Muscat: The Authority for Small and Medium Enterprises Development (ASMED) has today convened the inaugural discussion panel, scheduled for 2024, featuring a group of entrepreneurs who have availed themselves of the Authority's "Al Azm" financing programs.
The panel, titled "Prospects for Financing Small and Medium Enterprises," was designed to shed light on the principal challenges encountered in the funding processes of small and medium-sized enterprises (SMEs).
The discussion delved into strategies to enhance the efficiency of financing procedures and expedite the endorsement processes, aiming to refine regulations governing financing services. This initiative is considered essential for streamlining and accelerating the procedures, thereby reducing the waiting period for entrepreneurs. Furthermore, it seeks to broaden access to financing opportunities and develop financing mechanisms that are more adaptable to the diverse needs of entrepreneurs.
By the conclusion of June 2024, ASMED had approved a total of 312 applications, amounting to OMR30,724,662.
