Muscat: Continuing its efforts to strengthen the pillars of the economic ecosystem, ahlibank announced the signing of a cooperation agreement with the SME Development Authority ‘Riyada’. The agreement is part of a joint program that unites public and private sector efforts to empower entrepreneurs in the SME sector through financial and non-financial solutions that support growth and expansion. This partnership reflects ahlibank’s ongoing commitment to supporting SMEs across various initiatives and products. It also contributes to strengthening the local economic base and enhancing its global competitiveness, in line with the national priorities of Oman Vision 2040.

The partnership establishes a dynamic platform for knowledge and expertise exchange between ahlibank and the SME Development Authority. The outcomes of this initiative are reflected in the launch of an integrated institutional capacity-building framework. It focuses on developing competencies through targeted knowledge-sharing initiatives and strengthening collaboration by exchanging best practices in financing and banking services. The agreement also includes joint training programs aimed at preparing entrepreneurs and enhancing their readiness for growth and expansion. In addition, it offers a range of tailored banking benefits for ‘Riyada’ cardholders, including incentives and financial solutions designed to meet their operational and investment needs.

This partnership is expected to result in the development of an integrated empowerment ecosystem that combines financial solutions with knowledge-based expertise, helping to accelerate the readiness of SMEs for the future. This integration enhances the efficiency and sustainability of their business models by supporting their managerial and financial capacity building, and by connecting them to market opportunities and value chains. This, in turn, positively contributes to their ability to create quality job opportunities and increase their contribution to GDP, within an economic approach focused on innovation and value creation.

ahlibank reaffirms its commitment to continuing the development of high-impact partnerships with both the public and private sectors that contribute to empowering SMEs and enhancing their role in the national economy. This is achieved through the provision of innovative banking solutions and supporting programs that meet their evolving needs. Guided by its strategic vision, the bank continues to expand its contributions to building a more competitive and sustainable business environment. This supports economic diversification efforts and reinforces the position of SMEs as a key partner in the nation’s development journey.