Sohar International joins Estidamah to set up Omani Business Growth Fund

Sohar International Bank has joined hands with the National Program for Fiscal Sustainability and Financial Sector Development (Estidamah) and the British Embassy to initiate the establishment of the Omani Business Growth Fund.

The collaboration aims to strengthen the financial sector, enhance competitiveness, and expand access to tailored financing options in line with global best practices. The overarching goal of this initiative is to stimulate market growth and foster economic diversification, supporting Oman's long-term vision for sustainable development and economic prosperity.

The official signing ceremony, held within the framework of the 10th meeting of the Omani

British Strategic Group, symbolises the unwavering commitment of both local and international stakeholders towards the prosperity of Oman.

H E Nasser bin Khamis al Jashmi, President of the Tax Authority, led the Omani delegation, while Lord Gerry Grimstone headed the British delegation. Furthermore, the presence of H E Dr Khamees bin Saif al Jabri, President of Oman Vision 2040

Implementation Follow-up Unit, underscores the importance of this initiative in advancing the nation's long-term objectives.

H E Mahmood bin Abdullah bin Ahmed al-owaini, Secretary General of the Ministry of Finance, alongside Dr Liane Saunders, the designated Ambassador of the UK to Oman, and Khalil Salim al Hedaifi, Chief Government and Private Banking Officer, have officially endorsed the letter of intent for the establishment of the Omani Business Growth Fund.

In a press release, Khalil Salim al Hedaifi, Chief Government and Private Banking Officer at Sohar International, said, "This represents a significant milestone for Sohar International, reaffirming our unwavering commitment to driving Oman's economic development forward. These strategic alliances underscore our steadfast pledge to support local businesses and entrepreneurs, enabling Omani enterprises to flourish in both domestic and international markets, thus paving the way for boundless opportunities. Together, we aim to ignite unprecedented growth and cultivate lasting economic prosperity in the sultanate."