The Al Wathbah Academy session commenced in Muscat with 14 entrepreneurs while the new session began in Sur with 16 entrepreneurs. The training programme is targeted at Omani entrepreneurs promoting 100 per cent Omani-owned SME enterprises with existing relationship with Bank Muscat. The business is required to have a track record of profitability over the last two to three years.
Fatma al Maskiry, AGM - SME Credit and Marketing, said, “Bank Muscat is proud to support the country’s youth in the development of successful SMEs. The unique Al Wathbah Academy programme is widening its reach to benefit entrepreneurs in Sharqiyah governorate following successful programmes in Muscat, Sohar, Salalah and Nizwa. The programme reflects the bank’s commitment to sustainable development, strengthening the role of SMEs in the economic development of Oman. Al Wathbah Academy programmes across Oman impart the required skills and guidance for entrepreneurs drawn from diverse fields to embark on successful SME business ventures. The programme leads to accredited international certification by Project Management Institute (PMI).”
The Al Wathbah Academy was launched by the bank in 2014 as part of its Corporate Social Responsibility (CSR) initiative to equip youth with self-employment skills. A total of 72 entrepreneurs have graduated from the SME Academy till date and are successfully following their business dreams, contributing to the country’s progress and development. Notably, the SME training programme is benefiting entrepreneurs across the regions to acquire the required skill set and knowledge to chart successful business ventures.
The bank’s Al Wathbah SME department offers a comprehensive suite of tailor-made finance solutions and non-financial services targeted at small and medium enterprises. Credit facilities, both short-term and long-term in nature, are available to all sectors. Further support is extended through non-financial services in areas of education, coaching, networking opportunities and workshops. Serving as building blocks for existing and prospective entrepreneurs, all these initiatives assume importance in the backdrop of the priority accorded to develop the SME sector in Oman.