Sohar International and Saudi Fintech barq Partner to Explore Digital Financial Services
The agreement was signed on the sidelines of Money20/20 in Riyadh, bringing together leading fintech companies, financial institutions and investors from across the region and beyond.
Reinforcing its commitment to advancing financial innovation and strengthening cross-market connectivity, Sohar International has signed a cooperation agreement with barq, a Saudi financial technology services company, to explore new opportunities at the intersection of banking and digital financial services. The agreement was signed on the sidelines of Money20/20 in Riyadh, bringing together leading fintech companies, financial institutions and investors from across the region and beyond.
The agreement was signed on behalf by Khalid Al Guthami, Country Chief Executive Officer of Sohar International’s KSA Branch, and Saad Almuhana, Co-Founder and Deputy CEO of barq, in the presence of Ahmed Mohamed Alenazi, Founder and CEO of barq.
“The evolution of financial services across the region is increasingly being shaped by the convergence of banking, technology and customer-centric innovation. At Sohar International, we are focused on building a globally connected financial platform that enables greater access to opportunities across markets and supports the changing needs of our customers and partners. Our cooperation with barq reflects this approach, bringing together complementary capabilities to explore solutions that can contribute to a more connected and digitally enabled financial ecosystem across Oman, Saudi Arabia and the wider region. We are keen to extend barq’s partnerships to financial institutions that share our ambition to improve the customer experience and harness the opportunities created by digital transformation. Our cooperation with Sohar International gives us the opportunity to explore new areas and work on models that can create lasting value for both parties.”
– Abdulwahid Mohamed Al Murshidi, Chief Executive Officer, Sohar International
The agreement establishes a framework for Sohar International and barq to leverage their complementary banking, technology and digital capabilities to explore innovative financial solutions and create greater value for customers. With Sohar International’s presence in Oman and Saudi Arabia, the collaboration provides a platform to explore cross-market opportunities that can contribute to a more connected and digitally enabled financial ecosystem, while supporting the continued evolution of financial services and taking into consideration applicable regulatory, operational and market requirements.
For Sohar International, the cooperation further strengthens its engagement with the region’s evolving financial ecosystem and supports its strategy of combining banking expertise, technology and strategic relationships to unlock new opportunities across markets. Building on its presence in Oman and Saudi Arabia, the Bank continues to advance its vision of becoming a globally connected financial institution, leveraging digital innovation and regional connectivity to deliver more relevant, accessible and future-ready financial solutions for its customers and stakeholders.
