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Oman urges banks to boost lending to SMEs
- Oman: Thursday, April 25 - 2013 at 06:09
Oman's central bank has said it plans to issue rules to boost lending to small and medium-sized firms, in a new move to help bring unemployment down in the sultanate, Reuters has reported. "Bankers will appreciate that growth of SMEs is critical to alleviating the unemployment problem in Oman," executive president Hamood Sangour al-Zadjali told an annual bankers' meeting. "I therefore urge the banking community to gear up their infrastructure and tweak their policies to accelerate credit flow to the SME sector in line with government policy," he said, adding the apex lender will issue appropriate regulations "as and when formal communication is received in this regard from the government."
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