ahlibank Celebrates 2 Million RO Milestone since launching “Tamkeen”

Muscat: To celebrate the milestone of its successful crowd funding initiative “Tamkeen”, ahlibank held an open day event with the presence of many stakeholders and beneficiaries of the program. The event aimed to highlight the importance of supporting SMEs and their significant role in helping entrepreneurs, providing job opportunities, and overall diversifying and enhancing the economy through innovative and advanced technological means. The “Tamkeen” initiative garnered the attention of many SMEs and has proven successful since its inception last year.

The unique “Tamkeen” crowdfunding initiative is a first-of-its-kind program that was launched in response to the Capital Market Authority’s issuance of crowd funding legislation, and aims to explore different means of funding through non-conventional ways. The initiative received positive feedback from both borrowers and potential investors and has closed OMR 2 Million worth of deals in only 9 months since its beginning.

Speaking on the impressive milestone achieved by the “Tamkeen” initiative, Zaliya Al Balushi, General Manager – Head of Corporate Banking at ahlibank, said, “At ahlibank, we realize the pivotal role SMEs play in supporting the local market and diversifying the economy. Therefore, the Tamkeen initiative was thoughtfully designed based on a critical understanding that SMEs may require funding through non-conventional means. We wish to support SMEs through easy, fast and safe financing solutions.”

“The development of SMEs is crucial on a nation-wide level as they contribute to fulfilling the Oman Vision 2040. The “Tamkeen” initiative has been very successful and has shown impressive growth in a short span of time since its beginning. We are proud to have closed OMR 2 million worth of deals and look forward to achieving greater milestones in the future,” Al Balushi added.

In line with ahlibank’s commitment to providing customer-centric services through pioneering initiatives, “Tamkeen” has encouraged a positive and substantial financing environment that has enhanced In-country value, productivity, and employability. It has also boosted the Bank’s contribution to the nation’s progress, and has provided opportunities to the youth for them to fulfill their business aspirations.