NBO and Oman 70 Holding sign credit term facility agreement

Business Monday 11/December/2023 17:48 PM
By: Times News Service
NBO and Oman 70 Holding sign credit term facility agreement

Muscat: Solidifying a strategic partnership that will drive growth and development in Oman, the National Bank of Oman (NBO) and Oman 70 Holding (Oman 70) has signed a credit term facility agreement.

Speaking on the partnership, Abdullah Al Hinai, CEO of NBO, said: "National Bank of Oman is committed to supporting the development of local enterprises and playing a pivotal role in Oman's economic progress. We are delighted and proud to partner with Oman 70 Holding and provide them with the financial resources they need to excel in their projects. This collaboration underscores our dedication to fostering economic growth and our commitment to being a catalyst for success in the local business arena.”

The credit term facility is designed to enable Oman 70 to continue its investments in various sectors and play a significant role in the economic development of the Sultanate of Oman. NBO's dedication to supporting local businesses and promoting economic growth aligns seamlessly with Oman 70 vision to be at the forefront of diverse industries in Oman.

Mohamed Hamoud Al Sinawi, CEO of Oman 70 Holding, expressed his delight at the collaboration and said: "This Credit Term Facility with the National Bank of Oman is a significant milestone for Oman 70 Holding. It will empower us to execute our strategic plans effectively and achieve our growth objectives. We look forward to leveraging the financial support from NBO to not only enhance our ongoing projects but also to explore new opportunities. We are confident that this partnership will lead to a brighter future for Oman's business sector."

The signing of this Credit Term Facility Agreement underscores the joint dedication of both the National Bank of Oman and Oman 70 Holding to actively contribute to the economic development and diversification goals of Oman.
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