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Overwhelming response for Al Wathbah Ramadhan souq hosted by Bank Muscat

Muscat 13 July 2014: Bank Muscat, the flagship financial services provider in the Sultanate, concluded Al-Wathbah Ramadhan souq showcasing Omani business entrepreneurs at the bank's Head office between 10-12 July 2014. The souq was a big success, as the bank offered a public platform for Omani entrepreneurs to exhibit their work. Visitors were able to pick and choose from the products of 100 stalls, including abayas, jalabiyas, accessories, home decoration, food stuff and much more. The souq aimed to encourage Omani women, create opportunities for them to build their business, as well as to help them become financially independent and self sustainable.

Al Wathbah Ramadhan souq was launched by Sulaiman Al Harthy, GGM Islamic Banking, Bank Muscat, and attended by a number of officials from the bank and invitees. Many entrepreneurs participated in Al Wathbah Ramadhan souq to present a variety of products suitable for women, families as well as services provided to individuals, companies and institutions.

Sulaiman Al Harthy, GGM Islamic Banking, Bank Muscat, said: "These events are very important for working women, to embark on self-employment and improve their living standards. A souq like this boosts the morale of the entrepreneurs and gives them an avenue to display their creativity and hard work and become active players in the Omani market. Note that Al Wathbah, the SME Credit and Marketing Department of Bank Muscat, has been very dynamic in financing businesses and strengthening the SME foundation in Oman. Bank Muscat strongly  believes that SMEs help boost the local economy, contribute to the GDP and create employment opportunities. The bank not only provides funding but also training, counseling and sponsorship to SMEs which were very successful".

Ilham Al-Hamaid, AGM - SME Credit & Marketing, Bank Muscat, said: "We are glad with the success of Al Wathbah Ramadhan souq for the second  year in a row, and the large number of participants and visitors who attended the souq this year as well as the positive feedback received from the visitors. This year we were proud to have more than 200 Omani business women with us, exhibiting various kind of products including food items, clothing, accessories, home decorations and much more. Al Wathbah, Bank Muscat's small and medium enterprise (SME) department, has been very dynamic in financing businesses and strengthening the SME foundation in Oman. ".

It is worth mentioning that Bank Muscat launched the first-of-its-kind Al Wathbah Business Zone, a unique facility that addresses a long-felt need of entrepreneurs in Oman. The business zone, which can be used free of cost by SME customers who do not have their own office space, offers the bank's expertise developed over the past 30 years to deal with all aspects ranging from conceptualisation to setting up of successful SME units. Al Wathbah Business Zone located at the bank's head office has evoked good response from entrepreneurs with start-up ventures. Over the years, Bank Muscat has taken several strategic steps to strengthen the SME sector in Oman. Aimed at strengthening the SME sector, Bank Muscat offers a comprehensive suite of tailor-made finance solutions.