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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

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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

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

I am Hussain Al Lawati, CEO of Muscat Finance.

Thank you for being here!

Founded in July 1987 as the first Non-Banking Financial Companies in the Sultanate of Oman, founded with the spirit to contribute to the economic development of the nation, keeping finance and customer-centricity at the heart of it.

With the focus towards retail and corporate financing, debt factoring, the Company has led the financial innovation in the country and has brought in a paradigm shift in the way businesses are enabled to be successful, perpetually helping Muscat Finance to become one of the leading finance companies in Oman.

The company now has a strong foothold in the domain of retail and corporate finance positioning itself as a comprehensive financial institution that encompasses all Industry sectors, operating with 6 branches across Oman. This wouldn't have been possible without the faith and confidence the customers and shareholders had in us. The tireless commitment and the customer-first attitude of our employees made these achievements an everyday celebration.

As the dynamics of the economy change, we have a never-before opportunity to tap into various business prospects by launching new products. Being at the forefront, creating opportunities and delivering on customers' commitments as a leading financial organisation for 35 years, gives us an extra edge to assess the future of businesses and help customers navigate through them.

Our organisational culture values employees without identifying them with their race, religion, gender, colour. We are an equal opportunity organisation with focus on the well-being of employees investing in their personal and professional growth.

I wish our customers exceed their own expectations and goals for many years to come.

Muscat Finance has a proud legacy of being the first Finance and Leasing company in Oman, registered in the year 1987. Our journey is characterised by pioneering innovation and widening reach for financial services to the business community. We offer a range of corporate financing solutions such as leasing, factoring, working capital loans as well as high-yield fixed deposits. For retail customers, we offer both car and household consumable financing.

Our vision of 'Enabling Dreams' keeps us committed to continue exceeding our customers' expectations. As a public listed entity regulated by both the Central Bank of Oman and Capital Market Authority, we deliver our services with robust governance and full transparency.

By staying true to our Omani heritage, our focus on partnering local growth opportunities remains central to our future plans. As we navigate through a difficult time caused by the pandemic, we are thankful and committed to our customers for their continued patronage and support.

Mr. Fahd Amjad
Acting CEO

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