Bank Muscat, the leading financial services provider in the Sultanate of Oman, has been recognized as the Best Bank for Small and Medium Enterprises (SMEs) in Oman at the Global Finance Awards for the World’s Best SMEs Banks 2025. This accolade underscores the Bank’s commitment to fostering the SME sector through a suite of evolving banking services tailored to support entrepreneurship and business growth.
Ibrahim bin Khamis Al Balushi, Senior Assistant General Manager of SMEs at Bank Muscat, expressed his delight at this international recognition, stating, “The Bank is dedicated to crafting strategies that effectively bolster entrepreneurs and SMEs, thereby fortifying the local economy and generating new employment opportunities. We offer a variety of banking services and facilities that are customized to meet the unique needs of these enterprises, enabling them to thrive and make a positive societal impact.”
Al Balushi also added: “The Bank is committed to organizing training programmes and in-person meetings to enhance the financial, administrative, and marketing skills of entrepreneurs and institutional leaders. These initiatives aim to introduce new strategies and methods for business development, ensuring sustained positive outcomes.”
He further emphasized that receiving these international awards serves as a significant motivation to continue the Bank’s leadership in supporting and advancing the small and medium enterprises sector. Al Balushi expressed gratitude to the customers for their trust in the services offered to foster business growth, ensuring that the Bank provides the best possible banking services and facilities to meet both current and future sector needs.
Aligned with its strategic objectives to support SMEs, Bank Muscat has introduced several initiatives, including the Al Wathba Department, reflecting its dedication to sustainable development and enhancing SMEs’ role in economic growth. This department offers a comprehensive range of banking solutions tailored for SMEs, as well as non-banking services like education, training workshops, and networking opportunities for entrepreneurs. Bank Muscat is committed to strengthening partnerships with government and private sectors to elevate the entrepreneurial landscape in Oman, particularly focusing on youth as a pivotal element of the “Oman 2040” vision.
Bank Muscat is actively driving business sector development by supporting Omani youth and providing financing across diverse sectors such as retail, hospitality, industry, tourism, mining, and agriculture. The Bank’s commitment is further exemplified by the launch of the Najahi Business Banking Unit in 2014, a critical platform designed to foster innovation and economic growth by offering comprehensive banking and advisory services to small and emerging enterprises
The Najahi Unit delivers a specialized current account for businesses and offers Customer Relationship Managers, alongside numerous benefits and facilities aimed at enhancing institutional operations. Unsecured financing options are available up to RO 100,000, crafted to empower organizations to seize business opportunities that demand cash flow or improved operational efficiency.
The online corporate banking platform provides SMEs with the ability to conduct transactions in various currencies, manage bill payments, and execute group payments and fund transfers both locally and internationally. It also simplifies employee salary payments under the Wage Protection System. This digital banking platform serves as a smart control center, delivering insightful data to enable timely decision-making. It incorporates cutting-edge technologies with top-tier security features, ensuring ease of access and registration.
