MUSCAT : Alizz Islamic Bank has signed a Memorandum of Understanding (MoU) with the SMEs Development Authority (Riyada) to explore further avenues of collaboration in supporting and empowering small and medium-sized enterprises (SMEs) in the Sultanate of Oman.

The signing ceremony was held under the auspices of H.E. Ahmed Jaafar Al Musalmi, Governor of the Central Bank of Oman in the presence of H.E. Halima Rashid Al Zari, Chairperson of the SMEs Development Authority and brought together several banks and financial institutions, reflecting a unified national effort to strengthen the entrepreneurial ecosystem and promote SME growth.

This partnership aims to foster collaboration between both entities through the development of innovative initiatives and programs that support entrepreneurs, in addition to providing Shari’a-compliant financial solutions and banking services tailored to the needs of SMEs.

Alizz Islamc Bank is committed to supporting entrepreneurship and strengthening the role of SMEs as a key driver of economic growth in Oman. Through this partnership, the Bank aims to deliver specialised financial solutions that enable SMEs to grow sustainably and contribute more effectively to the national economy.