OAB sponsors Musandam Forum for SMEs 

(MENAFN - Muscat Daily) Oman Arab Bank (OAB) has sponsored Musandam Forum for Small and Medium Enterprises (SMEs), which was recently held at Oman Chamber of Commerce and Industry (OCCI's) branch in the wilayat of Khasab under the auspices of H E Sheikh Ali bin Mansour al Busaidy, wali of Khasab.The forum, attended by a number of sheikhs, dignitaries and SME owners, aims at developing an appropriate atmosphere for communication between the SME owners and the governmental and private departments concerned with supporting and financing SMEs in the sultanate.Another objective of the forum was to raise awareness among SME owners in the Governorate of Musandam and to motivate them to develop business, expand their commercial activities and diversify production.In this forum, OAB was represented by Ghulam al Balushi, the Head of SME Banking Services.  Balushi presented a working paper titled, Oman Arab Bank's role in Supporting SMEs'.He spoke on the projects financed by OAB such as Muscat International Airport, the Port of Sohar, the Port of Duqm, the Wave, Blue City, Muscat Golf Course Project, and Port Services Corporation.He also said that OAB has contributed considerably to boost Oman's economic growth and create new job opportunities for national manpower.Balushi introduced forum's participants to the SMEs financed by OAB as well as the government Loan Guarantee' programme and the credit facilities offered to SMEs such as working capital finance, trade finance, contract finance, short term loans and project (equipment) finance.