Private banking institution Mashreq has officially announced its expansion into the Sultanate of Oman. The bank plans to provide a comprehensive array of personalized financial services specifically designed for the evolving corporate and public sectors within the country. This strategic initiative highlights Mashreq’s commitment to supporting Oman’s Vision 2040, aiming to promote economic diversification and enhance the nation’s standing in the global financial arena.
Mashreq’s entry into Oman is timely, coinciding with a rising demand for financial solutions that align with both regional and global market trends, according to a statement.
Ahmed Abdelaal, Group CEO of Mashreq, stated, “Oman’s strategic location and its dynamic economic landscape make it essential to Mashreq’s international growth ambitions.”
Al Salt Mohammed Al Kharousi, Mashreq’s Country Head for Oman, added, “With over five decades of global innovation, Mashreq’s expansion into Oman reinforces our dedication to being a strategic partner in the nation’s economic development. Our focus is on fostering a resilient generation of entrepreneurial talent and supporting the growth of a dynamic, knowledge-driven economy.”
Read more: Arcapita and Dgpays consortium acquires majority stake in NEOPAY from Dubai’s Mashreq
Leadership development
In a related development, Mashreq announced the appointment of Vivek Batra as the new Global Head of Transaction Banking. In this capacity, Vivek will take full responsibility for Global Transaction Banking across the Mashreq Group, further implementing innovative strategies to strengthen GTB’s role as a fundamental component of the Group’s broader vision for growth and market leadership.
Vivek brings extensive experience to his new position, having held senior roles in the banking sector, including Head of Transaction Banking for MUFG’s Asia GTB business and Global Sales Head for GTB at DBS. He has also served as a Senior Adviser with BCG, assisting banks in delivering and executing their digital and transaction banking strategies.
