SEZAD signs MoU with Oman Arab Bank
April 17, 2016
His Excellency Yahya bin Said bin Abdullah Al-Jabri, SEZAD Chairperson, signed at his office at Knowledge Oasis Muscat today (Monday 18 April 2016), a memorandum of understanding (MoU) with Oman Arab Bank (OAB). Under the MoU, OAB will provide financing services to private sector companies and institutions that are developing projects within SEZAD. The agreement was signed by Mr. Rashad bin Mohammed Al-Zubair, OAB Chairman and attended by Mr. Amin Al Husseini, OAB CEO.
The signing of this MoU is part of SEZAD’s efforts to encourage the private sector to invest in SEZAD and overcome financing difficulties faced by investors, especially small and medium enterprises sector.
The MoU encourages cooperation between SEZAD and OAB to facilitate procedures the investors should follow for funding their projects carried out in Duqm. Under this MoU, SEZAD will convey the offers received from OAB to investors, companies, and institutions wishing to invest in SEZAD.
OAB will provide many services for investors. In the field of corporate banking, the Bank will provide various types of financing needed by the companies including Trade Finance, Term Loans, Housing Loans, financial and investment consultancy of all kinds, Electronic Banking services, and many other services.
Through its cooperation with banking institutions, SEZAD seeks to encourage investors to localize their projects in Duqm.