Bank Muscat, the leading financial services provider in the Sultanate of Oman, remains committed to innovation and advancing digital transformation by offering integrated financial solutions that simplify processes and enhance transaction efficiency for its corporate customers. This direction is reflected in the bank’s continuous efforts to introduce innovative services that keep pace with market developments and meet the evolving needs of various sectors, thereby strengthening the competitiveness of the business environment and supporting sustainable growth. Through ongoing investments in the latest technologies and digital advancements, the bank delivers faster, more seamless, and more innovative banking solutions that enhance the experience of both individual and corporate customers, in line with its strategic vision to provide secure and scalable banking services that are future-ready.
In line with its leadership and commitment to strengthening digital banking solutions, Bank Muscat has signed a strategic partnership pact with Jindal Steel Sohar to provide advanced Business-to-Business (B2B) banking solutions, aimed at managing and executing financial transactions between corporates in a streamlined and structured manner.
The agreement was signed on behalf of Bank Muscat by Ahmed bin Faqir Al Bulushi, Deputy Chief Executive Officer- Banking, and on behalf of Jindal Steel Sohar by Harsha Shetty, Chief Executive Officer.
Under this agreement, Jindal Steel Sohar will benefit from the bank’s advanced payment management solutions, enabling efficient processing of payments to suppliers and employees, enhancing accuracy and speed of financial transactions, improving cash flow management, and reducing manual operational procedures. This will ultimately contribute to higher operational efficiency and improved financial transparency.
Commenting on the partnership, Ahmed bin Faqir Al Bulushi, DCEO-Banking at Bank Muscat, said: “This partnership reflects our continued focus on building a digitally integrated banking ecosystem that empowers businesses to operate more efficiently and scale with confidence. At Bank Muscat, we are committed to going beyond traditional banking by delivering intelligent, future-ready solutions that seamlessly connect our clients to their financial operations. Our collaboration with Jindal Steel Sohar reinforces the trust leading corporates place in our capabilities and highlights our role as a strategic partner in their digital transformation journey.”
From his side, Harsha Shetty, Chief Executive Officer of Jindal Steel Sohar, said: “Our partnership with Bank Muscat marks a key milestone in our digital transformation journey. By adopting advanced B2B solutions for transactions, we are enhancing the efficiency, transparency, and control of our financial operations. Bank Muscat has been a trusted partner since the inception of our operations in Oman, and this collaboration further strengthens our ability to drive operational excellence and deliver greater value to our stakeholders.”
The signing of this agreement reflects Bank Muscat’s commitment to supporting large corporates and industrial institutions in Oman by providing innovative banking solutions that facilitate operations and enhance financial efficiency, in line with digital transformation trends and national economic priorities.
The bank also continues to strengthen its efforts by launching technology-driven initiatives that empower businesses and support financial inclusion in the Sultanate. Strategic partnerships with technology providers and fintech companies remain a key pillar in the bank’s journey to develop advanced banking services that keep pace with evolving market dynamics.
Over the past period, Bank Muscat has received numerous local, regional, and international awards. These include being listed among Forbes’ top companies in the Middle East, winning the Gold Award at the Infosys Finacle Innovation Awards for digital banking innovation, receiving the Excellence in Digital Banking Services Award at the OER Live DX Oman conference, and being recognized as “Best Performing Company” in the large-cap category at the 2025 Alam Al Iqtisad Wal Aamal Awards.
