Latest news with #Sharakah
Zawya
a day ago
- Business
- Zawya
Sohar International and Sharakah celebrate graduation of SME Development Program participants
Muscat – Reinforcing its commitment to sustainable empowerment and inclusive growth, Sohar International, in collaboration with Sharakah, concluded the 'Sohar International Women SMEs Development Program' with a graduation ceremony held recently at Crowne Plaza Muscat OCEC. The event was held under the patronage of H.E. Eng. Ahmed Hassan Alawi Al Dheeb, Vice Chairman of the General Authority for Special Economic Zones and Free Zones. Sohar International was represented at the event by Eng. Aisha Al Saifi, Chief Transformation Officer,, Mr. Mazin Mahmood Al Raisi, Chief Marketing Officer and Mr. Abdul Qadir Al Sumali, Chief Retail and Premier Banking Officer of Sohar International. The ceremony marked the culmination of a six-month transformative journey undertaken by ten Omani women entrepreneurs from across the Sultanate. Designed to strengthen core business competencies and unlock future growth opportunities, the program focused on equipping participants with practical skills in financial planning, digital enablement, and strategic marketing. The event commenced with a welcome speech delivered by Mr. Fares Al Harthy, Assistant Manager of SME Development at the Fund for Development of Youth Projects, in which he emphasized the importance of empowering women entrepreneurs in supporting the national economy and promoting economic diversification. This was followed by a speech from the bank delivered by Mr. Mazin Mahmood Al Raisi, Chief Marketing Officer at Sohar International, who highlighted the bank's role in supporting Omani women and enhancing their entrepreneurial capabilities. Participants in the program were then given the opportunity to share their experiences and how they benefited from the initiative. The event concluded with the distribution of graduation certificates to the participants in recognition of their efforts and dedication throughout the program. Highlighting in his speech, Mr. Mazin Mahmood Al Raisi, Chief Marketing Officer of Sohar International, said: 'At Sohar International, we view empowerment as a long-term investment in national progress. This initiative reflects our commitment to shaping a resilient and inclusive economy by equipping Omani women entrepreneurs with the tools to lead, innovate, and grow. By fostering capability and confidence, we are not only supporting individual success but also contributing to Oman's strategic vision for sustainable and diversified economic development. We are proud to be part of a journey that nurtures entrepreneurial potential while aligning with Oman Vision 2040's priorities around human capital development, private sector competitiveness, and inclusive growth. This is not just a program—it is a platform for real, measurable change. And we remain committed to expanding such opportunities across the nation.' Launched in October 2024, the initiative stems from a strategic partnership between Sohar International and Sharakah. Through a structured mix of interactive workshops and one-on-one coaching sessions, participants gained valuable insights into cash flow management, customer engagement, and the use of artificial intelligence to boost business performance. The training was delivered in a peer-driven format, ensuring real-time application of concepts and collaborative learning. Commenting on the milestone, Mr. Ali Ahmed Muqaibal, CEO of Sharakah, said, 'We are proud to collaborate with Sohar International on this transformative program. Participating women have demonstrated incredible commitment, and through this program, we have ensured they are equipped with the tools and knowledge to thrive in the digital economy. This is the beginning of a new chapter for these entrepreneurs.' The program also included business diagnostics and tailored mentoring designed to help participants refine their value propositions and expand their market reach—laying the groundwork for long-term resilience and scalability. As the event drew to a close, the graduates received their certificates of completion—symbolizing not just the end of the program, but the beginning of a new chapter as empowered entrepreneurs capable of driving value in a dynamic business environment. Through initiatives such as these, Sohar International continues to play a strategic role in enabling Omani talent, nurturing innovation, and building capacity across key segments of society—particularly among youth and women. By aligning its efforts with national priorities, the bank contributes meaningfully to shaping a more inclusive, digitally empowered, and entrepreneurially driven economy, reinforcing its position as a catalyst for long-term socio-economic progress. About Sohar International Sohar International is Oman's fastest-growing bank, guided by a clear vision to become a world-leading Omani service company that helps customers, communities, and people prosper and grow. With a purpose to help people 'win' by delivering responsive banking for their ever-changing world, the bank offers innovative solutions across Commercial and Investment Banking, Wealth Management, Islamic Banking, and more. Operating with a strong digital-first approach and an expanding regional footprint—including presence in the Kingdom of Saudi Arabia—Sohar International is committed to driving value through strategic partnerships and a dynamic customer experience. Learn more at
Trade Arabia
24-03-2025
- Business
- Trade Arabia
Sharakah extends financial support to Star Wooden Pallets for expansion
