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About Us

 

Company Profile

Founded in July 1987 as the first Non-Banking Financial Companies in the Sultanate of Oman, Muscat Finance has delivered decades of innovative financial services to thousands of small and medium businesses, and individuals across the country. Our customers trust us daily to deliver multi-faceted, customer-centric solutions to help them fulfil their financial ambitions.

We pride ourselves as being the pioneers of vehicle finance leasing and debt factoring in Oman. Today, Muscat Finance provides financial solutions to both individuals and business customers, through an array of products including car finance, consumer durables finance, working capital, debt factoring and equipment leasing.

As a leading listed financial services company in Oman, Muscat Finance has eminent shareholders including Al Yousef Group and Al Zawawi Group. We are financially transparent, regulated by both the Central Bank of Oman (CBO) and the Capital Markets Authority (CMA).

+0k

All Time Clients

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Active Clients

+RO1.5bn

All-time Funding

+0mn

Active Loans

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Our Vision:

Is to be the 1st choice for achieving the financial goals of our customers in Oman.

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Our Mission:

We are a team of experts committed to deliver financial solution no-one else offers through innovative use of technology and exceptional service.

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Our Values:

We at Muscat Finance hold true to our three core values; Fast, Simple and Friendly to deliver on our promise of being the 1st choice for our customers.

Our Team

Team

Mr. Faisal Mohamed Al Yousef

Chairman

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Mr. Pramod Kumar Hiran

Deputy Chairman

Team

Mr. Babu P Thomas

Director and Chairman of Audit Committee

Team

Mr. Mohammed Redha Al Lawati

Director and Chairman of Risk Management Committee

Team

Mr. Gamal Mohammed Mohammed Ahmed Abdalla

Director

Team

Mr. Chandrahasan Thozhukkat Menon

Director

Team

Mr. Mohammed Amer Mohammed ElMettwaly Satour

Director

Team

Mr. Tariq Hilal Al Barwani

Director

Team

Mr. Salim Ahmed Salim Marai Al Shanfari

Director

Experts in our field

We pride ourselves as being the pioneers of vehicle finance leasing and debt factoring in Oman. Today, Muscat Finance provides financial solutions to both individuals and business customers, through an array of products including car finance, consumer durables finance, working capital, debt factoring and equipment leasing.

Experts

Key Messages

On behalf of the Board of Directors, I am pleased to present the Annual Report for the year ended December 31, 2020.

The year 2020 started on a disconsolate note of the sad demise of our revered HM Sultan Qaboos bin Said. This followed by the outbreak of COVID-19 and its consequential lock down caused an unplanned slowdown of the economy. The operating cash flows for the corporate sector in general came under stress, while economic activity receded through 2020. This resulted in new lending opportunities to be limited, also causing an increase in non-performing loans for the Company.

The Company reorganized its resources towards proactively managing its customers through concerted collection efforts. The Company also ensured that services continue for its customers during the pandemic. Remedial and legal functions were strengthened to continue the focus on recoveries through 2021.

Muscat Finance is optimistic about the Sultanate’s vision 2040 of diversifying the economy into non-hydrocarbon areas, resulting in a diverse source of revenue streams and a more vibrant economy going forward. This will translate into a wider opportunity for Muscat Finance SAOG and the finance sector in general.

Business Results

Due to the prevailing conditions through the year, Muscat Finance has been selective in new lending. This has resulted in the portfolio growth to be below budgeted levels. The Company stood by existing clients in offering payment deferments where merited and helping them navigate a difficult year.

In Retail finance, signs of improvement in business activity towards the latter half of the year have been observed. The Company has positioned well with its partners through initiatives such as Íhtifal Tamweel’ wherein the end customer receives additional value for the borrowing relationship with the Company. Such alliances will go a long way in capturing lending opportunities as the market activity improves further. On the corporate front, the Company also proactively accommodated our clients through the year.”

Faisal Mohamed Al Yousef
Chairman

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