MUSCAT: Sharakah has signed a Memorandum of Understanding with Abw Alkhalyl Alrhby Lla’mal SPC to provide Sharia-compliant financing aimed at strengthening the company’s working capital and supporting its expansion in Oman’s growing coffee market.
The Muscat-based enterprise, established in 2017, specialises in the import and wholesale distribution of green coffee beans, serving roasters, wholesale traders and Arabic coffee producers across the Sultanate of Oman, while also re-exporting to overseas markets. The new financing facility will enhance procurement capacity, improve inventory management and ensure supply continuity amidst rising demand within the domestic coffee segment.
Sharakah said the agreement aligns with its mandate to empower small and medium enterprises operating in specialised, high-demand sectors. The company has previously benefited from SME development initiatives supported by Sharakah, including the SME Growth Programme under National Finance’s CSR arm “Imtidad” and the “Tanmo” programme.
Ali Ahmed Muqaibal, Chief Executive Officer of Sharakah, said the facility will strengthen the company’s operational capacity and contribute to the development of the local coffee value chain. Ibrahim bin Mohammed al Rahbi, Owner of Abw Alkhalyl Alrhby Lla’mal SPC, said the financing enhances the firm’s ability to scale operations and respond effectively to increasing market demand.
The partnership underscores Sharakah’s continued focus on deploying Sharia-compliant funding solutions to boost SME sustainability and advance economic diversification objectives in the Sultanate of Oman.
Oman Observer is now on the WhatsApp channel. Click here
