MUSCAT : Bank Muscat, the leading financial services provider in the Sultanate of Oman, has been awarded the Best Bank in Oman for (SMEs) title for 2025 at the prestigious MEED MENA Banking Excellence Awards. This recognition highlights the Bank’s ongoing efforts to foster entrepreneurship and its substantial role in the development and growth of SMEs through offering a wide range of banking services and solutions tailored to meet their evolving financial needs and business goals.

Commenting on this achievement, Ibrahim Khamis Al Balushi, Senior Assistant General Manager, SMEs at Bank Muscat, said: “We take pride in being recognised as the best bank in Oman for SMEs award, a testament to the Bank’s commitment to strategic initiatives that actively support entrepreneurs and SMEs. These efforts contribute to strengthening the national economy. Bank Muscat offers a variety of banking services and facilities specifically designed to empower these enterprises to expand and succeed in their businesses. Bank Muscat continually launches initiatives aimed at guiding SMEs on how to develop and scale their businesses effectively, and organizes dedicated training programmes to build the financial, administrative, and marketing capabilities of entrepreneurs and SME owners. This recognition serves as a strong motivator for the Bank to continue playing its pioneering role in supporting and developing the SMEs sector, offering top-tier financial solutions that meet both current and future needs. We would like to extend our gratitude to the Bank’s customers for their trust and confidence in the services offered to them.”

Bank Muscat’s “Al Wathbah”Programme for SMEs plays a key role in supporting the SMEs by offering an integrated suite of banking solutions tailored to the unique needs of SMEs customers. In addition to financial services, the division provides training opportunities, access to workshops, and networking events for entrepreneurs. The Bank remains steadfast in its collaboration with public and private sector entities to support business growth and SMEs development, particularly focusing on empowering youth and promoting a culture of innovation and sustainability in alignment with Oman Vision 2040.

Bank Muscat’s commitment to SMEs development is evident in the wide range of financing services it provides across various sectors, including industry, retail, and hospitality. The Bank also prioritizes micro-enterprises and reinforces its support to these businesses through its “Najahi” Business Banking Unit launched in 2014. The Bank’s support to the MSMEs underscores its commitment to understanding the needs of this sector and its vital role in driving economic development. The “Najahi” Unit offers unsecured financing options of up to 100,000 OMR, crafted to empower organizations to seize business opportunities that demand cash flow or improved operational efficiency. Customers are also offered other banking solutions such as a specialized current account and debit cards for businesses.

The Bank also actively launches initiatives aimed at developing the businesses of Omani entrepreneurs. Amongst these initiatives is the “Al Wathba” Academy, which aims to qualify and train the Omani entrepreneurs in the fields of business administration and finance, honing their skills to perform their businesses in a practical and professional manner. The Bank is also keen to hold events and activities with the aim of providing a marketing platform for business owners and small businesses. In this context, the Bank launches the annual “Al Wathbah Souq” in the Holy month of Ramadan. This event offers a platform for entrepreneurs and home-based business owners to showcase their products, reach new customers, and explore marketing opportunities. It also fosters collaboration and knowledge sharing among participants. The market features a variety of locally made products. The annual organization of the “Al Wathbah Souq” underscores Bank Muscat’s commitment to the development of this vital sector as a key pillar of Oman’s national economy.