As part of its ongoing efforts to encourage Small and Medium enterprises (SMEs) and generate In-country Value (ICV), Bank Sohar recently participated in the Finance and Banking Facilities Forum in Rustaq, showcasing a range of market leading solutions whilst engaging Oman’s growing corporate and SME sectors. Organised by Oman Chamber of Commerce and Industry’s branch in Al Batinah (South), the event was held on 24-25 October 2018, featuring HE Taher Al Amri, Executive President of Central Bank of Oman, as the Guest of Honour.
Bank Sohar’s representatives at the forum’s co-located exhibition offered valuable information to visitors and highlighted facilities tailored to meet the needs of the business sector, particularly those designed to help promote sustainable development in the SME sector.
Commenting on the Bank’s participation, Mr Ahmed Al Musalmi, CEO of Bank Sohar, said, “Our participation at such platforms is critical to our advancement as a market leading facilitator of commercial activity in Oman, aiding the growth of the corporate and SME sectors as primary contributors to the nation’s increasingly diversified economy. Receiving firsthand feedback from stakeholders is essential in the bank’s work to identify new niches for product innovation as an important mechanism for developing the business sector’s economic activities. As we work to go beyond meeting market demand, our engagement strategy is committed to utilizing stakeholder feedback in order to raise efficiency of our services and enhance the quality of product delivery in-line with the bank’s comprehensive strategy for banking excellence”.
Bank Sohar maintains its corporate credit facility as a unique regional banking solution for the sector, in addition to its SME Unit ‘Aafaaq Al Najah’ with a team dedicated to servicing local SMEs in many key sectors, including Construction, Property development, Trading, Manufacturing, Retail & Wholesale trade, Transportation, Hospitality, Communications and others. Other products and services offered to the business sector include working capital, structured and short-term finance agreements, bill term lending, corporate salary accounts, and letters of credit and guarantee. The latter two are now promised to be issued within just 30 minutes under the bank’s on-going efficiency campaign.
Demonstrating its commitment to supporting economic activity the bank’s engagement with the business sector has recently helped empower local youth involved with the Association for the Welfare of Handicapped Children by sponsoring the third Unity Expo in Muscat, providing SMEs with an opportunity to showcase their products whilst raising the non-profit’s profile to generate funds for the next academic year.
For more information on Bank Sohar visit www.soharinternational.com or call 24730000. You can also follow the Bank on Facebook at www.facebook.com/sohar.intl, on Instagram at www.instagram.com/sohar_intl or join the conversation on Twitter @sohar_intl.