Special Economic Zone Authority at Duqm (SEZAD) seeks to attract investors to invest in the special economic zone through the signing of partnerships with the local banks.
Oman’s SEZAD has collaborated with Bank of Beirut in Oman to provide banking options and facilities to the investors willing to invest in Duqm Special Economic Zone.
In a statement, Bank of Beirut in Oman stated that the corporation is part of the ongoing efforts exerted by Duqm Special Economic Zone Authority to help investors obtain the funding required to implement their projects in Duqm Special Economic Zone Authority.
SEZAD previously signed several MoUs with the commercial banks and their Islamic windows.
The Bank of Beirut will provide many services to the investors such as the cooperate banking facilities, finance options of all kinds as well as advances, term loans and advances against credit instruments.
The lender also committed to provide advances against receivables, real estate loans as well as financial and investment consultancy services of all kinds, electronic banking services and provide special options for the management of the government accounts among other special banking services.
The MoU will remain valid for three years and it requires the bank to exert reasonable efforts to provide the banking services on d on favourable and preferential terms, at its sole discretion, to the investors referred thereto via SEZAD.