Central Bank Circular No. BM1141/2016 Small and Medium Enterprises (SMEs)

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To: All Licensed Banks

Operating in the Sultanate of Oman

After Compliments,

Sub: Small and Medium Enterprises (SMEs)

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1. Reference is invited to Circular BM 1108 dated 6th May 2013.

2. Banks shall, henceforth, be guided by the following criteria as regards definition of SME, provided by the Public Authority for Small and Medium Enterprises Development-vide its Decision 1/2016 dated 4th January 2016.

Category

Number of Employees*

Annual Turnover*

Micro Enterprises

1-5

Less than RO 100,000/-

Small Enterprises

6-25

Between RO 100,000/- and less than RO 500,000/-

Medium Enterprises

26-99

Between RO 500,000/- and less than 3 million

3. All licensed banks shall be guided accordingly, availing the revision and enhancing their financial and non-financial assistance to the SME segment - noting that 5% fund-based credit target remains in force and further decision, on review, will be conveyed separately.