MUSCAT — Global financial services powerhouse State Street Corporation, has signed a Memorandum of Understanding (MoU) with Jadwa Investment to explore strategic opportunities in the Sultanate of Oman.

The agreement, signed during the Oman Capital Market Conference in Muscat on June 1, aims to strengthen collaboration between the two firms and expand services available to institutional investors in Oman.

Under the partnership, State Street and Jadwa Investment will identify and develop opportunities to broaden their offerings to institutional clients, with a particular focus on advanced asset servicing solutions and global custody capabilities.

The MoU builds on the existing relationship between the two firms and reflects growing interest in supporting the development of Oman’s financial sector as the country advances its economic diversification agenda under Vision 2040.

Jack Keshishian, Head of Middle East and North Africa at State Street, said the agreement underscores the company’s long-term commitment to the region and its strategy of working alongside established regional partners.

“This memorandum reflects our continued commitment to the Middle East and to working alongside strong regional partners,” Keshishian said. “We see significant opportunity in combining our global asset servicing expertise with Jadwa’s regional insights and investment capabilities to better support Omani clients, aligned with our efforts to support the continued development of Oman’s capital markets under the country’s Vision 2040 agenda.”

Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment, described Oman as an important market for the firm and said the collaboration would help expand access to high-quality investment solutions.

“By leveraging Jadwa and State Street’s combined strengths, we aim to broaden access to high-quality investment solutions for institutional clients and support the continued growth of Oman’s financial ecosystem,” he said.