Empowering Oman’s Future: Alizz Islamic Bank and Sharakah Scale Up SME Development

Small and Medium Enterprises (SMEs) are the lifeblood of any growing economy, and in Oman, the commitment to nurturing these businesses has just taken a significant leap forward. Building on the success of last year’s inaugural launch, Alizz Islamic Bank and Sharakah have officially announced the second edition of the Alizz Business SME Development Programme. This isn't just a minor update; it is a full-scale expansion aimed at reaching more entrepreneurs and providing deeper support across the Sultanate.

The renewed partnership signifies a deep-rooted commitment to strengthening Oman’s entrepreneurial ecosystem. By combining the financial expertise of Alizz Islamic Bank with Sharakah’s long-standing history in SME development, the program is set to empower 15 high-potential SMEs through an intensive development journey. Beyond these core participants, the initiative is casting a much wider net, offering structured capacity-building opportunities to a staggering 300 SMEs throughout the country.

A Two-Pillar Approach to Sustainable Growth

At the heart of the 'Alizz Business' value proposition is the understanding that Omani entrepreneurs need more than just capital to succeed in today’s evolving market; they need a roadmap and the right toolkit. The second edition of the programme is strategically built around two core pillars: consultancy and capacity building. This dual-track system ensures that while a select group receives deep-dive attention, the broader business community still benefits from professional training.

For the 15 selected SMEs, the program offers a 12-month intensive journey. This includes tailored consultancy services that begin with comprehensive 360-degree business assessments. These aren't just surface-level checks; they are deep audits of how a business operates, followed by the development of long-term strategic roadmaps. Entrepreneurs will also receive governance advisory and one-on-one leadership coaching to prepare them for the challenges of scaling a business.

Strengthening the Backbone of the Economy

While the 15 SMEs receive personalized coaching, the 300 broader participants will have access to structured educational workshops and training sessions held across the Sultanate. These sessions are designed to tackle the most common hurdles faced by growing businesses. The curriculum covers essential competencies such as financial management, marketing strategy, digital transformation, operational efficiency, and sustainable growth planning.

By bringing in industry experts and mentors, the programme ensures that the insights provided are not just theoretical but aligned with current market trends and practical best practices. The goal is to move the needle on measurable impact, enhancing operational resilience and providing Omani SMEs with the strategic clarity they need to expand their market opportunities.

Leadership Perspectives on the Partnership

Ali Muqaibal, CEO of Sharakah, highlighted the importance of this evolution, stating that this second edition is a direct result of the tangible impact seen during their initial collaboration. He noted that by expanding the number of beneficiaries and deepening the scope of the program, they are providing Omani entrepreneurs with the expertise and confidence needed to scale sustainably.

Echoing this sentiment, Ali Al Mani, CEO of Alizz Islamic Bank, emphasized the bank's role beyond traditional finance. He stated that the bank firmly believes SMEs are the backbone of economic progress. Through 'Alizz Business', the bank goes beyond offering Shari’a-compliant financial solutions by actively investing in the development of the community. This partnership reinforces a long-term vision of building a resilient and sustainable SME ecosystem in Oman.

Comprehensive Financial Support with Alizz Business

It is important to note that 'Alizz Business' is more than just a training program; it is a comprehensive suite of financial products. Alizz Islamic Bank continues to offer tailored Shari’a-compliant solutions, including flexible financing for expansion and working capital. This is paired with advanced digital banking capabilities designed to help SMEs manage their operations with greater efficiency and transparency.

Sharakah, established by Royal Decree in 1998, brings decades of experience to the table. As one of Oman’s first SME development initiatives, its vision has always been to foster the entrepreneurial spirit through financial support, consultation, and training. Together with Alizz Islamic Bank—which has been a pioneer in Islamic banking since 2013—this partnership represents a powerful alliance dedicated to Oman’s broader economic diversification agenda and job creation goals.