community.
commercial opportunities all within a single trusted platform. This initiative aligns with both companies’ shared vision to enable digital transformation and support economic diversification in Oman. It reinforces Ooredoo’s position as an enabler of business success, providing value-added digital solutions that help companies operate more efficiently and competitively.
