Credit Oman, the national institution specialized in credit insurance, has signed a strategic agreement with Hal Capital, a Sharia-compliant fintech company operating in the Sultanate of Oman and licensed by the Central Bank of Oman.
The agreement was signed by Haitham Abdullah Al Yaqoubi, Acting CEO of Credit Oman, and Aziz Diab, CEO of Hal Capital. It aims to enhance the ability of Small and Medium Enterprises (SMEs) to access financing and achieve sustainable economic growth.
This partnership reflects the shared vision of both entities to strengthen financial services for SMEs, which are a cornerstone of the Omani economy.
As per the agreement, Credit Oman will offer credit insurance coverage for financing extended by Hal Capital to Omani SMEs. This arrangement has been designed to help businesses secure reliable funding, enabling them to trade with greater confidence in local and international markets. The deal also addresses key challenges faced by SMEs, including limited access to financing and insufficient collateral.
Moreover, the collaboration underscores Credit Oman’s continued commitment to enhancing SME access to finance while promoting financial inclusion and economic diversification. By supporting enterprises in navigating financial and economic challenges, the agreement contributes to achieving sustainable development objectives across the Sultanate.
Haitham Abdullah Al Yaqoubi, Acting CEO of Credit Oman, emphasized that the agreement plays a vital role in supporting small and medium-sized enterprises, helping to foster innovation and create new job opportunities that ultimately contribute to advancing the national economy.
Al Yaqoubi added that this partnership falls within the framework of government directives aimed at strengthening the role of the private sector in the Omani economy and increasing its contribution to the Gross Domestic Product (GDP). Credit Oman’s services work to protect business owners in their commercial transactions, while providing support and consultation through insurance solutions that facilitate selling with confidence and security in global markets.
