Muscat Finance SAOG – the Sultanate’s leading non-banking finance company (NBFC) – recently hosted a meeting of its Board to help forge a robust strategy for sustaining business growth amid the current economic environment and set and agree vision and targets for the next 5 years.
Members of the Board of Directors joined high-level management executives in a daylong session of corporate brainstorming aimed at mapping out a bold new way forward for the company through the challenging times widely anticipated ahead.
Helping put heads together at the workshop was a top industry expert who was invited by Muscat Finance to speak about the challenges faced by his company in a mature and highly competitive market and what lessons could be learnt from their experience.
The upshot was a long term strategic plan, underpinned by a redefined vision statement that forms a new blueprint to keep the company growth-oriented, competitive and profitable. It advocates, among other things, a commitment to building on the company’s core strengths: innovative products, market positioning, and strong IT infrastructure and services. Most importantly, it strongly espouses an emphasis on a key pillar of Muscat Finance’s corporate philosophy: customer-centricity.
“We came out of the workshop upbeat and energised and ready to weather any market challenges with resolve and confidence,” said Mr. Bikram Rishi, CEO – Muscat Finance. “Clearly, there are tough times ahead as we take on major banks and other non-banking finance companies competing for market share in the finance and leasing space. But the five-year roadmap provides us with coherent goals, and the necessary pathways and timeframes for achieving our growth objectives, albeit with an unrelenting focus on customers and superior service,” he added.