The Small and Medium Enterprises (SME) sector has witnessed increasing attention worldwide due to the essential role they play in supporting economies and their integral part in sustainable development plans. Understanding this significance, the Bank strives to strengthen its support for the sector starting from the inauguration of Najahi Business Banking unit in 2014. Celebrating Najahi’s 10th Year Anniversary, Bank Muscat, the leading financial services provider in the Sultanate, organised a special event attended by a number of Najahi customers. This occasion is an opportunity to reinforce the tangible role that such endeavour focusses on, as well as a stepping stone towards realising future prospects.
On this occasion, Saleh Mohammed Al Maaini, Deputy General Manager – Capital Regions, Bank Muscat, said: “Najahi Business Banking Unit has made significant contributions to assisting entrepreneurs and small businesses thereby strengthening the local economy and creating new employment opportunities. This specialised unit has been developed to support this sector by providing banking products and facilities tailored to the needs of small businesses and assisting them in achieving growth and progress, thus contributing to making a positive impact on society. Najahi serves as a platform to foster innovation and promote economic progress by offering a variety of banking and advisory services for small businesses. I would like to take this occasion to express my appreciation to Najahi customers for their support and confidence in our services. The Bank will continue its efforts to always deliver the best possible services to its valued customers.”
A number of Najahi customers commended the services and facilities the unit offers and its achievements over the past 10 years. Maryam Al Shabibi, Founder of Green Umbrella Recruitment, said: “The beginning for me was challenging. I started officially in 2014 and joined Najahi from Bank Muscat in 2017. I consider Najahi to be my family as they were present along my journey and any time I needed financial support or an advice they were ready to help. Offering collateral-free loans was of immense help and I managed to grow step by step from a small to a medium business.”
About his experience with Najahi, Amjad Ali Al Fairoz, Founder of 4Wheel Hero’s, said: “A friend introduced me to Najahi, and when I started with them, Najahi helped me get past the challenges I was facing. I received the support I needed to expand my business through Najahi. I am proud to say that in one year, we managed to open two branches in Oman and we are looking forward to open other branches across the different governorates in the future.”
Najahi has a customer base of more than 75,000 businesses operating in trading, services, manufacturing and processing, construction, hospitality, travel and tourism, mining and agriculture sectors. Part of the unique product offering from Najahi is the value-added Najahi Current Account that comes with a Business Debit Card. Additionally, Najahi also offers collateral-free loans, with maximum facility amount up to RO 100,000. These options are designed to keep cash flow moving, seize business opportunities that require raising cash or enhance efficient operations. Relationship Managers are available at all times to guide entrepreneurs in availing the different facilities.
Bank Muscat’s Internet Banking services provide a fast, convenient and secure banking experience for SMEs to manage their finances 24×7. The Online Banking platform can be used by Najahi customers for fund transfers to local or foreign accounts, bill payments and bulk payments to vendors. It also facilitates salary payments for employees under the Wages Protection System (WPS). Najahi Current Account holders can also open FD accounts and request for cheque books. They can block their Najahi Card in case it is lost or stolen. Security is ensured by a physical token and a secure mailbox. It must be noted that the bank’s online banking platform features the latest technologies and world-class security features.
The unit also offers Najahi Credit Card with a sanctioned limit when customers avail a Najahi Flexi loan. They can enjoy exclusive benefits, while being confident of being able to keep their business going, including 0.5% cashback on all purchases and interest-free repayment period.
Entrepreneurs can visit their nearest Bank Muscat branch, call 24790000 or visit https://www.bankmuscat.com/en/Business/Business_segements/Pages/Najahi-Home-Page.aspx for more information regarding Najahi products and services.
