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No. 309 July, 2026
EDITOR’S DESK
Change makers OER’s Most Influential People in Business celebrates a diverse group of leaders whose vision, expertise and achievements are shaping the future of business in Oman and beyond. Today’s business leaders operate in an environment defined by rapid technological advancement, shifting consumer expectations and growing demands for responsible and sustainable growth. Though leadership styles differ, the most effective leaders know when to be strategic, transformational, decisive or empowering. They provide clarity, inspire people, embrace innovation and align their organisations around a clear vision.
EDITORIAL Editor-in-chief Said Masoud Almashani Executive Vice President and Group Editor Mayank Singh Editor Oommen John P DESIGN Assistant Art Director Khoula Rashid Al Wahaibi Chief Photographer Rajesh Rajan Cover concept Rakesh Radhakrishnan
MARKETING Associate Advertising Director Shivkumar Gaitonde Business Manager Dhanish Pillai CORPORATE Chief Executive Officer Atulya Sharma Distribution United Media Services LLC Published by United Press & Publishing LLC PO Box 3305, Ruwi, Postal Code - 112 Muscat, Sultanate of Oman Tel: (968) 24700896, Fax: (968) 24707939 Website: www.umsoman.com
Effective leadership is rarely about following one model. The ability to adapt is increasingly a competitive advantage. Whether responding to market disruption, managing growth, navigating uncertainty or leading digital transformation, influential executives understand that different circumstances require different approaches. Equally important is the growing relationship between business performance and social responsibility. Today’s most respected leaders recognise that sustainable success depends on more than financial results. Ethical governance, employee engagement, sustainability, community impact and stakeholder trust are becoming fundamental measures of corporate leadership. This distinguished list brings together individuals who have built successful enterprises, expanded established businesses and opened new avenues for growth. Their contributions to Oman’s economy extend beyond their organisations, supporting job creation, strengthening trade, empowering SMEs and contributing to community development. Their stories demonstrate that influence is not measured solely by the scale of a business or the numbers on a balance sheet. It is also measured by the opportunities created, industries transformed and people inspired.
OommenJohn
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All rights reserved. No part of this publication may be reproduced without the written permission of the publisher. The publisher does not accept responsibility for any loss occasioned to any person or organisation acting or refraining as a result of material in this publication. OER accepts no responsibility for advertising content. Copyright © 2026 United Press & Publishing LLC Printed by Oman Printers & Stationers Ltd. Co. S.P.C. Correspondence should be sent to: Oman Economic Review United Media Services PO Box 3305, Ruwi 112, Sultanate of Oman Fax: (968)24707939 Website: www.oerlive.com For editorial enquiries: 99884854 For advertising enquiries: 99267159
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SHAPING MINDS Your cover story on the 100 Most Influential CEOs in Oman celebrates leaders who are shaping businesses, driving growth and influencing Oman’s economic future through vision, resilience and decisive action. This year’s edition comes at a time when the global business outlook is increasingly uncertain. PwC’s 29th Global CEO Survey shows CEO confidence in near-term revenue growth at a five-year low, with just 30 per cent confident about the next 12 months. Technology, particularly AI, is adding urgency to the transformation agenda. 42 per cent of CEOs see the pace of technological change as their biggest concern. Yet only 12 per cent say AI has delivered both cost and revenue benefits, highlighting the widening gap between experimentation and meaningful execution. In this environment, influence is about more than holding the corner office. It is about turning uncertainty into opportunity, strategy into action and innovation into lasting value. Kenneth Abraham, MQ
GAINING TRACTION Tourism in Oman is gaining strong momentum, and the Khareef season in Dhofar has become one of the major drivers of this growth. Salalah’s green landscapes, cool weather and unique monsoon experience continue to attract visitors from across Oman and the Gulf. Data from Oman Airports showed that the number of passengers arriving at the airport during the same period reached 154,529, compared to 142,488 passengers during the same period in 2025, registering an increase of 12,041 passengers, or a growth rate of approximately 8 percent. This growth in flight and passenger traffic coincides with the Khareef Dhofar season of 2026, which witnesses a growing influx of visitors from within the Sultanate of Oman and abroad, who come to enjoy the autumnal weather that characterizes the Dhofar Governorate during this period. The impact of Khareef extends beyond tourism statistics. Hotels, restaurants, transport operators, retailers, tour companies and small businesses all benefit from the seasonal surge. It also gives Oman an opportunity to showcase Dhofar’s natural beauty and cultural heritage to a wider international audience. As tourism expands, Oman should ensure that infrastructure, roads, public services and environmental protection keep pace with visitor numbers. The success of Khareef demonstrates that well-promoted natural attractions can significantly strengthen Oman’s tourism economy. Nazar Mohammed, Samail
2
July 2026
INSIDE
13
COVER STORY
10
50MOST
INTERVIEW
FUTURE READY
INFLUENTIAL LEADERS IN BUSINESS
Mohsin Hani Al-Bahrani, CEO, MHD ACERE shares how bold investments, digital innovation and a commitment to Oman Vision 2040 are positioning the company for sustainable long-term growth
32 BUILT ON TRUST, DRIVEN BY EXCELLENCE As Oman’s real estate market evolves, Hayyan Al Lawati, Managing Director, Al Habib & Co., shares his insights on emerging market opportunities, the need for stronger regulation and robust data
38 TRADE
TRUSTED PARTNERSHIP The India–Australia Uranium Agreement will fuel the future
Editorial . ...................... 1
Business Briefs . .......... 4
ECONOMY
TECHNOLOGY
LIFESTYLE
LEADERSPEAK
LISTINGS
VIDEO
Technology ................ 31
In The News ............... 41
Industry . .................... 46
Real Estate ................. 48
Billboard . ................... 50
Automotive . ............... 52
Bitcoin nears $65,000 as softer inflation boosts market sentiment Bitcoin rebounded this week after softer-than-expected US inflation data lifted sentiment across financial markets
Oman’s refinery production declines 6.8 percent to 89.91 million barrels in May 2026 The total output of refineries in the Sultanate of Oman declined 6.8 percent to 89,916,500 barrels by the end of May 2026, compared with 96,521,600 barrels during the same period in 2025
Infobip research reveals businesses scaling AI-powered defenses to counter surge in automated fraud New research from global AI-first cloud communications platform Infobip reveals a growing surge in AI-powered fraud and enterprise defenses
BUSINESS BRIEFS Bank Muscat posts net profit of RO137.49mn for the six months ended June 30, 2026 Bank Muscat has announced its preliminary unaudited results for the six months period ended June 30, 2026. The Bank posted a net profit of RO137.49mn for the period compared to RO125.82mn reported during the same period in 2025, an increase of 9.3 per cent. The key highlights of the results for the period are as follows: Net Interest Income from Conventional Banking and Net Income from Islamic Financing stood at RO 210.49mn for the six months period ended June 30, 2026 compared to RO206.44mn for the same period in 2025, an increase of 2.0 per cent; Non-interest income was RO92.23mn for the six months period ended June 30, 2026 as compared to RO81.83mn for the same period in 2025, an increase of 12.7 per cent, mainly
due to growth in business volumes and higher investment income; Operating expenses for the six months period ended June 30, 2026 was RO 114.38mn as compared to RO108.08mn for the same period in 2025, an increase of 5.8 per cent; Net impairment losses on financial assets for the six months period ended June 30, 2026 was RO24.30mn as against RO30.16mn for the same period in 2025; Net Loans and advances including Islamic financing receivables increased by 6.2 per cent to RO11,392mn as against RO10,724mn as at June 30, 2025; Customer deposits including Islamic customer deposits increased by 13.2 per cent to RO11,182mn as against RO9,879mn as at June 30, 2025.
ended June 30, 2026 along with the complete set of unaudited financial statements will be released following the approval of the Board of Directors of the Bank at its meeting scheduled later during July 2026.
The full results for the six months period
ahli Islamic Money Market Fund surpasses RO100mn in Assets Under Management The ahli Islamic Money Market Fund, managed by ahlibank Asset Management, has surpassed RO100mn in assets under management, marking a significant milestone in the Fund’s growth journey and reinforcing its position as the Sultanate’s largest Islamic money market fund. The milestone reflects sustained confidence from a diversified investor base comprising individual, wealth-management and institutional investors. It also highlights growing demand for professionally managed Sharia-compliant liquidity solutions that combine capital preservation, daily liquidity and prudent return generation. The Fund’s continued growth has been supported by its disciplined investment approach and consistent performance. As of May 31, 2026, the Fund’s running yield stood at 4.6 per cent, while its annualized return was 4.7 per cent over six months, 4.6 per cent over 12 months and 4.8 per cent since inception. The Fund continues to maintain a strong focus on liquidity, portfolio quality and risk management. Commenting on the milestone, Hanaa Mohammed Al Kharusi, Senior General Manager – Wholesale Banking at ahlibank, said, “Surpassing RO100mn in assets under management is an important endorsement of the confidence investors 4
July 2026
place in the Fund and in ahlibank’s Islamic asset-management capabilities. Investors are increasingly seeking solutions that offer liquidity, professional oversight and alignment with their values. The Fund’s continued growth reflects its relevance as a flexible and well-managed solution for individual, wealthmanagement and institutional investors alike.” Noora Sabah Jawad Sultan, Chairperson of the ahli Islamic Money Market Fund, added, “This
achievement has been built on a disciplined investment framework centered on capital preservation, liquidity and prudent return generation. Each investment is supported by rigorous due diligence, robust risk-management processes and comprehensive Sharia oversight. This approach has enabled the Fund to maintain high standards of portfolio quality and consistency while continuing to deliver value to investors across varying market conditions.”
Bank Nizwa credit cards deliver greater value through exclusive rewards and flexible banking solutions Reinforcing its commitment to delivering value-added financial solutions, Bank Nizwa’s Sharia-compliant credit cards continue to offer customers a comprehensive range of exclusive benefits and flexible banking solutions. Cardholders enjoy access to VIP airport lounges, exclusive discounts, advanced security features, and Nizwa Plus points rewards. Bank Nizwa’s comprehensive Mastercard credit card portfolio — comprising the Gold, Titanium, Platinum, and World Credit Cards — combines valuable rewards with secure, fully Sharia-compliant banking services, tailored to meet the diverse needs and lifestyles of its customers. The Gold and Titanium Credit Cards offer customers exclusive shopping and lifestyle privileges, including access to exclusive offers through Mastercard’s Priceless platform. For customers seeking a premium lifestyle
pick-up and drop-off, home check-in facilities, VIP valet parking at Mall of Oman, and an extensive selection of exclusive lifestyle offers.
experience, the Platinum Credit Card delivers higher credit limits alongside travel-related perks, including complimentary airport lounge access and exclusive offers and discounts. The World Credit Card offers an elevated proposition tailored to frequent travelers and high-spending customers, featuring access to more than 1,000 airport lounges worldwide, comprehensive travel protection, complimentary airport chauffeur
Commenting on the offering, Mohamed Al Ghassani, Chief Retail Banking Officer at Bank Nizwa, said, “At Bank Nizwa, our customercentric approach drives us to continuously innovate and deliver solutions that align with the evolving lifestyles and financial aspirations of our customers. Our credit cards are a testament to this commitment — combining the principles of Sharia-compliant banking with the convenience, security, flexibility, and rewards that modern consumers expect. By transforming everyday spending into meaningful rewards, we are empowering our cardholders to enjoy greater value with every transaction, while reinforcing our commitment to a banking experience that goes beyond financial services.”
30 customers receive gold bars as Sohar International and Sohar Islamic conclude rewards campaign Underscoring its focus on making banking more rewarding, Sohar International, together with its Islamic banking window, Sohar Islamic, celebrated a total of 30 winners of its ‘Bold Steps, Golden Rewards’ programme at a special event held at Intercity Hotel, Muscat. Each winner was presented with a gold bar, bringing the initiative to a memorable conclusion and giving tangible
form to a campaign built around rewarding meaningful financial choices. Eng. Aisha Al Saifi, Chief Transformation Officer, and Fahad Al Zadjali, Head of Islamic Banking, attended the event, welcoming and congratulating the winners, reflecting the institution’s active role in the campaign and the importance its leadership placed on the occasion. Commenting on the
campaign, Abdul Qadir Al Sumali, Chief Retail & Premier Banking Officer at Sohar International, said, “Customers have a genuine choice in where and how they bank, and we do not take that choice for granted. ‘Bold Steps, Golden Rewards’ was intended to encourage more customers to begin a relationship with Sohar International and give existing customers further reasons to engage with us. Behind each of those decisions is a measure of confidence and ambition. By linking them to the chance to win gold, we wanted the campaign to reflect the progress that comes with making a positive change.” Fahad Al Zadjali, Head of Islamic Banking, added, “Our focus now is to build on the relationships the campaign helped create and strengthen. Sustaining them requires consistency and the same care at every stage. Throughout the initiative, we had several opportunities to interact with customers, while the winners’ event added a personal dimension to the overall experience. This is how individual moments develop into relationships that continue well beyond a campaign.”
