Date: May 22, 2019
Bank Muscat Najahi and Zubair Small Enterprises Centre (Zubair SEC) are all set to hold a four-day exhibition for small businesses at Nizwa Grand Mall from 23 to 26 May 2019.
The opening ceremony of the exhibition will be held on May 23 under the patronage of H.E. Hamad bin Suleiman Al Gharibi, Undersecretary of Ministry of Regional Municipalities and Water Resources. Fifteen members of Zubair SEC and 15 SME clients of Najahi will be participating in the exhibition.
The upcoming joint exhibition falls under the framework of the memorandum of understanding (MoU) signed between Bank Muscat – Najahi and Zubair SEC in 2016 to collaborate in extending support to Omani entrepreneurs and owners of small businesses.
The exhibition aims at providing small businesses based in Nizwa and neighbouring wilayats in the interior an opportunity to showcase and sell their products and services during the month of Ramadan. It also aims at providing a platform for the participants to promote their products and services through various communication efforts of both the partners.
As a joint collaboration between Bank Muscat Najahi and Zubair SEC, the exhibition has been designed to capitalise on the solid positioning and reputational value of both partners to provide endorsement and support to the participating exhibitors.
Abdullah Al Jufaili, Head, Retail Enterprises, Bank Muscat, said: “We are proud to partner with Zubair SEC to support SMEs in Oman. The main objective of Bank Muscat’s SME support strategy is to empower entrepreneurs to chart successful business ventures. The exhibition aims to embolden SMEs and provide them a platform to showcase their products, build business relationships, offer unique services and engage with the community members who can help grow their business.”
He added, “In view of the business context in Oman, which offers encouraging prospects for the SME sector, Bank Muscat remains dedicated to supporting aspiring entrepreneurs to make a difference across the country.”
Lina Hussein, Head of Communications and Social Impact at Zubair SEC said, “We value the outstanding efforts that Bank Muscat has been extending to further the development of SMEs in the Sultanate. Zubair SEC deems that it is vital to synchronize efforts and collaborate towards extending best support and opportunities for Omani small businesses. We are proud to join hands with Bank Muscat Najahi to hold this significant exhibition.”
She added, “Probably more than anything else, what SMEs really need is access to market and support in promoting and marketing their products and services. There are some remarkable small businesses in the Sultanate in general and the Interior region in specific that have a huge potential to scale up and compete if given proper opportunities; that’s one of the main reasons we are holding this exhibition”.
With an intention to support an Omani SME, Al Sahel Al Sharqi was contracted for the exhibition execution and setup, thus showcasing endorsement and trust by both partners in the SME’s offered services.
The exhibition will be held at Nizwa Grand Mall which is part of the Tilal Development Company SAOC which has a collaboration agreement with Zubair SEC in collectively supporting small businesses. This is the second time Zubair SEC holds such exhibitions in collaboration with Tilal. The first exhibition was at Muscat Grand Mall in early March 2019.
Bank Muscat reaches out to micro and small business customers through exclusive najahi centres across the Sultanate. Securing credit without collateral and accessing innovative banking services have been hurdles faced by micro and small businesses. The specially designed najahi products mainly include credit facilities without collateral to develop and grow micro and small businesses. The najahi suite of products include the value-added najahi Current Account, najahi Flexi Loan to support working capital, business expansion and other business needs; najahi Business Credit Card; and najahi PoS Receivables financing for customers who use PoS machines for sales. All financing options are available to clients ‘collateral free’.
Zubair SEC has gone beyond the traditional notion of SME support and moved towards a holistic ecosystem of services offering business advisory, business development, partnership and affiliations, capacity building, and a grant scheme. Since its inception, Zubair SEC members and budding entrepreneurs have significantly benefited from its services. It has played a crucial role in developing a culture of entrepreneurship in the country. This exhibition is not a first effort in opening market channels for SMEs; Zubair SEC, a social responsibility initiative of The Zubair Corporation has facilitated various business development opportunities for its members in the past. It strongly believes that the support of large organisations to SMEs, mainly through business development and contract opportunities, is of the greatest importance to the development and success of the SME sector.