Tuesday 16 / April / 2024
Muscat: Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, launched a digital platform that serves as the gateway for SMEs in the Sultanate at a ceremony held under the auspices of Talal bin Sulaiman Al Rahbi, secretary general of the Supreme Council for Planning.
The ‘Meethaq Accelerate SME’ portal provides start-ups and SMEs (Small and Medium Enterprises) with access to the most comprehensive source of business resources, services and funding solutions. The innovative portal accessible on (http://meethaq.acceleratesme.om) is designed to help SMEs achieve their business goals and thereby promote SME development in Oman.
“Meethaq is proud to launch the ‘Accelerate SME’ portal aimed at linking all important stakeholders involved in the SME sector. The primary objective of the ‘Accelerate SME’ online platform is to provide guidance and help for SMEs to successfully navigate each stage of their business,” said Sulaiman Al Harthy, deputy chief executive officer, Meethaq Islamic Banking.
“Meethaq is an active lender to SMEs in Oman, providing small businesses with access to funding of Sharia-compliant solutions to support development at every stage of the business lifecycle. The ‘Accelerate SME’ portal reflects the bank’s commitment to putting clients first and providing start-ups with the power to positively impact their business,” he added.
Meethaq Islamic Banking has launched various initiatives to support SME development in Oman. Meethaq’s commitment to fostering national talent and providing support for SMEs is aimed at creating meaningful employment opportunities. Meethaq recognises the role of SMEs is highly important and remains committed to working hand-in-hand with the government and partners to creating a favourable environment for SMEs in Oman.
SMEs contribute around 20 per cent of Oman’s GDP and employ 40 per cent of the private sector’s workforce. They are a key contributor to economic growth and a source of job creation in Oman, which has prioritised economic diversification.
To help enable the growth of SMEs, the ‘Accelerate SME’ portal aims to address some of the challenges that SMEs in the Sultanate face, such as uncertainty on how to set up business, access tailored funding solutions to support growth and how to scale business and connect with partners and customers.
The ‘Meethaq Accelerate SME’ portal, developed in association with Thomson Reuters, is free to join. Start-ups, entrepreneurs and business owners can freely access resources, including relevant news, industry insights and intelligence for the Omani market. The portal offers a selection of business tools, templates and advice guides. The portal serves as a curated marketplace of discounted business services tailored for SMEs, funding solutions, including Sharia compliant Islamic banking products from Meethaq and other partners catering to every business stage. The online community hub facilitates a networking opportunity with business owners and entrepreneurs. The facility helps to measure financial health of companies and benchmark against peers with the ‘Trust Rating’ tool.
Nadim Najjar, managing director, MENA Thomson Reuters, said: “We are proud to join hands with Meethaq and launch the ‘Accelerate SME’ portal. We recognise the significant contribution that SMEs and entrepreneurs make to the economies in the region. We want to leverage our capabilities and partnerships with leading organisations to facilitate growth in the SME sector. We are optimistic that the wealth of resources available to SMEs through the platform will stimulate the entrepreneurial ecosystem in Oman.”
