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Bank Nizwa SME Banking provides a suite of Sharia compliant products to meet the everyday banking needs of all categories of SMEs. We endeavour to provide an ethical banking environment that supports growth at every stage of our client’s business lifecycle.
Small and Medium Enterprises (SME) in the Sultanate are categorised based on the number of employees and annual turnover. Broadly, SMEs are divided into three categories: Micro Enterprises, Small Enterprises and Medium Enterprises.
Category | Number of Employees | Annual Turnover |
Micro Enterprises | 1 - 5 | < OMR 100,000 |
Small Enterprises | 6 - 25 | Between OMR 100,000 and less than OMR 500,000 |
Medium Enterprises | 26 - 99 | Between OMR 500,000 and less than OMR 3,000,000 |
Source: Central Bank of Oman guidelines dated January 12, 2016.
At Bank Nizwa, we understand that SMEs play an important role in the nation’s economic growth, and the right financial support is essential for their development. However, a large number of SMEs are still unbanked, and a greater number still are unable to access financing acilities. This limited access is largely attributed to the level of perceived risks associated with SMEs.
We see SMEs as valuable business partners, and we are committed to address the unique banking needs of SMEs through continuous innovation and improvement of our product suite.