The Oman Chamber of Commerce and Industry (OCCI), represented by its Franchise Center, in cooperation with the Development Bank, has launched the “Alama” financing product to support franchising, under the patronage of H.E. Sheikh Faisal bin Abdullah Al Rawas, Chairman of OCCI. The meeting was attended by Eng. Hamoud bin Salem Al Saadi, Second Vice Chairman of OCCI and Chairman of the Supervisory Committee of the Franchise Center; Zakariya bin Abdullah Al Saadi, CEO of OCCI; Hussein bin Ali Al Lawati, CEO of the Development Bank; and members of the committee. The event was held at OCCI’s headquarters in Muscat.

This product is the result of an agreement signed between OCCI, represented by its Franchise Center, and the Development Bank on the sidelines of the Omani–Saudi Franchise Exhibition organized last year by OCCI in partnership with the Federation of Saudi Chambers, to finance entrepreneurs seeking to obtain franchise rights.

The financing product comes within national efforts to enhance entrepreneurship in the Sultanate of Oman and enable small and medium enterprises (SMEs) to enter the franchising sector, which represents a promising opportunity for growth and sustainability by leveraging established brands and proven operating systems. The product aims to stimulate economic growth by enabling entrepreneurs to invest in the franchising sector, reduce project failure rates by supporting ventures built on proven business models, provide flexible financing aligned with franchise requirements, strengthen institutional partnership between the Development Bank and OCCI as key supporters of the private sector, and support economic diversification in line with Oman Vision 2040.

H.E. Sheikh Faisal bin Abdullah Al Rawas, Chairman of OCCI, stated: “This financing product to support franchising comes as part of OCCI’s commitment to supporting the private sector and enhancing its role in economic development by providing quality financing opportunities that enable entrepreneurs to enter the franchising sector with confidence and sustainability.” He noted that the partnership with the Development Bank represents a model of integration between national institutions supporting entrepreneurship and achieving the objectives of Oman Vision 2040.

Eng. Hamoud bin Salem Al Saadi, Second Vice Chairman of OCCI and Chairman of the Supervisory Committee of the Franchise Center, said that this financing program is the result of close cooperation between OCCI’s Franchise Center and the Development Bank, following a series of meetings and studies prepared by the center that confirmed the importance of providing a specialized financing product tailored to the needs of the franchising sector in Oman. He added: “The center’s studies highlighted growing demand from entrepreneurs to invest in this sector, which called for the design of a financing program in cooperation with the Development Bank that aligns with the nature and requirements of franchising and contributes to supporting the expansion of Omani brands locally and internationally.”

Hussein bin Ali Al Lawati, CEO of the Development Bank, said: “The launch of the ‘Alama’ financing product to support franchising comes within the framework of the bank’s commitment to supporting entrepreneurship and enabling SMEs to access promising investment opportunities based on sound principles. This product targets entrepreneurs and SMEs wishing to enter the franchising sector, existing businesses that own brands seeking financing to expand their activities, and Omanis looking for sustainable investment opportunities in development sectors supported by the bank.” He confirmed that the financing ceiling reaches RO 100,000, with a financing return rate of 3%, a repayment period of up to seven years, and a grace period of up to 12 months.

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