CSR
Beyond Beyond Banking Banking Beyond Beyond Banking Banking Beyond Beyond Banking Banking ahlibank ahlibankContinues Continuestoto ahlibank ahlibankContinues Continuestoto Create CreateLasting Lasting Social Social Impact Impact ahlibank ahlibank Continues Continues toto Create CreateLasting LastingSocial SocialImpact Impact Through Through Purpose-Driven Purpose-Driven Initiatives Initiatives Create Create Lasting Lasting Social SocialImpact Impact Through ThroughPurpose-Driven Purpose-DrivenInitiatives Initiatives Through ThroughPurpose-Driven Purpose-DrivenInitiatives Initiatives Corporate CorporateSocial SocialResponsibility Responsibility Corporate Corporate Social Social Responsibility Responsibility remains remains aa strategic strategic pillar pillar ofof ahlibank's ahlibank's Corporate Corporate Social Social Responsibility Responsibility remains remains aa strategic strategic pillar pillar ofvalue of ahlibank's ahlibank's commitment commitment to to creating creating value beyond beyond
remains remains a Throughout a strategic strategic pillar pillar ofvalue of ahlibank's ahlibank's commitment commitment totocreating creating value beyond beyond banking. banking. Throughout the the year, year, the the commitment commitment to tocreating creating value value beyond beyond banking. banking. Throughout Throughout the the year, year, the the bank bank and and ahli ahli islamic islamic continued continued to to banking. banking. Throughout Throughout the the year, year, the the bank bankand and ahli ahliislamic islamic continued continued to to deliver deliver impactful impactful initiatives initiatives across across bank bank and and ahli ahliislamic islamic continued continued toto deliver deliver impactful impactful initiatives initiatives across across key key developmental developmental areas, areas, working working deliver deliver impactful impactful initiatives initiatives across across key key developmental developmental areas, areas, partners working working alongside alongside trusted trustedcharitable charitable partners key key developmental developmental areas, areas, working working alongside alongside trusted trusted charitable charitable partners partners and and supported supported byby the the dedicated dedicated ahli ahli alongside alongside trusted trusted charitable charitable partners partners and andsupported supported byteam. by the thededicated dedicated ahli ahli Cares Cares volunteer volunteer team. and andsupported supported byteam. bythe thededicated dedicatedahli ahli Cares Cares volunteer volunteer team. Cares Cares volunteer volunteer team. Through Through four fourteam. key keypillars, pillars,ahlibank ahlibank Through Through four key keypillars, pillars, ahlibank delivers delivers four initiatives initiatives that that ahlibank provide provide Through Through four key keypillars, pillars, ahlibank delivers delivers four initiatives initiatives that that ahlibank provide provide immediate immediate support support while while creating creating delivers delivers initiatives initiatives that that provide provide immediate immediate support support while while creating creating long-term long-term social social value, value, reflecting reflecting itsits immediate immediate support support while while creating creating long-term long-term social socialvalue, value, reflecting itsits enduring enduring commitment commitment toreflecting tocompassion, compassion, long-term long-term social social value, value, reflecting itsits enduring enduring commitment commitment toreflecting tocompassion, compassion, partnership partnership and and sustainable sustainable community community enduring enduringcommitment commitment toSultanate. tocompassion, compassion, partnership partnership and and sustainable sustainable community community development development across across the the Sultanate. partnership partnership and and sustainable sustainable community community development development across across the the Sultanate. Sultanate. development development across across the the Sultanate. Sultanate.
Healthcare Healthcare&&Inspiring InspiringHope Hope Healthcare Healthcare&&Inspiring InspiringHope Hope Healthcare Healthcare&&Inspiring InspiringHope Hope
Improving Improving access access toto healthcare healthcare Improving Improving access access toto healthcare healthcare and and supporting supporting vulnerable vulnerable patients patients Improving Improving access access toto healthcare healthcare and and supporting supporting vulnerable vulnerable patients patients remained remained one one ofof ahlibank’s ahlibank’s highest highest and and supporting supporting vulnerable vulnerable patients patients remained remained one oneofof ahlibank’s ahlibank’s highest highest priorities priorities throughout throughout the the year. year. Working Working remained remained one one of of ahlibank’s ahlibank’s highest priorities priorities throughout throughout the the year. year. Working Working alongside alongside charitable charitable partners partnershighest and and priorities priorities throughout throughout the the year. year. Working Working alongside alongside charitable charitable partners partners and and healthcare healthcare institutions, institutions, the the bank bank alongside alongside charitable charitable partners partners and and healthcare healthcare institutions, institutions, the the bank bank provided provided essential essential medical medical equipment, equipment, healthcare healthcare institutions, institutions, the the bank bank provided provided essential essential medical medical equipment, equipment, supported supportedpatients patientsand andtheir theirfamilies families provided provided essential essential medical equipment, equipment, supported supported patients patients and andtheir their families families throughout throughout their theirmedical treatment treatment journey, journey, supported supported patients patients and andtheir their families families throughout throughout their their treatment treatment journey, journey, and and introduced introduced initiatives initiatives that that brought brought throughout throughout their their treatment treatment journey, journey, and and introduced introduced initiatives initiatives that that brought brought comfort, comfort, hope hope and and dignity dignity to to those those and and introduced introduced initiatives initiatives that that comfort, comfort, hope hope and anddignity dignity tobrought tobrought those those facing facing difficult difficult circumstances. circumstances. comfort, comfort, hope hope and anddignity dignitytotothose those facing facing difficult difficult circumstances. circumstances. facing facing difficult difficult circumstances. circumstances.
The Thebank bankalso alsoextended extendeditsitssupport support The Thebank bank also also extended extended itsitsfamilies support support beyond beyond medical medical care care byby helping helping families The The bank bank also also extended extended itsitsfamilies support support beyond beyond medical medical care care byby helping helping families access access safe safe accommodation accommodation during during beyond beyond medical medical care care by by helping helping families families access access safe safe accommodation accommodation during during treatment treatmentand andfulfilling fulfillingthe thewishes wishes ofof access access safe safe accommodation accommodation during during treatment treatment and and fulfilling fulfilling the the wishes wishes ofof critically critically illill patients patients through through itsits “Making “Making treatment treatment and and fulfilling fulfilling the the wishes ofof critically critically illCome ill patients patients through through itswishes its “Making “Making Dreams Dreams Come True True and and Inspiring Inspiring Hope Hope critically critically illCome ill patients patients through through itsits “Making “Making Dreams Dreams Come True True and and Inspiring Inspiring Hope Hope Campaign”. Campaign”. The The bank bank also also concluded concluded itsits Dreams Dreams Come Come True True and and Inspiring Inspiring Hope Hope Campaign”. Campaign”. The The bank bank also also concluded concluded itsits annual annual Blood Blood Donation Donation Drive, Drive, bringing bringing Campaign”. Campaign”. The The bank bank also also concluded concluded itsits annual annual Blood Blood Donation Donation Drive, Drive, bringing bringing together together employees employees and and volunteers volunteers annual annual Blood Blood Donation Donation Drive, Drive, bringing bringing together together employees employees and and volunteers volunteers to to support support community community health health and and together employees employees and and volunteers volunteers totogether to support support community community health health and and strengthen strengthen the the national national blood blood supply supply to to support support community community health health and and strengthen the the national national blood blood supply supply instrengthen in collaboration collaboration with with The The Central Central Blood Blood strengthen strengthen the the national national blood blood supply supply in in collaboration collaboration with with The The Central Central Blood Blood Bank. Bank. inBank. in collaboration collaboration with with The The Central Central Blood Blood Bank. Bank. Bank.
Driving DrivingPositive PositiveChange Change Driving Driving Positive Positive Change Change Across AcrossFour Four Key Key Areas Areas Driving Driving Positive Positive Change Change Across AcrossFour Four Key Key Areas Areas Across AcrossFour FourKey KeyAreas Areas
Community Community Iftar Iftar forfor 25+ 25+ pediatric pediatric oncology oncology Community Community Iftar Iftar forfor 25+ 25+ patients patients and and families families pediatric pediatric oncology oncology Community Community Iftar Iftar forfor 25+ 25+ patients patients and and families families pediatric pediatric oncology oncology patients patients and and families families Healthcare Healthcare && Inspiring Inspiring Hope Hope Healthcare Healthcare && Inspiring Inspiring Hope Hope Healthcare Healthcare && Inspiring Inspiring Hope Hope
Education Education && Financial Financial Education Education && Empowerment Empowerment Financial Financial Education Education && Empowerment Empowerment Financial Financial Empowerment Empowerment
SME SME SME SME & & Development Development SME SME & & Development Development Entrepreneurship Entrepreneurship Development Development && Entrepreneurship Entrepreneurship Entrepreneurship Entrepreneurship
Community Community Community Community Engagement Engagement && Community Community Engagement Engagement && Volunteerism Volunteerism Engagement Engagement && Volunteerism Volunteerism Volunteerism Volunteerism
Essential Essential medical medical equipment equipment Essential Essential medical medical 1010 provided provided to to equipment equipment Essential Essential medical medical low-income low-income 1010 provided provided toto equipment equipment patients patients low-income low-income 1010 provided provided toto patients patients low-income low-income patients patients
One One year year ofof accommodation accommodation One One year year ofof 30+ 30+ support support benefiting benefiting accommodation accommodation One One year year of of patient patient families families 30+ 30+ support support benefiting benefiting accommodation accommodation patient patient families families 30+ 30+ support support benefiting benefiting patient patient families families
25+ 25+ Medical Medical beds 25+ 25+ beds donated donated Medical Medical beds 25+ 25+ beds across across 6beds 6beds donated donated Medical Medical wilayats wilayats across across 66 donated donated wilayats wilayats across across 66 wilayats wilayats
Wishes Wishes Wishes Wishes fulfilled fulfilled forfor Wishes Wishes fulfilled fulfilled forfor 10 10 critically critically fulfilled fulfilled forfor 10 10 critically critically ill patients ill patients 10 10 critically critically ill patients ill patients ill patients ill patients
Education & Financial Education Education&&Financial Financial Education Education&&Financial Financial Empowerment Empowerment Empowerment Empowerment Empowerment Believing that education is Believing Believing that that of education education is is the foundation sustainable Believing that education is is Believing that of education the the foundation foundation of sustainable sustainable development, ahlibank continued to the foundation of sustainable the foundation of sustainable development, development, ahlibank ahlibank continued toto invest in programs that continued equip young development, ahlibank continued toto development, ahlibank continued invest invest inin programs programs that that equip equip young young people with practical financial invest in programs that equip young invest programs that equip young people peoplein with with practical practical financial knowledge and digital skills.financial people with practical financial people with practical financial knowledge knowledge and and digital digital skills. skills. knowledge and digital skills. knowledge and digital skills. Through interactive financial Through Through interactive interactive financial financial literacy workshops, orphaned Through interactive financial Through interactive orphaned financial literacy literacygained workshops, workshops, orphaned youth valuable insights literacy workshops, orphaned literacygained workshops, orphaned youth youth gained valuable valuable insights insights into personal finance, insights digital youth gained youthpersonal gained valuable valuable insights into into personal finance, finance, digital digital innovation and thefinance, responsible use into personal digital into personal finance, digital innovation innovation and and the the responsible responsible use use of emergingand technologies. The bank innovation the responsible use innovation and the responsible use of of emerging emerging technologies. technologies. The Thebank bank also helped children undergoing of technologies. The ofemerging emerging technologies. Thebank bank also also helped helped children children undergoing undergoing cancer treatment continue their also children undergoing also helped helped children undergoing cancer cancer treatment treatment continue continue their their education by providing tablets and cancer treatment continue their cancer treatment continue their education education by by providing providing tablets tablets and and iPads for remote learning, ensuring education by tablets and education byproviding providing tablets and iPads iPads for for remote remote learning, learning, ensuring ensuring uninterrupted access to schooling iPads learning, ensuring iPadsfor forremote remote learning, ensuring uninterrupted uninterrupted access access to to schooling schooling during treatment. uninterrupted access uninterrupted accesstotoschooling schooling during during treatment. treatment. during treatment. during treatment.
Strengthening Strengthening Strengthening Strengthening Strengthening Communities Communities Communities Communities Communities
25+ Youth Empowered 25+ 25+Youth Youth Empowered Empowered Through Financial Literacy 25+ Youth Empowered 25+ Youth Empowered Through Through Financial Financial Literacy Literacy Through Financial Literacy Through Financial Literacy
Training included: Training Training included: included: Training included: Training included: Financial literacy Financial Financial literacy literacy Financial literacy Financial literacy
Digital innovation Digital Digital innovation innovation Digital innovation Digital innovation
Personal financial planning Personal Personal financial financial planning planning Personal Personal financial planning financial planning
AI awareness and practical AI AI awareness awareness and and applications practical practical AI AI awareness and awareness and applications applications practical practical applications applications
25+ children undergoing 25+ 25+children children undergoing undergoing cancer treatment 25+ children undergoing 25+ children undergoing cancer cancer treatment treatment supported with tablets and
cancer treatment cancer supported supported with with tablets tablets and and iPads for treatment online learning supported with tablets and supported with tablets and iPads iPads forfor online online learning learning iPads forfor online learning iPads online learning
Community engagement continued to be Community Community continued continued toto bebe at the heartengagement ofengagement ahlibank’s CSR strategy. Community engagement continued toto bebe Community engagement continued at at the the heart heart of of ahlibank’s ahlibank’s CSR CSR strategy. strategy. Through bothofconventional andstrategy. Islamic at the heart ahlibank’s CSR at the heart of ahlibank’s CSR strategy. Through Through both both conventional conventional and and Islamic Islamic branch networks, employees across Through both conventional and Islamic Through both conventional and Islamic branch branch networks, networks, employees employees across across the Sultanate engaged with charitable branch networks, employees across branch networks, employees across the the Sultanate Sultanate engaged engaged with with charitable charitable organizations to deliver initiatives the Sultanate engaged with charitable the Sultanate engaged with charitable organizations organizations toto deliver deliver initiatives initiatives that supported families across various organizations tofamilies initiatives organizations to deliver deliver initiatives that thatsupported supportedfamilies across across various various governorates. that supported families across that supported families acrossvarious various governorates. governorates. governorates. governorates. Employee volunteering through the Employee Employee volunteering volunteering through through the the ahli Cares program remained a driving Employee volunteering through the Employee volunteering through the ahli ahli Cares Cares program program remained remained a a driving driving forceCares behind many remained of these initiatives, ahli program ainitiatives, driving ahli Cares program remained a driving force force behind behind many many of of these these initiatives, helping expand the reach of initiatives, the bank’s force many ofreach forcebehind behind many ofthese these initiatives, helping helping expand expand the the reach offostering of the the bank’s bank’s community efforts while a helping expand the reach offostering the bank’s helping expand the reach of the bank’s community community efforts efforts while while fostering aa culture of compassion, generosity and community efforts fostering aa community effortswhile while fostering culture culture of of compassion, compassion, generosity generosity and and social responsibility. culture ofofcompassion, culture compassion,generosity generosityand and social social responsibility. responsibility. social responsibility. social responsibility.
