Muscat, 16 December 2018: In recognition of the importance of SMEs to the growth of the economy, Oman Arab Bank (OAB) recently conducted a visit to Dhakliya region to visit SMEs it had supported in the past, as well as explore new opportunities for partnerships. The delegation from OAB included several members of the Bank’s Corporate Banking department and was headed by the CEO, Rashad Al Musafir.
Commenting on the visit, Rashad Al Musafir said, “Small and Medium Enterprises play a vital role in developing any country’s national economy, especially for one such as ours that looking towards further economic diversification. SMEs also provide vital employment opportunities and encourage self-employment. This is why place great importance in offering them as much support as possible; be it by offering them innovative tailor-made financial products with all processes being completed in a timely manner, offering them consultancy and guidance services, or by tying up with various other entities that are supporting SMEs to help boost their services.”
The visit saw the delegation visited craftsmen and SMEs in the Dhakliya region. A large number of these visits were to companies and individuals the Bank had supported in the past in order to see how their businesses were developing as well as to obtain their feedback on the services and products offered by OAB. In addition, the delegation was also on the lookout for new opportunities for collaboration and partnerships as well as to develop synergies with companies under its support umbrella in order to further boost the growth and development of SMEs in the region.
“The SME sector greatly contributes to economic diversification and social stability, and plays an important role in private sector development. Meeting such as these help us collectively recognise the untapped and profitable opportunities present within the sector as well as provides us with a better understanding of how we can cater to as SME’s financial needs,” concluded Rashad.
Oman Arab Bank is one of the first banks to be established in Oman, with a rich and proud history. Today, the bank operates a nationwide network of 65 branches and representative offices and 150 ATMs spread across the Sultanate. OAB provides the complete range of financial products and services for personal banking, corporate and investment clients.