Wednesday 13 / August / 2025
Muscat: The Finance and Insurance Committee of the Oman Chamber of Commerce and Industry (OCCI), chaired by Mustafa bin Salman bin Ahmed, OCCI Board Member and Committee Head, discussed the latest developments regarding the unified insurance policy, which aims to standardize coverage and terms across insurance companies.
The meeting also reviewed the fees and charges imposed by banks on borrowers, stressing the importance of conducting a comprehensive study based on data and statistics from the Central Bank of Oman, particularly as around 80% of companies operating in the Omani market are classified as small and medium enterprises (SMEs). The meeting further examined the fees imposed by commercial banks on SME accounts.
The committee discussed a proposal to hold a joint seminar with the Oman Commercial Arbitration Centre to introduce the centre’s services and its role in resolving financial disputes through commercial arbitration. It also reviewed a proposal to organize a dialogue session to discuss financing challenges and personal loans that support the employment of Omanis in SMEs.
Additionally, the meeting considered a proposal for a training initiative for workers in the insurance sector, which would include short and long term programs, as well as a professional diploma in insurance.
