SEZAD signs agreement with Bank of Beirut

March 07, 2019

The Special Economic Zone Authority at Duqm (SEZAD) signed a memorandum of understanding (MoU) with Bank of Beirut in Oman to provide banking options and facilities to the investors willing to invest in the Special Economic Zone in Duqm (SEZD).

Dr Ismail bin Ahmed al Balushi, deputy CEO of SEZAD signed the MoU with Elie Nakouzi, CEO of Bank of Beirut-Oman, according to a press release.

The signing of MoU is part of the ongoing efforts exerted by SEZAD to help investors obtain funding required to implement their projects in SEZD.

SEZAD previously signed several MoUs with the commercial banks and their Islamic windows. Through the signing of the memorandums of understanding with the local banks, SEZAD endeavors to attract investors to invest in SEZD.

As per the agreement, Bank of Beirut will provide many services to the investors including cooperate banking facilities, finance options of all kinds, advances, term loans, advances against credit instruments, advances against receivables, real estate loans and financial and investment consultancy services. Moreover, the bank will provide special options to SMEs.

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