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Mid East Info
4 days ago
- Business
- Mid East Info
Oman Arab Bank Leads the Economic Empowerment Landscape in the Sultanate of Oman and is Crowned with the 'Outstanding Commitment to SME Growth and Empowerment' Award
Muscat. 2 June 2025. In a remarkable achievement that set the standard for banking expertise in the Sultanate of Oman, Oman Arab Bank's added to its growing record of success, proudly announcing it being the receipt of the 'Outstanding Commitment to SME Growth and Empowerment' award — a well-deserved recognition of a deeply rooted strategic vision and clear affirmation of the bank's pivotal role in leading the economic empowerment of entrepreneurs across the Sultanate. This award is not merely a celebratory milestone, but the natural result of an integrated journey of tireless effort, carefully structured plans, and a real investment in Oman's economic future. It reflects years of consistent dedication, culminating in the development of the bank's comprehensive Tumouhi ecosystem — the most inclusive banking platform designed to support SMEs on every level: financial, technical, digital, and advisory. Oman Arab Bank has transformed from a financial service provider into an active growth partner in the success stories of thousands of local companies by offering flexible, customizable financial solutions, including term loans, working capital financing, and a full range of trade facilities tailored to different stages of business development; however, the bank's role has never been limited to financing — it has built a fully integrated digital infrastructure aligned with global standards, including smart payment solutions such as Soft POS, payment links, full digital banking platforms, and dedicated corporate branches and regional cash centers. Even more, the bank has redefined SME support through structured training and empowerment programs like Ruwad Al Arabi , Women's Leadership Development , and Financial Literacy , as well as through strategic partnerships with national institutions like the SME Development Authority (Riyada) to organize entrepreneurial competitions and target ed empowerment campaigns across Oman's governorates. Recognizing that many freelance and informal businesses are often overlooked by traditional banking, Oman Arab Bank designed dedicated solutions that accommodate the unique needs of this segment — from street vendors and market traders to taxi drivers and independent service providers — thus driving tangible financial inclusion at the grassroots level. This ground-level presence has helped the bank expand its developmental footprint and reach underserved populations in a practical and meaningful way. Commenting on this achievement, Sulaiman Al Hinai, Chief Wholesale Banking Officer at Oman Arab Bank, stated: 'This award is a confirmation of what we have committed to from day one — to be a creator of opportunity, not just a responder; a builder of business ecosystems, not just a lender. We believe SMEs are not a complementary sector, but the economic center of gravity and the axis of national transformation toward sustainable growth.' He added, 'We don't just offer banking products — we provide a fully integrated environment of support, guidance, expertise, and networks to help every entrepreneur turn ideas into impact.' With this recognition, Oman Arab Bank once again proves that it is more than a bank — it is a vital developmental force helping reshape Oman's economic landscape and placing SMEs at the heart of the national equation. This aligns directly with Oman Vision 2040's priorities of economic diversification, productivity, youth empowerment, and building a knowledge- and innovation-driven economy. The Bank stands firmly present across every step of the SME journey — from funding to advisory, training to partnership, and digital solutions to on-the-ground support — forging ahead with an unwavering commitment to solidify its position as the number one partner for entrepreneurship in Oman, driven by a national vision, relentless ambition, and limitless potential.
Mid East Info
10-04-2025
- Business
- Mid East Info
OAB Showcases Its Initiatives to Support Entrepreneurs at Chamber Meeting - Middle East Business News and Information
Muscat: As part of its ongoing support for the small and medium enterprises (SMEs) sector, Oman Arab Bank (OAB) participated in a meeting of the SMEs Committee at the Oman Chamber of Commerce and Industry. The discussion focused on enhancing collaboration and developing banking solutions to support entrepreneurs and business owners. OAB's team presented its innovative initiatives for SME growth, including the 'Tumouhi' program, which provides comprehensive financial services and credit facilities. The program is supported by an integrated digital platform accessible via online and mobile banking—the first of its kind in Oman—designed to meet the evolving needs of entrepreneurs. Additionally, the bank offers electronic payment solutions, including point-of-sale systems and mobile payments. OAB also runs a nationwide training program, featuring workshops on financial literacy and financial planning skills. Commenting on the meeting, Sulaiman Al Harthi, CEO of OAB, stated: 'We are pleased to have been invited to this meeting by the SMEs Committee of the Oman Chamber of Commerce and Industry. Our participation reaffirms our commitment to supporting this vital sector and contributing to sustainable development in Oman. We are confident that OAB's programs and initiatives will continue to foster a thriving business environment, supporting the private sector and entrepreneurs while paving the way for their growth, expansion, and success.' He added: 'OAB's financial services and financing products are in high demand among SME owners, reflecting notable growth in our SME financing portfolio. The bank places great emphasis on understanding business needs, continuously innovating to provide tailored financial solutions for all customer segments. SMEs now represent a significant part of our client base—an achievement we take pride in. Through this, OAB remains committed to excellence in Oman's banking sector and plays a pivotal role in supporting the private sector while advancing Oman's Vision 2040 to empower SMEs as engines of economic growth, development partners, and sustainable sources of employment.' OAB continues to develop innovative initiatives for SMEs, including the recent launch of a dedicated digital financial solutions platform for entrepreneurs. Additionally, 'Tumouhi' program has evolved into one of Oman's leading SME support initiatives, offering a comprehensive platform for financial services, training, and exclusive benefits. The program's workshops focus on corporate governance, compliance, and strategies to navigate business challenges, ensuring the long-term sustainability of SMEs. 