NEWS
Mashreq expands corporate banking services to Oman with tailored financial solutions
Mashreq , one of the financial institutions in the MENA region , has announced its entry into Oman , seeking to strengthen its position with a range of personalized financial services tailored for the Sultanate ’ s evolving corporate and public sectors . This strategic move underscores Mashreq ’ s intent to contribute to Oman ’ s Vision 2040 , with ambitions to fuel economic diversification and elevate Oman ’ s position in the global financial landscape .
Mashreq ’ s entry into Oman will bring a comprehensive suite of banking services , including treasury , global transaction banking , and sustainable finance . Through its innovative approach and robust operational structure , the bank aims to unlock value in critical sectors like tourism , logistics , manufacturing , and renewable energy , in line with Oman ’ s economic objectives .
Mashreq ’ s entry into Oman comes amid growing demand for financial solutions aligned with regional and global market trends . The bank ’ s proven track record of industry-initiatives and adaptability solidifies its role as a significant growth partner in the region .
Ahmed Abdelaal , Group CEO of Mashreq said “ Oman ’ s strategic location and its dynamic economic landscape make it essential to Mashreq ’ s international growth ambitions .
Our goal is to support Oman ’ s economic objectives through tailored financial solutions that not only enhance regional integration but also reinforce Oman ’ s influence in the global financial ecosystem .”
Tarek El Nahas , Group Head of International Banking at Mashreq , noted , “ By combining global reach with deep local expertise , we navigate regulatory landscapes with agility , offering solutions that drive financial efficiency and resilience . This approach empowers clients to optimize their crossborder operations , capturing opportunities essential to long-term success in today ’ s competitive market .”
AlSalt Mohammed Al Kharusi , Mashreq ’ s Country Head for Oman , remarked , “ Our focus is on fostering a resilient generation of entrepreneurial talent and supporting the growth of a dynamic , knowledgedriven economy .”
Al-Madinah Development Authority implements Oracle Fusion Cloud Applications Suite
Oracle announced that the Al-Madinah
Development Authority has achieved a significant milestone in implementing the Oracle Fusion Cloud Applications Suite . The MDA has implemented the Oracle Fusion Cloud Enterprise Resource
This achievement is part of the Authority ’ s efforts to enhance operational efficiency , boost productivity , and adopt the latest digital technologies . The project was executed in collaboration with technical partners and industry experts .
MDA has successfully redeployed its Oracle Fusion Applications Suite implementation from an international location to the Oracle Cloud Jeddah Region . This initiative has helped MDA enhance data security and improve system performance . the cloud to break down organisational silos , standardise processes , and manage financial , supply chain , and HR data on a single integrated cloud platform ”, said Reham Al Musa , Vice President Business Applications , Public Sector and Managing Director , Saudi Arabia , Oracle .
“ With this deployment , Madina Development Authority has created a modern and agile cloud applications platform that will help accelerate key initiatives .”
Planning , ERP , Oracle Fusion Cloud Supply Chain and Manufacturing , SCM , and Oracle Fusion Cloud Human Capital Management , HCM . Additionally , a custom application for managing supplier payments has also been developed .
The migration and re-deployment of the cloud applications were carried out smoothly and securely , enabling the Authority to fully leverage the capabilities of Fusion Applications to optimise processes and productivity .
“ Oracle Fusion Cloud Applications Suite enables organisations to take advantage of
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