SME SUPPORT AND FUNDING

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1 inspire. empower. connect Oman SME SUPPORT AND FUNDING A list of organizations that support and fund small and medium sized enterprises in Oman

2 SME SUPPORT AND FUNDING SME Support Organizations Knowledge Oasis Muscat (KOM) Dedicated to supporting technology-oriented businesses, Knowledge Oasis Muscat brings together a variety of enterprises, including HP, Oracle, Microsoft, NCR, Motorola and Huawei as well as dynamic startups. Ministry of Commerce and Industry The Ministry of Commerce and Industry is comprised of the Directorate General of Commerce, the Directorate General of Industry, and the Diwan of the Ministry. Omani Centre for Investment and Export Development (OCIPED) (OCIPED) is a Government establishment that aims to improve the private sector. Ruwad Ruwad is a bilingual magazine launched in 2009 in conjunction with Intilaaqah, Sharakah, and Alam Aliktisaad Wala mal, and published by United Press & Publishing. It provides information on the latest industry statistics and on opportunities in the market and relevant business trends. It also provides matchmaking opportunities by bringing young entrepreneurs and industry experts together to identify business opportunities. The SANAD Program The SANAD program was set up in 2001 by the Omani government to help promote and foster the development of small-scale enterprises in Oman. Young men and women from years of age are encouraged to start their own business and are given a maximum loan of OMR5,000 (approximately US$13,000). MOCI/?lang=en-us en/sanad_home.asp

3 SME SUPPORT AND FUNDING Incubators The Knowledge Mine The Knowledge Mine (TKM) is a publicly funded business incubator program based at the Knowledge Oasis Muscat (KOM). It offers companies with high growth potential the following services: business mentoring, office space, reduced overheads, marketing assistance, financial signposting and access to many other areas of expertise. Mentors include Ernst & Young, Trowers & Hamlins, Intilaaqah, Abu Ghazaleh Intellectual Property, and KPMG.

4 SME SUPPORT AND FUNDING Venture Capital and Private Equity Firms Al Anwar Holdings Al Anwar Holdings provides private equity investments in insurance, manufacturing and the information technology sectors. Intilaaqah Enterprise Fund (IEF) Intilaaqah is a US$10.0 million fund contributed by Shell to Oman that consists of a revolving fund dedicated to SMEs. Intilaaqah aims to stimulate and encourage Omani youth to consider the option of setting up their own businesses, and to provide assistance to those who aspire to seek this opportunity, by providing them with training and counseling. Fund for Development of Youth Projects The Fund for Development of Youth Projects (YF) is a private initiative to support young Omani men and women in starting small and medium enterprises. It provides equity financing starting from OMR20,000 (US$52,000). The investment agreement gives the entrepreneur the flexibility to buy back the equity in his or her enterprise at market value during a period of 5 years. Neuhaus Partners The German company Neuhaus Partners assists SMEs in the sultanate and across the region through a venture capital fund worth US$135.0 million designed to seed new startups A significant proportion of the funds raised will be made available to technology startups in Oman. Knowledge Oasis Muscat is a local partner in the venture fund. com/ sharakah/ com/index.php?id=9&l=1

5 Oman Investment Corporation Oman Investment Corporation provides private equity investments in various sectors including oil and gas, construction and aviation. Oman Venture Capital The Omani Center for Investment Promotion and Export Development (OCIPED) recently announced the creation of this fund to provide services for SMEs. The Oman Venture Capital Fund aims to create employment opportunities for young Omanis and develop a new middle class of entrepreneurs by providing comprehensive services to address the needs of SMEs. These services include providing access to financing, offering mentorship for SME owners, and offering specific support for women. Sharakah The Sharakah programme is owned and operated by the Fund for the Development of Youth Projects and is a venture capital fund dedicated to SMEs in Oman. It provides equity financing starting from OMR 20,000 (US$52,000). The investment agreement gives the entrepreneur the flexibility to buy back the equity in his or her enterprise at market value during a period of 5 years. Projects supported by the Fund also have an automatic fiveyear tax break and are also entitled to soft loans. Riyada Enterprise Development Riyada Enterprise Development Fund SME investment platform is designed to provide growth capital to an under-served market in the MENASA region. Riyada invests in businesses that are proven and have a core management team with the desire and capability to expand their business. The Fund also provides capital to earlier stage enterprises, particularly in the technology and media segments. new/default.aspx sharakah details.aspx?mid=482

