Credit Oman's sales amount to $5.46bln

Muscat: Total sales of Export Credit Guarantee Agency of Oman (Credit Oman) since it was established till the end of 2019 amounted to OMR2.122 billion.

The total share of sales for exports stood at OMR1.844 billion while the total local sales amounted to OMR277.910 million. The total policyholders stood at 315 (243 policies for exports and 72 for local sales).

Sheikh Khalil bin Ahmed Al Harthy, Chief Executive Officer of Export Credit Guarantee Agency of Oman (Credit Oman) said that the Omani exports and products have received royal care and attention during the reign of late His Majesty Sultan Qaboos bin Said as the Omani exports and products remarkably contribute to diversification of the sources of the gross national income.

Khalil Al Harthy also added that Credit Oman was established by a decision from the Development Council during the year of the Royal Visit of late His Majesty Sultan Qaboos bin Said to Al Rusayl Industrial Estate in 1991.

“Credit Oman provides insurance cover to the Omani exporters and supports them to export their products, worldwide,” he said adding that it provides them with reliable information on purchase of their products abroad and compensates the exporters in cases of non-payment by the buyers.

Credit Oman has played a vital role by offering integrated services and support and has continued to develop to keep abreast of the world economic developments, he said pointing out that the Omani products have received the attention of other countries on account of high quality in the various industries. He said that the Sultanate of Oman has witnessed a qualitative shift in the logistics sector associated with airports, seaports, industrial estates and free zones during the reign of late His Majesty Sultan Qaboos, which enhanced the export of products and attracted investors to the Sultanate to invest, for instance, at the Ports of Duqm, Salalah and Sohar and the industrial estates in the Sultanate’s governorates.