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Bank Muscat to launch new initiative benefiting small businesses

MUSCAT, 13 October 2014 – Bank Muscat, the flagship financial services provider in the Sultanate, as part of its commitment to encouraging entrepreneurial initiatives, is all set to launch a new service benefiting micro and small businesses. The new initiative

aimed at giving a major boost to start-up and small businesses will be launched today (Tuesday, 14 October 2014) at the bank's head office under the auspices of  H.E. Eng. Ahmed bin Hassan Al Dheeb, Under-Secretary at the Ministry of Commerce and Industry.

In step with the directives of His Majesty Sultan Qaboos bin Said to strengthen the role of entrepreneurial ventures in the economic development of Oman, Bank Muscat has taken the lead to provide the required assistance to entrepreneurs. Over the past years, Bank Muscat has accomplished major achievements in this field, providing the required support for entrepreneurs, especially youth, who constitute the future of Oman. The bank's commitment stems from the strong belief that SMEs help boost the local economy, contribute to the GDP and create self-employment opportunities for youth who constitute the future of Oman.

The new service will significantly contribute to supporting small businesses by offering them the necessary facilities to take their first step confidently in the journey of success as well as encouraging the youth to join the world of entrepreneurship.

Over the past years, the bank 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.