Credit Oman insured sales reach RO 264.7 million by Q3

MUSCAT: Credit Oman’s insured sales of domestically produced and export goods in the industrial sector reached RO 264.7 million by the end of the third quarter of this year, reflecting a robust 27 per cent increase from RO 208.6 million recorded over the same period last year.
The industrial portfolio supported by Credit Oman spans a wide range of products. Iron and steel accounted for insured sales worth RO 79 million, followed by oils and fats at RO 64.6 million. Food industries, including meat and poultry products, recorded total insured sales of RO 33.1 million, while refined petroleum products amounted to RO 24 million. Cleaning products achieved insured sales valued at RO 17.3 million and plastic construction equipment recorded approximately RO 7.4 million.
Haitham bin Abdullah al Yaqoubi, Acting Chief Executive Officer of Credit Oman, said the institution is focused on raising the volume of Omani non-oil exports through the insurance coverage it provides to local manufacturers, exporters and retailers. He explained that Credit Oman’s role goes beyond insurance to include advisory services and assistance in identifying buyers for Omani exporters.
He added that these efforts are designed to support and strengthen national exports, ease access for Omani products to international markets, broaden the scope of foreign trade and enhance the competitiveness of the Omani economy. He stressed that Credit Oman plays a vital role in building confidence between exporters and importers while reducing the risks associated with cross-border trade transactions. — ONA