Bank Muscat reiterates commitment to SME development in Oman

MUSCAT: Bank Muscat, the flagship financial services provider in the Sultanate, and Meethaq Islamic Banking extended support to the 3-day seminar on SME Development organised by Oman Development Bank (ODB) in association with the Association of National Development Finance Institutions in Member Countries of the Islamic Development Bank (ADFIMI) under the auspices of Dr Ali bin Masoud Al Sunaidy, Minister of Commerce and Industry.

In line with the vision and directive of His Majesty Sultan Qaboos to stimulate an entrepreneurial mindset, Bank Muscat is aligned with the national objective to complement and add value to the country’s progress and development. Bank Muscat works hand-in-hand with the government and partners to create a favourable environment for SMEs in Oman.

Bank Muscat has initiated a series of innovative programmes benefiting SMEs. The bank’s al Wathbah SME department offers a comprehensive suite of tailor-made finance solutions and non-financial services targeted at small and medium enterprises. Credit facilities, both short-term and longterm in nature, are available to all sectors.

Further support is extended through non-financial services in areas of education, coaching, networking opportunities and workshops. One such example is the bank’s al Wathbah Academy. The objective of this ongoing educational initiative is to impart the required skills and guidance for entrepreneurs drawn from diverse fields to embark on successful SME business ventures.