Sharakah Held its 22nd Annual General Meeting

Sharakah held its 22nd Annual General Meeting for the financial year ended 31st December 2021 on March 22,2022. The Meeting was presided by Mr. Hani bin Mohamed Al Zubair, Chairman of the Board of Directors and attended by Board Members, Shareholders, representatives of Shareholders, Statutory Auditors, Lawyer, MOCI representatives as well as Sharakah staff.

The meeting was held virtually through ‘Zoom’ under the supervision of the Ministry of Commerce, Industry & Investment Promotion and Muscat Clearing and Depository

Mr. Hani gave a brief about Sharakah’s achievements during the year despite the challenges caused by the pandemic and its effect on the overall economy and SMEs in particular. The recurrence of several waves of COVID-19 has been hindering the growth and development.


He further added: “Sharakah continued its helping hand to small businesses which have been hit by the pandemic, lockdowns and restrictions. In line with the Government of Oman, as well as the Central Bank’s directives, Sharakah stands committed to supporting SMEs overcome the hardship and rebound to normality as soon as possible. The Board of Sharakah, in the second successive year, as a supporting gesture, has approved a complete interest waiver to suffering and deserving SMEs. Many repayments have also been deferred and loans restructured. With relaxations happening and businesses opening up, we have resumed our visits and meetings with SMEs providing regular follow ups, guiding them through suggested modifications and/or innovations that could help them survive the unprecedented tough time. These interventions are showing a positive outcome”

As part of Sharakah’s 5 years plan (2021-2025) and in alignment with Oman’s Vision 2040 Sharakah introduced a special scheme for ‘Innovation and Technology” for supporting startups from 2022.

The AGM as well discussed and approved the Audited Financial Statements for the year 2021 and the appointment of Statutory Auditor for the financial year 2022.

Mr. Hani concluded by extending gratitude to His Majesty Sultan Haitham Bin Tariq for his guidance and support to the Omani SME sector. He furtherexpressed his thanks to the 62 shareholders (Individuals and institutions) for their belief and trust in the Board of Directors and their continued support for Sharakah.

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