In a strategic move to reinforce Oman’s entrepreneurial ecosystem, ahlibank has signed a cooperation agreement with the Sultanate’s SME Development Authority, Riyada. The partnership aims to combine public and private sector resources to provide Omani small and medium-sized enterprises (SMEs) with a mix of financial and non-financial support, aligning with the national goals of Oman Vision 2040.
Quick Facts
- Public-private partnership between ahlibank and Riyada.
- Focuses on financial and non-financial support for SMEs.
- Includes training programs and special banking benefits.
A Framework for Growth
The collaboration establishes a formal platform for knowledge sharing between the banking sector and the government authority. Central to the agreement is the creation of an institutional capacity-building framework designed to develop entrepreneurial skills through targeted initiatives.
This program will facilitate the exchange of best practices in financing and banking services, helping to create a more robust support system for emerging businesses across the Sultanate.
Beyond Capital: Training and Banking Perks
The partnership extends beyond financial products, introducing joint training programs aimed at improving the operational and strategic readiness of entrepreneurs. The goal is to prepare SMEs for sustainable growth and expansion.
Additionally, the agreement provides a range of tailored banking benefits specifically for Riyada cardholders. These include incentives and financial solutions designed to meet the unique operational and investment needs of small businesses.
Driving Oman’s Economic Diversification
This initiative is expected to build an integrated ecosystem that combines financial tools with expert knowledge, accelerating the development of Omani SMEs. By enhancing their managerial and financial capacities and connecting them to new market opportunities, the partnership directly contributes to the country’s economic diversification efforts.
The collaboration supports a key objective of Oman Vision 2040: increasing the contribution of SMEs to the national GDP and creating quality job opportunities within an innovation-focused economy.
About ahlibank
ahlibank is a financial institution in Oman offering a wide range of banking services and products to retail, corporate, and investment banking customers. The bank is committed to supporting the national economy and contributing to the Sultanate’s development goals.
About Riyada
Riyada, the SME Development Authority of Oman, is a government body responsible for developing, promoting, and supporting small and medium-sized enterprises in the Sultanate. It works to foster a conducive environment for entrepreneurship and enhance the competitiveness of SMEs.
Source: Zawya
