Full list of banks in Oman

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A collection of Omani Rial banknotes arranged on a wooden surface, showcasing various denominations.
Credit: pexels.com, A collection of Omani Rial banknotes arranged on a wooden surface, showcasing various denominations.

Oman has a well-established banking sector, with a range of local and international banks operating in the country.

Al Ahli Bank of Oman, Bank Nizwa, and Bank Sohar are some of the notable local banks in Oman.

These banks offer a variety of services, including personal and business banking, loans, and investments.

Some of the international banks with a presence in Oman include HSBC, Standard Chartered, and Citibank.

List of Banks in Oman

Oman has a well-established banking sector with a range of local and international banks operating in the country.

The Central Bank of Oman regulates the banking sector and ensures that banks operate in a safe and sound manner.

Some of the notable banks in Oman include Bank Muscat, Bank Sohar, and Bank Nizwa, which are all licensed by the Central Bank of Oman.

Ahlia Ltd. (S.A.O.G.)

Ahlia Ltd. (S.A.O.G.) is a well-established bank in Oman, founded in 1976.

It is a public shareholding company listed on the Muscat Securities Market (MSM).

Credit: youtube.com, ✅ The 3 Best Banks in Oman (Full Guide) - Open Bank Account

Ahlia Ltd. has a strong presence in the country, with a network of branches and ATMs across Oman.

The bank offers a wide range of financial services, including corporate and retail banking, Islamic banking, and investment services.

Ahlia Ltd. has a significant market share in Oman and is considered one of the leading banks in the country.

It has a strong reputation for providing excellent customer service and innovative banking solutions.

The bank's commitment to technology has enabled it to provide efficient and secure online banking services to its customers.

Alizz Islamic (S.A.O.C)

Alizz Islamic (S.A.O.C) is an Islamic bank founded in 2012, with its headquarter located in Ruwi, Oman.

The bank has a strong focus on retail banking, treasury, and corporate banking, making it a reliable option for individuals and businesses alike.

As of 2019, the total assets of Alizz Islamic Bank were OMR 673.66 billion.

In the same year, the bank reported an operating income of OMR 10.0 million.

Alizz Islamic Bank manages a network of seven branches across Oman, providing convenient access to its services for customers.

Its commitment to Islamic banking principles sets it apart from other financial institutions in the country.

Bank Locations

Credit: youtube.com, TAS Morning Show : Forbes' top 50 banks in Middle East features 4 Omani banks | TAS TV

In Oman, you can find a total of 13 banks, offering a range of banking services to residents and visitors alike.

The largest bank in Oman is the Bank Muscat, with over 170 branches across the country.

You can find a Bank Muscat branch in almost every major city and town in Oman, making it easily accessible for customers to conduct their banking transactions.

Muscat

Muscat is home to Bank Muscat, a financial services provider established in 1982. The bank's headquarter is situated in Muscat.

Around 3024 people work at Bank Muscat.

The bank's focus is on retail banking, treasury, investment banking, asset management, and private banking.

Sohar (S.A.O.G.)

Sohar (S.A.O.G.) is a major port city in Oman that's home to a significant branch of the State General Reserve Fund (S.A.O.G.).

The S.A.O.G. bank location in Sohar is a popular destination for locals and tourists alike.

S.A.O.G. was established in 1980 to manage the country's oil revenues and has since become one of the largest financial institutions in Oman.

Credit: youtube.com, Bank Sohar Explainer Voiceover

The Sohar branch of S.A.O.G. offers a wide range of banking services, including personal and corporate banking, investment services, and more.

S.A.O.G. has a strong presence in Sohar, with a large branch that serves the city's growing business community.

S.A.O.G. is committed to providing excellent customer service and has a reputation for being one of the most trusted banks in Oman.

Dhofar

Dhofar is a great location to consider when looking for a bank. Bank Dhofar was founded in 1992.

The head-quarter of Bank Dhofar is situated in Muscat. This bank is focused on retail banking, treasury, investment banking, and corporate banking.

In 2020, Bank Dhofar had a total of 58 branches. They also manage ten Maisarah Islamic Banking branches.

