Development Bank Approves OMR2.7 Million in Loans for Al Buraimi

The Development Bank's branch in Al Buraimi Governorate has approved approximately OMR2.7 million in loans during 2025, supporting the local economy through 170 development loans. These funds are intended to finance high-yield investment projects and encourage self-employment initiatives.

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Loan approvals at the branch during 2025 totalled approximately 170 loans valued at OMR2.7 million. He noted the diversity of these loans, which encompassed micro, small, and medium-sized enterprises, in addition to operational and seasonal financing facilities.

Yahya Rashid Al Riyami, Director of the Al Buraimi branch, confirmed that the approved loans covered a diverse range of needs, including micro, small, and medium-sized enterprises, as well as operational and seasonal financing. The loans have been distributed across various sectors such as manufacturing, agriculture, livestock, industry, education, health, tourism, logistics, and home-based businesses.

Al Riyami highlighted the growth in the bank's lending activities, noting that the total portfolio in Al Buraimi has now surpassed OMR7 million. This represents a significant 15 percent increase compared to the lending figures from 2024.

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These loans are distributed across multiple sectors, including manufacturing, agriculture, livestock, industry, education, health, tourism, logistics, and home-based projects.

The bank achieved this by offering a suite of facilities and innovative financing solutions designed to meet the diverse requirements of different business segments, from small startups to larger corporations, thereby stimulating economic activity within the governorate.

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The branch's lending portfolio has surpassed the OMR7 million mark, reflecting a 15 per cent increase compared to 2024.