The Oman Chamber of Commerce and Industry (OCCI), in collaboration with the Development Bank, has launched “Alamah,” a new financing product designed to support and grow the commercial franchise sector in the Sultanate. The initiative was unveiled under the patronage of HE Sheikh Faisal bin Abdullah Al Rawas, Chairman of the Board of Directors of OCCI.
A Strategic Push for Entrepreneurship
The “Alamah” product is a direct outcome of an agreement signed during last year’s Omani-Saudi Franchise Exhibition. It aligns with Oman’s national efforts to enhance its entrepreneurial ecosystem and empower small and medium-sized enterprises (SMEs) to enter the franchising industry.
By backing ventures with proven commercial models, the initiative aims to reduce project failure rates, stimulate economic growth, and provide flexible financing tailored to the unique requirements of franchising. This strategic move is also geared towards supporting economic diversification in line with the goals of Oman Vision 2040.
Favorable Financing Terms
Hussein bin Ali Al Lawati, CEO of the Development Bank, outlined the accessible terms of the new product. “Alamah” offers a financing ceiling of up to OMR 100,000 with a competitive financing return rate of 3%. Entrepreneurs will benefit from a repayment period of up to seven years, which includes a generous grace period of up to 12 months.
The program targets aspiring entrepreneurs and SMEs looking to acquire a franchise, existing institutions seeking capital to expand their brand, and Omani citizens looking for sustainable investment opportunities in key development sectors.
Leadership on Fostering a Sustainable Private Sector
HE Sheikh Faisal bin Abdullah Al Rawas, Chairman of OCCI, commented on the launch, stating, “This financing product comes within the framework of the Chamber’s keenness to support the private sector and enhance its role in economic development. By providing quality financing opportunities, we enable entrepreneurs to enter the franchise sector with confidence and sustainability.” He added that the partnership with the Development Bank is a model of integration between national institutions supporting entrepreneurship.
Eng. Hamoud bin Salem Al Saadi, Second Deputy Chairman of OCCI and Chairman of the Franchise Center’s Supervisory Committee, noted that the program is the result of extensive collaboration. “This financing program is the fruit of close cooperation between the Chamber’s Franchise Center and the Development Bank, following a series of meetings and studies prepared by the Center, which confirmed the importance of providing a specialized financing product that meets the needs of the franchise sector in the Sultanate of Oman.”
About Alamah
Alamah is a dedicated financing product launched by the Oman Chamber of Commerce and Industry and the Development Bank to fuel the growth of commercial franchising in Oman. It provides targeted funding for entrepreneurs and SMEs seeking to acquire franchise rights or expand existing operations. The initiative is designed to empower the private sector, create sustainable business opportunities, and contribute to the economic diversification goals outlined in Oman Vision 2040.
Source: Wejhatt
