geo/oman
In line with the Government's initiatives to boost the Small and Medium Enterprises (SME) sector in the Sultanate, Sohar Islamic has announced yet another significant addition to its product portfolio - SME Financing. This new product aims to provide a boost to entrepreneurs in Oman, while fully conforming to the precepts of Shari'ah law.
Oman has launched a new national fund for the development of small and medium enterprises (SMEs), adding new impetus to the government's efforts to nurture a strong entrepreneurial culture among youngsters in the Sultanate. The SME Development Fund (also known as Al Namaa Fund) has been set up with a capital of RO 100 million, a key executive representing the fund manager recently announced. The fund is designed to help Omani entrepreneurs obtain debt finance ranging from RO 50,000 to RO 300,000 for their small and medium-scale enterprises.
Bank Muscat hosted SME businesswomen as part of activities linked to its al Wathbah Businesswomen’s Forum. The forum is the first-of-its-kind online networking platform launched by the bank to encourage and promote women empowerment, especially through business networking among women entrepreneurs.
With Oman reviving its interest in small and medium enterprises, recognising their contribution to economic growth and employment generation, the country has developed programmes to set up new units, support them and help them succeed. His Majesty Sultan Qaboos bin Said has stressed on the economic importance of SMEs in national development and also announced a new fund dedicated to the sector.
Bank Muscat, the flagship financial services provider in the Sultanate, yesterday launched a unique SME financing programme which addresses a long-felt requirement of entrepreneurs in Oman. The new facility broadens financial access and helps entrepreneurs overcome challenges arising from non-availability of collaterals for SME finance.
Bank Muscat has launched an SME financing programme aimed at addressing a long-felt requirement of entrepreneurs in Oman. The bank claims the new facility broadens financial access and helps entrepreneurs overcome challenges arising from non-availability of collaterals for SME finance.
