OCCI's Finance and Insurance Committee discusses unified insurance policy
The meeting also reviewed the fees and charges imposed by banks on borrowers, stressing the importance of conducting a comprehensive study based on data and statistics from the Central Bank of Oman, particularly as around 80% of companies operating in the Omani market are classified as small and medium enterprises (SMEs). The meeting further examined the fees imposed by commercial banks on SME accounts.
The committee discussed a proposal to hold a joint seminar with the Oman Commercial Arbitration Centre to introduce the centre's services and its role in resolving financial disputes through commercial arbitration. It also reviewed a proposal to organize a dialogue session to discuss financing challenges and personal loans that support the employment of Omanis in SMEs.
Additionally, the meeting considered a proposal for a training initiative for workers in the insurance sector, which would include short and long term programs, as well as a professional diploma in insurance.
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