Under the umbrella of the ‘Alizz Cares’ Programme and as part of the banks ongoing commitment to enhancing and supporting small and medium enterprises (SMEs) in Oman, Alizz Islamic Bank, in collaboration with Sharakah, Oman’s leading SME development company celebrated the transformation and performance of the eight SMEs from the ‘Alizz Business SMEs Development Programme’. The year long initiative has empowered eight Omani Small and Medium enterprises (SMEs) with the tools, strategies and mentorship needed to achieve sustainable growth and long-term success.
The programme provided intensive guidance to running businesses, focusing on boosting their operational capabilities and fostering long-term success. The eight SMEs include three that were nominated by the SMEs Development Authority, two from Alizz Islamic Bank’s Business Banking customers, and three that were selected from a pool of 105 applicants through social media platforms. The participants represented a balance of service based (50%) and product based (50%) businesses, spanning diverse sectors such as e-commerce (1), entertainment and team building (1), manufacturing (2) and services (4).
These selected SMEs received personalised consultancy services, including a 360-degree business assessment, the development of long-term strategic plans, and life coaching to enhance leadership skills. The capacity-building component focused on strengthening core business competencies through training sessions on marketing, social media strategies and effective cash flow management. Industry experts also provided valuable insights to help the SMEs align their operations with current market trends. During the programme, a total of 16 site visits and 18 business performance monitoring tasks (BPMTs) were conducted, while over 120 hours of advisory services and five hours of life coaching were dedicated to strengthening management practices and leadership capabilities.
‘Alizz Business’ is a comprehensive financial service offering from Alizz Islamic Bank, tailored to meet the specific needs of SMEs in Oman. It offers a variety of Shari’a-compliant products, including flexible financing solutions for business expansion, working capital, and diversification, along with attractive savings and investment opportunities. Additionally, ‘Alizz Business’ provides SMEs with access to a cutting-edge internet banking platform, enabling secure and efficient transaction management. Alizz Islamic Bank’s commitment to this initiative highlights its dedication to fostering SME growth, recognising their pivotal role in driving economic progress
Speaking about the graduation, Mr. Ali Ahmed Muqaibal, Chief Executive Officer of Sharakah, said, “We are proud to celebrate the achievements of these remarkable enterprises. Their journey reflects the power of collaboration and the value of continuous development. Together with Alizz Islamic Bank, we have provided these entrepreneurs with the tools, insight and confidence to scale their businesses sustainably and contribute to Oman’s economic vision.”
Also touching on the graduation, Mr. Ali Al Mani, Chief Executive Officer of Alizz Islamic Bank, said, “At Alizz Islamic Bank we are committed to empowering Omani SMEs by equipping them with the banking solutions and knowledge that will enable them to learn, expand and achieve sustainable growth. Our partnership with Sharakah demonstrates our shared belief in nurturing innovation and resilience in Small & Medium Enterprises in line with the country’s growth trajectory and a step towards fulfilling the objectives if Oman Vision 2040. Hence, we plan to work closely together in the upcoming year in finding ways to bridge the gaps between us and the local SME sector.”
