Affirming the Bank’s role in supporting small and medium-sized enterprises (SMEs) by providing tailored banking solutions and contributing to their growth, Bank Muscat, the leading financial service provider in the Sultanate of Oman, has been honored as the Best Bank for SMEs 2024 by Euromoney. The Bank places a strong emphasis on supporting the SME sector through the ongoing enhancement of banking services that encourage a conducive environment for entrepreneurship.
On this occasion, Ibrahim Khamis Al Balushi, Senior Assistant General Manager for SME at Bank Muscat, stated: “We are delighted to receive this prestigious award, which recognizes the efforts of Bank Muscat in developing this business sector and supporting the economy. We support Omani youth by financing various projects across industrial, service, and commercial sectors, including retail, hospitality, industry, tourism, mining, and agriculture. These achievements are a testament to the trust our customers place in our services and banking facilities. Surely we will continue to strive to meet the aspirations of our valued customers.”
Bank Muscat launched the Najahi Business Banking Unit in 2014, aiming to assist small, medium, and emerging enterprises by offering customized banking services and facilities that help them grow and succeed. The online corporate banking platform for Najahi customers simplifies transactions in local and foreign currencies, bill payments, group payments, fund transfers, and salary disbursements under the wage protection system. Najahi current account holders can also open fixed deposit accounts, request checkbooks, and block Najahi cards if lost or stolen. The platform serves as a digital control panel, providing intelligent insights for timely decision-making. It features the latest technology with world-class security and is user-friendly.
As part of its strategic plans to support SMEs, Bank Muscat has launched several initiatives, including Al Wathbah Academy. This reflects the Bank’s commitment to sustainable development and enhancing the role of SMEs in economic development in Oman. Al Wathbah offers a full range of banking solutions and non-banking services, such as education, training, workshops, and networking opportunities for entrepreneurs. Bank Muscat continuously strengthens partnerships with government and private sectors to promote entrepreneurship in line with the strategic goals of Oman Vision 2040, with a particular focus on youth.