15 ahli islamic 15 15ahliahliislamic islamic branches delivered 15 islamic branches branches delivered delivered 15ahliahli islamic Kiswat Eid initiatives branches delivered Kiswat Kiswat Eid Eid initiatives initiatives branches delivered Kiswat Eid initiatives Kiswat Eid initiatives
12 conventional 12 12conventional conventional branches organized local 12 branches branches organized organized local local 12conventional conventional community programs branches organized local community community programs programs branches organized local community programs community programs 100+ employees 100+ 100+employees employees engaging in volunteerism 100+ engaging engaging in in volunteerism volunteerism 100+employees employees through ahli Cares team engaging in volunteerism through through ahli ahli Cares Cares team team engaging in volunteerism through ahli Cares team through ahli Cares team
Empowering SMEs & Empowering EmpoweringSMEs SMEs&& Empowering EmpoweringSMEs SMEs&& Entrepreneurship Entrepreneurship Entrepreneurship Entrepreneurship Entrepreneurship
Supporting entrepreneurship remains Supporting Supporting entrepreneurship remains remains central to entrepreneurship ahlibank's contribution Supporting entrepreneurship remains Supporting entrepreneurship remains central central to to ahlibank's ahlibank's contribution contribution to Oman’s economic development. central to ahlibank's contribution central to ahlibank's contribution to to Oman’s Oman’s economic development. development. Through the economic fourth edition of the to Oman’s economic development. to Oman’s economic development. Through Through the the fourth fourthedition edition ofofthe the ahlibank Souq, organized in partnership Through the fourth edition ofofthe Through theorganized fourth in edition the ahlibank ahlibank Souq, Souq, organized in partnership partnership with Riyada, the bank created ahlibank Souq, organized in partnership ahlibank Souq, organized in partnership with with Riyada, Riyada, the the bank bank created created opportunities fortheSMEs, productive with Riyada, bank created with Riyada,for bank created opportunities opportunities forthe SMEs, SMEs, productive productive families, women associations, and opportunities for SMEs, productive opportunities for associations, SMEs, productive families, families, women women associations, and and community organizations to showcase families, women associations, and families, women associations, and community communityorganizations organizations totoshowcase showcase community communityorganizations organizationstotoshowcase showcase
70+ 70+ 70+ SME 70+ 70+ SME SME exhibitors
SME SME exhibitors exhibitors exhibitors exhibitors
3000+ 3000+ 3000+ Visitors 3000+ 3000+ Visitors Visitors Visitors Visitors
their businesses and connect with new their their businesses businesses and and connect connect with with new new customers. their businesses and connect with new their businesses and connect with new customers. customers. customers. customers. The event also celebrated Omani The The event event also also celebrated celebrated Omani Omani heritage through traditional Ramadan The event also celebrated Omani The event also celebrated Omani heritage heritage through through traditional traditional Ramadan Ramadan activities, reinforcing the bank’s heritage traditional Ramadan heritagethrough through traditional Ramadan activities, activities, reinforcing reinforcing the the bank’s bank’s commitment to supporting local activities, the activities, reinforcing reinforcing the bank’s bank’s commitment commitment to to supporting supporting local local enterprise while strengthening commitment towhile local commitment to supporting supporting local enterprise enterprise while strengthening strengthening community engagement. enterprise while enterpriseengagement. while strengthening strengthening community community engagement. community engagement. community engagement.
Dedicated spaces for Sidab Women, Dedicated Dedicated spaces spaces forforSidab Sidab Women, Women, Al Rahma Association and the Dedicated spaces forforSidab Women, Dedicated spaces Sidab Women, Al Al Rahma Rahma Association Association and and the the Ministry of Social Development Al Rahma Association and Al Rahma Association andthe the Ministry Ministry ofofSocial SocialDevelopment Development Ministry MinistryofofSocial SocialDevelopment Development
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INTERVIEW
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July 2026
FUTURE READY
Mohsin Hani Al-Bahrani, CEO, MHD ACERE shares how bold investments, digital innovation and a commitment to Oman Vision 2040 are positioning the company for sustainable long-term growth. An OER Report What’s the single biggest strategic bet MHD ACERE is making today, and why are you confident it will create long-term value for the business despite market uncertainties? Our biggest strategic bet is transforming MHD ACERE from a traditional automotive distributor into a future-ready mobility and customer solutions business. The industry is undergoing structural change, driven by electrification, digitalisation, changing consumer expectations, and the emergence of new mobility ecosystems. Rather than reacting to these shifts, we have chosen to position ourselves ahead of them. This transformation extends beyond the products we represent. We are investing in customer experience, digital retail, EV infrastructure, renewable energy, aftersales excellence, and experiential brand engagement. Initiatives such as the Jetour Experiential Centre, the expansion of our EV charging infrastructure, and the strengthening of our integrated mobility ecosystem reflect this long-term direction. I remain confident because the fundamentals driving this transition are not short-term trends, they represent the future of mobility. While markets may fluctuate, customer expectations will continue to evolve toward convenience, sustainability, and seamless experiences. By building capabilities that address those longterm shifts, we are creating a business that is more resilient, diversified, and relevant for the future. Oman Vision 2040 is reshaping the country’s economic landscape. How is MHD ACERE translating the Vision’s priorities into measurable business outcomes, investments and
talent development? Oman Vision 2040 has become an important strategic framework for how we shape our business priorities. We view the Vision not simply as a national agenda, but as an opportunity to contribute meaningfully to the country’s long-term economic transformation. Our investments in clean mobility, EV infrastructure, renewable energy, and advanced engineering solutions directly support the Vision’s sustainability and economic diversification objectives. At the same time, we continue expanding customer-centric mobility solutions and supporting national infrastructure projects through strategic partnerships and advanced equipment deployment. Talent development is equally important. Sustainable growth requires strong local capabilities, which is why we continue investing in training and professional development. The MHD ACERE Training Center reflects our commitment to developing Omani talent while maintaining international standards and supporting Omanisation objectives. Ultimately, success is measured not only through business growth, but through our contribution to building capabilities, creating opportunities, and supporting Oman’s transition toward a knowledge-based and innovationdriven economy. From your perspective, what is the biggest opportunity under Oman Vision 2040 that the private sector has yet to fully capitalise on, and what needs to happen to unlock its potential? One of the greatest untapped opportunities lies in building integrated mobility and sustainability ecosystems
rather than focusing on individual industries in isolation. Oman Vision 2040 creates enormous potential in areas such as clean transportation, renewable energy, smart infrastructure, and digital services. These sectors are interconnected, and the greatest value will come from businesses that collaborate across industries rather than operate within traditional boundaries. Unlocking this opportunity requires stronger partnerships between government, private enterprise, technology providers, educational institutions, and investors. It also requires continued investment in local talent, innovation, and digital capabilities so that Oman develops not only as a consumer of technology, but also as a creator of solutions. Businesses that think beyond conventional business models and align commercial success with national development will be best positioned to create long-term value. With electric mobility, artificial intelligence and the rapid rise of Chinese automotive brands transforming the industry, what will separate the market leaders from the rest over the next three years? Technology alone will not determine leadership, execution will. The next generation of market leaders will differentiate themselves by delivering complete customer ecosystems rather than simply selling vehicles. Success will depend on combining digital experiences, intelligent aftersales, connected services, sustainable mobility solutions, and strong brand engagement. Chinese automotive manufacturers
INTERVIEW
represent meaningful evolution while remaining true to our purpose of contributing to Oman’s development and delivering lasting value to our customers. Leadership, in my view, is about respecting tradition while having the courage to make decisions that prepare the organisation for opportunities the previous generation could not have imagined. Every CEO faces defining moments that shape both the business and their leadership. What has been your most significant decision so far and what did it teach you about leading through change? The defining moment came when I assumed the role of CEO at the onset of the COVID-19 pandemic. It was a period of extraordinary uncertainty, requiring rapid decisions while maintaining confidence among employees, customers, and partners. We responded by accelerating digital transformation, consolidating business verticals to improve efficiency, and have accelerated innovation and brought remarkable speed to product development. Their growing presence is encouraging the entire industry to become more agile and customerfocused. At MHD ACERE, we see this as an opportunity to continuously raise standards while delivering premium ownership experiences that extend well beyond the initial purchase. Artificial intelligence will further transform customer engagement, predictive maintenance, operational efficiency, and decision-making. However, technology creates value only when combined with trusted relationships, skilled people, and exceptional customer service. Those organisations that successfully integrate innovation with operational excellence will define the industry’s future. As a third-generation business leader carrying forward a legacy of leadership and innovation, how do 12
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you balance preserving the values that built the family enterprise with making bold decisions that challenge convention and drive future growth? A family business earns its reputation over generations through trust, integrity, and long-term commitment. Those values should never change. What must continue evolving is the way we serve customers, compete in the marketplace, and create value.
launching online vehicle purchasing
I see my responsibility as preserving the principles that built our organisation while ensuring the business remains relevant for the next generation. Innovation should strengthen a company’s heritage, not replace it.
but as an opportunity to accelerate
That philosophy has guided decisions such as expanding into EV infrastructure, renewable energy, experiential automotive retail, healthcare, digital platforms, and new mobility solutions. These initiatives
platforms while strengthening customer engagement through digital channels. These decisions enabled us to maintain business continuity while positioning the organisation for future growth. The experience reinforced an important leadership lesson: change should not be viewed as a disruption to manage, transformation. It also reminded me that leadership is ultimately about people. During periods of uncertainty, transparency, adaptability, and a shared sense of purpose become more valuable than any strategy on paper. That experience continues to influence how I lead today. I believe resilient organisations are built not by avoiding change, but by embracing it with clarity, discipline, and the confidence to think beyond immediate challenges.
POWER LIST 2026 MOST INFLUENTIAL PEOPLE IN BUSINESS OER’s listing of the most influential people in business profiles 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
COVER STORY
Sheikh Abdullah Ali Al Araimi Chairman Al-Raid Group
Dr Adil bin Said Al Shanfari
Sheikh Ahmed bin Sultan Al Hosni
Vice Chairman & CEO Shanfari Group of companies
Chairman Qurum Business Group
Growth catalyst
Dynamic entity
Value creation
Sheikh Abdullah Al Araimi exemplifies a unique brand of entrepreneurship that found inspiration in the modern Renaissance ushered in by the late His Majesty Sultan Qaboos in 1970. Enthused by a vision to support the budding nation’s economic development, he set up Al Raid Corporation in 1974. Over 47 years on, the company has blossomed 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 strategic direction to the Group, guiding its management in its 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.
Dr Adil Bin Said Al Shanfari is the vice chairman and CEO of Shanfari Group of companies. He graduated with a degree in business in 1988 from the University of Denver and joined the group in 1994, after spending a few years in the USA. The Shanfari Group, one of the most reputed establishments today, had its humble beginnings in Salalah, Oman in 1960. Formed 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.
Sheikh Ahmed bin Sultan Al Hosni is the founder and chairman of Qurum Business Group, an international diversified business services group with operations across the Middle East, Europe and the Indian subcontinent. Sheikh Ahmed is not only a well-known entrepreneur but was also a very successful senior government official. He 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.
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Ahmed Ali Mohamed Al Araimi Chairman Best Infrastructure Developers LLC (BIS) LLC
Ajit Khimji Chairman Ajit Khimji Group
Akber Mustafa Sultan Vice Chairman Mustafa Sultan Enterprises
Building excellence
Quest for perfection
Diversified excellence
Ahmed Ali Mohamed Al Araimi, Chairman of Best Infrastructure Developers LLC (BIS), has played a key role in shaping the company’s growth and reputation within Oman’s construction sector. Since its establishment in 2009, BIS has built a strong portfolio of major projects, driven by a commitment to quality, safety, reliability and customer satisfaction. Under Al Araimi’s leadership, the company has embraced innovation and continuous development to respond to the evolving demands of the construction industry. His approach places equal emphasis on operational excellence, employee development and responsible business practices, with HSE and quality standards at the core of the company’s operations. Looking ahead, his vision is to strengthen BIS’s position as a national leader while creating lasting value for its stakeholders and contributing positively to Oman’s economic and social development.
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 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.
COVER STORY
Ali Malallah Al Lawati
Ali Mohammed Juma Al Lawati
Chairman Al Habib & Co.
Chairman Al Arkan Construction LLC
Pioneering ventures
Strategic investments
Leading the way
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 into 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.
Ali Mohammed Juma Al Lawati is an Omani businessman and senior executive with over three decades of leadership and investment experience across financial services, capital markets, insurance, construction, and real estate. He is the Founder and CEO of Omnia Properties and Chairman of Al Arkan Construction LLC. His career includes more than two decades as Co-founder and CEO of Vision Investment Services, as well as serving as Founder and Chairman of Vision Insurance, and as a board member of the Muscat Stock Exchange and Oman Development Bank. Throughout his career, Al Lawati has combined entrepreneurship, strategic differentiation, and investment expertise, with a particular interest in the creation of investment opportunities in Oman.
Anil Mathradas Khimji is a senior and prominent Omani business leader and the senior-most Director of the Khimji Ramdas (KR) Group, a family business that is currently in its sixth generation in Oman with over 150 years of operations in the country. With nearly five decades of business experience, he has contributed significantly to the Group’s growth across Oman, the UAE, Saudi Arabia and India. Beyond business, Anil is deeply committed to education, community development and philanthropy. He serves as Chairman of the Eshraqa Foundation, supporting education, healthcare, skills development and the empowerment of Omani youth and women. He is also closely associated with the Indian Social Club, Muscat Gujarati Samaj and the Oman Cricket Board. Known for his compassionate and inclusive leadership, Anil has built a reputation for combining business success with social responsibility and community service.
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Anil Khimji Director Khimji Ramdas Group
Sheikh Al Muhannad Al Hashar Chairman Al Hashar Group
Amal Suhail Bahwan Vice Chairperson Suhail Bahwan Group
Ammar Al Saleh
Chairman Oman Holdings International (OHI)
Widening horizons
Business transformation
Portfolio evolution
Sheikh Al Muhannad Al Hashar is the chairman of Al Hashar Group, one of the pioneering business houses and most progressive and diversified corporations in Oman. The group owes its evolution to the vision of its founding father, Late Sheikh Saeed bin Nasser Al Hashar. And it was Sheikh Al Hashar’s stellar vision that led the company to focus on the needs and wants 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.
