Impetus for SME sector

successful launch of Oman’s rst Islamic bank opens up new possibilities for the nancial sector. There is optimism that Sharia based nance will open up a new source of lending for SMEs, which nd conventional banks too bureaucratic and stodgy for their liking. It is hoped that Bank Nizwa and other Islamic windows to follow will actively support the SME sector, as well as extend micro nance to home businesses, such as housewives, retirees, and others with modest funding requirements.

— Shaimah M

Clearly, a new era in banking has dawned with the launch of Bank Nizwa and its successful listing on the MSM.