Year - 2019

05/08/2019

Sharakah has recently won the 17th Excellence Website Award under the category of Banks & Financial Institutions in recognition for the best website. The Award was granted by the Pan Arab Excellence Award Academy in Dubai, UAE.
Pan Arab Web Awards is an encouragement for public and private sectors to showcase their websites to promote best practices of Information Technology in the Arab region and raise the standards of e-services and websites in the Arab countries.In addition, it promotes the innovative spirit of web designers to meet professional and international standards. and promotes intellectual and production opportunities, as well as to develop an interactive community that aims at providing recognition to this e-sector in the most superlative way.
This recognition was granted 28th of July 2019 in a gala ceremony held at Roda Al-Bustan Hotel – Dubai, UAE. The ceremony was attended by a large number of ambassadors and official figures in the area of information and senior representatives from different organizations in addition to representatives from government agencies, media outlets and other reputable guests.
Sharakah website was revamped and re-launched using the latest software and technologies. The website highlights Sharakah’s services and all activities, events and news. The website allows users and visitors to enjoy an easy and efficient browsing experience and navigate between different pages with ease and comfort.
Sharakah was nominated for the award based on number of key factors and shortlisted by a distinguished Arab and regional experts’ panel of judges in accordance with international norms and standards including: concept, creativity, content, consistency, functionality, structure, interface and visual design and aesthetics.
During the award`s ceremony, Zuwaina Al Bada’I, SME Delopment Manager said: " We are honored to receive this prestigious award from Pan Arab Excellence Award Academy .This award stands as a testament to our continuous commitment to improve and to deliver a high quality of services, and we thank the organizers of the award for recognizing our efforts as this motivates us to achieve more in the future."
01/07/2019
Sharakah participated in the 15th INSME (International Network for Small and Medium Enterprises) Annual Meeting in Naples, Italy. INSME is a non-for-profit association which strives to stimulate transitional cooperation and public and private partnership in the field of innovation and technology transfers to SME`s.
The meeting was attended by more than 100 members and participants from over 25 countries. The meeting discussed the latest trends in the fields of Fintech and Logistics and showcases the activities of several sectors that massively impacted by the financial digital technologies and solutions and offering opportunities for SMEs and entrepreneurs around the world.
As a Primary Member, Sharakah attended the annual meet and a presentation was made by Sharakah Team under “Global Best Practices for SMEs” and introduced its Business Performance Monitoring Tool (BPMT) which was developed by Sharakah in 2015 to monitor the progress of SMEs in a scientific and logical manner classified into 7 different categories. The presentation was jointly done by Mr. Dinkar Kishor, Deputy General Manager and Faris Al Harthy, Senior Project Specialist.

Commenting on this, Mr. Dinkar Kishor, Deputy General Manager of Sharakah said: “We are delighted to be part of this prestigious event as we believe that it’s a valuable opportunity to share our efforts, knowledge and experience in the field of SMEs with international organizations on developing the potential to become a game changer for SMEs that can benefit from various new products and services.”

During the meeting, Faris Al Harthy, Senior projects specialist said: “We thank INSME for this opportunity and we are keen to further strengthen the ties to provide efficient financial solutions by applying the best practices and tools to keep enriching entrepreneurship and SME development.”
01/07/2019
Sharakah participated in the 15th INSME (International Network for Small and Medium Enterprises) Annual Meeting in Naples, Italy. INSME is a non-for-profit association which strives to stimulate transitional cooperation and public and private partnership in the field of innovation and technology transfers to SME`s.
The meeting was attended by more than 100 members and participants from over 25 countries. The meeting discussed the latest trends in the fields of Fintech and Logistics and showcases the activities of several sectors that massively impacted by the financial digital technologies and solutions and offering opportunities for SMEs and entrepreneurs around the world.
As a Primary Member, Sharakah attended the annual meet and a presentation was made by Sharakah Team under “Global Best Practices for SMEs” and introduced its Business Performance Monitoring Tool (BPMT) which was developed by Sharakah in 2015 to monitor the progress of SMEs in a scientific and logical manner classified into 7 different categories. The presentation was jointly done by Mr. Dinkar Kishor, Deputy General Manager and Faris Al Harthy, Senior Project Specialist.

Commenting on this, Mr. Dinkar Kishor, Deputy General Manager of Sharakah said: “We are delighted to be part of this prestigious event as we believe that it’s a valuable opportunity to share our efforts, knowledge and experience in the field of SMEs with international organizations on developing the potential to become a game changer for SMEs that can benefit from various new products and services.”