As the vice chairperson of Suhail Bahwan Group, 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. 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.
Ammar is the Chairman of Oman Holdings International (OHI). Ammar started his career in the banking sector of Oman and went on to hold several positions before joining the OHI Group. He drives the strategic, operational and independent management of a diverse group of subsidiary companies under the Group umbrella and delivers continuous excellence. He has been integral to the growth of the OHI Group and its diversification into many sectors, particularly media and 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.
COVER STORY
Aqeel Jawad Sultan
Group Chairman Jawad Sultan Group of Companies
Areej Mohsin Darwish Chairperson, Automotive, Construction Equipment and Renewable Energy (ACERE), Mohsin Haider Darwish LLC
Shaping the future
Growth navigator
Aqeel Jawad Sultan is the group chairman for Jawad Sultan Group of Companies. He has been spearheading various strategic activities and giving effect to a combined vision of the family and its promoters. He has also been directing and providing an enabling role from the corporate side to various business units to ensure that the broad business strategy evolved is met with. The group is a multi-faceted business organisation with promoter’s history spanning over six decades in bringing the best of technology solutions, luxury brand retailing, hospitality, tours and travels and mass entertainment to Oman. The group companies include Jawad Sultan Group, Jawad Sultan Technologies, Jawad Sultan International, Jawad Sultan Travel and 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.
Areej Mohsin Darwish is the chairperson of ACERE, Mohsin Haider Darwish (MHD) LLC. Areej studied at Sultan Qaboos University before embarking on her career. She joined MHD LLC in 1994 and under the guidance, support and motivation of her father, she gradually moved up the ladder. Having started at the grass root level and being involved in every division, she grew to understand the business processes minutely. This also prepared her to tackle the challenges of a business house and empowered her to take business decisions early on. Continuing their legacy and leading ACERE, Areej Darwish is an outstanding example of successful women’s empowerment and an inspiration to all industry peers. Her leadership, professional management, ability to spot opportunities has steered the organisation to the heights of success. She is actively involved in the decision-making 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.
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Devaki Gulabsi Khimji Managing Director Al Tasnim Enterprises
Transforming for tomorrow A modern architect of transformation, 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 been instrumental in driving structural reforms across the organisation — streamlining business processes and enhancing administrative frameworks with a strong focus on technology-driven transformation. She has championed the integration of AI and digital tools into essential functions, particularly Health, Safety, and Environment (HSE), delivering measurable gains in productivity 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, she has fostered talent development, employee wellbeing, and community upliftment, strengthening internal culture while building enduring relationships with clients and partners. Blending entrepreneurial agility with structured execution, Khimji has positioned Al Tasnim as a dynamic force in Oman’s Construction, Infrastructure, and Mining sectors — one built on integrity, inclusivity and impact.
Eyhab Al Haj
Executive Director and Co-Founder Hema Energy
Hamed bin Mansoor bin Ali Al Sulaimi Chairman Al Sulaimi Group
Hani M Al Zubair Chairman Zubair Automotive
Energy innovation
Scaling success
Driving diversification
Eyhab Al-Haj is an accomplished Omani business leader, Executive Director and CoFounder of Hema Energy, bringing extensive experience across the oil and gas, investment, business development, corporate strategy, and management sectors. Since co-founding Hema Energy in 2011 and assuming a more active Group Managing Director role in 2019, he has played a key role in developing the group into a focused portfolio of specialized companies operating across Oman and internationally, including China, Saudi Arabia, and the United Kingdom. His professional career includes significant leadership and strategic roles with Hema Energy, Al Hajj Investment & Development, Prosper Management Consultancy, GoPoint, Ooredoo, Petroleum Development Oman (PDO), and Shell. Throughout his career, he has been involved in corporate planning, business and market intelligence, strategic partnerships, project management, commercial strategy, procurement, supply chain management, investment appraisal, and operational improvement. He has also contributed to major projects and initiatives involving significant capital investments, cost optimization, and commercial value creation. Eyhab holds a Financial MBA from Nottingham University and a Bachelor of Engineering in Mechanical Engineering from Imperial College London, complemented by extensive professional training in oil and gas operations, finance, project management, HSE, advanced business systems, and strategic management.
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.
Hani Al Zubair is the chairman of Zubair Automotive Group, the flagship enterprise of the Zubair Corporation - one of Oman’s biggest and diversified business houses. Hani has extensive 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.
COVER STORY
Hind Bahwan Founder and Chairperson Bahwan CyberTek
Hassan Mohammed Juma Chairman and Managing Director Al Osool Group
Hayyan Al Habib Managing Director Al Habib & Co
Digital pioneer
Building value
Realty reinvented
Sheikha Hind Bahwan is the founder and chairperson of Bahwan CyberTek Group which is focused on IT, logistics and engineering projects. She is also the Chairperson of the Omani French Friendship Association, and in 2020 she launched a fragrance brand, Ojar. BCT is a global provider of digital transformation solutions in the areas of Predictive 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.
Hassan Mohammed Juma is a visionary who founded Al Osool Group in 2006. With over 25 years of leadership experience in various aspects of business management, including real estate, industry, project management, banking, and 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.
Hayyan Al Habib is the Managing Director of Al Habib & Co., one of Oman’s longestestablished real estate services firms. Since joining the business in 2005, he has played a central role in its evolution into a modern, multi-disciplinary real estate services company, with expertise spanning property management, valuation, brokerage, leasing, research and advisory. A strong advocate for transparency, professional standards and better market data, Hayyan believes the future of Oman’s real estate sector lies in greater institutionalisation, technology and informed decision-making. His approach combines nearly five decades of institutional experience with a forward-looking vision for an increasingly sophisticated and internationally competitive Omani real estate market.
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July 2026
Imad Kamal Abdul Redha Sultan Vice Chairman and Managing Director Towell Group of Companies
Sayyid Khalid bin Hamad Al Busaidi Chairman SABCO Group
Khalid M Al Zubair Founder Daem Ventures
Steering transformation
Strategic value
Future focussed
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 Promotion7 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.
For more than three decades, Khalid Muhammad AlZubair has played a pivotal role in shaping some of Oman’s most significant enterprises, guided by a belief that lasting value comes from backing the right people, taking a long-term view, and embracing innovation ahead of the curve. As Chairman of Ominvest, Oman’s largest investment holding company, he provided strategic leadership and governance during a period of significant growth and diversification across insurance, banking, real estate and technology. Under his stewardship, the group expanded its international footprint and strengthened its position as a benchmark for disciplined, long-term value creation. As Chairman of Liva Insurance Group, he was a key strategic force behind the platform’s expansion into one of the GCC’s largest multiline insurers. Earlier, as Managing Director of The Zubair Corporation, he spearheaded the growth of the diversified multinational group into international markets, overseeing major projects and strategic initiatives across the region. Today, he is Founder of Daem Ventures, his private investment company and family office, and Co-Founder and Chairman of Thawani Technologies, Oman’s first Central Bank-licensed fintech and operator of the country’s leading digital payments platform for consumers, merchants and government services. Thawani has become a cornerstone of Oman’s rapidly evolving digital payments infrastructure.
COVER STORY
Khalid Said Salem Al-Wahaibi
Khalil Abdullah Mohamed Alkhonji
Diversified portfolio
Lasting value
Unique ventures
Khalid Al-Wahaibi is the vice chairman and managing director of Assarain Group of Companies (a member of the Said Salem Al Wahaibi Group of Companies), a renowned trading and investment group which enjoys a towering presence in the Sultanate. Since its inception in the year 1975, the group has progressed exponentially and established itself as a prestigious entity. Assarain has been in the forefront of the nation’s progress by contributing to the growth of industries in Oman for more than four decades now, and continues to seek excellence in its operations. The group has a number of diversified business entities across a wide spectrum of industries which range from construction, oil & gas, national infrastructure projects, 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.
Khalil Al Khonji is a prominent Omani business leader and former chairman of the Oman Chamber of Commerce & Industry (OCCI). He is currently the chairman of the Al Khonji Group, a company with business activities in the retail, industrial and real estate sectors. He is also the chairman of Muscat University’s board of directors. A graduate in industrial management and Technology from the University of Northern Colorado, US (1986), Khalil was awarded an honorary doctorate in entrepreneurship from the Binary University. He also served on the boards of prestigious public sector undertakings, utilities and councils, including the sixth Five-Year Plan Committee (2006– 2010), Supreme Council Consultative Body, Higher Education Council, Scientific Research Council, Public Authority for Social Insurance, Oman Charitable Organisation, Public Authority for Warehouses and Food 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.
Kiran Asher is the Founder and Group Managing Director of Al Ansari Group of 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.
Managing Director, Assarain Group of Companies & Chairman Al-Omaniya Financial Services
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July 2026
Chairman Al Khonji Group – Oman
Kiran Asher
Founder and Group Managing Director, Al Ansari
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.
HE Lujaina Mohsin Darwish
Chairperson, Infrastructure, Technology, Industrial and Consumer Solutions (ITICS) MHD LLC
Majid Salim Said Hamed Al Fannah Al Araimi Chairman Galfar Engineering & Contracting
Maqbool Bin Ali Bin Sultan
Chairman W J Towell Group of Companies
Leader par excellence
Setting benchmarks
Stellar vision
Her Excellency 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. She is the recipient of the Royal Commendation Medal (Second Class), awarded by His Majesty Sultan Haitham bin Tarik for her distinguished contributions and dedicated service to the nation. A business leader par excellence, HE 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.
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.
Maqbool Bin Ali Bin Sultan is the chairman of W J Towell, one of the oldest family businesses in the Gulf region. He has held several positions including that of Minister of Commerce and Industry of the Sultanate of Oman, for 20 years. WJ Towell & Co 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.
COVER STORY
Dr Mohamed Musa Al-Yousef
Dr Mohammad Bin Al Zubair
Pioneering leadership
Visionary enterprise
Marching ahead
Dr Mohamed M Al Yousef, former minister and chairman of Al Yousef Group, was a key player in the development of Oman’s economy. He was the first Omani Chartered Accountant (FCCA) from UK. He also holds 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 longterm 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.
Dr Mohammad bin Al Zubair is the founder of 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.
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.
Chairman Al Yousef Group
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July 2026
Founder Zubair Corporation
Dr Mohammed Al Barwani Chairman MB LLC
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.
Mohammed Saud Bahwan Chairman Saud Bahwan Group
Collaborative partnerships Sheikh Mohammed Saud Bahwan took over as the chairman of Saud Bahwan Group in 2008. He is the recipient of one of the most prestigious Japanese decorations, ‘The Order of the Rising Sun, Golden and Silver Star’, which was conferred upon him at an 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 Chairman and CEO United Securities
Nailesh Kanaksi Khimji Director Khimji Ramdas
Leveraging expertise
Setting the roadmap
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.
Nailesh Khimji is the fifth-generation business leader of the illustrious Khimji Ramdas group. He upholds the responsibility of reshaping business growth and promoting values of corporate social responsibility in equal measure while creating a roadmap for future generations. After studying business management in Switzerland, he interned at Procter and Gamble before returning to Oman to join the family business. One of his significant contributions has been to change the way the business operates. He brought in professional CEOs to head each cluster, which led to shoring up efficiency and productivity. He also founded Eshraqa, the CSR arm of Khimji Ramdas, which 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.
COVER STORY
Sheikh Qais Salim Al Khalili
Rashad M Al Zubair
Multi-faceted ventures
Steering a legacy
Valuable contributor
Sheikh Qais Salim Al Khalili is the chairman and group managing director of Al Khalili Group, one of the leading multi-faceted infrastructure companies in Oman. Al Khalili which had a modest beginning as a building materials company in 1976, has diversified its business from time to time, venturing into multiples areas covering various segments of business such as building materials, tools and hardware, constructions, electrical, technology, oil and 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 Al Zubair is the current Chairman of the Board of Directors of Ominvest. He is also the Chairman of The Zubair Corporation, one of the Sultanate’s leading diversified business groups, and has served as Chairman of Oman Arab Bank since June 1999. In addition, Al Zubair is the Chairman of The Zubair Holding SAOC and Oasis Water Company SAOC, as well as Vice Chairman of Barr Al Jissah Resort Co SAOC and Vice Chairman and a founding member of Muscat University.
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 Omani-owned 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).
Chairman and Group Managing Director Al Khalili Group
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July 2026
Chairman, The Zubair Corporation & OMINVEST
Throughout his career, Al Zubair has held numerous board and leadership roles across prominent jointstock companies. He previously served as Deputy Chairman of the Oman Business Council and was a member of its founding Board. He also served as Chairman of Oman-Lebanon Business Council in Oman and as the founding Chairman of Oman German Friendship Association. Furthermore, he served as a Director of the Financial Service Authority, the regulatory authority overseeing Muscat Stock Exchange, and was a member of Oman Centre for Governance and Sustainability.
Reem bint Omar Al Zawawi Board Member / Director OMZEST Group
Sadiq Jaffer Sulaiman
Sheikh Saad Suhail Bahwan
Sheikh Salim bin Ahmed Al Ghazali
Redefining real estate
Brand builder
Diverse enterprise
With over 20 years of experience in the real estate industry, Sadiq is recognised for his leadership and expertise, having served as the former CEO and currently as Managing Director of Maysan Properties, as well as the former Chair of the Oman Real Estate Association. His notable achievements include being featured twice on Forbes Middle East’s “100 Most Impactful Leaders in Real Estate” list in 2024 and 2025, in addition to overseeing an advisory and development portfolio valued at $ 2 billion. His portfolio spans Oman and Dubai, with key developments including Maysan Square, Rose Village, and Orchid Branded Residences in Oman; La Residence and Monarch Residences in Dubai; and Centurion Court in London. Sadiq is also a major partner in several ventures, including ONYX Realty LLC, Al Manar Construction LLC, and Business Bloom LLC.
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, WhiteWestinghouse 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.
Sheikh Salim bin Ahmed Al-Ghazali is one of Oman’s most prominent business leaders. Shaikh Salim established the Golden Group - one of the well-known corporate houses in Oman that operates in 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.
