NBC event highlights SME funding options

MUSCAT, DEC 25 – The National Business Centre (NBC), an initiative of the Public Establishment for Industrial Estates (Madayn), organised yesterday (Tuesday) Reyooq event on ‘Financing of Small and Medium Enterprises’ at Basta Majan Café. The event’s speakers comprised representatives of Al Raffd Fund, Oman Development Bank, in addition to a successful Omani entrepreneur. Amira al Zadjali, Acting Director General for Development and Planning of Al Raffd Fund, stated that Al Raffd Fund was launched to support the creation and development of small and medium enterprises and entrepreneurs through the provision of quality financing for varied business needs. Al Zadjali said that the Fund takes into consideration the importance of setting up new ventures to generate new employment opportunities for the nationals.
Said al Fulaiti, Regional Director of Oman Development Bank (ODB) for Muscat Governorate, explained that ODB recognises the significance of SMEs’ contribution to the Sultanate’s development in various fields. He noted that the bank undertakes constant efforts to encourage the SMEs to flourish in the market, as the bank covers funding for several sectors including fisheries, agriculture and livestock, education, healthcare, industries, tourism, information technology, logistics, among others. Abdulaziz al Kalbani, owner of Asrar Al’ared Trading Enterprise, traced the success of his start-up, which is one of the first Omani firms specialising in the production of coal from wood waste.