'At OAB, we recognize the vast potential and ambitions of entrepreneurs and their invaluable contributions to Oman's economy. We are committed to providing all necessary support to strengthen this role and expand our partnerships in line with Oman Vision 2040's objectives of diversification and sustainability,' Al Harthi added. Sheikh Rashid Al Maslahi, First Deputy Chairman of the Oman Chamber of Commerce and Industry, emphasized the importance of this sector, which the Oman Chamber of Commerce and Industry pays special attention to due to its vital role in sustainable development. He also commended the tangible role played by OAB in developing the SME sector through its financial programs and initiatives that facilitate business growth. He emphasized that the banking sector remains the primary source of funding for development projects. Al Maslahi stated: 'OAB's innovative and high-impact initiatives have played a crucial role in supporting entrepreneurship in Oman, empowering SMEs to launch and expand their businesses. The bank's 'Tumouhi' program, in particular, has become a benchmark for SME growth, offering financial solutions, an integrated digital platform, and training programs for entrepreneurs across all governorates.' Hosting OAB aligns with the Chamber's initiative to expand partnerships with the banking sector and showcase successful financing models for SMEs, a key driver of economic growth that represents the majority of private-sector businesses in Oman.
Zawya
10-04-2025
- Business
- Zawya
OAB showcases its initiatives to support entrepreneurs at chamber meeting
Muscat: As part of its ongoing support for the small and medium enterprises (SMEs) sector, Oman Arab Bank (OAB) participated in a meeting of the SMEs Committee at the Oman Chamber of Commerce and Industry. The discussion focused on enhancing collaboration and developing banking solutions to support entrepreneurs and business owners. OAB's team presented its innovative initiatives for SME growth, including the 'Tumouhi' program, which provides comprehensive financial services and credit facilities. The program is supported by an integrated digital platform accessible via online and mobile banking the first of its kind in Oman designed to meet the evolving needs of entrepreneurs. Additionally, the bank offers electronic payment solutions, including point-of-sale systems and mobile payments. OAB also runs a nationwide training program, featuring workshops on financial literacy and financial planning skills. Commenting on the meeting, Sulaiman Al Harthi, CEO of OAB, stated: "We are pleased to have been invited to this meeting by the SMEs Committee of the Oman Chamber of Commerce and Industry. Our participation reaffirms our commitment to supporting this vital sector and contributing to sustainable development in Oman. We are confident that OAB's programs and initiatives will continue to foster a thriving business environment, supporting the private sector and entrepreneurs while paving the way for their growth, expansion, and success." He added: "OAB's financial services and financing products are in high demand among SME owners, reflecting notable growth in our SME financing portfolio. The bank places great emphasis on understanding business needs, continuously innovating to provide tailored financial solutions for all customer segments. SMEs now represent a significant part of our client base—an achievement we take pride in. Through this, OAB remains committed to excellence in Oman's banking sector and plays a pivotal role in supporting the private sector while advancing Oman's Vision 2040 to empower SMEs as engines of economic growth, development partners, and sustainable sources of employment." OAB continues to develop innovative initiatives for SMEs, including the recent launch of a dedicated digital financial solutions platform for entrepreneurs. Additionally, "Tumouhi" program has evolved into one of Oman's leading SME support initiatives, offering a comprehensive platform for financial services, training, and exclusive benefits. The program's workshops focus on corporate governance, compliance, and strategies to navigate business challenges, ensuring the long-term sustainability of SMEs. "At OAB, we recognize the vast potential and ambitions of entrepreneurs and their invaluable contributions to Oman's economy. We are committed to providing all necessary support to strengthen this role and expand our partnerships in line with Oman Vision 2040's objectives of diversification and sustainability," Al Harthi added. Sheikh Rashid Al Maslahi, First Deputy Chairman of the Oman Chamber of Commerce and Industry, emphasized the importance of this sector, which the Oman Chamber of Commerce and Industry pays special attention to due to its vital role in sustainable development. He also commended the tangible role played by OAB in developing the SME sector through its financial programs and initiatives that facilitate business growth. He emphasized that the banking sector remains the primary source of funding for development projects. Al Maslahi stated: "OAB's innovative and high-impact initiatives have played a crucial role in supporting entrepreneurship in Oman, empowering SMEs to launch and expand their businesses. The bank's 'Tumouhi' program, in particular, has become a benchmark for SME growth, offering financial solutions, an integrated digital platform, and training programs for entrepreneurs across all governorates." Hosting OAB aligns with the Chamber's initiative to expand partnerships with the banking sector and showcase successful financing models for SMEs, a key driver of economic growth that represents the majority of private-sector businesses in Oman.
