MUSCAT, 18 December 2019
In continuation of its efforts towards supporting businesses in Oman, Bank Muscat, the leading financial institution in the Sultanate, recently organised a seminar in Sohar with the support of Public Establishment for Industrial Estates Sohar (Madayn) for officials and representatives from Small & Medium-sized Enterprises (SMEs) and Large Corporates in the North Batinah Governorate.
The seminar was much appreciated by the participants. Bank officials interacted with a large number of representatives from businesses in Batinah and introduced them to new services, products and banking facilities through a number of interactive presentations and discussions.
Importantly, Bank Muscat is the only bank to have a corporate banking branch in Sohar with a full-fledged Global Trade Services desk that can handle the trade-related needs of businesses of all sizes. The seminar also provided an opportunity for the exchange of views and the gaining of valuable feedback on the different services and facilities provided by the bank.
Speaking to the participants at the seminar, Ibrahim Khamis Al Balushi, AGM – SME & Regional Corporates, Bank Muscat, thanked all the bank’s customers for their confidence in the services and facilities provided by the bank. He stressed on the importance of the corporate sector in Oman in powering the economy to greater heights. He also pointed out to the role of the SME sector in further strengthening the concept of entrepreneurship and self-employment in the country.
Ibrahim Al Balushi added: “Bank Muscat has embarked on several initiatives in the recent past to further optimise its banking services and products for corporate customers. These are greatly improving customer service delivery in an increasingly digitally driven era.
Bank Muscat’s new digital services and products are enabling new business opportunities in the country. I would also like to point out that the Government of Oman, in partnership with the private sector, is also supporting the small businesses in Oman. The emergence of many SMEs across various sectors has led to a number of new job opportunities for young Omanis, confirming the importance of this sector to the Omani economy.”
It is important to note that the Corporate Banking branch in Sohar is able to service businesses ranging from SMEs to the largest corporate and is a one-stop shop for all types of business requirements ranging from a simple account opening to availing of credit facilities and more complex transactions as well as global trade services. The Corporate Banking seminar further reiterated Bank Muscat’s commitment to further enhance the banking experience of the corporate sector in Sohar and other parts of Batinah.
The bank’s Al Wathbah department offers a comprehensive suite of tailor-made finance solutions and non-financial services targeted at both small businesses as well as corporate enterprises. Credit facilities, both short-term and long-term in nature, are available to all sectors. Al Wathbah provides loans up to RO 250,000 so as to fuel further growth. Further support is also extended through non-financial services in the areas of education, coaching, networking opportunities and workshops. One such example is the bank’s Al Wathbah Academy. The objective of this ongoing educational initiative is to impart the required skills and guidance for entrepreneurs drawn from diverse fields to embark on successful business ventures.