SOHAR: Sohar International Bank has formally disclosed to the Muscat Stock Exchange that it submitted a request to the Central Bank of Oman on August 13, 2025, seeking in-principal approval to pursue a non-binding offer for the proposed acquisition of Bima, Oman’s first fully digital insurance portal. The platform enables customers to compare and purchase insurance products, including motor, travel, domestic, medical, and credit-life coverage, through an intuitive online interface connecting multiple insurers.
The bank highlighted that the acquisition aligns with its broader vision of becoming a world-class service company, supporting customers, communities, and stakeholders to prosper and grow. By integrating Bima’s digital capabilities, Sohar International aims to enhance its service offerings and strengthen its position in the evolving financial services sector in Oman.
Completion of the proposed transaction remains contingent on thorough due diligence, negotiation and execution of definitive agreements, and securing all required regulatory, corporate, and other mandatory approvals. Sohar International emphasized that each step will be carried out in compliance with applicable legal and regulatory frameworks to ensure transparency and protection of stakeholder interests.
The move reflects the growing trend of digital transformation within Oman’s insurance and banking sector, highlighting the importance of technology-driven solutions in enhancing customer experience and operational efficiency. Analysts suggest that successful integration of Bima could provide Sohar International with a competitive edge and reinforce its commitment to innovation and digital financial services.