Bank Dhofar has a large network of ATMs, with 645 available to customers. They also have 49 CDMs and 5 FFMs.

In Oman, you'll find a range of popular banks that cater to both businesses and individuals. They offer a wide array of financial services.

Credit: youtube.com, #GMEA24 Best Private Bank in Oman (Bank Muscat)

Bank Muscat is one of the largest banks in Oman, providing solutions for various industries. National Bank of Oman, another prominent bank, offers tailored services for businesses and individuals alike.

These banks maintain a strong digital presence, ensuring smooth transactions through secure platforms. Bank Dhofar is another notable bank in Oman, offering a range of financial services to its customers.

Top 10

The top banks in Oman are a crucial part of the country's financial landscape. There are 19 banks in total, divided into three sectors: local commercial, foreign, and specialized.

The local commercial sector is the largest, with 17 banks operating in Oman. These banks are regulated by the Central Bank of Oman, which controls interest rates and issues bonds and notes.

Bank Muscat is one of the most prominent banks in Oman, followed closely by Bank Dhofar and National Bank of Oman. These top 10 banks offer a wide range of financial services, from corporate lending to personal finance management.

Bright green and white neon signs of Lloyds Bank against a dark night sky.
Credit: pexels.com, Bright green and white neon signs of Lloyds Bank against a dark night sky.

Here are the top 10 banks in Oman, in no particular order:

  • Bank Muscat
  • Bank Dhofar
  • National Bank of Oman
  • Alizz Islamic Bank
  • Oman Arab Bank
  • Bank Nizwa
  • Ahli Bank
  • Bank Sohar
  • Beirut Oman Bank
  • HSBC Oman

These banks have a strong digital presence and secure platforms, making transactions smooth and efficient. Their personalized solutions cater to various industries, from business banking to personal finance management.

Arab

Oman Arab Bank is a great example of an Arab bank that's been around for a while. It was established in 1972.

The bank has a strong presence in Oman, with its head-quarter situated in Al-Ghubra, Muscat. Around 1500 people work here, which gives you an idea of its size.

Oman Arab Bank focuses on four main segments: retail banking, support, Islamic banking, and unallocated functions. This diverse approach helps the bank cater to a wide range of customers.

In 2016, the bank's total assets were OMR 3.30 billion, which is a significant amount.

International Banks

International Banks in Oman offer a range of services to both locals and expats.

Al Ahli Bank of Oman has a long-standing presence in the country, with over 60 years of experience.

Credit: youtube.com, Bank Nizwa on Oman's Islamic banking sector | World Finance Videos

Their services include corporate banking, retail banking, and Islamic banking.

HSBC Bank Oman provides a wide range of banking services, including personal banking, commercial banking, and wealth management.

Their services cater to both Omani nationals and expatriates, with multiple branches across the country.

Bank Muscat, the largest bank in Oman, offers a variety of services including corporate banking, retail banking, and investment banking.

Their extensive network of branches and ATMs makes banking convenient for customers nationwide.

Frequently Asked Questions

How many banks are there in Oman?

Oman has a total of 26 licensed banks, consisting of commercial, specialized, and Islamic banks. These banks are overseen by the Central Bank of Oman to ensure regulatory compliance and financial stability.

Which is the best international bank in Oman?

According to Euromoney, Sohar International Bank is the best bank in Oman, following a significant merger with HSBC Bank Oman in 2023. This merger has led to substantial growth in assets, market share, and workforce.

Can I open a bank account in Oman?

To open a bank account in Oman, you'll need a residence visa and a 'no objection' letter from your employer. You'll also need to provide proof of a regular income, such as a formal statement of your salary.

Forrest Schumm

Copy Editor

Forrest Schumm is a seasoned copy editor with a deep understanding of the financial sector, particularly in India. His expertise spans a variety of topics, including trade associations, banking institutions, and historical establishments. Forrest's work has shed light on the intricate landscape of Indian banking, from the Indian Banks' Association to the significant 1946 establishments that have shaped the industry.

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