During the meeting, Faris Al Harthy, Senior projects specialist said: “We thank INSME for this opportunity and we are keen to further strengthen the ties to provide efficient financial solutions by applying the best practices and tools to keep enriching entrepreneurship and SME development.”
06/05/2019
Al Omani Institute for Vocational Training signed an agreement recently with Sharakah to receive financial and advisory support for renovating and developing the institute. The institute is located in Al Qurum, and it’s specialized in vocational training and offers different courses and training programs in various fields.
The project is owned by Mr. Nasser Al Mughairi, an entrepreneur with over 30 years’ experience in financial audit and management consultancy. He is the founder and owner of Abu Timam Grant Thornton which is a member firm of Grant Thornton International, one of the leading organizations in accounting and consultancy services.
The institute offers over 160 training programs focused on Business and Management, Accounting and Finance, IT and Computing, Language and Communication, Soft Skills and Professional Training.
Speaking at the signing ceremony, Mr. Nasser Al Mughairi said: “We appreciate Sharakah’s efforts in supporting the SMEs in Oman, therefore, we have approached Sharakah to develop the institute and provide high quality services to our clients.”
Mr. Faris Al Harthy, Senior Project Specialist at Sharakah commented saying: “We confidently believe in the capabilities and expertise of Mr. Al Mughairy, he is one of Sharakah’s beneficiaries since 2014 and we highly appreciate his trust on the services provided by Sharakah.”
25/03/2019
Sharakah held its Annual General Meeting for the financial year ended 31st December, 2018 on 26th March, 2019 in Park Inn Hotel. The Meeting was presided by Mr. Said Al Sahib, Vice Chairman of the Board of Directors. The meeting was attended by Board Members, Shareholders, representatives of the Shareholders, Officials of concerned authorities, Representative from Deloitte, Lawyer and Sharakah staff.
Mr. Said Al Sahib started the meeting by welcoming the attendees and presenting Sharakah`s achievements during the last 20 years. He stated that the year 2018 was a challenging year for all sectors; undoubtedly, Sharakah too felt the effects. However, the small team at Sharakah, under the guidance of the Board, continued to support the SME sector in various ways. During the year around 70 applications were evaluated and more than 40 projects were supported whether by way of funding or handholding support.
“Since inception, Sharakah has served and nurtured the Omani SME community and has also been able to sustain itself and grow despite the challenging task of supporting ‘Startups’. Over a period of 20 years, we have supported more than 186 SMEs with investment exceeding OMR 6 million. We are proud to say that we have been able to stand by the letter and spirit of the mandate of our Royal Decree.” He added
Vice Chairman pointed out on the importance of having strong ties with other organizations supporting SMEs. Thus in 2018, Sharakah continued its efforts in supporting SMEs through various channels. The 4th Khazzan Project for SME Development supported by BP Oman was carried out during the year, providing intensive support to 24 SMEs for 12 months. Besides Khazzan, BP Oman entrusted Sharakah to conduct twelve “Calculate it Right” workshops in various governorates of the Sultanate, including Muscat, Ad Dakhiliyah, Ash Sharqiyah and Ad Dhahira which were attended by approximately 600 SMEs and College Students. Moreover, under their CSR initiative, National Finance Company joined hands with Sharakah to conduct ten “Calculate it Right” workshops across the country which benefited 320 SMEs.
Mr. Said Al Sahib further talked about Sharakah’s financial performance for the year 2018 and implementation of IFRS 9. He mentioned that for calculating the financial impact under IFRS 9, we appointed PWC as our consultants. The IFRS 9 related impairment and other mostly non-cash expenditures have adversely affected our financials in 2018.
Mr. Said Al Sahib concluded by conveying his gratitude to His Majesty Sultan Qaboos bin Said for his guidance and for placing greater emphasis on the development of Omani Youth, driving them towards community and economic development. He also thanked the shareholders for their continues support.
20/03/2019
Sharakah conducted yesterday an interactive Orientation workshop about Istidama program for the SMEs at the office of Sharakah. The workshop was attended by representatives from HSBC Bank Oman and Destination Sustainability along with the selected SMEs.

The Istidama Program is an exceptional SME Sustainability program that will examine the performance of the projects and implement the core subjects of the corporate social responsibility. The program, supported by HSBC Bank Oman is a strategic commitment adopted by the bank in supporting sustainable growth through entrepreneurship and development.
A total of 154 applications were received for the Istidama SME Sustainability Program. The online registration which closed on 24th of February, 2019 had been running for a period of one month. The bilingual online registration form was accessible to SMEs from all governorates.
The 154 applications received were filtered based on certain criteria shared on the website. They included: giving preference to businesses that have completed at least one year since operation, the accuracy and authenticity of the information provided about the business
It is observed that among the fully completed applications, approximately 15% represent the Manufacturing Sector, 51% in the Service sector, and 34% Trading Sector.
Istidama program uses Sharakah’s inhouse developed and tested Tools named the Business Performance Monitoring Tool (BPMT) that aims to assess the selected ten SMEs in seven main categories: administration, marketing, communication, quality, general policies, financial and Human Resources. The program will also analyze and recommend solutions in the core subjects of corporate social responsibility and sustainable environment, social and economic development. The purpose of the orientation workshop is to explain to the selected candidates about the process that they go through as part of the program, the responsibilities, the timeframe and the potential outcomes.
Faris Al Harthy, Senior Project Specialist further commented: “We are delighted to implement this program in partnership with Destination Sustainability, where we aim to identify the areas of improvements for the SMEs through a detailed evaluation in order for the owners to bring their businesses to new heights”
10/03/2019

