Muscat: Alizz Islamic Bank partnered with Sharakah, a premier SME development organisation in Oman, through its ‘Alizz Business’ value proposition, to launch an initiative that focuses on the SME’s sustainable Growth.

This programme is designed to empower eight SMEs, with a strong focus on performance and growth. The selected SMEs will be selected across multiple channels which includes not only from the Alizz Islamic Bank but also SME Development Authority (SMEA) and an open registration process for the public. Priority will be given to SMEs that provide significant value to the national economy, particularly in sectors with substantial economic impact.

The initiative is structured around two key pillars including consultancy and capacity building. Over a 12-month period, participating SMEs will receive personalised consultancy services, including a 360-degree business assessment, the development of long-term strategic plans, and life coaching to enhance leadership skills. The capacity-building component will focus on strengthening core business competencies through training sessions on marketing, social media strategies, and effective cash flow management. Industry experts will also provide valuable insights to help SMEs align their operations with current market trends.

This collaboration is expected to deliver measurable results for participating SMEs by improving their strategic direction, enhancing internal capabilities, and expanding their market reach. The initiative will also provide SMEs with tools, policies, and templates that promote sustainable business practices, supporting long-term growth. Ultimately, the programme aims to foster innovation and enhance SME performance, contributing significantly to Oman’s broader economic development.

‘Alizz Business’ is a comprehensive financial service offering from Alizz Islamic Bank, tailored to meet the specific needs of SMEs in Oman. It offers a variety of Shari’a-compliant products, including flexible financing solutions for business expansion, working capital, and diversification, along with attractive savings and investment opportunities. Additionally, ‘Alizz Business’ provides SMEs with access to a cutting-edge internet banking platform, enabling secure and efficient transaction management. Alizz Islamic Bank’s commitment to this initiative highlights its dedication to fostering SME growth, recognising their pivotal role in driving economic progress.

Ali Ahmed Muqaibal, CEO of Sharakah, said, “This collaboration with Alizz Islamic Bank reflects a shared vision of fostering growth and innovation within Oman’s SME sector. By equipping businesses with essential tools and expert guidance, we aim to empower entrepreneurs to achieve long-term success and contribute to the nation’s economic development.”

Ali Al Mani, CEO of Alizz Islamic Bank, commented, “At Alizz Islamic Bank, we believe SMEs are the cornerstone of economic prosperity. Through ‘Alizz Business,’ we are offering financial solutions and continuously addressing the unique challenges the Omani SMEs are frequently facing. Our partnership with Sharakah is a step towards contributing to a sustainable SME ecosystem in Oman.”