Sohar International has entered into a strategic Memorandum of Understanding (MoU) with Friendi Pay, formalizing its appointment as the fintech platform’s Official Banking Partner.
Signed at the bank’s Waterfront headquarters by Abdulwahid Mohamed Al Murshidi, CEO of Sohar International, and Tawfiq Al Lawati, CEO of Payments Arabia (Friendi Pay), the milestone alliance is designed to fortify the underlying financial infrastructure powering digital payment ecosystems within the Sultanate of Oman.
Aligning seamlessly with the national priorities of Oman Vision 2040, this partnership merges institutional banking prestige with agile technological enterprise to catalyze the country’s burgeoning digital economy.
Corporate Banking Architecture and Operational Roles
Under this sophisticated framework, Sohar International will deploy its robust institutional banking capabilities to orchestrate Friendi Pay’s complex operational and back-end demands. This bespoke enterprise support optimizes transactional efficiency across multiple core corporate verticals:
- Treasury & Capital Management: Tailored treasury-related banking services alongside comprehensive vendor payment models.
- Liquidity & Settlement Channels: Highly secure corporate collection models and streamlined settlement processing networks.
- Operational Disbursements: Corporate payroll distribution systems designed to scale alongside corporate requirements.
Regulated Infrastructure & Asset Protection
Beyond operational mechanics, the partnership establishes the rigorous, regulated banking framework vital for sustaining high-volume, customer-facing fintech applications. The architecture incorporates advanced international remittance capabilities and seamless payment settlement processes. Crucially, in strict compliance with the mandate of the Central Bank of Oman, all customer balances will remain robustly ring-fenced and fully segregated within the regulated banking system, ensuring unparalleled regulatory integrity and asset protection.
Commenting on the partnership, Abdulwahid Mohamed Al Murshidi, CEO of Sohar International stated, “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.”
Pioneering Next-Generation Fintech Capabilities
The horizon of this alliance extends well into advanced financial technology ecosystems. Sohar International is set to empower the platform with specialized fintech architecture, including Wage Protection System (WPS) enablement, robust merchant acquiring frameworks, and scalable card issuance infrastructure. By blending institutional legacy with digital-first solutions, the collaboration elevates financial inclusion and payment innovation, positioning Oman’s corporate financial sector to flexibly capitalize on future global market dynamics.
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