The Financial Services Authority organized the "Financing and Insurance Products Forum – Nizwa" in collaboration with the Oman Chamber of Commerce and Industry in Al Dakhiliyah Governorate. The event was attended by entrepreneurs, government employees, bank staff, and participants from the University of Technology and Applied Sciences.

 

The forum aimed to highlight the latest financing and insurance solutions that contribute to the sustainability of businesses in Oman and expand economic growth opportunities. This included discussions on the role of crowdfunding platforms in supporting investment projects and ideas, showcasing a live model of the "Wadi'ah" platform.

 

The event featured several key topics, with participants presenting various research papers. One of the key discussions focused on insurance products designed for small and medium enterprises (SMEs) to protect them against business risks and create a secure environment for growth and expansion.

 

Speakers also emphasized the importance of health insurance in safeguarding individuals and their families. They provided guidance on selecting suitable health insurance plans to ensure proper medical and therapeutic coverage.

 

The presented research papers enriched the attendees with valuable insights, including discussions on borrower life insurance policies, which aim to protect borrowers in case of death or disability, preventing the inability to repay remaining loan amounts. Additionally, participants explored key terms and conditions of the unified vehicle insurance policy issued by the Financial Services Authority.

 

Given the increasing interest in crowdfunding platforms, the forum addressed them as one of the innovative financing tools offering flexible and effective solutions for SME funding. These platforms are emerging as a crucial driver of innovation and digital economic development in Oman. Since their official launch in 2022, Omani crowdfunding platforms have gained growing trust from investors and business owners. By the end of the third quarter of 2024, the total crowdfunding amount had reached approximately 8.4 million Omani rials, supporting 140 commercial projects across various sectors, including logistics, oil and gas, technology, and services.

 

The final research paper was presented by Credit Oman, outlining its role in protecting business owners and providing comprehensive solutions to support exports. This includes offering tools and services to increase sales, safeguard business rights, and open new markets.

 

The event concluded with a discussion session addressing audience questions and enhancing their understanding of the forum’s key topics.

 

It is worth noting that the Financial Services Authority continues to conduct awareness tours across all governorates of Oman, showcasing the latest financing and insurance products to promote awareness and encourage business growth in the Sultanate.