Muscat: Sharakah, Oman’s leading SME development company, has signed a Memorandum of Understanding (MoU) with ESTRLab LLC (Engineering Solutions and Technology Research Lab), a specialist research and development company dedicated to delivering innovative engineering, electronics, and digital technology solutions. The partnership aims to strengthen the growth of technology-based small and medium enterprises (SMEs) and foster innovation within Oman’s industrial and technology sectors.
The MoU was signed by Ali Ahmed Muqaibal, Chief Executive Officer of Sharakah, and Fahad Said Al Siyabi, founder, ESTRLab LLC. Under the agreement, ESTRLab will benefit from Sharakah’s Shariah-compliant financing facility, which will support the establishment of a new workshop to enhance local research, development, and production capabilities.
Commenting on the signing, Ali Ahmed Muqaibal said, “We are proud to partner with ESTRLab, a company that embodies innovation and technical excellence. By supporting their expansion through our Shariah-compliant facility, we aim to strengthen Oman’s engineering and technology sectors while encouraging the growth of knowledge-based SMEs.”
ESTRLab LLC, which serves clients across both public and private sectors, offers a comprehensive range of R&D and engineering services. Its core services include product design and prototyping, development of smart systems and connected devices (IoT), integration of software with electronic and mechanical systems, and maintenance, repair, and technical support.
Fahad Said Al Siyabi added, “This partnership with Sharakah provides the foundation we need to expand our R&D capabilities and deliver cutting-edge solutions to our clients. With Sharakah’s support, we look forward to contributing to Oman’s innovation ecosystem and advancing the nation’s technological competitiveness.”
The collaboration reinforces Sharakah’s ongoing commitment to empowering Omani entrepreneurs through Islamic finance and fostering sustainable SME development.
