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Bank Muscat explores SME opportunities with Malta business delegation

MUSCAT, 13 March 2017 – Bank Muscat, the flagship financial services provider in the Sultanate, participated in a business and trade forum organised by the Oman Chamber of Commerce and Industry coinciding with the visit of a business delegation from the Mediterranean island nation of Malta. The bank used the opportunity to organise a series of meetings to highlight its role in promoting the SME sector in Oman and also held one-to-one meetings with Maltese companies to discuss joint co-operation in the field of entrepreneurial pursuits.

The bank made a presentation on al Wathbah SME services at the Oman Chamber of Commerce and Industry, attended by the Malta business delegation and Omani SME invitees. The Sultanate's favourable investment climate covering various sectors and the thrust on SME development in which the bank plays a key role were highlighted in the bank's presentation.

The bank also hosted the Malta business delegation at the head office as part of an MoU to promote joint entrepreneurial initiatives between counterparts from the two countries. Facilitating unique SME opportunities, the bank arranged B2B meetings between Maltese companies and the bank's SME customers.

Fatma Al Maskiry, AGM – SME Credit, Marketing and Regional Corporates, said: “The visit of the Malta business delegation to Oman marks an important development in the joint investment, trade and business relations between Oman and Malta. In pursuance of the private sector role in the economic development of Oman, Bank Muscat is proud to support entrepreneurial initiatives between counterparts in Oman and Malta. Ever since Oman and Malta embarked on the joint pursuit of strengthening of trade and investment relations, Bank Muscat has been closely involved in these developments. Bank Muscat remains committed to playing a key role in facilitating mutually beneficial association with counterparts in Malta, thereby contributing to strengthening of relations between the two countries."

Reciprocal visits between delegations of the two countries are regularly done in which the bank is closely involved to facilitate joint collaboration in entrepreneurial initiatives. The major attractions of Malta connecting Europe with African markets as an offshore financial centre include world class facilities in ports, logistics and education. Malta offers key facilities to Omani business community, particularly SMEs, to tap European as well as African markets. Successful SME initiatives in Malta cover the sectors of education, real estate, information communication technology, waste management, consultancy, home décor and fine arts.

Bank Muscat is proud to have initiated a series of innovative programmes benefiting the SME sector in Oman. 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. 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.