Saturday 01 / February / 2025
Muscat: The Small and Medium Enterprises Development Fund 'Inma' has announced the commencement of financing applications for the new year. Entrepreneurs and owners of small and medium enterprises (SMEs) can now take advantage of the financial products and services offered by the fund to support their business ventures, which play a significant role in bolstering the national economy.
Yahya bin Saleh Al Siyabi, Marketing Manager at Inma fund, stated that the total amount allocated for financing SMEs this year is OMR25 million, distributed across the fund’s branches in Sohar and Salalah, in addition to the main headquarters in Muscat.
He confirmed to the Oman News Agency that Inma Fund will continue to follow the previous procedures and conditions that qualify clients to benefit from the financial services.
Loan repayment periods will extend to 8 years instead of 5 years for most financial products offered by the fund. He noted that financing will cover assets, projects, invoice discounting, and working capital, with financing amounts ranging from OMR50,000 to OMR500,000, and potentially up to OMR1 million for larger companies. Inma Fund follows an Islamic financing programme to meet customer preferences.
Regarding the sectors that will receive focus for financing this year, Al Siyabi revealed that Inma Fund places great importance on SMEs in Oman.
The fund’s plan for this year identifies a range of sectors to encourage work and investment, directing SMEs to concentrate on tourism, services, infrastructure and transportation, oil and gas, industry, and trade.
Al Siyabi stated that Inma Fund will continue this year to offer its unique advantages to financed clients, including a field visit programme for SMEs to monitor and guide their project development.
Additionally, the fund will offer accounting book monitoring, which involves auditing and monthly tracking of financial flows by specialised accounting firms contracted by the fund to provide their services to clients.
