Discussion panel explores better prospects for SME financing

Muscat: The Authority for Small and Medium Enterprises Development (ASMED) today organised the first discussion panel (during 2024) with a group of entrepreneurs benefiting from the Authority’s “Al Azm” financing programmes portfolio.

Titled "Prospects for Financing Small and Medium Enterprises", the discussion panel was aimed at highlighting key challenges in SME funding procedures.

The session explored ways to upgrade the efficiency of financing procedures and accelerating endorsement methods to help improve regulations for financing services. The mechanism is deemed necessary for making the procedures easier and faster and cut down waiting time for entrepreneurs. It also seeks to enhance opportunities for access to financing and developing financing mechanisms to meet the needs of entrepreneurs in a more flexible manner.

By the end of June 2024, ASMED approved a total of 312 applications to the tune of OMR30,724,662.