Boosting Domestic Trade
Since its establishment in 1991 as the Export Guarantee Financing Unit (EGFU), Credit Oman has been a key player in fostering domestic trade. By providing credit insurance and other trade-related services, Credit Oman has helped businesses in Oman mitigate risks and enhance their competitiveness in the local market.
With the support of Credit Oman, companies in Oman have been able to confidently extend credit terms to their customers, ensuring smoother business transactions and fostering stronger relationships. By protecting businesses against the risks of non-payment, Credit Oman has encouraged increased trade activities within the country, promoting economic growth and job creation.
Driving Export Success
Credit Oman has been instrumental in catalyzing exports from Oman to regional and international markets. Through its role as the national export credit agency, Credit Oman offers comprehensive export credit insurance and guarantees that protect Omani exporters against the risks of non-payment by overseas buyers. This coverage empowers exporters to explore new markets, expand their customer base, and increase their export volumes.
With the reassurance of Credit Oman’s support, Omani exporters can confidently extend credit terms to their overseas buyers, leading to improved competitiveness in the global marketplace. By reducing the financial risks associated with international trade, Credit Oman has played a crucial role in boosting Oman’s overall export performance and contributing to the diversification of the economy.
Contributing to Oman’s Economic Development
Credit Oman’s continuous efforts in facilitating domestic and export trade have made a significant impact on Oman’s economic development. By providing trade finance solutions and promoting credit insurance, Credit Oman has created an enabling environment for businesses to thrive.
The economic benefits resulting from Credit Oman’s interventions are manifold. The increased trade activities boost revenue generation, create employment opportunities, and stimulate economic growth. Moreover, by encouraging diversification into new markets, Credit Oman contributes to reducing Oman’s dependency on traditional sectors, ensuring a more resilient and sustainable economy.
