The Development Bank plays an important role in the country’s economic development. The bank now focuses on supporting small and medium-sized enterprises (SMEs) and larger development initiatives.

In this interview, Hussain Al Lawati, CEO of the Development Bank, discusses the bank’s role in supporting Oman Vision 2040 and government initiatives. He also highlights the challenges and opportunities for Oman’s economic development in the coming years.

Key takeaways from the interview:

1. The Development Bank’s role has been redefined to support Oman’s economic growth.
2. The bank’s capital has been increased to OMR500 million and loan capacities raised to OMR5 million.
3. The bank is now focused on larger development initiatives, including major infrastructure projects.
4. The bank is also working to support the growth of priority sectors such as industry, agriculture, fisheries, and tourism.
5. Some of the biggest challenges include making sure Oman’s entrepreneurs and SMEs are aware of the opportunities available to them.