SME development extends beyond financing solutions
Reinforcing its leading role in contributing to the Sultanate’s sustainable development goals, Bank Muscat celebrated the graduation of a new cohort from the specialised entrepreneurial training under the Bank’s “Al Wathba Academy” programme, currently in its 12th edition. The programme forms part of the Bank’s ongoing efforts in social responsibility and its commitment to empowering entrepreneurs and owners of small and medium enterprises (SMEs) by enhancing their capabilities in managing and developing their businesses, thereby contributing to the growth of this vital sector. The graduation ceremony was recently held at the Grand Hormuz Hotel in Airport Heights with the presence of Ahmed Faqir Al Bulushi, Deputy Chief Executive Officer – Banking at Bank Muscat, and Ali Ahmed Muqaibal, Chief Executive Officer of Sharakah, the training provider.
The first cohort of the programme targeted 15 owners of established businesses, who underwent six months of intensive training delivered by a select group of entrepreneurship experts and specialists. The programme was designed within a comprehensive framework aimed at transferring practical knowledge and equipping participants with the strategic decision-making skills required to ensure business sustainability and support future expansion.
Since its launch in November last year, the programme has witnessed strong engagement from participants. It featured a series of specialised training workshops and consultancy sessions focusing on business development, strategic planning, marketing, leadership development, and digital transformation, in line with the evolving requirements of both local and regional markets.
A number of graduates from the first cohort expressed their pride and happiness upon completing the programme. Adil Habib Al Lawati, owner of The Hub Hospitality L.L.C, stated: “Graduating from the programme marked an important milestone in my entrepreneurial journey. The experience provided valuable practical knowledge and specialised expertise that enhanced my perspective on business management and strengthened my ability to address challenges with greater confidence and efficiency. The programme enabled participants to benefit from the experiences of industry experts and fellow entrepreneurs, broadening their strategic thinking and opening new opportunities for growth, expansion, and long-term sustainability. I would like to express my appreciation to Bank Muscat for launching initiatives that reflect its genuine commitment to supporting entrepreneurs and SMEs.” Anwer Ali Al Busaidi, owner of Media Corner, noted that the programme offered a rich and integrated experience that went beyond theoretical learning to include practical applications directly relevant to real business challenges. He said: “The programme helped me acquire effective skills in marketing, planning, and business management, while also enhancing his ability to engage target audiences and develop more impactful and professional marketing strategies. The experience strengthened my confidence in making decisions that support the sustainability and future growth of my business.”
Etab Mohammed Al Zadjali, an Omani entrepreneur, also described graduating from the programme as a significant achievement in her professional journey, emphasizing that the advanced training experience brought a transformative change to the way she manages her business and develops its operational and strategic plans. She noted: “The programme equipped me with practical tools and clearer insights that enabled me to reassess my business model, improve resource management efficiency, and strengthen financial performance, thereby enhancing the project’s readiness for sustainable growth and adapting to changing market dynamics. I sincerely that Bank Muscat for launching impactful initiatives that empower entrepreneurs and support the development of more competitive and sustainable businesses.” For her part, Amira Amur Al Sharji, owner of Jawharat Al Qaryatain Supermarket, highlighted that her participation represents an important step toward strengthening the capabilities of entrepreneurs and enabling them to build more innovative and sustainable businesses. She said: “The programme created a dynamic and interactive environment that encouraged participants to exchange experiences and expand their professional networks with experts and fellow business owners. The programme’s true value lies in its integration of practical training, professional mentorship, and the development of a collaborative entrepreneurial community that supports future partnerships and contributes to strengthening the role of SMEs in the national economy.”
The implementation of this training programme falls as an extension of the efforts undertaken by Bank Muscat through its “Al Wathba Academy”, launched in 2014 with the aim of equipping Omani entrepreneurs with business and financial management skills and empowering them with the practical and professional expertise needed to successfully manage and grow their enterprises. This is achieved through the provision of high-quality training programmes and specialised workshops designed to help entrepreneurs overcome business challenges and drive sustainable growth for their ventures.
To date, the programme has benefited 239 Omani entrepreneurs. The initiative also reflects Bank Muscat’s continued commitment to supporting the entrepreneurial ecosystem in the Sultanate of Oman and strengthening the role of youth in the national economy, in line with Oman Vision 2040 objectives aimed at economic diversification, innovation, and sustainable development.
