National Finance, a leading financial institution in Oman, has renewed its long-standing partnership with Sharakah, a premier SME development organisation in Oman, to foster youth entrepreneurship, and support small and medium enterprises (SMEs).

The collaboration is part of National Finance's corporate social responsibility (CSR) initiative, Imtidad, which focuses on empowering local businesses and driving economic development.

The renewed agreement was formalised with the signing ceremony between Tariq bin Sulaiman Al Farsi, Chief Executive Officer of National Finance, and Ali Ahmed Muqaibal, CEO of Sharakah.

This strategic partnership will continue to nurture six local projects in the coming year, building on the success of previous initiatives that have equipped participants with critical skills and fostered their entrepreneurial ambitions.

Imtidad, the CSR arm of National Finance, is dedicated to supporting SMEs and budding entrepreneurs by helping them identify areas for operational enhancement.

The programme also provides guidance on implementing strategies that boost profitability and sustainability.

Since its inception, the initiative has played a significant role in empowering Omani businesses and fostering a culture of entrepreneurship across the sultanate.

Al Farsi emphasised the importance of sustained collaboration for national development.

“This partnership with Sharakah, built on shared achievements and a common vision, underscores our ongoing commitment to driving positive change in Oman’s SME sector.

“By empowering entrepreneurs, we are supporting the growth of small businesses and contributing to the overall economic development and the nation’s GDP.”

Muqaibal highlighted the critical role of such collaborations in creating a thriving entrepreneurial ecosystem in Oman.

“Partnerships like these are instrumental in facilitating knowledge exchange, expanding access to financing, and building a supportive network for SMEs.

“Through the combined efforts of various stakeholders, Sharakah has developed a comprehensive ecosystem that meets the diverse needs of startups and small businesses, enabling them to grow and succeed.”

The Imtidad programme has distinguished itself through its unique, market-specific approach, tailored to the needs of Omani entrepreneurs. Its success is a clear reflection of the value of corporate partnerships in nurturing entrepreneurship.

The tools and resources developed through this initiative have met local market demands and also offered scalable solutions that contribute to building a resilient economy in Oman. – TradeArabia News Service