MUSCAT, 30 May 2015 – Bank Muscat, the flagship financial services provider in the Sultanate, as part of its commitment to the small and medium enterprises (SEM) sector, extended lead support to Bindera Village exhibition showcasing SME products and services from Oman and the neighbouring GCC countries. The 2-day exhibition was held under the patronage of H.E Shaikh Sibbaa bin Hamdan Al Saadi, Secretary General of the High Committee for National day, at Bahja Hall, Qurum.
Bank Muscat showcased its najahi suite of products and services, which evoked strong response at the exhibition. najahi offers a major boost for start-up and small businesses in Oman, complementing the government efforts in encouraging Omani youth to embark on entrepreneurial pursuits and thereby make vital contributions to the economy.
The specially designed najahi products include credit facilities not requiring collaterals or guarantees for small business segment to establish and develop their business. With najahi, Bank Muscat fulfills the primary need of finance for the small business segment to embark on entrepreneurial ventures.
In the Oman market, there are thousands of small business customers who do not have access to formal credit facility. najahi offers the required facilities and support for micro and small businesses to take their first step confidently in the journey of success as well as encourages youth to join the world of entrepreneurship.
The najahi suite of products comprise flexi loan to support working capital, business expansion and other business needs; contractors loan to complete contracted jobs; contractors bill of discounting against bills submitted for completed contracted jobs; specially designed current account facility with dedicated relationship managers and insurance cover for business premises.
Bank Muscat has launched a series of initiatives to strengthen the SME sector in Oman. Serving as building blocks for entrepreneurs, these initiatives assume importance in the backdrop of the priority accorded by the government to develop the SME sector in Oman.