Muscat: CEO Sheikh Khalil bin Ahmed Al Harithi attributed this remarkable growth to the company’s relentless efforts in serving manufacturers and exporters. This resulted in a surge in total insurance premiums to RO 1 million, 168 thousand, and 68, a 17% increase from 2022.

One of the standout achievements for Credit Oman was its profit, which soared by 20% to RO 719,185 in 2023. Al Harithi highlighted the company’s self-reliance on all resources and its strategic allocation of funds to debt instruments and company shares, with ownership value reaching RO 17.4 million.

Moreover, Credit Oman expanded its support to policyholders by granting higher credit ceilings for local sales and exports, amounting to about RO 221 million and 896 thousand in 2023, a notable increase from the previous year.

The company’s innovative insurance services span across various sectors, including petrochemicals and plastics, mining, building materials, and more. Noteworthy growth rates were observed in sectors like petrochemicals and plastics (90% increase) and mining (110% increase), showcasing Credit Oman’s commitment to facilitating Omani exports and local sales.