Banks operating in Oman will have to lend at least 5% of their credit portfolios to small- and medium-sized enterprises (SMEs) under regulations issued by the central bank last week.
According to the International Monetary Fund (IMF), unemployment in Oman is running at around 24% – a key motivation behind the government making SMEs a ‘thrust area' of its economic policy.
The central bank has now also enacted a series of reforms aimed at easing the flow of credit to the sector. In addition to the
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