Najahi from Bank Muscat empowering small businesses

The Small and Medium Enterprises (SME) segment has witnessed increasing attention worldwide due to the essential role they play in supporting economies.

Being an integral part in sustainable development plans, Micro, Small and Medium enterprises contribute directly in growing Oman’s GDP, creating job opportunities for the youth and empowering them. The development of this sector is part of the objectives of Oman Vision 2040.

Further, the National Programme for Fiscal Sustainability and Financial Sector Development (Estidamah) includes, as part of its key pillars, the importance of developing financing products that suit the needs of this sector.

Bank Muscat, the leading financial services provider in the sultanate, realises this importance and works to enhance its role in supporting the sector. One step taken in this regard is the inauguration of Najahi Business Banking in 2014 to support SMES by providing a suite of financing options.

The products and services provided are designed to help these enterprises grow and thrive in their business, thus creating a positive impact on the community.

About the services offered by Najahi Business Banking, Abdulnasir al Raisi, General Manager - Personal Banking, Bank Muscat, said, “Bank Muscat realises the

Since its inception, Najahi contributed in supporting more than 2500 businesses operating in retail trading, services, manufacturing and processing, and other areas ABDULNASIR AL RAISI

vital role SMES perform and we work relentlessly to develop financial services to support their growth and development. Najahi Business Banking is an excellent example of the bank’s role as a partner in sustainable growth and development.

“Since its inception, Najahi contributed in supporting more than 2500 businesses operating in retail trading, services, manufacturing and processing, construction, hospitality, travel and tourism, mining and agriculture sectors. These positive results have been made possible because of the continuous trust our valued customers put in the financing facilities and services offered.”

The Najahi products suite includes three financing products, namely Najahi Flexi Loan, Najahi POS Receivables Financing and Contract Finance.

All financing options are available to the bank’s customers’ collateral-free’.

Entrepreneurs can make use of the Najahi Flexi Loan to take a loan that can be repaid in monthly instalments for up to a maximum tenure of 36 months. Customers will benefit from the flexibility to avail multiple disbursements as per their business cash flow demands and the interest is calculated only on the disbursed amount.

Customers with short-term financing needs will find the Najahi point of sale (POS) financing product particularly useful.