Oman's finance and leasing sector supports economic diversification under Vision 2040 - Middle East Business News and Information
Muscat, June 2025: Sultanate of Oman financial services industry continues to play a central role in supporting the country's long-term development strategy. A new Growth Perspectives video produced by Oxford Business Group (OBG) in partnership with National Finance Company, the sultanate of Oman leading finance company, explores how the finance and leasing segment is fuelling economic diversification by addressing funding gaps and facilitating investment across key sectors.
The video, titled Sultanate of Oman Finance and Leasing Sector Fuelling Economic Diversification, examines the ways in which financial solutions are enabling businesses to scale up operations, create employment opportunities and contribute to national growth. Particular emphasis is placed on the role of tailored financing mechanisms in supporting small and medium-sized enterprises (SMEs), which are recognised as vital to private sector development.
Under Oman Vision 2040, economic diversification and private sector participation are top priorities. The finance and leasing sector is well positioned to contribute to these objectives through the provision of capital for logistics, construction, manufacturing and other industries. Leasing arrangements for industrial equipment, working capital loans and sale-and-leaseback options are among the solutions highlighted in the video as helping to bridge the financing gap for businesses of all sizes.
The interview features insights from Tariq Sulaiman Al Farsi, Chief Executive Officer of National Finance Company, who outlines the company's approach to facilitating access to finance through inclusive, innovation-driven products and services. He also discusses how the company is aligning its strategy with the broader goals of Oman Vision 2040, including support for emerging sectors such as renewable energy and digital technology.
'Financial inclusion is fundamental to achieving economic diversification,' Al Farsi said. 'At National Finance, we are committed to supporting Sultanate of Oman growth by empowering entrepreneurs, enhancing access to credit and ensuring that our solutions are designed to meet the needs of a rapidly evolving economy.'
Dana Carmen Agarbicean, OBG's Country Director in Sultanate of Oman, noted that the country's finance and leasing sector has become an essential enabler of long-term development.
'Sultanate of Oman progress towards a more diversified economy is underpinned by robust and adaptive financial mechanisms. The sector's contribution to national priorities—particularly the growth of SMEs and strategic industries—reflects its key role in shaping a resilient and competitive business environment,' she said.
This Growth Perspectives video forms part of Oxford Business Group's wider research for The Report: Sultanate of Oman 2025, the Group's forthcoming publication on the country's investment opportunities and economic developments. An in-depth interview with Tariq bin Sulaiman Al Farsi will also appear in the report. To view the video, visit: https://oxfordbusinessgroup.com/videos/sultanate-of-omans-finance-and-leasing-sector-fuelling-economic-diversification-media/
About Oxford Business Group
Oxford Business Group (OBG) is a global research and advisory company with a presence in over 30 countries, spanning Africa, the Middle East, Asia, and the Americas. It is recognised internationally as a distinctive and respected provider of on-the-ground intelligence on world's fastest-growing markets, termed The Yellow Slice, in reference to OBG's corporate colour.
Through its range of products – Economic News and Views; OBG CEO Surveys; OBG Events and Conferences; Global Platform, which hosts exclusive video interviews; and The Report publications – as well as its Advisory division, OBG offers comprehensive and accurate analysis of macroeconomic and sector-level developments for sound investment opportunities and business decisions.
OBG provides business intelligence to its subscribers through multiple platforms, including its direct subscribers, Dow Jones Factiva subscribers, the Bloomberg Professional Services subscribers, Refinitiv's (previously Thomson Reuters) Eikon subscribers, and more.