Managing Director Maysan Properties
Chairman OTE Group of Companies
Chairman Golden Group of Companies
COVER STORY
Sheikh Salim bin Mustahail Al Mashani Vice Chairman Muscat Overseas Group
Samir J Fancy Chairman Renaissance Services
Sameer Al Awam Co-Founder and CEO Muscat Eye Laser Center (MELC)
Charting growth
Innovation catalyst
Setting standards
HE Sheikh Salim bin Mustahail Al Mashani is the vice chairman of Muscat Overseas Group (MOG). He is also the adviser at the Diwan of the Royal Court since 2001. Since the beginning of the Renaissance, MOG has grown to be one of the front-runners among the nation’s leading business organisations establishing a strong foothold in the development of banking and financial services, expanding social infrastructure including housing, independent power projects, schools, universities, healthcare 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.
Samir J Fancy is the Chairman of Renaissance Services SAOG, Oman’s premier services solutions company. He founded and chaired Topaz Energy & Marine, a global business till its sale to DP World for $1.3bn. He has over 35 years of directorship experience across a range of sectors including financial investment, oil and gas, and facilities management. He is also the Chairman of Tawoos Group LLC, and a Director in Renaissance Duqm SAOC and Samena Capital Investment Ltd. With previous directorships at National Bank of Oman and Muscat Finance Co, Fancy was also a founder and director of United 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.
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—cofounding 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.
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The company is creating a platform for exponential growth through its strategy and plans for Renaissance 2.0: developing futurefocused 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.
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 community-focused 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.
Salim Ali Nasser Al Siyabi Chairman Al Siyabi International Group
Salim Hassan Macki Chairman OOSC & STS Group of Companies
Shabir M Sultan
Chairman Mustafa Sultan Enterprises Group
Expanding horizons
Tapping opportunities
Entrepreneurial spirit
Al-Siyabi International Group is one of the leading private sector establishments in Oman. The Group has been working in various areas of development including construction, real estate development, education, health, services, travel, and tourism and believes that the private sector has an important role and is an active partner in the comprehensive development of the country. 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.
Salim Macki, Chairman of OOSC Group of Companies holds a Master’s Degree in Petrochemical Engineering from Moscow. He became the first Omani Petroleum Engineer in PDO and later served as Director General of Oil and Minerals. Macki was an Ambassador with the Ministry of Foreign Affairs, Government of Sultanate of Oman. He spent most of his 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 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.
COVER STORY
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
Dr. Thomas Alexander K
Founder and Chief Executive Director, Al Adrak Trading & Contracting LLC
Yahya Mohammed Nasib Chairman Yahya Group Holding
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.
Gaining traction
Enterprise builder
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.
Yahya Mohammed Nasib, the founder and chairman of Yahya Group Holding, is a wellknown 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.
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.
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
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TECHNOLOGY
PREMIUM INNOVATION HUAWEI Pura90s Pro Max empowers you to shoot like a Pro and Share instantly with 200MP clarity and ultra‑reliable 5G+
H
uawei ushers in a new chapter of mobile aesthetics and technology with the global rollout of the HUAWEI Pura90s Series. Built around the powerful philosophy of Now is Your Moment, the HUAWEI Pura 90s Series blends advanced imaging innovations with a fresh design language, empowering users to capture every moment with effortless authenticity. Starting at RO299.9, the HUAWEI Pura90s Series is now available in Oman, with prices starting from RO299.9. Customers can purchase the devices through the official Huawei Store and all authorised retail outlets across the Sultanate. The new HUAWEI Pura90s Series arrives with full 5G+ connectivity, delivering ultra-fast speeds, lower latency, and a more stable network experience across the Sultanate of Oman. Supporting all three major telecom operators in Oman, Omantel, Ooredoo, and Vodafone, the new series ensures seamless performance for streaming, gaming, realtime content creation, and lightning-fast sharing and uploads. This reaffirms Huawei’s commitment to bringing advanced mobile innovation and next-generation connectivity to users across the Sultanate of Oman. The HUAWEI Pura90s Series marks a major leap forward in flagship smartphone photography, delivering significant advancements in telephoto macro imaging, main camera performance, and colour accuracy.
per cent improvement in colour accuracy and a 34 per cent wider colour gamut, faithfully reproducing every scene with vibrant, true-to-life colours. The upgraded AI Composition feature serves as an intelligent framing assistant, instantly recognising subjects such as people, architecture, and landscapes to provide real-time composition guidance. AI De-glare removes distracting reflections from windows, glass, and screens while restoring natural skin tones and revealing details hidden behind reflective surfaces. Meanwhile, AI Move unlocks new creative possibilities by allowing users to isolate, reposition, or duplicate elements within an image, with the system intelligently reconstructing backgrounds and matching lighting for seamless results.
Leading the lineup, the HUAWEI Pura90s Pro Max features an industry-leading 200MP Ultra Large Sensor Telephoto Camera, setting a new benchmark for long-range photography with exceptional clarity and stability. It also debuts chiplevel 200MP RAW real-time processing technology, enabling remarkably crisp 20x telephoto video recording. Complementing these capabilities is an industry-leading CIPA 7.0 image stabilisation system that effectively minimises handheld blur, even in challenging shooting conditions.
Inspired by the Rhythm of Colour design philosophy, the HUAWEI Pura90s Series embraces a refined flat-edged design across the lineup, creating a signature look that is both understated and elegant. The HUAWEI Pura90s Pro Max is available in four striking finishes: Blush Gold, inspired by the first light of dawn; Orange Ocean, capturing the warmth of the evening afterglow; Blaze Purple, evoking the beauty of twilight in bloom; and Graphite Black, reflecting the quiet depth of the cosmos. The Orange Ocean variant also debuts the industry’s first Dual-tone Gradient Metal Mid-frame, creating a distinctive layered texture and premium visual appeal.
Powered by the True-to-Colour Camera 2.0, the HUAWEI Pura90s Series delivers a 43
The HUAWEI Pura90s Pro adopts a more playful aesthetic inspired by refreshing holiday beverages. Available in Guava Soda, Orange Soda, Coconut White, and Mulberry Black, each colourway brings vibrant holiday-inspired hues together with a clean, sophisticated finish. The HUAWEI Pura90s Pro Max features Anti-Reflection and Scratch-resistant Kunlun Glass, which reduces screen reflections by up to 70 per cent, ensuring vibrant visibility even under direct sunlight. It also offers enhanced resistance to everyday scratches while minimising fingerprint smudges, helping the display stay pristine and comfortable to use. The HUAWEI Pura90s Series also introduces the brand-new system-level AI assistant, Celia, delivering a smarter and more intuitive user experience. Powering the series is a large 6000mAh battery for extended all-day usage. The HUAWEI Pura90s Pro supports 66W HUAWEI SuperCharge, while the HUAWEI Pura90s Pro Max takes charging even further with 100W HUAWEI SuperCharge, allowing users to power up in less time and spend more time capturing every moment. AppGallery is Huawei’s official app marketplace, offering a mature and well-developed ecosystem with millions of apps in one trusted place. Today, all major global apps are available on AppGallery, making it easy to find and download everything you need.
INTERVIEW
BUILT ON TRUST, DRIVEN BY EXCELLENCE As Oman’s real estate market evolves, Hayyan Al Lawati, Managing Director of Al Habib & Co., shares his insights on emerging market opportunities, the need for stronger regulation and robust data in an interview with Mayank Singh remain in excellent condition. Responsibility means treating every client’s asset as though it were our own, while collaboration and empowerment enable our teams to work effectively and make decisions that benefit our clients. Can you give us an overview of the services offered by Al Habib & Co. to clients? Over the years, our business has evolved to reflect changes in the market. Today, our primary focus is on specialised real estate services rather than large-scale property development.
Over the last 48 years, Al Habib & Co. has established a strong presence in Oman’s real estate sector. What values have enabled the company to succeed over the last four and a half decades? Al Habib & Co.’s journey has been guided by a long-term perspective. Real estate is not a business where success is measured over months or even years; it is measured over decades. Since its establishment in 1978 by my father, the company has focused on building lasting relationships rather than pursuing short-term gains. I joined the family business in 2005, and together we worked towards transforming the company from a traditional entrepreneurial setup into a more professionally managed and strategically driven organisation, while preserving the values that have always defined us. 32
July 2026
One of the reasons we have remained relevant for nearly five decades is that we see ourselves as long-term partners to our clients. Many of our property owners, tenants and investors have been associated with us for decades, and in many cases, we now work with the second and even third generation of the same families. That level of continuity is only possible when trust has been consistently earned. Our business is built around four core values of excellence, collaboration, responsibility and empowerment. These values are reflected in everything we do. Excellence means delivering quality service consistently, whether it is responding promptly to maintenance requests, carrying out accurate property valuations or ensuring that managed properties
Our core business comprises property management, brokerage and valuation services and advisory, all of which have been integral to the company for decades. Property management remains our largest business line, with around 3,500 units currently under management. During the Covid-19 period, we deliberately reviewed and streamlined our portfolio to focus on higher quality, more sustainable assets. While this reduced the number of units we managed, it created a healthier, more efficient and more profitable portfolio that allows us to deliver better service to both property owners and tenants. Our brokerage division facilitates transactions between buyers and sellers across different segments of the market, while our valuation team undertakes property valuations for financing, inheritance, legal proceedings, financial reporting and investment purposes. These services require technical expertise, market knowledge and professional integrity. In addition, we provide a wide range of advisory services. These include asset optimisation, building lifecycle assessments, refurbishment planning, maintenance strategies and investment advice. We often work
with property owners to enhance the long-term performance of their assets. In many cases, simple improvements or well-planned renovations can significantly improve occupancy levels, rental income and overall asset value. Our client base is equally diverse. We work with individual property owners, family offices, high-net-worth individuals, corporate organisations, government entities and international investors. Regardless of the client profile, our objective remains the same - to maximise the long-term value of every real estate asset entrusted to us. Oman’s real estate market is undergoing significant transformation in terms of the choice of properties and services on offer. What opportunities or trends do you see emerging across the real estate market? The Omani real estate market is entering an exciting phase of development. Large master-planned projects are reshaping the country’s urban landscape and creating entirely new investment opportunities. Government-led developments, alongside major private sector projects, are helping establish integrated communities that will serve both residents and investors for decades to come. While these large developments are important, I also believe there are opportunities in areas that are currently underserved. One of these is the Grade A residential market. Oman has many residential buildings, but relatively few professionally managed residential communities that meet international standards. As the country’s population grows and more businesses establish operations here, demand for premium residential developments will continue to rise. Occupancy levels across the residential market have already improved as more people move into the country. Although rental rates are only gradually recovering, the overall trend is positive. The challenge now is to ensure that future developments focus on quality rather than simply increasing supply. In the office sector,
we are seeing stronger demand for Grade A office space that offers quality infrastructure, adequate parking and professional management. Parking remains a significant consideration for office developments, and it is becoming increasingly clear that future projects must be designed with greater emphasis on accessibility and user experience. Another notable trend is the growth of flexible office space. Before the pandemic, serviced offices and business centres occupied a relatively small niche. Today, they have become an important part of the commercial real estate ecosystem, providing companies with greater flexibility and lower capital commitments. We are also encouraged by the increasing number of refurbishment and adaptive reuse projects. Rather than adding unnecessary supply, developers are modernising existing buildings and repurposing older properties. This improves the overall quality of the built environment while making efficient use of existing assets. Investor confidence in Oman continues to grow, supported by regulatory reforms and economic diversification. How do you view the investment outlook for the country’s real estate sector? Oman is becoming increasingly attractive to investors for several reasons. The government has made steady progress in strengthening regulations governing foreign investment, residency and business ownership. These reforms provide greater confidence and create a more transparent investment environment. Equally important is Oman’s reputation as one of the safest and most stable countries in the region. In today’s geopolitical environment, stability has become a significant competitive advantage. Investors are not only looking for financial returns, they are also seeking markets where they can invest with confidence over the long term. Tourism is another positive driver. As visitor numbers continue to increase
and hospitality infrastructure expands, new opportunities are emerging across residential, commercial and mixed-use developments. Improved international connectivity will further strengthen this momentum and make Oman even more attractive as both an investment and lifestyle destination. On the other hand, there is still considerable room for improvement. The industry would benefit from stronger regulation across brokerage and valuation services to ensure consistent professional standards and enhance investor confidence. Reliable market data is equally important. Better access to information on rents, occupancy levels and transaction trends would enable investors, developers and policymakers to make decisions that are more informed. The data already exists; the opportunity lies in organising and publishing it in a meaningful way. What are Al Habib & Co.’s strategic priorities over the next few years? Our vision is clear. We want to reinforce Al Habib & Co.’s position as Oman’s leading Real Estate Services Company by continuously raising the standards of professionalism and service delivery. Rather than diversifying into unrelated businesses, we remain focused on strengthening our existing service lines. We believe sustainable growth comes from doing the fundamentals exceptionally well and continuously improving every aspect of the customer experience. Technology is central to that strategy. Over the past several years, we have invested heavily in digitising our internal processes and automation. Operational excellence will continue to be a defining priority. Real estate is ultimately a people business built on trust, consistency and service quality. Our objective is to ensure that every interaction with Al Habib & Co., whether through property management, brokerage, valuation or advisory services reflects the standards that have defined the company for nearly five decades.
INTERVIEW
CONNECTED FUTURE
As industries embrace AI, sustainability and digital transformation, Business Gateways International (BGI) is building the connected infrastructure that powers the next era of enterprise. Its integrated ecosystem is enabling smarter procurement, resilient supply chains and data-driven growth on a global scale, says Director and CEO, Hemant Murkoth in an interview sustainability exposure through consistent metrics like compliance, carbon cost information, ESG disclosures etc. Buyers want consistent, comparable metrics (compliance status, carbon cost data, ESG disclosures) across their supplier base, but most suppliers aren’t set up to produce that data in a usable form.
