OAB Hosts SME Financial Management Workshop

Muscat, July 18, 2019: Oman Arab Bank (OAB) recently organized its first SME financial management workshop, attracting businesses from diverse industries that bank with OAB. This event was in line with the Bank’s objective to support the development of small local businesses as well as to foster long-lasting partnerships with these companies.

Commenting on the workshop, Al Salt Al Kharusi, the Head of Corporate and Institutional Banking Group said, “Given the importance of the SME sector as a key contributor to trade, employment and economic growth in the Sultanate, it is critical that the sector receives adequate support. This workshop was specifically designed to provide these companies with useful knowledge on how to make the most of their resources. This is a topic that most budding businesses initially struggle with and is particularly important to address at an early stage. In doing so we can ensure these businesses establish a strong foundation for themselves and efficiently leverage every tool at their disposal to guarantee business success.”

This latest workshop held on July 17 at the OAB headquarters in Ghubra saw an attendance of over 20 entrepreneurs and staff from several SMEs operating in the capital. The workshop focused on how to manage business finances and provided the SME’s with a deeper insight into the various financial products and services available to them, both from the Bank as well as from the government and other financial institutions. It also showcased how to best make use of these tools and when. The workshop was conducted by Mohammed Zadjali from the Capital Market Authority and was overseen by the Bank’s SME team.

“As the government continues to act on and develop the country’s economic diversification strategy, SMEs will continue to play a key part in its growth. As one of the oldest banking institutions in the country, OAB has a wealth of knowledge and expertise to offer these budding businesses as they navigate the market and expand their business,”  Jamal Al Wahaibi, Head of the SME Department explained, “Furthermore, as these companies become established, their relationship with the bank will be critical. Built upon a foundation of trust and confidence, this relationship is usually one for the long term. It is for this reason that we continue to host such workshops and events; as this will not only allow us to demonstrate the importance we attach to the growth of SMEs in the country, but will also takes our relationship with these companies to the next level.”

Oman Arab Bank has a rich and proud history as one of the first financial institutions to be established in the Sultanate. Today, the Bank operates a nationwide network of 65 branches and representative offices with 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.