Many economic sectors at the Sultanate have witnessed notable development during the last years. The most important sector is the constructions sector due to many factors the most important of which is the population growth, which has led to an increased demand for housing units, and the development of many economic sectors causing a rise in the number of establishments. There is no doubt that the growth of the construction sector is associated with demand for electricity services. The most important of these services are cabling, establishment of substations, and the extension of distribution lines and electricity connections to buildings.
Energy Pioneers Company (EPCO) aims to contribute to promoting the national economy, in addition to providing its best endeavors in the electrical energy field, raising the level of work performance and providing high-quality services. EPCO seeks to support small and medium enterprises (SMEs) through providing guidance, purchasing their products, and assigning direct projects to them. In addition to training the business pioneers and setting commercial programs benefiting students at the university level or the level of general diploma. As well as contributing to social responsibility and voluntary work.
The number of projects assigned to EPCO reached 178 with a value of more than 1 million and 120 thousand Omani Rial. EPCO executed successfully several projects including; installing lights for Ibri – Dhank Street at Al-Dhahirah Governorate, providing ground cabling at Duqum Airport and installing electricity poles for million palm trees project. EPCO has won the annual Riyada Entrepreneurship award as the best medium service organization for the year 2014.
” EPCO was selected as one of the projects that benefited from the Khazzan Project for SME Development, which is one of BP Oman Social Investment Programs. Thehe program is managed and implemented by Sharakah,” said Faris Al Harthy, Senior Projects Specialist
Omar Al-Abri, founder of EPCO, expressed his gratitude to BP Oman for the Khazzan project, and for Sharakah for guiding the projects. “The program helped in developing the company performance, the specialists evaluated our projects and set the enhancement potentials from marketing, financial and administrative aspects, and raise work efficiency in a remarkable way. The financial support from Khazzan Project for SME Development helped the company in developing its trademark and porches materials necessary to expand its services,” he said.

11/02/2019

Green Line Training Institution signed an agreement recently with Sharakah to receive financial and advisory support for the set-up of a vocational training center in Boushar, with the purpose of Training for Employment for Omani Job-Seekers, granted with a job contract post-training in the manufacturing industry. The center provides training in the areas of Machine Operating and Machine Maintenance.
Speaking at the signing ceremony Mr. Ahmed Al Rashdi, the promoter of the business commented: “We are delighted to have signed this agreement with a professional organization as Sharakah to assist us in setting up the Institution. The market shows good potential for our training services, we are looking forward to grant our trainees with the best quality of teaching both theoretical and practical.”
Ms. Sahar Al Lawati, Senior Investment Analyst at Sharakah further commented: “We find potential in this Institution and we believe the Omani trainees will benefit of such services to enter the job-market. The institution has benefited from Sharakah’s Financial Support and will also be granted with our consultancy services to ensure the professional performance and continuity of the project.”

In 2018, Sharakah has supported 6 SMEs Financially and 35 SMEs benefited for the Consultancy Support. These SMEs are from different Governorates and in different sectors. Our objectives remain in ensuring the sustainability of the businesses we support and we aim to be the SME development organization that everyone is proud to be associated with.
10/02/2019

Registration is still open for Istidama Program for SME Development. More than 70 applications have been received until date and we welcome more people to register. The program falls under HSBC Bank Oman’s focus on Entrepreneurship within its Corporate Sustainability Program. The program aims at evaluating the performance and the sustainability plans of the selected SMEs and draw a plan for improvement over a period of 6 months. Istidama program is managed and implemented by Sharakah in partner with Destination Sustainability in assessing the sustainability aspects of the business.
The objective of the program is to select 10 SMEs from all over the Sultanate, assess their performance and guide them towards applying best practices to sustain and grow.
Zuwaina Al Badaa’i, SME Development Manager at Sharakah further commented: “We encourage SMEs to take the first step towards sustainability of their businesses by enrolling in the Istidama program. The scope of this program includes identifying areas that need further improvement.”
According to Nabiha Al Mandhari, Marketing Specialist at Sharakah “Registration is still open and we are welcoming SMEs from all governorates. We have a two steps registration process via the registration form: http://hsbc.sharakah.om. Those who are interested to know more can also contact us in our social media platforms or though calling/visiting. It is worth mentioning that the last date for registration in the Istidama program is 28th February 2019”
01/02/2019