Mid East Info
25-03-2025
- Business
- Mid East Info
A Distinguished Marketing Outlet for Promoting National Products - Middle East Business News and Information
OAB Organizes Eid Exhibition to Support SMEs Muscat: As part of its ongoing initiatives and innovative programs to support and develop small and medium enterprises (SMEs), Oman Arab Bank (OAB) organized the Eid Exhibition, serving as a distinguished promotional platform for entrepreneurs, supporting national products, and enhancing their presence in local markets. Held at the bank's headquarters in Al Ghubrah, the exhibition attracted a large number of visitors and shoppers. It featured a wide range of unique products catering to all family members, along with exceptional collections that added a touch of elegance to Eid Al-Fitr celebrations. Sulaiman Al Harthi, CEO of OAB, stated: 'Supporting SMEs is one of our top priorities at OAB, and we are committed to providing them with the necessary support to ensure their success. We take pride in the high-quality products and exceptional collections showcased at the Eid Exhibition, produced by the participating SMEs. 'Over the years, the bank has consistently organized this exhibition during festive seasons as part of our broader initiatives to provide comprehensive support to SMEs. This includes offering competitive and affordable financing solutions to encourage entrepreneurship and support business expansion and growth. Additionally, we provide an advanced digital financial solutions platform tailored for entrepreneurs, along with a comprehensive package of support and services through the 'Tumouhi' program. This program continues to play a pivotal role in driving the expansion and growth of the entrepreneurial sector in Oman while contributing to the nation's future vision by empowering youth and entrepreneurs to drive economic growth and diversification.' Al Harthi added: 'The Eid Exhibition is a unique opportunity eagerly awaited by entrepreneurs and business owners to promote their products and achieve high sales during peak shopping seasons. It also provides families with a convenient way to shop for their needs, offering exclusive and distinguished products. The exhibition witnessed a large turnout of visitors who enjoyed the festive atmosphere, accompanying events, and the opportunity to purchase unique gifts and essentials while exploring the latest fashion trends that cater to all tastes.' The CEO also praised the efforts of OAB's employees and their innovative initiatives, both in organizing and promoting the exhibition within the community, contributing to its growing success year after year.
Zawya
25-03-2025
- Business
- Zawya
OAB organizes Eid Exhibition to support SMEs
Muscat: As part of its ongoing initiatives and innovative programs to support and develop small and medium enterprises (SMEs), Oman Arab Bank (OAB) organized the Eid Exhibition, serving as a distinguished promotional platform for entrepreneurs, supporting national products, and enhancing their presence in local markets. Held at the bank's headquarters in Al Ghubrah, the exhibition attracted a large number of visitors and shoppers. It featured a wide range of unique products catering to all family members, along with exceptional collections that added a touch of elegance to Eid Al-Fitr celebrations. Sulaiman Al Harthi, CEO of OAB, stated: "Supporting SMEs is one of our top priorities at OAB, and we are committed to providing them with the necessary support to ensure their success. We take pride in the high-quality products and exceptional collections showcased at the Eid Exhibition, produced by the participating SMEs. "Over the years, the bank has consistently organized this exhibition during festive seasons as part of our broader initiatives to provide comprehensive support to SMEs. This includes offering competitive and affordable financing solutions to encourage entrepreneurship and support business expansion and growth. Additionally, we provide an advanced digital financial solutions platform tailored for entrepreneurs, along with a comprehensive package of support and services through the 'Tumouhi' program. This program continues to play a pivotal role in driving the expansion and growth of the entrepreneurial sector in Oman while contributing to the nation's future vision by empowering youth and entrepreneurs to drive economic growth and diversification." Al Harthi added: "The Eid Exhibition is a unique opportunity eagerly awaited by entrepreneurs and business owners to promote their products and achieve high sales during peak shopping seasons. It also provides families with a convenient way to shop for their needs, offering exclusive and distinguished products. The exhibition witnessed a large turnout of visitors who enjoyed the festive atmosphere, accompanying events, and the opportunity to purchase unique gifts and essentials while exploring the latest fashion trends that cater to all tastes." The CEO also praised the efforts of OAB's employees and their innovative initiatives, both in organizing and promoting the exhibition within the community, contributing to its growing success year after year.