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Egypt Independent
02-07-2025
- Egypt Independent
FM praises strong ties between Egypt, Oman
Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty has affirmed the depth of cooperation between Egypt and the Sultanate of Oman. This came during a joint press conference held Tuesday, July 1, 2025, with Omani Foreign Sayyid Badr bin Hamad Al Busaidi. Abdelatty welcomed his Omani counterpart and his accompanying delegation, referring to Egypt as their 'second home.' The minister noted that he and his Omani counterpart co-chaired the 16th session of the Egyptian-Omani Joint Committee, which is held at a significant time as bilateral relations are witnessing a major leap forward. Abdelatty said this progress reflects the directives of President Abdel Fattah El Sisi and Sultan Haitham bin Tariq of Oman who have both called for further strengthening of ties across all fields and broadening cooperation horizons in light of the strong bonds between the two leaders and the deep-rooted ties between the Egyptian and Omani peoples. Abdelatty stated that the sessions of the Joint Committee, which were attended by Minister of Labor Mohamed Gebran, witnessed the signing of memorandums of understanding (MoUs) and executive programs in various fields, including investment, mineral wealth, food safety, religious endowments, higher education, scientific research and innovation, media, labor, training, and human capital development. He pointed out that the meetings of the current session reflect the mutual keenness of both Egypt and Oman to build upon the outcomes of the 15th session held in Muscat in 2023, and the momentum created by the important visit of President Abdel Fattah al-Sisi to Muscat in June 2022, which was followed by the visit of Sultan Haitham bin Tariq to Cairo in 2023. These milestones clearly demonstrate the strong political will to deepen the strategic partnership, he reiterated. The minister said he held extensive talks with his Omani counterpart, emphasizing both countries' strong commitment to further advancing bilateral relations. Abdelatty expressed his hope that economic, trade, and investment ties will catch up with the already robust political relations, noting that bilateral trade volume has exceeded $1 billion and emphasizing the strong potential to expand trade cooperation. He further stated that Egypt highly appreciates the work of Omani companies operating in its market and highlighted that there are many Egyptian companies now active in the Omani market to support the goals of Oman Vision 2040 across various priority sectors. Abdelatty stressed the enormous opportunities for economic integration and stronger business links between the two countries, underlining the importance of launching more investment partnerships. He also stressed the vital need to activate the Egypt-Oman Business Council, citing his visit to Muscat in January to attend the Council's meetings. The talks also covered human capital development, particularly the remarkable progress in the technical training and development sector, the minister said, underlining the need to strengthen digital connectivity between Egypt and Oman. Abdelatty said the discussions also touched on the security situation in the region, as well as the high levels of uncertainty and polarization at the international level. The two sides agreed on enhancing consultation and cooperation, he added. He stated that both Egypt and Oman share a common vision focused on de-escalation and finding political peaceful solutions to the crises affecting the region, stressing that there are no military solutions for ongoing conflicts that destabilize the region. Abdelatty reaffirmed that the security of the Sultanate of Oman and the Gulf region is an integral part of Egypt's national security. The two ministers also discussed the Palestinian cause, which they consider the core of the conflict in the region. Both ministers expressed rejection of all displacement plots and condemned the crimes committed daily against the innocent Palestinian people, who simply aspire to live a dignified life on their homeland. Abdelatty reiterated condemnation of the brutal aggression on Gaza and the West Bank, stressing rejection and denunciation of Israel's systematic starvation policy. He briefed his Omani counterpart about the latest developments regarding Egypt's ongoing mediation efforts with Qatar and the United States to swiftly reach a ceasefire agreement that would include the release of hostages and help spare further bloodshed of the Palestinian people. Abdelatty stressed that Israel bears full responsibility for the current situation as the occupying power, emphasizing the critical need for applying unified standards and adhering to the rules of international law and international humanitarian law. Both ministers agreed that no lasting solution in the region can be achieved without recognizing the full and legitimate rights of the Palestinian people, including that of the establishment of a sovereign Palestinian state with East Jerusalem as its capital. The two ministers also expressed their support for the Arab-Islamic plan for early recovery and reconstruction in Gaza. Abdelatty said the date of an international conference for early recovery and reconstruction in Gaza, to be hosted in Egypt, will be announced once a ceasefire agreement is reached. The talks also covered the Iranian nuclear file, with both Egypt and Oman sharing the same stances on the need to back a political and peaceful solution to the issue. Abdelatty lauded Oman's efforts to de-escalate tensions, bring parties back to the negotiating table, and reject military solutions. He reiterated that any settlement should be made within the framework of the principles of the Nuclear Non-Proliferation Treaty (NPT). The minister added that he agreed with his Omani counterpart to have daily contact in order to support and maintain the Iranian-Israeli ceasefire agreement.
