Oman Launches African Bank to Advance Economic Diplomacy Under Sultan Haitham bin Tarik’s Vision

The African Bank of Oman (ABO) was officially launched in Luanda, Angola, on April 20, 2026, marking a strategic step in Oman’s economic diplomacy and its efforts to strengthen international investment ties with Africa.

The establishment of ABO reflects the economic diplomacy principles defined by His Majesty Sultan Haitham bin Tarik, aimed at enhancing Oman’s investment and economic presence on the international stage and solidifying its role as a financial bridge between the Middle East and emerging global markets.

Licensed and regulated by the National Bank of Angola, ABO will focus on corporate and institutional clients, including multinational firms, government entities, and international investors, with a particular emphasis on sectors central to Angola’s development agenda such as energy, mining, infrastructure, agriculture, logistics, telecommunications, and industry.

The launch comes 11 months after Angolan President João Lourenço visited Oman, highlighting the accelerating pace of economic engagement between the two countries. His Highness Sayyid Theyazin bin Haitham Al Said, Deputy Prime Minister for Economic Affairs of Oman, stated that the bank embodies the economic diplomacy approach championed by Sultan Haitham bin Tarik and reinforces Oman’s commitment to linking global markets through stability, trust, and deep-rooted international relations.

ABO’s establishment aligns with Oman Vision 2040, which prioritizes economic diversification and the expansion of the sultanate’s international investment footprint. The initiative also supports Angola’s long-term national development plan, Angola Strategy 2050, which emphasizes economic diversification, privatization, infrastructure development, and opening productive sectors to international investment.

According to Abdulsalam bin Mohammed Al Murshidi, President of the Oman Investment Authority, the bank represents a strategic step in expanding Oman’s global investment footprint and strengthening its presence in Africa’s emerging markets.

The African Bank of Oman is positioned as a financial platform to support trade and investment flows between Africa and the Middle East, further consolidating Oman’s role as a recognized source of financial and institutional expertise within the international financial sector.