Credit Oman Adopts Credit Ceilings of more than Two Million Omani Riyals

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Credit Oman adopted credit ceilings of a total value of 2,215,000 Omani Riyals, in January and February of 2020. The value of approved credit ceilings by virtue of export credit insurance policy reached 1,265,000 Omani Riyals from 26 exporters from the Sultanate and to the countries of the world, while the applications for credit ceilings by virtue of domestic credit insurance policy accounted for 950,000 Omani Riyals from 27 domestic sellers in the Sultanate to domestic buyers.

The credit ceilings were allocated in different sectors, including the construction materials, iron, consumer goods, plastics and petrochemicals, agricultural and fisheries sectors, in addition to various sectors in the primary industries and raw materials industry, and others.

Credit Oman continues to provide its services to manufacturers and exporters through its insurance services that protect exporters from the failure of local buyers to pay whether inside or outside the Sultanate. It is also keen to diversify its future services that would support the private sector in the Sultanate, encourage the entrepreneurial and the SMEs sector to export their products to all parts of the world and expand as well the sale of products manufactured in the Sultanate and to international markets without being concerned of the buyers’ failure to pay.