MUSCAT, 29 April 2018
Bank Muscat, the flagship financial services provider in the Sultanate, in step with its vision 'To serve you better, everyday' and commitment to strengthen support to small and medium enterprises (SMEs), has announced enrolment of two new batches at al Wathbah Academy targeting entrepreneurs in Muscat and Sharqiayh governorates.
The training programme is targeted at Omani entrepreneurs promoting 100 per cent Omani-owned SME enterprises with existing relationship with Bank Muscat. The business should have a track record of profitability over the last 2 to 3 years. Interested applicants are required to register online at alwathbah[a]bankmuscat.com and the last date for receiving the applications is 24 May 2018.
Fatma Al Maskiry, AGM – SME Credit, Marketing and Regional Corporates, said: “In line with the objective of the government to diversify the economy and create job opportunities for the country's youth, Bank Muscat is proud to play a key role in the development of successful SMEs in the Sultanate. Following successful al Wathbah Academy programmes in Muscat, Sohar, Salalah and Nizwa, the bank is widening its reach to benefit entrepreneurs in Sharqiyah governorate. The unique al Wathbah Academy programme reflects the bank's commitment to sustainable social development, strengthening the role of SMEs in the economic development of Oman. al Wathbah Academy programmes across Oman impart the required skills and guidance for entrepreneurs drawn from diverse fields to embark on successful SME business ventures. The programme leads to accredited international certification by Project Management Institute (PMI)."
The al Wathbah Academy was launched by the bank in 2014 as part of its Corporate Social Responsibility (CSR) initiative to equip youth with self-employment skills. Fifty-six enterprising entrepreneurs who completed the SME training programme in the previous batches of al Wathbah Academy till 2016 are successfully following their business dreams, contributing to the country's progress and development. Notably, the SME training programme is benefiting entrepreneurs across the regions to acquire the required skill set and knowledge to chart successful business ventures.
The bank's al Wathbah SME department offers a comprehensive suite of tailor-made finance solutions and non-financial services targeted at small and medium enterprises. Credit facilities, both short-term and long-term in nature, are available to all sectors. Further support is extended through non-financial services in areas of education, coaching, networking opportunities and workshops.
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.