Bank Nizwa has signed a strategic Memorandum of Understanding (MoU) with the Small and Medium Enterprises Development Authority to bolster small and medium enterprises (SMEs) in Oman.
The partnership underscores the importance of fostering strategic collaborations to support the growth and sustainability of small and medium enterprises in Oman, with a shared goal of building a future-ready SME landscape in the country.
The agreement was signed by Tariq Atiq, Acting Chief Executive Officer of Bank Nizwa, and Her Excellency Halima bint Rashid Al-Zari, Chairperson of the Small and Medium Enterprises Development Authority.
Tariq Atiq Acting CEO – Bank Nizwa
“This program represents a significant step toward strengthening an effective strategic partnership between the two parties, contributing to the empowerment of SMEs and enhancing their role in the national economy. Our collaboration with the Small and Medium Enterprises Development Authority reflects Bank Nizwa’s commitment to supporting entrepreneurs and providing an integrated financing and training environment that aligns with their aspirations and enables sustainable growth. We believe this initiative will open new avenues for knowledge exchange and capacity building, creating tangible added value for this vital sector, in line with the national vision to promote economic diversification in the Sultanate of Oman.”
The agreement outlines a comprehensive framework designed to facilitate knowledge exchange, foster professional development, and provide targeted training programs.
These initiatives aim to strengthen institutional effectiveness and drive improved outcomes for small and medium enterprises (SMEs), ultimately enhancing their growth, competitiveness, and sustainability in the market.
According to the statement, “Central to this is a capacity-building program for SME Development Authority employees, including an exchange initiative offering exposure to credit disciplines such as risk evaluation, financing structuring, and portfolio oversight.”
