MUSCAT: National Bank of Oman’s work to support and develop the strategically important SME sector has been recognised by the Public Authority for Small and Medium Enterprises Development (Riyada).

During a specially convened ceremony, Khalifa al Abri, acting CEO of Riyada, awarded the bank an Appreciation Certificate in recognition of the outstanding service that it renders to the Public Authority for Small and Medium Enterprises Development and SMEs.

Ahmed al Musalmi, CEO of National Bank of Oman, said, “National Bank of Oman is proud to offer the most comprehensive and effective package of dedicated SME banking products and services available in the market today. Beyond providing financial and technical assistance, we also offer essential guidance, training and mentorship to help entrepreneurs reach their full potential. We are grateful to Riyada for recognising National Bank of Oman’s work to support SMEs and create a strong and diversified economy in the sultanate.”

National Bank of Oman supports SMEs through its specialised Tijarati suite of products, including current accounts, programme lending, and trade and working capital. SMEs can also take advantage of the services and expertise of dedicated Tijarati banking relationship managers.

In 2014, the bank revamped its offering further, including the launch of first-of-a-kind SME Hubs, with dedicated staff on hand to provide entrepreneurs with the help and support they need to thrive. The bank extended support to over 15,000 SMEs in 2014.

In addition, as the only Omani bank with operations in the UAE, National Bank of Oman is able to facilitate trade flows between Oman and the UAE.