Sharakah, Oman's leading SME development firm, has extended financial support to Star Wooden Pallets Company (SWP) to expand its operations and boost production capabilities. This financing is facilitated through Rawafid, a fintech innovation crowdfunding platform. The financial support agreement was signed by Ahmed Ali Said Al Kathiri, the founder of Star Wooden Pallets Company, and Ali Ahmed Muqaibal, CEO of Sharakah. A spokesperson from Sharakah expressed enthusiasm about this partnership, highlighting how it aligns with their mission to support local businesses and contribute to their long-term strategies. He said: 'This collaboration with SWP represents a significant opportunity to drive innovation, enhance operational efficiency, and support the company's future growth. The spokesperson also noted that Sharakah is proud to back SWP as it transitions to a fully automated production line, which will boost efficiency and help meet the growing demand for high-quality wooden pallets. Through such partnerships, Sharakah aims to provide valuable resources and support to SMEs, empowering them to achieve sustainable growth and success.' Star Wooden Pallets Company, established in 2020, specialises in the manufacture of wooden pallets and operates from its headquarters in Raysut Industrial City (Madyan), Salalah. Despite being a relatively young company, SWP has rapidly scaled its operations due to high local demand, serving major clients. With the new term loan facility, SWP plans to finance part of the purchase of a fully automated pallet production line that incorporates advanced German technology, sourced from a Turkish supplier. An SWP spokesperson described the partnership with Sharakah as a landmark moment in the company's growth journey and said: 'Sharakah's invaluable support opens doors to new opportunities and strategic growth.' This collaboration between Sharakah and Star Wooden Pallets Company reflects Sharakah's ongoing commitment to empowering SMEs in Oman. As Oman continues to focus on diversifying its economy and promoting entrepreneurship, such initiatives play a vital role in shaping a resilient and dynamic business landscape, the company said. – TradeArabia News Service
Arab News
06-02-2025
- Business
- Arab News
Al Rajhi Bank move to digitally empower, finance SMEs
Al Rajhi Bank, a pioneer in innovative banking solutions in Saudi Arabia, has announced a strategic partnership with RATL Technology, the owner of MUHIDE fintech platform, to digitally empower and finance SMEs within a secure, authenticated, and governed ecosystem. MUHIDE platform was launched under the sponsorship of Sharakah, a program of Thiqah. The platform stands as an innovative solution that provides robust operational governance tools to reduce potential commercial and financial disputes between buyers and sellers. MUHIDE platform contributes to ensuring the protection of sellers' payment rights and buyers' delivery rights, while enhancing the efficiency of trade transactions. Additionally, the platform strengthens the credibility of the trade ecosystem in the Saudi market and creates a seamless and trustworthy business environment for SMEs. Through this partnership, Al Rajhi Bank will extend to SMEs a blockchain-enabled solution that allows them to govern trade transactions within a risk-mitigated ecosystem and access payables and receivables financing solutions. Al Rajhi Bank will offer SMEs competitive financing rates due to the visibility and transparency provided by the MUHIDE platform, enabling SMEs to achieve cost savings, boost their cash flow, and enhance their risk mitigation strategies. This integrated solution not only digitizes transactions but also provides SMEs with a unique opportunity to enhance their cash flow sustainably, secure their transactions, and build strong, trust-based relationships with their business partners. Hossam Al-Basrawi, general manager of corporate banking at Al Rajhi, said: "We always strive to empower SMEs by innovating solutions that help in authenticating and governing trade financing within an integrated digital system." Hashim Al-Hussaini, CEO of RATL Technology Ltd., said: 'Trade financing for payables and receivables is fundamental for the growth of SMEs as it enhances cash flow and operational efficiency. "We are proud to partner with Al Rajhi Bank to empower SMEs through a digitally robust trade ecosystem. "Saudi Arabia is at the forefront of digital evolution in the region, and we are committed to contributing to the Kingdom's Vision 2030 and its digital transformation journey, paving the way for attracting more local and foreign investments.'
Saudi Gazette
06-02-2025
- Business
- Saudi Gazette
Al Rajhi Bank announce a strategic partnership with MuhideFinTech Platform to authenticate and govern SMEs' trade finance transactions
Al Rajhi Bank, a pioneer in innovative banking solutions in Saudi Arabia, has announced a strategic partnership with RATL Technology, the owner of Muhide fintech platform, to digitally empower and finance SMEs within a secure, authenticated, and governed ecosystem. MUHIDE platform was launched under the sponsorship of Sharakah, a program of Thiqah. The platform stands as an innovative solution that provides robust operational governancetools to reduce potential commercial and financial disputes between buyers and sellers. MUHIDE platform contributes to ensuring the protection of sellers' payment rights and buyers' delivery rights, while enhancing the efficiency of trade transactions. Additionally, the platform strengthens the credibility of the trade ecosystem in the Saudimarket and creates a seamless and trustworthy business environment for SMEs. Through this partnership, Al Rajhi Bank will extend to SMEs a blockchain-enabled solution that allows them to govern trade transactions within a risk-mitigated ecosystem and access payablesand receivables financing solutions. Al Rajhi Bank will offer SMEs competitive financing rates due to the visibility and transparency provided by the MUHIDE platform, enabling SMEs to achieve cost savings, boost their cash flow, and enhance their risk mitigation strategies. This integrated solution not only digitizes transactions but also provides SMEs with a unique opportunity to enhance their cash flow sustainably, secure their transactions, and build strong, trust-based relationships with their business partners. On this occasion, the General Manager of Corporate Banking at Al Rajhi Bank, Mr. Hossam Al Basrawi, said, 'We always strive to empower SMEs by innovating solutions that help in authenticatingand governing trade financing within an integrated digital system.'" Hashim Al Hussaini, CEO of RATL Technology Ltd., commented, 'Trade financing for payables and receivables is fundamental for the growth of SMEs as it enhances cash flow and operational efficiency. We are proud to partner with Al Rajhi Bank to empower SMEs through a digitally robust trade ecosystem. Saudi Arabia is at the forefront of digital evolution in the region, and we are committed to contributing to the Kingdom's Vision 2030 and its digital transformation journey, paving the way for attracting more local and foreign investments.'
