HSBC Oman signs cooperation agreement with SME Development Fund

HSBC Oman signs cooperation agreement with SME Development Fund

The agreement was signed by Nasr Al Asfoor, Head of Business Banking in HSBC Bank Oman and Salah Al Mawali, CEO of SMEF. Muscat: HSBC Bank Oman and the SME Development Fund (SMEF) signed a collaborative agreement recently to provide small and medium sized enterprises (SMEs) in Oman with OMR5 million in financing. The agreement was signed by Nasr Al Asfoor, Head of Business Banking in HSBC Bank Oman and Salah Al Mawali, CEO of SMEF. This collaboration provides additional support to the SME development initiatives endorsed by the Omani government and will help accelerate the growth of SMEs throughout the Sultanate by giving them access to financing at an attractive rate. "We are proud of our collaboration with SMEF, and we will continue to work closely with relevant government authorities and key working groups to ensure that SMEs flourish and contribute to the country's diversification efforts," said Nasr Al Asfoor, AGM &Head of Business Banking in HSBC Bank Oman. Through its entrepreneurs' development programs and financing schemes, SMEF aims to nurture Omani entrepreneurs and to see some of them grow to be large firms. In so doing, it also targets creating new job opportunities. "We are happy with the