6 SME SUPPORT AND FUNDING SME Banks Al Omaniya Al-Omaniya Financial Services Company was established in 1997 by a group of 36 founders led by Bank Muscat to take over its local vehicle leasing operations. Al Omaniya Financial Services SAOG provides financial and leasing services for individuals and businesses. The Company is engaged in the hire-purchase and lease-financing of vehicles and other assets. Bank Sohar Bank Sohar SAOG offers corporate and retail banking solutions to individuals and enterprises in Oman. The Corporate Banking caters to corporations, SMEs, and government entities by offering corporate loans, project finance, cash management, working capital, term loans, contract finance, and real estate finance. BankMuscat The SME Credit and Marketing Department of Bank Muscat has been very dynamic in financing businesses and strengthening the SME foundation in Oman. In 2008, as additional support to SMEs, the bank organized three free training sessions for the general SME population through collaboration with International Finance Corporation s Business Edge Programme. financial_markets/oman/ Company_OM banksohar/index.jsp Export Credit Guarantee Agency (ECGA) The Export Credit Guarantee Agency has been operating since 1991 and covers insurance for commercial, political and country risk. It provides export insurance to Omani exporters and assists them in obtaining post shipment financing facilities for credit insured exports at concessional rates. HSBC Bank HSBC is aggressively pursuing the under served small and medium enterprise (SME) sector in Oman with its Business Banking Unit (BBU).

7 Muscat Finance Muscat Finance Company Limited SAOG started in 1987 and is engaged in installment financing and leasing of vehicles and other assets, debt factoring, working capital and receivable financing activities. The company has carved a niche within the SME sector and has a large number of repeat customers. National Bank of Oman (Tijarati Banking Segment) Tijarati Banking includes a suite of financial services designed to address the growing needs of the SME segment, including flexible business loans without collateral or a guarantor. The loans are targeted at small, established companies and selfemployed individuals who need immediate finance. National Finance Company National Finance Co. SAOG is an Oman-based financial institution established in 1987 and engaged primarily in the provision of leasing activities. The company offers a range of financial products to corporate and retail customers with a focus on SMEs. Its products are offered through two segments: Individuals and SMEs/Corporates. The SMEs/Corporates segment targets enterprises and offers new and used vehicle financing, equipment financing, debt factoring, corporate deposits, sales and lease back, and a top-up facility. Oman Development Bank (ODB) The Oman Development Bank (ODB) is a commercial bank that provides entrepreneurs with soft loans. The loans disbursed to entrepreneurs go up to OMR250,000 (US$650,000) with generous repayment terms and a 3.0% annual interest rate. The ODB encourages projects in the manufacturing sector. Oman Orix Oman Orix Leasing Company commenced operations in 1994 as a pioneer leasing company in Oman, providing medium to long-term financing of moveable assets to individuals and small and medium enterprises. loans_tijarati.aspx

8 Standard Chartered Bank Standard Chartered launched SME Banking Business in February It has delivered an SME service center, tailored accounting packages, trade and treasury services, transactional banking solutions and dedicated relationship management services. It plans a series of new product launches directed at retail and SME customers. Tageer Tageer is a non-banking finance company that was licensed by the Central Bank of Oman in With US$179 million in assets, it caters to the increasing needs of the business segment in the Sultanate of Oman by offering financing for automobiles, plants and machinery, heavy equipment, and bridge and construction loans. It also offers non-conventional financing and consumer loans. United Finance Company Established in 1997, United Finance Company is the largest of the six finance companies operating in Oman with a market share of approximately 25%. It offers a range of conventional and nonconventional financial products and services, which cover heavy equipment finance, composite loans and bridge finance. com/om/sme-banking/en index.aspx

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