Friendi Pay Signs MOU with Sohar International Bank to Strengthen Strategic Banking Collaboration in Oman
Payments Arabia LLC, operating as Friendi Pay, has signed a Memorandum of Understanding with Sohar International Bank, marking another important step in Friendi Pay’s continued growth journey in Oman and its wider ambition to build a stronger, more connected digital financial services ecosystem.
The MOU establishes a framework for strategic discussions and potential collaboration between Friendi Pay and Sohar International Bank across areas that may support Friendi Pay’s banking integration, operational capabilities, and customer experience over time. The agreement reflects the value of working closely with forward-thinking banking institutions as Friendi Pay continues to strengthen the foundations needed to serve individuals, businesses, and the wider payment ecosystem in Oman.
Friendi Pay works with a number of banking and ecosystem partners in Oman, each playing an important role in supporting the development of trusted, accessible, and customer-focused digital financial services. Sohar International Bank joins this broader network of strategic partners through a collaborative framework designed to explore areas of mutual interest and support future opportunities, subject to the relevant technical, commercial, and regulatory requirements.
As a Central Bank of Oman licensed Payment Service Provider, Friendi Pay remains committed to working within the Sultanate’s regulatory framework and supporting the national direction toward more inclusive and efficient digital financial services. The company recognizes the important role played by the Central Bank of Oman in enabling responsible innovation, strengthening trust in the financial ecosystem, and supporting the long-term development of the country’s digital economy.
The collaboration with Sohar International Bank is expected to focus on areas that can support Friendi Pay’s operational readiness, banking connectivity, and future customer experience. At this stage, the MOU does not represent the launch of any specific product or service, nor does it create a commitment to deliver any particular offering. Any future activity will be subject to further evaluation, definitive agreements, technical implementation, and the required regulatory approvals.
The announcement comes as Friendi Pay continues to build momentum following a strong first year in Oman. The company has seen encouraging growth and increasing interest from customers and partners, reinforcing the relevance of its mission to make financial services more accessible, useful, and connected to everyday needs.
Tawfiq Mohsin Al Lawati, CEO of Friendi Pay Oman, said: “This MOU with Sohar International Bank is an important step in our journey to build a stronger and more connected financial services ecosystem in Oman. Friendi Pay’s ambition has always been rooted in understanding what people and businesses actually need, then building trusted digital experiences around those needs. Banking collaboration is a critical part of that journey, and we are pleased to work with a forward-thinking institution such as Sohar International Bank as part of our broader network of strategic partners.”
“We are grateful for the role of the Central Bank of Oman in guiding and enabling responsible innovation across the sector. As a licensed Payment Service Provider, we are committed to growing in a way that supports Oman’s digital economy, strengthens confidence in digital financial services, and keeps the human experience at the center of what we do. This MOU is not about announcing products or making promises ahead of approvals. It is about building the right conversations, the right partnerships, and the right foundations for the future.”
Sohar CEO - Commenting on the partnership, Abdulwahid Mohamed Al Murshidi said, “The continued evolution of financial services increasingly depends on how effectively institutions can work together to create ecosystems that are secure, scalable, and responsive to changing customer expectations. Collaborations between banks and fintech platforms such as Friendi Pay reflect the broader direction in which the industry is moving, where innovation is strengthened by regulatory integrity, institutional expertise, and shared long-term ambitions. As digital financial adoption continues accelerating, partnerships of this nature will play an important role in shaping a more connected and future-ready financial landscape that supports wider economic progress and national development priorities.”
Friendi Pay views this MOU as part of a broader partnership-led approach to growth. By engaging with banks, regulators, technology providers, and ecosystem stakeholders, the company aims to create practical financial experiences that respond to real market needs while supporting the development of a more efficient and trusted digital payments environment.
The company expects to continue exploring further strategic collaborations in Oman as it expands its role within the local fintech and payments landscape. Future announcements will be made as and when discussions progress, approvals are secured, and specific areas of collaboration are ready to be shared publicly.
The MOU reflects the growing momentum of Oman’s fintech sector and the importance of collaboration between payment service providers, banking institutions, and regulators in creating more accessible and human-centric financial services. For Friendi Pay, the focus remains clear: build responsibly, work with strong partners, and help make everyday financial interactions simpler for the people and businesses it serves.