What are the biggest procurement and supplier-management challenges currently facing organisations in your target markets, and how is BGI helping to address them? By being engaged in supplier sourcing and procurement operations across various sectors in Oman for over a decade, BGI has witnessed significant shifts in demand over the years. Key trigger points include the global pandemic, regional conflicts etc. resulting in disruption of critical supply chains for our stakeholders. 34
July 2026
Each situation requires us to align and adapt by refocusing on target markets, cost-effective, technology-driven products and services and supply chain resilience. In the last couple of years, we have observed a major shift towards Green Procurement by our buyer community. Driven by the need to identify products with lower carbon footprint to keep contractual emissions to a minimum, procurement operations are focused on enhancing suppliers’ environmental
At BGI, we have launched the blu2green Framework (blu2green. earth) platform precisely for this reason. The suppliers in BGI’s ecosystem such as the JSRS, are encouraged to fully get their sustainability readiness using the services on the blu2green Framework. The resulting data is then pushed automatically to all of BGI’s other platforms such as JSRS, RABT etc. where through the inclusion of a sustainability profile container, such important data gets reflected as part of each supplier’s profile. Impact? Buyers can now identify suppliers who meet specific sustainability criteria through this new sustainability data repository and even enforce carbon emission controls within each projectbased value chain. BGI is constantly and consistently adapting to such changing requirements and keeping the supply chain ticking along in the right direction. With emerging technologies such as AI and advanced analytics reshaping business processes, how is BGI preparing for the next phase of innovation in platform delivery and end-user experience? The next phase of business operations is fully dependent on innovation in business delivery models enabling end-users stay focused on productivity
through technology. BGI, through its new and exciting enterprise-wide AI Framework called ‘GatewAI’ is modelled on a three-layered architecture, spanning DevOps, Functions, and Operations. This unique approach lets BGI embed AI directly into the platform lifecycle spread across development, functional infusion and operational support structures for execution. The result is a unified AI-driven experience across all of BGI’s platforms, including JSRS, RABT, Elev8, and blu2green, rather than isolated AI features on each one. Development-driven AI Agents ensure rapid deployment models through automation of code, quality checks, testing and deployments across diverse hosting environments. GatewAI’s functional deployment architecture focuses on enhancing user experience towards productivity mechanisms. This architecture is already paying off in the sustainability space. The blu2green Framework (blu2green. earth), for instance, captures supplier sustainability data - compliance status, carbon cost information, ESG disclosures and pushes it to the GatewAI Framework’s specialised AI Agents to provide key advisories, insights and hand-holding pathways. With GatewAI underpinning this integration, AI and advanced analytics are applied on top of that growing dataset to move buyers from static supplier profiles toward predictive, evidence-based sourcing, surfacing risk earlier, benchmarking suppliers on emissions and compliance trends, and enforcing carbon controls project by project. In short, GatewAI is the architecture of BGI’s future, empowering BGI develop faster applications, deliver AI-driven functionality consistently across platforms, and giving buyers sharper, data-backed supplier decisions as the ecosystem scales. Building diverse national IT platforms that critically mitigate Oman’s sector-based challenges over the years, how does BGI plan to create a harmonised data model for its end-user base? BGI’s national platforms such as JSRS,
RABT, elev8 and blu2green are each built to solve specific pillar-based challenges (procurement, local content, sustainability, investments, b2b etc.) at different points over the past decade. This has inevitably resulted in the evolution of an expansive BGI global ecosystem of organisations from Oman and around the world. The natural next step is for BGI to ensure that each organisation’s data residing within BGI’s ecosystem is consistent and shareable across all BGI platforms, no matter which platform they engage on. This is precisely what BGI’s NIBE is designed to solve, through what BGI calls the ‘Data-Swim’ experience wherein specific datasets such as company profile, compliance status, sustainability metrics, transaction history etc., are captured once and allowed to ‘swim’ between platforms as needed, rather than being re-created separately on each one. A supplier who completes their sustainability readiness on blu2green, for instance, doesn’t repeat that exercise on JSRS or RABT; the data swims across via the sustainability profile container already built into those platforms. BGI’s GatewAI’s architecture is what makes Data-Swim work in practice. Because AI is embedded across DevOps, Functions, and Operations for every platform, the underlying data model can stay harmonised centrally while each platform reads and writes to it independently rather than each platform holding its own disconnected copy. The result for end-users is a single verified profile that travels with them across BGI’s ecosystem. And for BGI, a scalable foundation for adding new sector-specific platforms without fragmenting the data is now possible. Looking ahead, what is BGI’s longterm vision for digital enablement, and how do you see it evolving over the next five years? BGI’s long-term vision is a fully connected, intelligent global ecosystem - one where organisations connected to our platforms can interact with a single harmonised universal identity across every platform cutting across countries, rather than a collection of
separate systems. GatewAI provides the architectural backbone for this, embedding AI across development, functions, and operations so new capabilities rollout consistently platform-wide, driven on distributed hosting models. The NIBE and its Data-Swim experience carry this forward efficiently, letting datasets like compliance status, sustainability metrics, and transaction history move fluidly between all of BGI’s Platforms instead of being re-entered on each one. Beyond Oman, our vision is to extend our operations into digitally enabling nations worldwide by building Trade Corridors and integrating to Sustainability, Procurement, Local Content and FDIs through the same harmonised, verified data foundation that GatewAI and NIBE have already established domestically. This is how we see BGI’s platforms scaling from a national infrastructure into a global one, giving Governments and businesses the same trusted, singleprofile access that BGI’s Oman-based ecosystem provides today. Over the next five odd years, we expect significant digital enablement in the region and beyond to shift from compliance-driven registration toward predictive, data-backed engagements. Sustainability will move from a reporting requirement to a live selection criterion with buyers filtering and awarding based on realtime carbon and ESG data. Supply chain resilience will stay a constant pressure, pushing platforms toward automated risk-flagging and scenario planning. And cross-border trade corridors, powered by frameworks like Elev8, will increasingly let AI-verified organisational data travel across markets rather than being rebuilt country by country. BGI’s role in that future, is to keep building the connective global infrastructure through its initiatives and by staying ahead of the curve in technology innovation with value driven propositions for the benefit of governments and businesses worldwide.
Recognising
trailblazers in the construction & infrastructure sector The best of the best within construction, infrastructure, projects, civil engineering, real estate, design engineering and construction materials industry in Oman will be felicitated at Dossier Construction Awards. Event Key Highlights • • • •
Awards to key industry projects, companies and personalities Presentation on an upcoming large iconic project Attendance of over 200 industry leaders Networking with industry peers
Some of the Award Categories
20 25
• Best Construction Safety Initiative • Best MEP Contractor • Best EPC Contractor • Best Construction Contractor • Best Manufacturing Company • Global Omani Company of the Year • Commercial Vehicle of the Year • Excellence in IFM Services • Best MEP Supplier • Best Interior Design • Best Project Design • Best Architect • Best Engineer • Best Engineering Consultant • Best Project Management Consultant • Market Leader of the Year - Paints • Claims Management Consultant of the Year • Real Estate Services Company of the Year • Best Real Estate Project • Best Real Estate Consultant • Best Project Developer of the Year • Best Sustainable Project • Best Renewable Energy Project • Best Industrial Project • CEO of the Year • Business Leader of the Year • Business Icon of the Year
14
th
Edition
20 26 Focus - Real Estate Date: September 30, 2026 Venue: Sheraton Oman Hotel
ST RAT EG IC PART NERS
AS S OCI ATE PARTNERS
COM M ERCIAL VEHICLE PARTN ER
MEDI A PART NERS
D I G I TA L PA RT N E R
ORG ANISER
digital
For more information, contact SHIVKUMAR on 99267159, shivkumar@umsoman.com OR DHANISH on 92637189, dhanish@umsoman.com
TRADE
TRUSTED PARTNERSHIP The India–Australia Uranium Agreement will fuel the future
I
The India–Australia Uranium Agreement strengthens India’s energy security, clean-energy transition, industrial growth and strategic resilience through assured uranium supplies, deeper cooperation on critical minerals and a trusted partnership. The Third India–Australia Annual Summit marks a defining moment in the evolution of bilateral relations, transforming an already strong Comprehensive Strategic Partnership 38
July 2026
into a more purposeful and futureoriented alliance. While cooperation between the two countries has steadily expanded across trade, defence, education, technology and maritime security, the summit has elevated the partnership to a new strategic level by placing long-term economic resilience and energy security at its core. Among the many outcomes, the operationalisation of civil nuclear cooperation through the uranium agreement stands out as the most
consequential achievement, promising to reshape India’s energy landscape and to reinforce the strategic trust that increasingly characterises relations between the two democracies. India-Australia bilateral cooperation so far 1. Trade ties deepen: India’s exports to Australia have doubled under the ECTA from USD 12bn in FY2021 to USD 24bn in FY2025
2. Major investment boost: Australian Super announced an additional AU$500mn investment in NIIF, increasing its total India exposure to AU$3.3bn. 3. Strategic sector collaboration: India invited Australian investment in clean energy, critical minerals, AI, infrastructure, manufacturing and digital technologies. 4. Clean energy partnership: Australia’s uranium, technology and capital will support India’s expansion targets for renewable energy and nuclear power. 5. Stronger economic partnership: India called for deeper partnerships among CEOs, at the state level and in education to drive long-term trade, innovation and investment. As global energy systems undergo profound transformation amid geopolitical uncertainties and supply chain disruptions, both countries have chosen to deepen cooperation in areas that will shape their future economic competitiveness. The uranium agreement therefore represents not merely a commercial arrangement but a strategic investment in India’s long-term energy independence and industrial future. From Legal Framework to Strategic Reality The India–Australia Civil Nuclear Agreement has evolved from a legal framework into an operational strategic partnership following the finalisation of the administrative arrangement, which permits Australian uranium exports to India’s civilian nuclear programme under IAEA safeguards. This milestone provides India with assured access to one of the world’s most reliable uranium resource bases, significantly strengthening long-term energy security. As domestic uranium production remains inadequate to meet the growing fuel requirements of India’s expanding reactor fleet, the agreement diversifies fuel sources, reduces dependence on limited suppliers, and reinforces the country’s clean-energy transition
by ensuring reliable, uninterrupted nuclear fuel supplies. Strengthening the Foundations of Energy Security Reliable access to uranium is essential to the success of India’s civilian nuclear programme, ensuring long-term fuel security and maximising the value of investments in nuclear infrastructure. The India–Australia uranium partnership strengthens India’s nuclear ambitions by supporting the efficient operation of existing reactors and providing confidence for future capacity expansion. It also reinforces India’s clean energy transition, as nuclear power delivers reliable, low-carbon baseload electricity that complements renewable energy and meets rising demand for industry and infrastructure. Furthermore, stable uranium supplies enhance energy and economic security by encouraging longterm investment, supporting industrial growth, and reducing exposure to volatility in global energy markets. Powering India’s Industrial Transformation Assured uranium supplies deliver benefits beyond the nuclear sector by ensuring reliable electricity for advanced manufacturing, semiconductors, electric vehicles, batteries and other high-value industries. During the summit, India and Australia also deepened cooperation on critical minerals, recognising the close link between energy security and industrial competitiveness. While critical minerals support manufacturing and clean technologies, dependable nuclear fuel provides the stable power needed to sustain these industries. Together, these initiatives enhance India’s manufacturing capabilities, promote domestic value addition and technological advancement, reduce supply chain vulnerabilities, and strengthen long-term economic resilience, enabling India to move up the global manufacturing value chain. Reducing Strategic Vulnerabilities in an Uncertain World The operationalisation of the India– Australia Uranium Agreement
assumes even greater significance in an increasingly uncertain geopolitical environment, where access to strategic resources is often shaped by geopolitical rivalries, supplychain disruptions and shifting global alignments. For a rapidly expanding economy with ambitious cleanenergy goals, uninterrupted access to nuclear fuel is not merely an energy requirement but a strategic necessity. By providing a dependable, long-term source of uranium, the agreement reduces India’s exposure to concentrated supply networks and strengthens its capacity to pursue national priorities with greater confidence and continuity. Countering the Influence of Geopolitical Pressures In an era when access to strategic resources is increasingly shaped by geopolitics, India and Australia have built a trusted partnership grounded in shared democratic values and longterm economic interests. The uranium agreement strengthens India’s energy security by diversifying fuel sources, reducing dependence on a limited number of suppliers, and insulating its civilian nuclear programme from geopolitical uncertainties. This enhances India’s strategic flexibility and supports a resilient energy architecture capable of sustaining long-term economic growth and development. Australia’s continued support for India’s membership of the Nuclear Suppliers Group further reflects deepening bilateral trust and reinforces India’s integration into the global civil nuclear framework, strengthening both countries’ broader strategic and economic partnership. Building a Comprehensive Resource Partnership One of the most distinctive features of the Australia Summit is that uranium cooperation was not pursued in isolation. Instead, it forms part of a broader framework encompassing critical minerals, advanced manufacturing, clean energy, technology and resilient supply chains. This integrated approach reflects an understanding that future economic competitiveness will depend
TRADE
on securing every component of the industrial ecosystem, not individual resources alone. Australia’s strength as a resourcerich economy complements India’s rapidly expanding manufacturing capabilities. Critical minerals are essential inputs for batteries, semiconductors, renewable energy technologies and advanced electronics, while reliable uranium supplies ensure the stable electricity needed to power these industries. The partnership therefore creates a comprehensive ecosystem in which resource security, manufacturing capability and technological advancement reinforce one another, contributing to India’s long-term industrial transformation. A boost to the Make in India trajectory The alignment between India’s Make in India initiative and Australia’s Future Made in Australia strategy further illustrates the long-term nature of this cooperation. Rather than focusing solely on resource trade, both countries have embraced collaboration across exploration, mining, processing, refining, downstream manufacturing and technology transfer. Such cooperation has the potential to strengthen industrial competitiveness and create a more resilient and diversified economic relationship, enabling a response to
future global challenges. Energy Security as the Foundation of Sustainable Growth Every major economy requires a secure energy foundation to sustain industrial expansion, technological innovation and economic development. For India, whose electricity demand continues to grow alongside its manufacturing ambitions, reliable energy is strategically important. The uranium agreement directly supports this objective by strengthening the long-term viability of nuclear power as a reliable source of low-carbon baseload electricity. Stable nuclear fuel supplies provide confidence not only for existing reactor operations but also for future investments under India’s Nuclear Energy Mission. In doing so, the agreement supports the country’s transition towards a diversified energy portfolio in which nuclear energy complements renewable sources and ensures an uninterrupted power supply for industries that require continuous electricity. This balanced approach reinforces India’s commitment to sustainable economic growth without compromising energy reliability or industrial productivity. The agreement therefore contributes to energy security, manufacturing
