MUSCAT: Development Bank has announced a partnership with Bank Nizwa to launch the Financing Guarantee Scheme, designed to help creditworthy Omani corporates (mainly SMEs) secure bank finance by providing guarantees starting at 50% of eligible finances. Depending on the nature and potential of the project, the guarantee can reach up to 80% on a case-by-case basis.
The initiative is designed to advance Oman’s economic diversification by backing firms that create jobs, raise non-oil exports and deepen in-country value with an initial focus on manufacturing, renewable energy, logistics, tourism, agriculture and fisheries. The agreement was formalised by Khalid al Kayed, Chief Executive Officer of Bank Nizwa and Hussain Ali al Lawati, Chief Executive Officer of Development Bank.
This launch builds on Development Bank’s growing support for local enterprise. In the first half of 2025, the Development Bank approved RO 109.5 million ($283.6 million) across 3,716 loans, up year-on-year in both value and volume with notable momentum in service businesses and tourism-linked projects. Working-capital approvals also increased, reflecting demand from smaller firms across the regions as they invest, hire and expand capacity. That foundation underpins today’s announcement and provides a pipeline for early transactions through Bank Nizwa.
Hussain al Lawati, CEO, Development Bank, said: “This is about confidence — confidence for entrepreneurs to invest, for banks to lend and for Oman to accelerate private-sector growth. By standing behind up to 80% of qualifying corporate Financing Opportunities, we are widening access to finance not only for exporters but for the enterprises that train young Omanis, buy locally and build resilient supply chains. When more Omani SMEs and other corporate can hire, upgrade operations and scale the gains, this will show up in sustainable jobs, stronger non-oil revenues and higher in-country value”.
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