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Bank Muscat hosts social media seminar for SMEs

MUSCAT, 21 April 2014 – Bank Muscat, the flagship financial services provider in the Sultanate, hosted a seminar on social media for the small and medium enterprise (SME) sector at the bank’s head office. The seminar organised by the bank’s al Wathbah SME department evoked strong response from existing and prospective entrepreneurs who familiarised themselves with the scope of widening their SME ventures through the use of social media marketing communication strategies.

Ilham al Hamaid, AGM – SME Credit, Marketing and Regional Corporates, said: “Bank Muscat regularly organises workshops and seminars to facilitate unique learning opportunities to address the challenges faced by entrepreneurs and thereby create an environment favourable for SME success. Over the years, Bank Muscat has launched several initiatives as part of its commitment to SME development in Oman. Serving as building blocks for existing and prospective entrepreneurs, these initiatives assume importance in the backdrop of the priority accorded by the government to develop the SME sector in Oman. Aimed at strengthening the SME sector and creating a successful generation of entrepreneurs, al Wathbah is committed to launching such unique initiatives.”

In line with the directives of His Majesty Sultan Qaboos bin Said to support the SME sector and strengthen its role in the economic development of Oman, Bank Muscat has taken the lead to develop the SME sector in Oman. The first-of-its-kind initiatives recently launched by al Wathbah include an innovative SME financing programme not requiring collateral guarantee. The al Wathbah SME Non-Collateral Programme is a bold step affirming the bank’s commitment to encouraging an entrepreneurial culture in Oman. Aimed at strengthening the SME sector, Bank Muscat offers a comprehensive suite of tailor-made finance solutions