Oman Development Bank to conduct seminar on small businesses

Muscat: A three-day seminar on financing and development of Small and Medium Enterprises (SMEs) will start on Monday at Crowne Plaza Muscat Hotel under the auspices of Dr. Ali bin Masoud Al Sunaidy, Minister of Commerce and Industry.
The seminar is being organised by the Oman Development Bank in cooperation with the Association of National Development Finance Institutions (DFIs) in member countries of the Islamic Development Bank (IDB).
The seminar will have working papers and discussion sessions on financing and development of small enterprises. A group of experts in banking institutions and development finance from the Sultanate and the Gulf states, Turkey, Pakistan, Iran and Jordan will participate in the seminar.
The experts will examine the reality of developmental financing for the SMEs and identify the challenges faced.
Over three days, the experts will discuss all the strategies that contribute to the development of the SMEs.
The seminar aims to attract a large number of agencies and experts in the field of development finance and commercial banks, as well as focus on the SMEs’ development in the Sultanate and the region.
The seminar will review the successful experiences of the participating countries in order to take advantage of them.
The Oman Development Bank plays a vital role in supporting the small and medium enterprises in the Sultanate by providing interest-free loans to the sector, in line with the efforts to promote the sector and making possible creation of more job opportunities for citizens.
The bank also offers opportunities for graduates from various academic institutes and technical colleges to develop vocational and craft skills, and also support self-employed people, fishermen, farmers, industry owners, craftsmen, and those running cottage industries.
Significantly, the bank gives special attention and support to innovative projects that use modern technology in line with its focus on encouraging innovation in projects and economic activities that add value to the economy.