Established in 1988, Mustafa Sultan Exchange Company is one of the pioneers in the remittance industry in the Sultanate of Oman. We specialize in foreign currency exchange and international money transfers, serving individuals and businesses with reliability, transparency, and trust.
We are part of the Mustafa Sultan Group, a prominent and diversified business conglomerate in Oman, our operations are further strengthened through management support from the State Bank of India (SBI), the largest public sector bank in India and among the top 50 global banks.
Over the years, we have built a strong presence with a network of 21 strategically located branches across the Sultanate. Each branch is designed to offer quick, secure, and efficient service to meet the remittance and currency needs of Oman’s multicultural community. Presence of experienced officers from SBI, brings international banking expertise, regulatory discipline, and service excellence to every customer interaction.
We offer a comprehensive suite of remittance and forex solutions, including:
At Mustafa Sultan Exchange, we are committed to ethical business practices, regulatory compliance, and delivering exceptional service to our valued customers. Our focus remains on upholding the trust placed in us, both by the regulators and the communities we serve.
The Company is wholly owned by Mustafa Sultan family.
Founder | Visionary Entrepreneur | Nation Builder
Mustafa Sultan was a man of vision, resilience, and action, a pioneering entrepreneur whose legacy
lives on through the institutions he built and the values he upheld.
Mustafa’s entrepreneurial journey began humbly - repairing radios in a modest workshop he
established as a young man. Later, he went on to become the founding architect of 11 companies
under the Mustafa Sultan Enterprises umbrella, all shaped by his guiding philosophy: "Your fortune
is in your own backyard, and all good education begins with skills."
Born in Muscat in 1937, he completed his education in Pakistan as well as in India. Through his lifelong commitment to enterprise, education, and nation-building, Mustafa Sultan helped lay the foundation for one of Oman’s most respected business groups - one that continues to serve the nation with integrity and excellence. He passed away on 13 October 2018, leaving behind a profound legacy of entrepreneurship, service, and visionary leadership.
Chairman | Strategic Leader | Business Innovator
Mr. Shabir M. Sultan is the Chairman of Mustafa Sultan Enterprises Group, having started as
Director of Mustafa Sultan Office Technology Co. LLC and the Lighting Division in 1988.
He has led strategic planning, aligning business goals with a customer-centric culture and talent
development across the group. Under his leadership, the group expanded its portfolio by adding new
business lines and broadening its geographical presence.
Mr. Shabir has cultivated strong relationships with international principals and key government stakeholders in Oman. His significant contributions have been recognized with prestigious awards from partners like Fujitsu, Kyocera, Samsung, G&D, and IDEAL. He continues to drive innovation and sustainable growth within the group.
Vice Chairman | Strategic Executive | Business Leader
Mr. Akber Mustafa Abdulredha Sultan has served as Vice Chairman of Mustafa Sultan Enterprises LLC
since February 2012. He holds a BSc in Business Administration from California State University,
Sacramento (2008) and a Master’s in Diplomacy from Norwich University, USA (2008).
He began his career in 1987 as Distribution Manager at Capital Stores, a subsidiary of Mustafa & Jawad Trading Company, and became Director of the Corporate Office in 1990. In 1999, he was appointed Managing Director of Mustafa Sultan Enterprises Co. LLC, overseeing key operational and strategic functions. His responsibilities include monitoring strategy implementation, assisting the Board in setting priorities, and evaluating organizational performance. He also manages financial compliance, facilitates strategic planning, and leads business development initiatives across the group.
Managing Director | Global Businessman | Diplomatic Leader
Mr. Abdulredha Sultan has been the Managing Director of Mustafa Sultan Enterprises since 1993,
bringing decades of leadership to the group.
With over 26 years of board-level experience in companies across Oman and internationally, he is a
seasoned executive known for his strategic insight.
Respected widely within Oman’s business community, he is recognized for his integrity and business
acumen.
He is a Founder Member of the Young Presidents' Organization (YPO) and has been an active member of the Oman British Friendship Association (OBFA) since 1999. Mr. Sultan also represents Finland in Oman as the Honorary Consul of Finland. His leadership continues to drive the group’s vision and global affiliations.
Director | Strategic Leader | Governance Champion
Noorjehan Mustafa A. Sultan has been a Director of Mustafa Sultan Enterprises LLC since 1995 and
serves as Chairperson of the Internal Audit Committee since 2013. She holds an MBA in Marketing
from the University of Hull, UK, and a Higher Diploma in Business Administration from Technical
Commercial College, Oman.
Noorjehan began her professional career in 1987 as a Credit Officer at the erstwhile Bank of Oman,
Bahrain & Kuwait (BOBK), where she worked for seven years. She joined Mustafa Sultan Enterprises
in 1995, starting in Receivables Management within the Electronics Business Unit, and later
contributed across various subsidiaries.
She was appointed Director in 2005 with responsibility for overseeing commercial functions across the group. As a board member, she plays a key role in evaluating and monitoring strategic initiatives, business plans, and corporate governance frameworks across the MSE group.
Director | Administrative Strategist | People & Culture
Advocate
Mrs. Najla M. Sultan serves as the Director, Administration at Mustafa Sultan Enterprises, a
position she has held since October 2009.
Najla holds a degree in Administration, completed in 1998, and brings deep expertise in employment
law, organizational planning, and compensation management. She oversees Administration, Human
Resources, and Head Office operations, acting as a vital support function across the group
companies.
Her strategic leadership has significantly contributed to building strong people practices and operational frameworks within the group. Through her experience and insights, she continues to strengthen the company’s administrative backbone and employee-centric culture.
Mr. S. Hari Baskar holds a B.Tech degree in Biotechnology from TNAU, Coimbatore, and an MBA in Marketing & Finance from Anna University. He brings over 15 years of diverse experience with the State Bank of India, India’s largest public sector bank and a Fortune 500 company. His career has spanned multiple domains including Retail Banking, Branch Management, Retail Risk Assessment, and Business Development.
He has a strong background in underwriting, relationship management, and regulatory compliance, with hands-on involvement in internal and external audits. Mr. Hari Baskar is a Certified Associate of the Indian Institute of Bankers and a certified member of the Association of Certified Anti-Money Laundering Specialists (ACAMS). He has also completed the Certification in Advanced Wealth Management from the Indian Institute of Banking and Finance. His strategic insight and deep commitment to regulatory excellence contribute significantly to the governance and operational effectiveness of Mustafa Sultan Exchange.
Our mission is to continuously improve all our business processes and productivity to achieve a level of excellence superior to our competitors and deliver the highest level of satisfaction to our customers and all the stakeholders.
To be regarded as a leader in every sphere of our activity and become the 1st choice and trusted name to our customers by providing world class products and services. We would achieve this by building a dynamic organization and committing ourselves to the highest ethical and professional standards.
