Muscat: Sharakah, Oman’s leading SME development company, has recently signed a Memorandum of Understanding (MoU) with Ocean of Majan International Commercial Services LLC, the company behind the Bagpak brand of industrial packaging solutions.

The partnership reflects Sharakah’s continued commitment to supporting Omani SMEs operating in key industrial sectors. Through this agreement, Ocean of Majan International Commercial Services has secured a Shariah-compliant financing facility from Sharakah to strengthen its working capital and support the expansion of its manufacturing and supply operations.

Bagpak, established in October 2022, specialises in the production and supply of polypropylene (PP) packaging solutions designed for industrial use. Its product range includes PP woven bags, FIBC jumbo bags, and cement bags, which are widely used across several major sectors in Oman. The company supplies packaging solutions tailored to the operational needs of industries such as cement manufacturing, sugar processing, petrochemicals, food production, mining, and logistics.

Commenting on the partnership, Ali Ahmed Muqaibal, Chief Executive Officer of Sharakah, said, “Supporting SMEs that strengthen Oman’s industrial ecosystem remains a key priority for Sharakah. Our collaboration with Ocean of Majan International Commercial Services enables a growing local manufacturer to expand its capabilities and deliver reliable packaging solutions to multiple industries that are essential to the country’s economic development.”

On his part, Mr. Falah Ali Al Kaabi, representative of Ocean of Majan International Commercial Services LLC added, “Sharakah’s financial support comes at an important stage in our growth journey. The working capital facility enhances our ability to manage production cycles, maintain consistent supply, and respond effectively to the increasing demand for durable industrial packaging solutions in Oman.”

About Sharakah

Sharakah, among Oman’s first SME development initiatives has been fostering the entrepreneurial spirit since 1998 when it was incorporated by Royal Decree No. (76/98). Since its inception, Sharakah has provided support to a substantial number of projects in different sectors through awareness, training programs, financial support, consultation services and more. Playing a strategic role in the SMEs ecosystem in the Sultanate and making a positive impact is Sharakah’s vision, and its strategies revolve around the objectives of benefitting the Omani SME sector.

Contact

Mohammed Al Farsi
Marketing Specialist
Email: info@sharakah.om