Alizz Islamic Bank and Sharakah Expand SME Programme to Empower Omani Entrepreneurs

Mohammed Fathy

Last updated 5-03-2026

4 min

Alizz Islamic Bank and Sharakah expand their SME programme for a second year.

Fifteen firms receive 12-month support, with “360-degree” assessments and tailored roadmaps.

Another 300 SMEs get training in finance, marketing, digital transformation and growth.

Leaders cite “tangible impact” and reaffirm SMEs as the backbone of progress.

The initiative blends funding and advisory to strengthen Oman’s diversification drive.

Alizz Islamic Bank and Sharakah are doubling down on their efforts to back Omani entrepreneurs, expanding the Alizz Business SME Development Programme for a second year running. After launching the initiative last year, the two institutions are now scaling it up, with plans to reach more businesses across the Sultanate and deepen the support on offer.

This time around, 15 high-potential SMEs will be selected for an intensive 12-month development track. At the same time, 300 small and medium-sized enterprises from across Oman will benefit from structured training and capacity-building sessions. It’s not a small ambition, and in a market where access to the right guidance can sometimes feel like a bit of a faff, that kind of structured support could make a real difference.

The programme sits under the bank’s SME platform, ‘Alizz Business’, and focuses on two main pillars: consultancy and capacity building. For the 15 selected companies, that means a full 360-degree assessment of their operations, followed by tailored strategic roadmaps, governance advice and leadership coaching. In plain terms, it’s about helping founders step back, look at the bigger picture and then move forward with a clearer plan.

On the other side, the wider group of 300 SMEs will take part in workshops and training sessions designed to sharpen core skills ,financial management, marketing strategy, digital transformation, operational efficiency and sustainable growth planning. Industry experts and mentors will lead these sessions, aligning the advice with current market trends rather than textbook theory. And believe it or not, that practical alignment is often what separates well-meaning programmes from those that are actually spot on.

Ali Muqaibal, CEO of Sharakah, said the second edition builds on the “tangible impact” of the first round, adding that the expanded scope will further empower Omani entrepreneurs with the structure and confidence needed to scale sustainably. Ali Al Mani, CEO of Alizz Islamic Bank, stressed that SMEs remain the backbone of economic progress. He noted that through ‘Alizz Business’, the bank aims to go beyond offering Shari’a-compliant financial solutions by investing directly in the development of the SME community, reinforcing a long-term commitment to a resilient and sustainable ecosystem.

From my own view covering startups across the MENA region, I’ve seen how governance and strategy are often overlooked when founders are busy chasing growth. Everyone talks about funding, less about structure. So I reckon programmes like this, which blend finance with hands-on advisory, can be more useful than they first appear. At Arageek, we constantly hear from founders who say what they really need is clarity — not just capital.

‘Alizz Business’ continues to offer a range of Shari’a-compliant financial products tailored to SMEs, including flexible financing for expansion and working capital, alongside digital banking tools meant to improve day-to-day efficiency. That combination of funding plus advisory support is clearly central to the bank’s approach.

Sharakah, for its part, has been active in Oman’s SME space since 1998, established by Royal Decree No. (76/98). Over the years, it has supported projects across multiple sectors through training, financial backing and consultation services. The organisation positions itself as a strategic player in the Sultanate’s SME landscape, with a focus on delivering measurable impact.

All of this ties into Oman’s broader push for economic diversification. Strengthening SMEs is widely seen as essential to creating jobs, fostering innovation and reducing reliance on traditional sectors. Whether this expanded programme will fully deliver on its ambitions remains to be seen, but the direction of travel is definately clear: more structured support, wider reach, and a stronger bet on local entrepreneurs to drive the next chapter of growth.

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