NBO provides Oman Oil with medium-term financing to empower investment across key sectors

Muscat: Catering to the diverse financial needs of its customers across all segments, the National Bank of Oman (NBO) has signed an agreement with Oman Oil Marketing Company (OOMCO) to provide medium-term financing.

The credit facility will enable the expansion of the OOMCO's investment portfolio across strategic segments in Oman and support the group’s business and investment activities. The signing ceremony took place at NBO’s head office in Al Athaiba and was signed by Abdullah Zahran Al Hinai, Chief Executive Officer of NBO and Tarik Mohammed Al Junaidi, CEO of OOMCO.

Abdullah Zahran Al Hinai, Chief Executive Officer at NBO, said “We remain dedicated to forging partnerships that drive progress, contributing to Oman’s economic growth. The collaboration with OOMCO showcases NBO’s unwavering commitment to delivering exceptional financial services to its customers and supporting the development of the local economy.”

Tarik Mohammed Al Junaidi, CEO at OOMCO, said, “We are pleased to strengthen our relationship with NBO this partnership, which reinforces our commitment to growth and expansion. The medium-term financing provided by NBO will empower us to further strengthen our business and investment across key sectors.”

NBO’s capabilities and expertise in structuring innovative and tailored financing solutions have been instrumental in facilitating this support. The bank’s thorough due diligence and credit assessment techniques ensure the soundness of such deals, further reinforcing NBO’s commitment to supporting businesses across various sectors. The focus remains on making banking more convenient and accessible for all customers.