Muscat: Represented by the Commercial Franchise Centre, and in cooperation with the Development Bank, Oman Chamber of Commerce and Industry (OCCI) today launched a new financing product named 'Alama', in a bid to support franchises. The launch ceremony was held under the auspices of Faisal Abdullah Al Rawas, Chairman of the Board of Directors of Oman Chamber of Commerce and Industry.

According to Oman News Agency, 'Alama' product was the outcome of an agreement signed by the OCCI, represented by the Commercial Franchise Centre, in cooperation with the Development Bank. The agreement was signed on the sidelines of the Omani-Saudi Franchise Exhibition, which was organized by the OCCI in partnership with the Federation of Saudi Chambers in 2025 to lend financial support to project owners wishing to obtain the right to commercial franchise.

The launch of 'Alama' highlights efforts to promote entrepreneurship in the Sultanate of Oman and to enable owners of small and medium enterprises (SMEs) to enter the franchise sector.

The measure also seeks to minimize the rate of project failure by supporting projects with commercially-proven business models. It provides flexible financing that meets franchise requirements. It enhances institutional partnerships between the Development Bank and the OCCI with the prime objective of supporting economic diversification in line with the Oman Vision 2040.