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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

ODB launches new strategy, brand identity

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MUSCAT: Oman Development Bank (ODB) celebrated on Wednesday its 40th anniversary and launching its new strategy and brand identity.


The celebration was held under the auspices of Darwish bin Ismaeel al Balushi, Minister Responsible for Financial Affairs, who stressed in statement to reporters that the Bank adopts new credit strategy that focuses on increasing credit activity level to achieve the aims of the bank and add new products that meet the needs of the development plans in the Sultanate.


Abdul Salam bin Nasser al Kharousi, Deputy Chairman of ODB, in his speech said that since establishment, ODB plays a key role in financing added-value projects and maintaining sustainability throughout the past 40 years despite the challenges facing it, especially the Bank focuses on financing SMEs.


Shaikh Dr Abdul Aziz bin Mohammed al Hinaie, ODB CEO, gave a presentation on the new institutional strategy of the Bank 2018-2022 which aims at keeping pace with the approved plans by the government and provide finance for the five prioritised sectors namely tourism, processing industries, mining, transport, logistics and fisheries. The bank also finances four enabling sectors namely education, healthcare, IT and banking services.


Dr Hafsa Hashim , CEO of SEMs in Malaysia, made a presentation on the Malaysian experience in developing SMEs and how they managed to overcome the challenges that faced this sector.


The chief guest launched the Bank’s new identity which aims at opening new horizons from the development finance march in a bid to enhance the government’s five-year development plans that aim at diversifying sources of income and encouraging investors to invest in the various added-value economic, production and service sectors. The Bank also helps in ensuring self-sufficiency in a number of products and commodities, promote entrepreneurship and enrich the Omani market. On the sidelines of the event, an exhibition was organised for 25 production and service projects that benefited from the finance of the Bank. — ONA


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