Credit Oman Introduces Payment Insurance

Credit Oman has launched a payment insurance policy designed to support Omani importers in transactions requiring advance payments to overseas suppliers. The policy aims to protect these payments from the risks of supplier default or inability to fulfill their commitments, thereby strengthening confidence in contractual agreements and increasing flexibility for Omani companies in importing and expanding. This step is part of efforts to boost the non-oil economy, enhance supply chain efficiency, and promote increased local production and non-oil exports. Notably, the approved credit limits reached approximately 226.6 million Omani rials by the end of the first half of the year.