MUSCAT,11 June 2017 – Bank Muscat, the flagship financial services provider in the Sultanate, and Riyada - the Public Authority for SME Development, joined hands to provide a major thrust for entrepreneurs as al Wathbah Ramadhan Souq, an exhibition showcasing products and services by SMEs, evoked strong response. AbdulRazak Ali Issa, Chief Executive, inaugurated the 3-day exhibition held at the bank's head office from 8 to 10 June.

In line with the bank's 'Let's Do More' vision and commitment to partnership in sustainable development, al Wathbah Souq highlighted a wide range of home-made products, including clothes, accessories, food items, home decorations and much more at competitive prices. The exhibition offered a unique shopping experience to visitors.

AbdulRazak Ali Issa said: “Bank Muscat, in association with Riyada, is proud to host the annual al Wathbah Ramadhan Souq in support of entrepreneurs in Oman. In an environment where competition is becoming tougher, identifying and seizing opportunities is essential for Omani SMEs to survive and grow. Over the years, Bank Muscat, in association with Riyada, has been very dynamic in strengthening the SME foundation in Oman. The bank remains committed to facilitating avenues for entrepreneurs to follow their business dreams."

Khalid Al Safi Al Haribi, Acting CEO of Riyada, congratulated Bank Muscat for hosting the annual al Wathbah Ramadhan Souq. Al Haribi said: “Riyada is happy to partner with Bank Muscat in this unique initiative benefiting entrepreneurs in Oman. The souq fulfills a critical need in creating avenues to successfully market SME products. The souq serves as a source of inspiration and encouragement for entrepreneurs to embark on SME initiatives and thereby contribute to the progress and development in Oman."

In pursuance of the private sector role in the economic development of Oman, Bank Muscat, in association with Riyada, organises activities in support of SME development in Oman. al Wathbah Ramadhan Souq was particularly targeted at entrepreneurs pursuing home-based business activities. Riyada and Bank Muscat from time to time organise events with the aim of creating unique opportunities to market home-based products and help entrepreneurs become financially independent.

Bank Muscat offers a comprehensive suite of tailor-made finance solutions and non-financial services targeted at small and medium enterprises. The bank imparts the required skills and guidance for entrepreneurs drawn from diverse fields to embark on successful SME business ventures through workshops, advisory services and training through al Wathbah Academy programmes in Muscat, Sohar and Salalah. Serving as building blocks for existing and prospective entrepreneurs, all these initiatives assume importance in the backdrop of the priority accorded by the government to develop the SME sector in Oman.