Sohar International has signed a strategic partnership agreement with Terminal 11 โ an innovation hub that connects startups, corporates, investors, and government to develop, test, and scale solutions across regional and global markets. Initiated by the private sector in partnership with the Oman Investment Authority.
The agreement was signed at Sohar International’s headquarters by Abdulwahid Al Murshidi, Chief Executive Officer of Sohar International, and Abdullah Al Badi, Chief Executive Officer of Terminal 11, in the presence of executive management representatives from both organisations. Through this partnership, the bank is establishing Sohar | Innovation Hub at Terminal 11 to empower fintech ventures with the banking enablement, strategic partnerships, and institutional support needed to transform bold ideas into market-ready solutions.
Commenting on the initiative, Abdulwahid Al Murshidi, Chief Executive Officer of Sohar International, said: โThe future competitiveness of economies will increasingly be defined by their ability to cultivate innovation, foster collaboration, and create enabling ecosystems where ideas can evolve into scalable businesses. As Oman advances its ambitions under Vision 2040 to become a regional center for innovation and digital finance, partnerships such as this play a pivotal role in building a vibrant fintech ecosystem that attracts talent, accelerates entrepreneurship, and strengthens the nation’s digital economy. Realising this vision requires strong collaboration between financial institutions, government entities, investors, regulators, and entrepreneurs to collectively shape an ecosystem where innovation can thrive. By supporting fintech innovation today, we are helping build a more resilient, diversified, and globally competitive financial sector for the future. At Sohar International, we see our role extending beyond banking to serving as a strategic enabler of innovation, empowering entrepreneurs with the capabilities, partnerships, and financial infrastructure needed to transform ideas into solutions that deliver lasting value for Oman.โ
At the heart of the initiative is Sohar Innovation Hub, a dedicated space designed to bridge the gap between innovation and financial services. More than a physical workspace, it is a co-creation environment where fintech founders, technology entrepreneurs, and emerging ventures gain direct access to banking expertise, regulatory guidance, financial infrastructure, and institutional collaboration. By working alongside innovators from the earliest stages of product development, the bank aims to simplify market entry, accelerate growth, and strengthen the commercial readiness of new financial solutions.
Supporting ventures from early-stage startups to growth-stage fintechs, the hub provides a collaborative platform where entrepreneurs can fast-track product development through expert guidance, scale with tailored banking solutions, connect with regulators, investors, and strategic partners, and launch innovative solutions with the confidence of an established financial institution behind them. This reflects Sohar International’s commitment to enabling innovation not only through financial services, but through meaningful partnerships that foster sustainable growth across the fintech ecosystem.
Terminal 11 represents an important milestone in strengthening Omanโs innovation landscape by creating an innovation hub that connects startups, corporates, investors and government to develop, test and scale solutions into regional and global markets. By bringing together the public and private sectors, innovators, and industry leaders under one roof, the initiative reinforces the Sultanateโs commitment to building a more agile, technology-driven, and globally competitive economy.
Applications to join Sohar Innovation Hub are now open, inviting fintech founders, startup entrepreneurs, and technology innovators to become part of a collaborative ecosystem designed to accelerate growth, foster partnerships, and shape the future of financial innovation in Oman. Together with Sohar International, innovators will gain access to a platform that empowers them to transform ideas into impactful solutions.
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