Oman’s first local financial institution National Bank of Oman (NBO) has signed a Memorandum of Understanding (MoU) with the leading engineering company Oman National Engineering & Investment (ONEIC) to explore technical and financial opportunities.
According to the statement, the bank will collaborate with ONEIC on a range of shared digital solutions, distribution channels, infrastructure, and training courses as part of the deal, with the goal of generating new revenue streams, creating sustainable and scalable partnership models, and reaching untapped markets.
“As part of our efforts to enrich the Sultanate’s banking industry with the latest technologies and know-how, we are pleased to have joined with ONEIC. The partnership is a major step in helping us to maximize our digital and technical capabilities, develop our products and services, provide added value to our customers while adding overall economic value according to Oman’s 2040 Vision.”
“Our agreement with NBO is a welcome addition to our growing portfolio of partnerships and a testament to how such partnerships between government institutions and private sector companies can promote innovative thinking and growth within the economy. Through it, we look forward to delivering added value to people across the Sultanate,” commented Dr. Rashid Mohamed Al Ghailani, CEO of ONEIC.
As per the statement, NBO is providing integrated banking services with an innovative approach through a number of relationships with both public and private institutions. The bank is assisting the Sultanate’s development while solidifying its place as a preferred financial institution by offering a variety of engaging solutions, products, and world-class customer services.