Muscat, November 05, 2015

In line with the Government's initiatives to boost the Small and Medium Enterprises (SME) sector within the country and as part of its on-going support of the SMEs in the Sultanate, Bank Sohar participated as a sponsor of the ongoing 'SMEs Trade Exhibition' as the only banking representative.  The exhibition focus is to develop the capacity and skills of Omani entrepreneurs by showcasing and promoting their services and products.

The conference and exhibition, which is currently on-going at the International Exhibition Centre in Seeb and will conclude on November 7, has been organized by Public Authority of SME Development (Riyada), Public Authority for Craft Industry, Oman Chamber of Commerce & Industry (OCCI), Al Raffd Fund, in addition to Oman International Exhibition Centre. The exhibition opened on November 3, under the patronage of H.E. Sheikh Abdullah Nasser Abdullah Al Bakri, Minister of Manpower. In a show of support, the opening ceremony was attended by members of the Executive Management from Bank Sohar, including Mr. Rashad Ali Al Musafir, Acting CEO, Mr. Mazin Mahmood Al Raisi, Senior AGM of Marketing and Customer Experience, Mr. Nandakumar R, Senior AGM - SME Corporate, Mr. Talal Al Zedjali, Senior Chief Manager of Micro and Small Enterprises and Mr. Abdullah Hamed Al Mahmoodi, Chief Manager events and Promotion.

Commenting on the Bank's sponsorship and participation, Mr. Rashad Ali Al Musafir said, "This sponsorship comes as part of our continued support and commitment towards the development and growth of the SME sector within the Sultanate. We, at Bank Sohar have always demonstrated our support and engagements towards the initiatives from the Government to support the SME sector due to the importance and positive impact the sector has on the local economy. However, our involvement in the SME sector is more than providing financing, we also offer SME clients guidance and help wherever required, and work together with them to ensure their business is a success. In doing so, each successful SME established contributes towards an improvement of the economy as a whole and the sustainable growth of the sector."

The third edition of the SME Trade Exhibition is seeing participation from 140 small and medium enterprises from across 15 different fields. The main goal of the five-day exhibition is to develop the capacity and skills of Omani entrepreneurs by showcasing and promoting their services and products, while giving them the opportunity to identify new markets. SMEs participating in the expo range from green economy companies, craft industries, medical services, training services, hospitality services and event's organisers, e-services, travel and tourism services, food products, fashion accessories, incense and frankincense, restaurants, cafes, and more. As part of the sponsorship, Bank Sohar has been given three stalls that have been dedicated by the Bank to three entrepreneurs whom have obtained financing from Bank Sohar, to showcase the projects and business they have established as well as sell the products and services they offer. 

Bank Sohar's commitment to the SME sector is clearly evident through the Bank's set up of a dedicated department responsible for providing SMEs with financial services. The exclusive unit has been set up conveniently in Azaiba near the industrial area in Ghala for easy client accessibility and convenience as well as to better facilitate senior level interaction by the Relationship Managers at the clients' locations. The Department plays an essential role in supporting upcoming and newly established businesses in varying fields. In order to further support such companies, the Bank has also implemented a policy that not only facilitates an easy approval system with a high delegation of authority; it also offers attractive interest rates, easy terms and conditions and quick turnaround times.

"We have had numerous success stories so far with our SME financing program with some of our entrepreneurs having even successfully witnessed development and growth in their business and even expanded their operations. Aside from supporting and helping our three valued SME customers showcase their products at the event, the expo, as a whole, also offered us the ideal avenue for networking; providing us with an opportunity to offer our assistance to even more young and upcoming entrepreneurs. I would like to take this opportunity to encourage everyone to attend the exhibition and show their support to this very important sector within the country," added Mr. Rashad Al Musafir.

Ongoing until November 07, the SME expo is open to all attendees at the Oman Exhibition Centre in Seeb from 10am to 10pm daily. Everyone across the Sultanate is welcome to experience a congregation of Omani talent, across different spheres.   

For more information on Bank Sohar, please visit the Bank's official website www.banksohar.net or call 24730000. You can also follow the Bank on Facebook at www.facebook.com/excel.banksohar, on Instagram at www.instagram.com/banksoharexcel or join the conversation on Twitter @banksohar_excel.

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© Press Release 2015