MUSCAT : Further strengthening its role in advancing Oman’s evolving financial landscape through collaborations that support innovation and digital transformation, Sohar International has signed a Memorandum of Understanding (MoU) with Friendi Pay, under which Sohar International has been appointed as the Official Banking Partner for Friendi Pay. The signing ceremony took place at Sohar International Waterfront headquarters and was formalized by Abdulwahid Mohamed Al Murshidi, Chief Executive Officer of Sohar International, and Tawfiq Al Lawati, Chief Executive Officer of Payments Arabia (Friendi Pay), marking the beginning of a partnership focused on strengthening the underlying financial infrastructure enabling digital payment ecosystems in the Sultanate.

Commenting on the partnership, Abdulwahid Mohamed Al Murshidi said, “The continued evolution of financial services increasingly depends on how effectively institutions can work together to create ecosystems that are secure, scalable, and responsive to changing customer expectations. Collaborations between banks and fintech platforms such as Friendi Pay reflect the broader direction in which the industry is moving, where innovation is strengthened by regulatory integrity, institutional expertise, and shared long-term ambitions. As digital financial adoption continues accelerating, partnerships of this nature will play an important role in shaping a more connected and future-ready financial landscape that supports wider economic progress and national development priorities.”

As part of the framework, Sohar International will support Friendi Pay’s operational requirements through corporate banking capabilities designed to facilitate day-to-day business activities, including collections and settlement processing, payroll disbursements, vendor payments, and treasury-related banking support. The arrangement will also establish the regulated banking infrastructure underpinning Friendi Pay’s customer-facing services, encompassing payment and settlement capabilities, international remittance enablement, and customer fund safeguarding arrangements. Customer balances will remain ring-fenced and fully segregated within the regulated banking system in alignment with Central Bank of Oman requirements, reinforcing robust protection mechanisms while strengthening secure and trusted digital financial services.

Beyond core banking infrastructure, Sohar International will also support selected fintech capabilities spanning areas such as Wage Protection System (WPS) enablement, card issuance infrastructure, and merchant acquiring services, enhancing broader digital financial accessibility and payment innovation within the Sultanate. Together, these capabilities establish a foundation that combines regulated banking strength with evolving financial technology solutions, supporting future-ready payment experiences while contributing to the continued advancement of Oman’s digital financial ecosystem.

Through partnerships that combine institutional strength with innovation-led capabilities, Sohar International reinforces its broader focus on building a progressive financial sector aligned with Oman Vision 2040 priorities. By enabling infrastructure that strengthens long-term ecosystem development, the bank continues advancing a financial landscape positioned to adapt to changing market dynamics and unlock future opportunities across Oman’s digital economy.