Development Bank in Al Buraimi Governorate: Development Loans Worth OMR 2.7 Million by the End of 2025
Development Bank in Al Buraimi Governorate: Development Loans Worth OMR 2.7 Million by the End of 2025
16 August 2026
The total value of loan approvals at the Development Bank’s Al Buraimi Governorate branch reached approximately OMR 2.7 million in 2025, through 170 development loans aimed at supporting the national economy. The financing contributed to funding projects with high investment returns and encouraging self-employment initiatives by providing a range of facilities and innovative financing solutions tailored to the needs of various business segments, from micro-enterprises to large companies.Yahya bin Rashid Al Riyami, Manager of the Development Bank’s Al Buraimi Governorate branch, said that the branch approved around 170 loans worth OMR 2.7 million during 2025. He noted that the loans covered micro, small, and medium-sized enterprises, as well as operational and seasonal financing.He added that the loans were distributed across several sectors, including manufacturing, agriculture and livestock, industry, education, healthcare, tourism, logistics, and home-based businesses.Al Riyami pointed out that the loan portfolio of the bank’s Al Buraimi branch had grown to more than OMR 7 million, representing an increase of 15% compared with 2024.Hamdan bin Rashid Al Issai, owner of Lotus Oils Factory, said that the Development Bank has been a key partner in the factory’s success since its establishment in 2014. The bank initially provided OMR 200,000 in start-up financing, followed by OMR 60,000 in working capital financing. He also highlighted the bank’s continuous field follow-up to assess the requirements of each stage of the business’s development.Al Issai explained that following the expansion of the business and improvements in product quality, financing of OMR 245,000 was approved in 2025 for another project focused on lubricants, enabling it to become one of the leading projects of its kind in the Sultanate of Oman. The project also received an additional OMR 100,000 in working capital financing to enhance its production capacity and meet the needs of local and international markets.In his remarks to the Oman News Agency, Al Issai emphasized that this financing has directly contributed to creating more employment opportunities, increasing in-country value, and strengthening the ability of Omani products to compete and be exported to international markets. He also commended the Development Bank’s integrated role in supporting national industries and advancing sustainable economic diversification.