competitiveness, technological advancement and environmental sustainability. Few strategic partnerships can influence so many dimensions of national development through a single initiative, making the uranium agreement one of the most consequential outcomes of the India– Australia relationship. A Partnership That Will Fuel the Future In conclusion, the Third India– Australia Annual Summit marks a new phase in bilateral relations by turning strategic intent into tangible outcomes. The operationalisation of the uranium agreement is a landmark achievement, ensuring reliable nuclear fuel supplies, advancing India’s clean-energy transition, strengthening industrial competitiveness, and enhancing supply-chain resilience. It also shows how trusted partnerships can strengthen national resilience by reducing reliance on concentrated supply chains and mitigating geopolitical risks. Together with expanded cooperation in critical minerals, advanced manufacturing, and clean technologies, the partnership is set to become a key driver of India’s future growth. Beyond securing uranium, the agreement strengthens India’s energy security, economic resilience, strategic autonomy,
India-Australia bilateral merchandise trade, FY 2020-21 to FY 2025-26
Financial Year
Exports from India (USD Mn)
Imports from Australia (USD Mn)
Total Volume of Trade (USD Mn)
Balance of Trade (USD Mn)
2020-21
4,043.88
8,247.30
12,291.17
-4,203.42
2021-22
8,283.13
16,756.17
25,039.30
-8,473.04
2022-23
6,951.32
19,011.31
25,962.62
-12,059.99
2023-24
7,940.75
16,159.20
24,099.95
-8,218.45
2024-25
8,581.38
15,526.46
24,107.84
-6,945.08
2025-26
7,284.18
13,811.35
21,095.53
-6,527.17
Source: Ministry of Commerce and Industry, Department of Commerce (DGCI&S) 40
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IN THE NEWS
LASTING VALUE National Finance delivers strong H1 2026 results, building on sustainable growth momentum
N
ational Finance, the Sultanate of Oman’s leading finance and leasing company, has reported a resilient financial performance for the six-month period ended June 30, 2026, reinforcing the strength of its business model and long-term strategic direction. The results reflect the company’s continued agility in navigating an increasingly dynamic global environment while harnessing opportunities emerging from the nation’s stable economic outlook, ongoing diversification efforts, and the implementation of Oman Vision 2040. For the period ended June 30, 2026, National Finance reported an operating profit (profit before provision and tax) of RO15mn, compared to RO 12.18mn during the corresponding period in 2025, representing an increase of 23.19 per cent. Profit after tax reached RO8.08mn, up from RO7.02mn in June 2025, reflecting a growth of 15.18 per cent. The company’s Net Investment in Lease increased to RO 686.15mn, marking a growth of 5.12 per cent compared to December 2025. Reflecting on the company’s achievements, Tariq Sulaiman Al Farsi, CEO, National Finance, said, “Our performance during the first half of 2026 reflects the resilience of our business, the enduring trust of our customers and stakeholders, and the strength of the disciplined strategy we have consistently executed. These achievements would not have been possible without the dedication of our employees, whose hard work and shared pursuit of excellence continue to drive our success. As the Sultanate of Oman advances its economic transformation, we remain focused on innovation, stronger customer relationships, and empowering individuals, entrepreneurs, and businesses nationwide. With a strong foundation and sound governance, we are well positioned to seize new opportunities and deliver lasting value for shareholders, customers, and the wider economy.” National Finance continues to maintain the highest regulatory capital among
finance and leasing companies in the nation at RO148.45mn, providing a strong foundation to support future growth. With an extensive network of 24 branches and a diversified portfolio of financing solutions for retail, SMEs, and corporate customers, the company remains well positioned to meet evolving customer requirements while enhancing operational efficiency through continued investment in digital capabilities and service excellence. The continuous development of Omani talent remains a cornerstone of National Finance’s long-term success. As of June 30, 2026, National Finance achieved an Omanisation rate of 93.4 per cent, with 396 Omani nationals employed out of a total workforce of 424, surpassing the national
target. Through ongoing investments in learning, leadership development, and employee capability building, the company continues to cultivate a highly skilled workforce equipped to support innovation and sustainable growth. Looking ahead, National Finance remains confident in its ability to navigate evolving market conditions, supported by a strong capital base, disciplined risk management framework, continued investment in digital innovation and transformation, and a resolute commitment to customer excellence. As a trusted Partner for Growth, the company remains focused on delivering sustainable long-term value while contributing to the nation’s continued socio-economic progress.
COLUMN
SUSTAINABLE DEVELOPMENT Islamic Finance as a catalyst for Green Hydrogen, Biodiversity, Agriculture, and Food Security in Oman strategic enabler of sustainable national development. Islamic Finance and the Green Hydrogen Opportunity
By Dr. Mughees Shaukat Executive Advisor, IIRA, Bahrain, Oman; Lead Islamic Investment and Fund Management, GCC, CIS & Asia; Managing Director, Panacea Consulting, Bahrain and Director Shariah Structuring and Strategic relations, Carbon CX, Canada
O
man stands at a pivotal moment in its economic transformation journey. Guided by Vision 2040, the Sultanate is prioritising economic diversification, environmental sustainability, and private sector-led growth. Among the most promising pathways to achieve these ambitions is the strategic deployment of Islamic finance to support prospects like green hydrogen development, biodiversity preservation, sustainable agriculture, and food security. Islamic finance, with its asset-backed, ethical, and risk-sharing foundations, offers a powerful and natural alignment with sustainability-driven investments and long-term ecological resilience. The convergence of green energy, biodiversity, agriculture, and food security creates a holistic ecosystem where Islamic finance can act not merely as a funding tool but as a
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Oman is rapidly emerging as a global hub for green hydrogen production due to its vast solar and wind resources, strategic geography, and strong logistics infrastructure. Green hydrogen projects, however, are capital-intensive, long-tenor investments requiring structured financing models that balance risk, sustainability, and investor confidence. Islamic finance instruments such as Sukuk, Istisna, Ijara, and Musharaka provide ideal mechanisms for funding such large-scale infrastructure. Green hydrogen infrastructure—electrolyzers, renewable energy plants, storage facilities, pipelines, and export terminals—fits perfectly within assetbacked Islamic financing structures. Sukuk can be issued to finance specific project components, allowing investors to participate in tangible assets while sharing in project returns. This aligns with Shariah principles and provides long-term stable returns attractive to sovereign funds, pension funds, and ESG-focused investors. Biodiversity and Islamic Finance: A Natural Alignment Islamic finance inherently promotes environmental stewardship. The concept of Khalifa (stewardship of earth), prohibition of harm (La Darar), and emphasis on balance (Mizan) provide a strong theological foundation for biodiversity protection. Oman’s rich biodiversity—coastal ecosystems, deserts, mountains, and marine life— represents both a natural heritage and an economic asset. Islamic finance can be used to develop biodiversity-linked investment models
including: • Sustainable eco-tourism financing • Marine conservation funds • Mangrove restoration projects • Sustainable fisheries development • Protected area infrastructure • Biodiversity-linked carbon credits These projects can be financed using Waqf-based investment structures, sustainability Sukuk, and impactoriented Islamic investment funds. For example, biodiversity Sukuk can finance marine conservation zones while generating returns from ecotourism, research partnerships, and sustainable fisheries. Such financing models ensure biodiversity is not merely protected but economically valued. This transforms conservation from a cost center into a sustainable investment opportunity. Additionally, biodiversity preservation directly supports agriculture, water security, and climate resilience, creating multiplier benefits across Oman’s economic sectors. Agriculture and Agri-Based Economic Diversification Agriculture remains central to Oman’s food security ambitions. However, the sector requires modernisation, technology adoption, and financing support to scale sustainably. Islamic finance provides flexible and farmerfriendly structures particularly suited to agriculture. Key Islamic financing models include: Salam Financing – Pre-financing farmers for future crop delivery, ensuring liquidity and reducing production risk. Muzara’ah and Musharaka – Partnership-based agricultural investments between financiers and
farmers.
• Agricultural export zones
ESG criteria.
Ijara – Leasing of agricultural equipment, irrigation systems, and technology.
These investments enhance food availability, reduce import dependence, and create employment opportunities.
This convergence enables Oman to attract:
Istisna – Financing agricultural infrastructure such as greenhouses, aquaculture farms, and vertical farming units.
Green Hydrogen, Agriculture, and Food Security Integration
These instruments reduce farmer debt burden while promoting risk-sharing and productivity. Islamic agriculture funds can also support: • Smart irrigation systems • Climate-resilient farming • Organic agriculture • Halal-certified agribusiness • Agri-processing industries • Cold chain logistics • Aquaculture and fisheries By combining Islamic finance with agritechnology, Oman can transform its agricultural sector into a modern, highvalue, and export-oriented ecosystem. Food Security Through Islamic Investment Structures Food security is a national priority for Oman. Global supply chain disruptions and climate change risks highlight the importance of domestic production and diversified sourcing. Islamic finance can play a central role in building resilient food value chains. Food security investments include: • Strategic food storage infrastructure • Grain and livestock development • Fisheries and aquaculture expansion • Halal food processing zones • Agriculture, logistics and distribution hubs • Cross-border agricultural investments Islamic investment funds dedicated to food security can mobilise capital from GCC investors seeking stable, long-term returns. Such funds can invest in both domestic agricultural development and international farmland partnerships. Oman can also leverage Islamic finance for Public-Private Partnership (PPP) models in food infrastructure such as: • Cold storage networks • Food processing clusters • Halal logistics parks
The strategic integration of green hydrogen with agriculture presents unique opportunities. Renewable energy from hydrogen projects can power desalination plants, irrigation systems, and agri-processing facilities. This creates a sustainable agricultural ecosystem supported by clean energy. Islamic finance can fund integrated green energy-agriculture models including: • Solar-powered farming clusters • Hydrogen-based fertiliser production • Sustainable irrigation powered by renewables • Green ammonia for agriculture • Climate-smart agri-industrial zones Role of Islamic Capital Markets Islamic capital markets can mobilise large-scale funding for Oman’s green and agri initiatives. Potential instruments include: • Green Sukuk for renewable and hydrogen projects • Sustainability Sukuk for biodiversity initiatives • Agri Sukuk for farming infrastructure • Blue Sukuk for fisheries and marine economy • Waqf Sukuk for community-based agriculture These instruments attract institutional investors seeking ethical and sustainable investments. Oman can also establish a ‘Green Islamic Finance Platform’ to channel investments into priority sectors including hydrogen, biodiversity, agriculture, and food security. ESG and Shariah: A Strategic Convergence Environmental, Social, and Governance (ESG) investing is growing globally. Islamic finance naturally aligns with ESG principles. Investments in green hydrogen, biodiversity, agriculture, and food security satisfy both Shariah and
• Islamic investors • ESG funds • Sovereign wealth funds • Development finance institutions • Climate finance providers Blended Islamic ESG financing can reduce cost of capital and enhance project viability. Institutional Framework for Implementation To maximise Islamic finance for green and food security sectors, Oman can consider: • National Green Islamic Finance Strategy • Islamic climate investment funds • Sovereign green Sukuk issuance • Public-private Islamic financing platforms • Waqf-based sustainability funds • Agri-finance Islamic windows in banks Such institutional support will accelerate capital mobilization. Economic Impact and Job Creation Islamic finance-driven green and agri investments can generate: • Youth employment • SME growth • Rural development • Technology adoption • Export diversification • Sustainable income generation Green hydrogen alone can create new industrial ecosystems, while agriculture enhances food resilience and local production. Regional and Global Leadership Oman has the opportunity to position itself as: • Islamic green finance hub • Hydrogen investment gateway • Biodiversity finance leader • Sustainable agriculture model • Halal food security center By integrating Islamic finance into sustainability sectors, Oman can lead globally in ethical green development.
COLUMN
SOFTWARE SHIFT Vibe Coding: The next productivity revolution and a transformative investment theme
T
The artificial intelligence revolution is entering a new phase. While much of the attention over the past several years has focused on chatbots, large language models, and the extraordinary rise of semiconductor companies powering AI infrastructure, a potentially transformative trend is emerging beneath the surface: vibe coding. Although the term may sound informal, its implications for productivity, innovation, and investment could be profound. Vibe coding refers to the process of creating software using natural language prompts rather than traditional programming languages. Instead of manually writing thousands of lines of code, developers increasingly describe what they want in plain English, and AI systems generate, test, debug, and refine the software automatically. What began as a productivity tool for software engineers may ultimately democratise software creation for millions of people worldwide.
Historically, software development required years of technical training and specialized knowledge. Writing code demanded expertise in programming languages such as Java, Python, C++, or JavaScript. The process was often slow, expensive, and dependent on scarce engineering talent. Today, artificial intelligence is changing this paradigm. Developers can increasingly focus on describing the desired outcome while AI systems perform much of the underlying coding work. The role of the programmer is evolving from code writer to architect, supervisor, and reviewer. The critical question is no longer whether AI can write code. The question is how much software development will eventually be performed by AI and how this transformation will reshape the global economy. The importance of vibe coding lies first and foremost in its potential 44
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to drive substantial productivity gains. Throughout economic history, transformative technologies have been adopted because they enabled people and businesses to accomplish more with fewer resources. Early evidence suggests that AI-assisted programming can significantly accelerate software development. Tasks that previously required days or weeks may now take hours. Prototypes can often be built in a single afternoon. Businesses benefit through faster product development, lower costs, greater innovation, and improved competitiveness. At a macroeconomic level, the widespread adoption of AI-assisted coding could represent one of the largest productivity enhancements since the emergence of cloud computing. From an investment perspective, the implications are substantial. Every new application generated through AI requires computing power, cloud infrastructure, data storage, networking capacity, and cybersecurity protection. This creates a powerful multiplier effect throughout the digital economy. Investors should therefore view vibe coding not merely as a software trend but as a broad-based investment theme spanning multiple sectors and asset classes. The countries that stand to benefit most are likely to be those already positioned at the forefront of technological innovation. The United States remains the clear leader in the global AI race. India may emerge as another major beneficiary. For decades, India has excelled as a global hub for software services and outsourcing. Vibe coding has the potential to lower barriers to software creation and enable Indian entrepreneurs and businesses to move further up the value chain. With its vast engineering talent pool, Englishlanguage proficiency, growing digital economy, and large domestic market,
Rainer Michael Preiss Partner & Portfolio Strategist at Das Family Office in Singapore India is well positioned to evolve from a provider of coding services into a creator of globally competitive digital products and platforms. At the corporate level, some of the greatest beneficiaries may not be the companies creating AI-generated applications themselves but rather those supplying the infrastructure behind the AI ecosystem. History suggests that the suppliers of essential tools often become the biggest winners during periods of technological transformation. During the California Gold Rush, many fortunes were made selling picks and shovels rather than mining gold. The same principle may apply to AI. For global investors, vibe coding should not be viewed solely as a software trend. It is a multi-sector investment opportunity encompassing artificial intelligence, semiconductors, cloud computing, cybersecurity, data centers, digital services, and energy infrastructure. The democratization of software development could unlock a wave of innovation comparable to the emergence of the internet, smartphones, or cloud computing itself. Investors who recognize this shift early may find that the greatest opportunities lie not merely in the applications created by AI, but in the companies and countries enabling the entire ecosystem. As software creation becomes increasingly democratised, the providers of critical infrastructure may emerge as the most durable long-term winners of the next productivity revolution.