Salasel Electric Services (SES) is one of the growing industrial companies that benefited from Khazzan Project for SME Development. SES was established in 2011 in the wilayat of Manah at Ad-Dakhiliyah Governorate. It started as a small establishment in electric industries. The company operates with specialists in various sectors such as manufacturing, supply, technical support, design, and others. SES core work is to manufacture a variety of electricity distribution panels, low voltage switches and semi-substations using advanced technology.
Khazzan Project for SME development is one of BP Oman’s social investment programs. The program objective is to evaluate the performance of SMEs and propose areas for business improvement including risk management, developing cash flow, and setting a marketing plan. In its fourth edition, 24 SMEs, whose performance was evaluated over a 12-month period, have joined the program.
In alignment with technological development, SES was keen to update its capabilities in order to provide high-quality products and services. SES has a great ability to compete with other companies in the field with the technologies of its international partners, in addition to an experienced design team. It also provides excellent effective services for customers in government entities and big companies working in different sectors like power, water, education, gas, constructions, industries, and other sectors.
SES succeeded at creating a successful partnership with the British company (Dorman Smith) and signed an agreement to be the sole representative in the Sultanate, to market, assemble, and manufacture the company’s low voltage products according to a mutually agreed plan, with a plan to work on the medium voltage in the near future. SES has also entered into a partnership with another international company, which is (Electro bar),Egyptian company. The partnership was entered into in 2018 in order to market a rare product used in the biggest construction projects. It is called base duct, which is a prefabricated copper rod. This partnership is the strongest and biggest in SES history due to the two companies’ position in the market.
It is worth mentioning that SES was able to register and certify its products in all government entities like the Ministry of Education and the Ministry of Oil and Gas. With these achievements and services, SES has made a great development with its qualified Omani personnel and modern technology .
In regards to the future directions and plans of the company, Mr. Bader Al Tobi, founder of SES, said: “We aspire in SES to draw a plan to reach an Omanization percentage of 60% by 2025. We also plan to expand our workshops and open additional production lines to meet customer needs.” Being supported by Khazzan Project, Mr. Bader Al-Tubi expressed his gratitude for the support saying: "We joined Khazzan Project for SME Development to develop my project performance by obtaining advisory and financial support. We have received great attention from Sharakah by guiding and supporting me in upscaling my project. We benefited greatly from the support and consultancy provided by the specialists in the fields of entrepreneurship, accounting, marketing, and other important areas to ensure the success and continuity of the project. We would like to extend our thanks to BP Oman for supporting SMEs. We have benefited from their financial support in providing necessary equipment and devices to develop the project.”
28/01/2019
Sharakah inked a cooperation agreement yesterday at HSBC Bank Oman’s Headquarters to assess and provide support for sustainability to 10 Small and Medium Enterprises (SMEs). The agreement was signed by Mr. Andrew P Long, CEO of HSBC Bank Oman and Mr. Hani Al Zubair, Chairman of Sharakah.
The SME Sustainability Program falls under HSBC Bank Oman’s focus on Entrepreneurship within its Corporate Sustainability Program. The program aims at evaluating the performance and the sustainability plans of the selected SMEs and draw a plan for improvement over a period of 6 months. An SME startup, Destination Sustainability, will partner with Sharakah in assessing the sustainability aspects of the business.
Speaking at the signing ceremony Mr. Andrew Long said: “Our partnership with Sharakah comes in line with our Corporate Sustainability strategy for 2019, as we aim to contribute to enhancing the role of SME’s in the economy. Given Sharakah’s expertise in funding and developing SMEs, we believe it is going to be a fruitful partnership and the joint association will have a positive impact on the selected SMEs."
Mr. Hani Al Zubair, Chairman at Sharakah further commented: “Sharakah is honored to be associated with HSBC Bank Oman in conducting the SME Sustainability Program in order to make the SMEs sustainable and ultimately benefit the community. We look forward to a continued joint collaboration for serving the Omani SME community”.
The applications received will be filtered based on specific criteria shared on Sharakah’s website. They include: giving preference to businesses that have completed at least one year since incorporation, the accuracy and authenticity of the information provided about the business, and SME owners to be Omanis and fully dedicated to the project.
Existing SMEs from all governorates are invited to register to the program online at http://HSBC.Sharakah.om. After registration, Sharakah will screen the applications and shortlist ten eligible SMEs to undergo the sustainability program that will focus on the following functions: Administration, Human Resources, Branding, Marketing, Finance, Quality and Applying Best Practices.
The online Registration opened on January 28th, 2019