MUSCAT : The MoU was formally signed by His Excellency Mahmoud bin Abdullah Al Owaini, Secretary General of the Ministry of Finance and General Supervisor of the National Program for Financial Sustainability, and Oliver Berger, Executive Vice President of State Street. The agreement underscores ongoing efforts to deepen cooperation with international financial institutions and to provide Omani stakeholders with cutting-edge financial and investment strategies.
Key objectives of the MoU include supporting initiatives in the financial sector, promoting the use of smart solutions in financial technologies, and developing joint training programs designed to enhance the skills of Oman’s national workforce. Additionally, it paves the way for exploring new investment opportunities and financial solutions to attract investors, aligning with Oman Vision 2040’s goals of achieving financial sustainability and comprehensive economic development.
His Excellency Al Owaini emphasized the memorandum’s role in attracting international best practices to benefit the National Program for Financial Sustainability initiatives. He highlighted the partnership with State Street as a critical component in enhancing the efficiency and competitive capabilities of the local financial sector.
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Oliver Berger expressed enthusiasm for the collaboration, stating, “We look forward to bringing together the company’s international expertise to support the national program ‘Sustainability’ in the Sultanate of Oman. The exchange of knowledge and expertise will contribute to enhancing economic growth and achieving the sustainable development that the Sultanate of Oman seeks.”
Faisal bin Saud Al Nabhani, Regional President of State Street in Oman and Qatar, noted the institution’s longstanding commitment to Oman, spanning over 20 years. He highlighted the recent establishment of State Street’s office in Oman as a testament to the company’s dedication to fostering cooperation. Al Nabhani reiterated the firm’s commitment to supporting Oman Vision 2040, which outlines a comprehensive development roadmap for the nation, utilizing its global expertise to empower local businesses and initiatives within the sustainability program.
As one of the world’s premier financial services firms, State Street offers an array of asset management services and advanced financial solutions in more than 100 global markets.
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