INDUSTRY
INVESTMENT SURGE Ibri Industrial City attracts investments worth RO25mn by the end of June 2026
I
bri Industrial City, affiliated with the Public Establishment for Industrial Estates “Madayn,” recorded total investments of approximately RO25mn by the end of the first half of 2026. The number of the signed investment contracts in the city has reached 17, covering more than 250,000 sqm for projects spanning key sectors, including oil and gas, food, manufacturing industries and light industries. Salah bin Nasser Al Alawi, Director General of Ibri Industrial City, stated that Madayn continues to strengthen the city’s investment climate by attracting quality investments and working closely with relevant government bodies to unlock the economic potential of Al Dhahirah Governorate. 46
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“As part of these efforts, 11 investment opportunities in food manufacturing and organic fertiliser production have been launched through the Tharawat platform in cooperation with the Directorate General of Agriculture and Water Resources in Al Dhahirah Governorate,” Al Alawi said, adding, “These opportunities have also been featured on the Tatweer platform in collaboration with the Directorate General of Housing and Urban Planning to expand their reach, attract investors, encourage value-added projects, create job opportunities, and contribute to the objectives of Oman Vision 2040.” Madayn has outlined several projects for Ibri Industrial City under the 11th Five-Year Development Plan (2026– 2030). These include the construction of a security fence, administration building, Madayn Entrepreneurial Complex in cooperation with the SMEs Development Authority, protection works for the city’s service area, and a project to expand green spaces across the industrial city. Ibri Industrial City provides an
integrated investment environment that supports industrial development in Al Dhahirah Governorate in particular and the Sultanate of Oman in general. The governorate enjoys competitive advantages, particularly in marble and chrome related industries, while the presence of Ibri Industrial City creates ideal conditions for investments across
the industrial, commercial, and service sectors. Ibri Industrial City spans a total area of 10 million sqm, of which more than 2.6 million sqm has already been developed. It also enjoys a strategic location along key trade routes and in close proximity to the border crossings with Saudi Arabia and the United Arab Emirates.
REAL ESTATE
PRESTIGE REDEFINED Dar Global and Fendi Casa announce Azure Oceanfront Villas in Oman for unparalleled coastal living defined by Italian sophistication
D
ar Global and FENDI Casa has announced the launch of Azure Oceanfront Villas, a collection of ultra-luxury mansions with interiors by FENDI Casa, set within the prestigious AIDA clifftop community in Muscat, Oman. Conceived by Dar Global, the Londonlisted luxury real estate company, AIDA is one of the most expansive and exclusive mixed-use real estate developments globally. The launch unveils 19 thoughtfully designed and exquisitely appointed mansions with direct beach access featuring FENDI Casa’s signature Italian craftsmanship and refined high-end design to AIDA, a magnificent, residences and government initiatives driving inbound investment. Our partnership with FENDI Casa brings world-renowned Italian design to this vision, elevating the standard of upscale living in Muscat. Together, we are further elevating the position of AIDA as a strategic gateway for global investors seeking long-term value, lifestyle returns, and design-led distinction in the region.”
gated community built on a 130-metrehigh cliff, surrounded by rocky canyons, pristine beaches, and the scenic Oman coastline. Ziad El Chaar, CEO of Dar Global, said, “The launch of Azure Oceanfront 48
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Villas, Interiors by FENDI Casa, at AIDA reflects Dar Global’s commitment to identifying and unlocking high-value real estate opportunities in growth markets. Oman’s luxury property sector is at a turning point, fuelled by investor appetite for branded
Positioned on an expansive site with unobstructed sea views, Azure Oceanfront Villas, with interiors by FENDI Casa, offers exceptional privacy and seclusion for a select group of discerning residents. The distinctly modern mansions embody the essence of seaside living, evoking a tranquil and luxurious sanctuary. With spacious floor plans, each villa includes private amenities such as an outdoor pool and a state-of-the-art gym. Beautifully furnished, the homes reflect FENDI Casa’s renowned blend of elegance and contemporary style, with curated attention to details, materials, and artisanal craftsmanship.
This elegant new landmark within AIDA marks the first collaboration between Dar Global and FENDI Casa on a high-end residential project. The unveiling also represents a significant milestone for Oman as Azure Oceanfront Villas, Interiors by FENDI Casa, becomes the first development in the Sultanate to feature interiors by the design brand of a luxury fashion Maison. Spanning over 4.3 million sqm and targeting international investors and buyers, AIDA blends nature, luxury, and lifestyle, boasting world-class hotels, an 18-hole golf course, an exclusive members-only club, and a bouquet of residential offerings including upscale villas and apartments. Centrally located in the Omani capital, within a short distance of Muscat International Airport and Central Downtown, this significant urban development in Oman is enhancing the country’s global stature as a compelling destination for tourists, residents, and investors alike.
BILLBOARD Sohar Islamic broadens its corporate banking proposition with new preloaded card As organisations place greater emphasis on financial oversight and efficient expense management, Sohar Islamic is continuing to broaden its portfolio of Sharia-compliant payment solutions. Reinforcing this approach, the bank has launched its new Corporate Preloaded Card, offering businesses and public sector institutions a secure and structured way to manage spending across day-to-day operations. Commenting on the launch, Fahad Al Zadjali, Chief Islamic Banking Officer at Sohar Islamic, said, “As organisations continue to evolve, effective financial management increasingly depends on the ability to balance operational agility with robust oversight. The introduction of the Corporate Preloaded Card reflects our commitment to providing practical, Sharia-compliant solutions that empower businesses to manage spending with greater control, transparency, and efficiency. By enabling organisations to allocate spending
authority within clearly defined parameters, the solution supports stronger governance while simplifying day-to-day financial operations. At Sohar Islamic, we remain focused on developing innovative banking solutions that respond to the changing needs of our clients and contribute to their long-term growth and success.” Translating this philosophy into a practical solution, the Corporate Preloaded Card is designed to accommodate a broad range of organisational structures and operating models, enabling businesses and public sector institutions to issue multiple cards under a single primary account for approved employees. The card supports a wide range of business-related expenses, including official travel, government and statutory payments, vendor settlements, procurement activities, office-related purchases, and both in-store and online transactions.
Ooredoo brings AI capabilities to business email Ooredoo is collaborating with Mindware (Value Added Distributor) and Google Cloud to launch a new generation of AI-enabled workplace solutions for businesses across Oman. Through the collaboration, Ooredoo becomes one of the first telecommunications providers in the Sultanate to offer enterprises and subject matter experts (SMEs) access to Google Cloud’s AI capabilities, helping organisations improve productivity, streamline communication and unlock new ways of working through generative AI. The launch expands access to generative AI capabilities that can help businesses draft emails, summarise conversations, generate content and improve day-to-day productivity. Through a dedicated portal, organisations can access AI tools enabled by Google’s Gemini models alongside connectivity, cloud services and collaboration solutions through a single provider, supported by local billing and in-country expertise. Commenting on the launch, Saied Al Lawati, Acting Chief Business & Wholesale Officer at Ooredoo, said, “Technology adoption is no longer limited to large organisations with dedicated digital teams. Increasingly, businesses of every 50
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size are looking for accessible technologies, including AI-powered tools, that help them operate more efficiently and compete more effectively. Through this partnership, we help
make advanced workplace technologies more accessible to organisations across Oman, creating new opportunities for innovation, growth and long-term competitiveness.”
Dhofar Foods showcases commitment to Oman’s food security at Food Security Forum and Exhibition 2026
Reaffirming its commitment to strengthening the Sultanate’s food security and advancing a resilient and sustainable domestic food industry, Dhofar Foods & Investment SAOG (Dhofar Foods), one of Oman’s leading food manufacturing groups, participated in the Food Security Forum & Exhibition 2026,
held in the Dhofar Governorate during the Khareef season. The event brought together government entities, investors, entrepreneurs, food manufacturers, agricultural specialists, financial institutions, and other key stakeholders to explore opportunities shaping the future of Oman’s food and agriculture sectors. Dhofar
Foods’ participation underscored the Group’s continued focus on strengthening local food production, supporting the development of Oman’s food ecosystem, and contributing to the national priorities of economic diversification and sustainable growth under Oman Vision 2040. Commenting on the occasion, Vipul Bahl, CEO, Dhofar Foods and Investment SAOG, said, “At Dhofar Foods, we believe that building a resilient food sector requires a long-term commitment to strengthening local capabilities, investing in quality and innovation, and fostering collaboration across the entire value chain. Our participation in the Food Security Forum & Exhibition reflects our commitment to playing an active role in Oman’s food security journey and supporting the development of a competitive and sustainable food industry. As an Omani food manufacturer, we are focused on creating greater value through local production, strengthening our capabilities, and responding to the evolving needs of consumers and the market. By working closely with our partners across the public and private sectors, we can collectively contribute to a more resilient food ecosystem that supports Oman’s economic diversification and the ambitions of Oman Vision 2040.”
Manahil Alizz batch IV turns learning into ideas for impact Alizz Islamic Bank celebrated a significant milestone in the fourth edition of its Manahil Alizz Internship Programme, as the 49 Omani participants presented their graduation projects, bringing together the knowledge, skills and experiences they gained throughout their transformative journey with the Bank. The graduation project presentations represented the culmination of an intensive programme designed to equip young Omanis with the knowledge, confidence and practical skills needed to navigate the professional world and contribute meaningfully to Oman’s future. Throughout the programme, participants were exposed to a comprehensive learning experience covering leadership, personal and professional development, project management, teamwork and other essential workplace skills. Through classroom sessions, interactive activities, job shadowing, mentorship and practical experiences, the participants were encouraged to move beyond theoretical learning
and develop a deeper understanding of the realities of the workplace and the banking sector. The graduation projects provided the participants with an opportunity to put this learning into practice. Commenting on the occasion, Ghalib Al Kharusi, Head of Human Capital said, “The graduation projects are one of the most important moments in the Manahil Alizz journey because they allow us to see the transformation that has
taken place in our participants. They entered the programme with different experiences, perspectives and aspirations and today they stand before us with greater confidence, stronger skills and the ability to turn ideas into solutions. What we witnessed is a reflection of the remarkable potential of Omani youth and what can be achieved when they are given the opportunity to learn, experiment and lead.”
AUTOMOTIVE
DIGITAL MOBILITY
BMW Group Middle East introduces STARZPLAY to in-vehicle infotainment across the multiple countries in the region
B
MW Group Middle East has announced the integration of STARZPLAY, one of the region’s leading all-in-one media streaming platforms, into BMW and MINI in-vehicle infotainment systems, expanding access to premium sports and entertainment content for customers across the region. Starting today, customers will be able to enjoy STARZPLAY’s extensive content offering in BMW and MINI vehicles equipped with ConnectedDrive across the United Arab Emirates, Saudi Arabia, Qatar, Bahrain, Oman, Kuwait and Jordan. STARZPLAY brings its comprehensive content offering to BMW and MINI customers, combining premium live sports, blockbuster movies, series, Arabic content, and STARZPLAY Originals. The service is accessible directly through the vehicle’s native infotainment interface, enabling eligible customers to access their STARZPLAY experience seamlessly while the vehicle is stationary. Content is available on the central display during charging stops, waiting periods or travel breaks, supporting safe use with no external devices required. 52
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The integration forms part of BMW Group’s broader Video and TV offering, which also provides access to selected content platforms including YouTube, Bloomberg, Wajd and Al Jazeera, delivering a smooth in-vehicle, on-demand viewing experience. Karim-Christian Haririan, Managing Director BMW Group Middle East, said, “This collaboration with STARZPLAY underscores BMW Group Middle East’s position at the forefront of in-car entertainment in the region. By expanding our digital ecosystem, we’re transforming how customers experience mobility without compromising the core values of quality, safety, and Sheer Driving Pleasure. Our goal is to offer a connected, delightful mobility experience that adapts to how people live and travel in the Middle East.” “That is the way forward for exploring new ways to make our content more accessible to our audiences”, said Maaz Sheikh, CEO STARZPLAY. “This integration with BMW Group Middle East represents an important step in
extending the STARZPLAY experience beyond traditional screens and into connected mobility environments. By bringing our extensive premium content offerings from entertainment and sports directly into eligible BMW and MINI vehicles, we are creating new opportunities for audiences to enjoy the content they love through a seamless, connected experience.” This launch marks the first step in BMW Group Middle East’s broader strategy to expand in-vehicle entertainment capabilities across the region while reinforcing STARZPLAY’s commitment to providing viewers with access to their favorite content. Additional features and content integrations are expected to follow, further reinforcing the brand’s commitment to innovation and customer-centric experiences. As demand for connected services continues to grow, BMW and MINI remain at the forefront of delivering intelligent, intuitive technologies that elevate every journey.
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