The new working capital facility product is aimed at companies who have been established for three or more years with a good track record. Credit facilities of up to RO500,000 will be made available under this new product. The product also offers funded and non- funded facilities like overdrafts, letters of credit, bank guarantees etc.
In 2010, the bank plans to build its portfolio of SME clients with an enhanced range of products and is targeting SME’s that comply with the proposed business banking criteria across nearly all industry sectors, including construction, property development, manufacturing, retail, trading, transportation, hospitality and tourism, communication and education.
In addition, the facility enables access to Ahli Bank branches across Oman, Egypt, the UK, Bahrain, Qatar, Kuwait and Iraq through the its strategic partners.
Abdul Aziz Al Balushi, CEO said: “SMEs have been a focus area for Ahli Bank and this product will expand Ahli Bank’s range of specific offerings to the SME sector. This product will have attractive features including competitive pricing, structure tailored specifically to SME’s, faster turnaround on credit applications and high quality of service.”
