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Oman : BANKDHOFAR signs agreement with PUBLIC AUTHORITY for SME development and ODB

July 14, 2014



BankDhofar signed an agreement with the Public Authority for SME Development (Pasmed) and Oman Development Bank (ODB) to promote banking facilities to SMEs.

The SMEs will be considered for financial assistance by the bank which will guarantee them 50% by ODB. This comes within BankDhofar s strategy aimed at encouraging young Omanis to rely on their own and create their business and contribute to the creation of new job opportunities for the Omani youth

The agreement was signed by Hani Habib Macki, AGM of corporate marketing and business banking representing BankDhofar, Hamad al Harthi, acting general manager of ODB, Khalifa bin Said al Abri - acting CEO of Pasmed, giving the commercial banks the right to obtain a governmental guarantee through ODB for a maximum of RO250, 000 provided to loan applicants. Macki, said we at BankDhofar support all entrepreneurs and provide them with the necessary services wherever they are through our network of branches spread across the sultanate. Our commitment will help young Omanis to begin their career and build a bright future for themselves and their families. It will also help to create job opportunities for Omanis in many areas.

The government guarantees are a testament to the efforts to find programmes that aim to promote investment opportunities to encourage individuals to find investment opportunities and minimise the challenges.

The partnership with the Oman government represented by Pasmed to ensure the facilities will contribute to overcoming the main obstacles faced by entrepreneurs.

This joint programme will enable new entrepreneurs to not have enough resources on their own or adequate guarantees to begin implementing their projects and find their way towards success.

The bank will provide the necessary studies for appropriate funding choices. The bank offers its initiatives to entrepreneurs to provide all banking requirements in an easy way.

BankDhofar launched its business debit card to support SMEs and mid-sector companies using electronic banking channels.


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Source: TendersInfo (India)


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