Bank Muscat Najahi: A Preferred Solution for MSMEs

Bank Muscat Najahi: A Preferred Solution for MSMEs

MUSCAT: The Micro, Small and Medium-sized Enterprises (MSME) sector plays an important role in economies around the globe, considering its substantial contributions towards creating employment, improving economic diversification and driving GDP growth. The role of MSMEs is a critical one for the economy of the Sultanate of Oman too, and the Government has been continuously taking a series of steps over the past decade to strengthen the position of micro and small business, culminating in the strong emphasis given in the landmark Oman Vision 2040. Continuous Najahi supportWith the objective of developing entrepreneurship in the Sultanate as part of the overall strengthening of the economy, Bank Muscat has been one of the biggest supporters of the MSME sector in the country with the aim of providing the widest range of products and services. It has been continuously striving to meet their unique needs, boost development and enhance the ease of MSME banking through a number of major initiatives, including the setting up of the Najahi (Retail Enterprises) unit in 2014. Over the years, Najahi has been growing from strength to strength in its role of supporting the MSME sector with over 2, 000 small businesses having benefitted from its various