Sohar International Signs MoU with Lahunna Oman to Support ‘Siraj’ Program empowering the Growth of Women-Owned SMEs

Muscat : In line with its commitment to strengthening Oman’s SME ecosystem and advancing women’s entrepreneurship, Sohar International has signed a Memorandum of Understanding (MoU) with Lahunna Oman to support the development of women-owned small and medium enterprises (SMEs) in the Sultanate. The MoU was signed by Dr. Mazin Mahmood Al Raisi, Chief Marketing Officer at Sohar International, and ‏Shatha Salim Al Maskiry, Founder of Lahunna Oman, marking a strategic collaboration focused on equipping Omani women entrepreneurs with the knowledge and capabilities needed to take their businesses forward.

Under the collaboration, Sohar International will support Lahunna Oman’s Siraj SME Mentorship Program as Main Partner. The 22-week initiative is designed for established Omani women-owned businesses seeking to advance to their next stage of growth through structured mentorship, enhanced financial understanding, practical business guidance, and access to relevant markets and networks.

Commenting on the bank’s involvement, Dr. Mazin Mahmood Al Raisi, Chief Marketing Officer at Sohar International, said, “Financial literacy is not simply about understanding numbers; it is a practical business capability that shapes the quality of decisions made within an enterprise. For SMEs, this understanding provides a more reliable basis for evaluating opportunities and planning expansion. Women-owned enterprises already make a meaningful contribution to Oman’s economy, and their continued development requires sustained engagement. Our participation in the mentorship program is grounded in this perspective and in recognition of the role the SME sector plays in employment creation and the economic diversification envisioned under Oman Vision 2040.”

Shatha Salim Al Maskiry, Founder of Lahunna Oman added, “We believe that every business led by a woman holds a story, hard work, and potential that deserve to be empowered. Through Siraj, we partner with female entrepreneurs to translate their hard work into measurable growth, scalable ventures, and greater economic impact. The programme enables participants to gain deeper insight into their businesses, streamline their priorities, and make well-informed decisions confidently. As these businesses scale, their positive impact ripples out thereby creating new job opportunities, boosting in-country value, and driving economic diversification in Oman.”

Participation is focused on Omani women who own registered, revenue-generating businesses that have been operating for at least one year. This directs the program towards enterprises with an established track record and clearly identified commercial priorities. An initial assessment will inform the mentorship provided, which will be linked to implementation and measurable progress. At the concluding Demo Day, participants will also have the opportunity to demonstrate how the program has influenced their business decisions and priorities for the period ahead.

The program will include workshops that will be hosted at Sohar International Academy, which will connect participants with banking specialists, industry practitioners, and other experts. These interactions will offer relevant perspectives on financial planning and credit readiness, while also addressing wider considerations associated with business growth.

By working closely with businesses at this stage of development, the bank also seeks to deepen its understanding of how SME needs evolve and differ across sectors. Drawing on these insights, the bank aims to further enhance its solutions in areas such as payments, working capital, business finance, and corporate services.

Sohar International will continue to extend its role beyond traditional financial services as both a banking and knowledge partner to Oman’s business community. By supporting women entrepreneurs and enabling SMEs to pursue further growth, the bank seeks to reinforce the contribution of local enterprises to the Sultanate’s broader economic development.

Women entrepreneurs can join the Siraj program by applying through this link: https://forms.gle/wnRnKY3iDD29CXwt9.

About Sohar International:

Sohar International is guided by a clear vision to become a world-leading Omani service company that helps customers, communities, and people prosper and grow. With a purpose to help people ‘win’ by delivering responsive banking for their ever-changing world, the bank offers innovative solutions across Commercial and Investment Banking, Wealth Management, Islamic Banking, and more. Operating with a strong digital-first approach and an expanding regional footprint—including presence in the Kingdom of Saudi Arabia—Sohar International is committed to driving value through strategic partnerships and a dynamic customer experience. Learn more at www.SIB.om