MUSCAT, 19 June 2016 – Bank Muscat, the flagship financial services provider in the Sultanate and Riyada - the Public Authority for SME Development, joined hands to provide a major thrust for women entrepreneurs as al Wathbah Ramadhan Souq, an exhibition showcasing their products and services, evoked strong response. AbdulRazak Ali Issa, Chief Executive - Bank Muscat, inaugurated the 3-day exhibition in the presence of Khalid bin Al Safi Al Haraibi, Deputy CEO of Operations - Riyada, held at the bank's head office from 16 to 18 June as part of 'Ramadhan Al Khair' cultural and social events lined up during the Holy Month of Ramadhan.
In line with the bank's 'Let's Do More' vision and values of partnership and accountability, al Wathbah Souq aimed at giving wings to the business dreams of women entrepreneurs highlighted a wide range of home-made products, including clothes, accessories, food items, home decorations and much more. The exhibition offered a unique shopping experience to visitors.
AbdulRazak Ali Issa said: “Bank Muscat, in association with Riyada, is proud to host the annual Ramadhan Souq in support of women entrepreneurs in Oman. In an environment where competition is becoming tougher, identifying and seizing opportunities is essential for Omani SMEs to survive and grow. Over the years, al Wathbah, Bank Muscat's SME department, has been very dynamic in strengthening the SME foundation in Oman. The bank remains committed to facilitating avenues for women entrepreneurs to follow their business dreams."
Khalifa bin Said Al Abri, CEO of Riyada, congratulated Bank Muscat for hosting the annual al Wathbah Ramadhan Souq. Al Abri said: “Riyada is happy to partner with Bank Muscat in this unique initiative benefiting women entrepreneurs in Oman. The souq fulfills a critical need in creating avenues to successfully market their products. The souq serves as a source of inspiration and encouragement for women to embark on SME initiatives and thereby contribute to the progress and development in Oman."
Bank Muscat has launched various initiatives in support of women entrepreneurs, including al Wathbah Businesswomen's Forum aimed at facilitating development of key business relationships. The online platform provides leadership development opportunities and vital connections that help them advance and succeed in their businesses. The innovative networking service is dedicated to assisting businesswomen of all ages. The members enjoy benefits such as live accelerated networking events and workshops.
In recognition of SME development initiatives by women entrepreneurs, the bank presents the annual al Wathbah Businesswomen's awards.
Bank Muscat imparts the required skills and guidance for entrepreneurs drawn from diverse fields to embark on successful SME business ventures through workshops, advisory services and training through al Wathbah Academy programmes in Muscat, Sohar and Salalah.
These initiatives mark a clear progression of the well-defined stragy pursued by the bank in line with the directives of His Majesty Sultan Qaboos bin Said to support the SME sector and strengthen its role in the economic development of Oman.