MUSCAT – The launch ceremony was held under the patronage of His Excellency Sheikh Faisal bin Abdullah Al Rawas, Chairman of OCCI, at the Chamber’s headquarters in Muscat.
The event was attended by Eng. Hamoud bin Salem Al Saadi, Second Vice Chairman of OCCI and Chairman of the Supervisory Committee of the Franchise Centre; Zakariya bin Abdullah Al Saadi, CEO of OCCI; Hussein bin Ali Al Lawati, CEO of the Development Bank; and members of the supervisory committee.
The financing product stems from an agreement signed between OCCI’s Franchise Centre and the Development Bank on the sidelines of the Omani–Saudi Franchise Exhibition organised last year by OCCI in partnership with the Federation of Saudi Chambers. The initiative aims to finance entrepreneurs seeking to acquire franchise rights and expand their businesses under established brands.
The ‘Alama’ product forms part of national efforts to strengthen entrepreneurship and enable small and medium enterprises (SMEs) to enter the franchising sector, which offers growth and sustainability opportunities through proven business models. It also seeks to reduce project failure rates, provide flexible financing aligned with franchise requirements, and enhance institutional cooperation in support of economic diversification in line with Oman Vision 2040.
His Excellency Sheikh Faisal stated that the new financing solution reflects OCCI’s commitment to empowering the private sector and providing quality funding opportunities that enable entrepreneurs to invest in franchising with confidence and sustainability. He added that the partnership with the Development Bank represents effective institutional integration in supporting entrepreneurship and achieving national economic objectives.
Eng. Hamoud bin Salem Al Saadi noted that the program follows extensive studies conducted by the Franchise Centre, which highlighted growing demand among entrepreneurs to invest in franchising. He explained that the financing scheme was specifically designed to meet the sector’s unique requirements and support the expansion of Omani brands locally and internationally.
Hussein bin Ali Al Lawati, CEO of the Development Bank, said the ‘Alama’ product aligns with the bank’s strategy to support SMEs and provide access to promising investment opportunities. He added that the product targets entrepreneurs and SMEs entering the franchising sector, existing brand owners seeking expansion financing, and Omanis pursuing sustainable investment opportunities in development sectors supported by the bank.
He confirmed that the financing ceiling reaches RO 100,000, with a return rate of 3 percent, a repayment period of up to seven years, and a grace period of up to 12 months.
