Oman Arab Bank has partnered with Zubair Small Enterprises Center (Zubair SEC) as part of its continued commitment to support the Small and Medium Enterprises (SME) sector.

The partnership agreement, signed by Rashad Al Musafir, CEO – Oman Arab Bank and Hani Mohammed Al Zubair, Board Member – The Zubair Corporation, will see the bank take one of the ten Direct Support Programme (DSP) members under its wing for 2020.

Commenting on the signing ceremony, that took place during the launch of the sixth edition of the Zubair SEC DSP programme, Musafir said: “We have a strong interest in the small enterprise sector. We believe that it can significantly support the growth of the national economy by diversifying the country’s sources of income and providing employment opportunities for the youth.”

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He added, “Zubair SEC has a proven track record of supporting small enterprises, providing them with advisory, administrative and financial support and guiding them on a path towards growth and success. As such, we are honoured to be in a position to support their DSP initiative.

According to Musafir, under the agreement, the Bank will support and finance one of the members of the Programme in any way it can. “The bank’s team has extensive experience in finance and strategic management, and we aim to put this expertise to good use offering them guidance on how to enhance the performance of their company, achieve sustainable growth, and take their business to the next level,” he added.

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Mohammed Mubarak Al Hasani, Chief Communications Officer of The Zubair Corporation, on behalf of Zubair SEC also spoke on the occasion and said: “We are confident that our partnership with such a prestigious financial institution as Oman Arab Bank will have a positive effect on the performance of the small enterprise they will be taking under their wing over the next couple of months. Its success will mark yet another milestone in our journey towards establishing a strong base of small enterprises in the country.”

Hasani also thanked the bank for their adoption of one of their DSP members, which in turn he said would help take Zubair SEC yet another step closer toward achieving its goals. “This partnership is also a testament to the successes that can be achieved through collaborations between leading private sector institutions and small enterprises in the local market.”