Mid East Info
26-06-2025
- Mid East Info
Oman's finance and leasing sector supports economic diversification under Vision 2040 - Middle East Business News and Information
Oxford Business Group's latest Growth and Perspectives video highlights the sector's role in enhancing access to capital and enabling sustainable growth Muscat, June 2025: Sultanate of Oman financial services industry continues to play a central role in supporting the country's long-term development strategy. A new Growth Perspectives video produced by Oxford Business Group (OBG) in partnership with National Finance Company, the sultanate of Oman leading finance company, explores how the finance and leasing segment is fuelling economic diversification by addressing funding gaps and facilitating investment across key sectors. The video, titled Sultanate of Oman Finance and Leasing Sector Fuelling Economic Diversification, examines the ways in which financial solutions are enabling businesses to scale up operations, create employment opportunities and contribute to national growth. Particular emphasis is placed on the role of tailored financing mechanisms in supporting small and medium-sized enterprises (SMEs), which are recognised as vital to private sector development. Under Oman Vision 2040, economic diversification and private sector participation are top priorities. The finance and leasing sector is well positioned to contribute to these objectives through the provision of capital for logistics, construction, manufacturing and other industries. Leasing arrangements for industrial equipment, working capital loans and sale-and-leaseback options are among the solutions highlighted in the video as helping to bridge the financing gap for businesses of all sizes. The interview features insights from Tariq Sulaiman Al Farsi, Chief Executive Officer of National Finance Company, who outlines the company's approach to facilitating access to finance through inclusive, innovation-driven products and services. He also discusses how the company is aligning its strategy with the broader goals of Oman Vision 2040, including support for emerging sectors such as renewable energy and digital technology. 'Financial inclusion is fundamental to achieving economic diversification,' Al Farsi said. 'At National Finance, we are committed to supporting Sultanate of Oman growth by empowering entrepreneurs, enhancing access to credit and ensuring that our solutions are designed to meet the needs of a rapidly evolving economy.' Dana Carmen Agarbicean, OBG's Country Director in Sultanate of Oman, noted that the country's finance and leasing sector has become an essential enabler of long-term development. 'Sultanate of Oman progress towards a more diversified economy is underpinned by robust and adaptive financial mechanisms. The sector's contribution to national priorities—particularly the growth of SMEs and strategic industries—reflects its key role in shaping a resilient and competitive business environment,' she said. This Growth Perspectives video forms part of Oxford Business Group's wider research for The Report: Sultanate of Oman 2025, the Group's forthcoming publication on the country's investment opportunities and economic developments. An in-depth interview with Tariq bin Sulaiman Al Farsi will also appear in the report. To view the video, visit: About Oxford Business Group Oxford Business Group (OBG) is a global research and advisory company with a presence in over 30 countries, spanning Africa, the Middle East, Asia, and the Americas. It is recognised internationally as a distinctive and respected provider of on-the-ground intelligence on world's fastest-growing markets, termed The Yellow Slice, in reference to OBG's corporate colour. Through its range of products – Economic News and Views; OBG CEO Surveys; OBG Events and Conferences; Global Platform, which hosts exclusive video interviews; and The Report publications – as well as its Advisory division, OBG offers comprehensive and accurate analysis of macroeconomic and sector-level developments for sound investment opportunities and business decisions. OBG provides business intelligence to its subscribers through multiple platforms, including its direct subscribers, Dow Jones Factiva subscribers, the Bloomberg Professional Services subscribers, Refinitiv's (previously Thomson Reuters) Eikon subscribers, and more.
Mid East Info
22-06-2025
- Mid East Info
OAB Wraps Up SME Training Roadshow in Nizwa, Reaffirms Commitment to Nationwide SME Growth - Middle East Business News and Information
Muscat. 22 June, 2025. Oman Arab Bank (OAB) has successfully concluded the third leg of its SME Development Training Roadshow, held in Nizwa from 17 to 18 June, 2025. Organized in collaboration with SME Development Authority and Oman Chamber of Commerce and Industry in Nizwa, under the Bank's flagship Tumouhi initiative, the event drew wide participation from aspiring entrepreneurs and small business owners in Al Dakhiliyah, continuing a nationwide mission to support and empower Oman's growing SME sector. The event was held under the auspices of H.E Sheikh Dr. Faisal bin Ali bin Rashid Al Zidi (Wali of Manah). Following successful workshops in Muscat and Sohar earlier this year, the Nizwa event brought together a dynamic mix of sessions covering financial literacy, business strategy, marketing, and HR fundamentals. Designed to offer hands-on learning and real-world insights, the two-day workshop also served as a vibrant networking hub for local entrepreneurs and industry experts. H.E Sheikh Dr. Faisal Al Zidi expressed his enthusiasm towards this initiative in supporting the SME sector, praising the government's steadfast approach and the great attention it pays to this vital sector, given its pivotal role in supporting the growth of the economy and enhancing its diversity. He emphasized that supporting entrepreneurs and emerging business owners contributes to creating new job opportunities and enhancing local innovation. H.E Sheikh Dr Faisal Al Zidi stated, 'This workshop is a true turning point for entrepreneurs. They would walk in with ideas, and leave with a plan, equipped with the confidence to take their businesses to the next level. The sessions were practical, relevant, and exactly what small business owners and entrepreneurs would need.' Sulaiman Al Hinai, Chief Wholesale Banking Officer at Oman Arab Bank, commented on the roadshow's continued momentum, 'At Oman Arab Bank, we view SMEs as key drivers of economic resilience and innovation. Through Tumouhi, we're not just delivering training — we're creating access, building networks, and empowering business owners in every corner of the Sultanate. The response in Nizwa has been incredibly encouraging, and we remain committed to reaching even more regions with the tools and support SMEs need to thrive.' The Tumouhi Roadshow is part of OAB's long-term strategy to promote financial inclusion, empower local talent, and align with the goals of Oman Vision 2040. By providing practical tools and strategic guidance, OAB aims to equip SMEs with the foundations to grow, innovate, and contribute meaningfully to the national economy. The Bank has confirmed that future roadshows are in the pipeline, with a commitment to covering all regions across the Sultanate in the months ahead.
