Sharakah, Oman’s leading SME development company, has signed a memorandum of understanding (MoU) to provide Anfal Industries & Trading Company SPC, an Omani-owned manufacturer and distributor of industrial, cleaning, and laboratory chemicals, a Shariah-compliant financing facility to support its working capital requirements.

Anfal Industries & Trading operates in the industrial manufacturing and trading sector, producing and supplying a wide range of specialised chemical products. The company, established in 2016, serves key industries including oil and gas, water treatment, and food processing, supporting essential operational and safety requirements across these sectors.

The funding will strengthen the company’s ability to manage procurement, enhance inventory capacity, and meet increasing demand from industrial clients across the Sultanate.

Ali Ahmed Muqaibal, Chief Executive Officer of Sharakah, said: “Our partnership with Anfal Industries & Trading Company SPC reflects Sharakah’s commitment to supporting Omani manufacturers operating in strategic industrial sectors. The Shariah-compliant working capital facility will enhance the company’s operational resilience and contribute to strengthening local industrial supply chains.”

Salem Said Al Satmi, Founder of Anfal Industries & Trading Company, commented: “Sharakah’s support provides us with the financial flexibility required to scale our operations and serve our clients more effectively. The working capital facility enables us to maintain consistent supply, invest in production efficiency, and reinforce our position within Oman’s industrial chemicals market.”

This agreement reinforces Sharakah’s mission to empower SMEs through Shariah-compliant financing, supporting Oman’s industrial growth and economic diversification, a statement said. – TradeArabia News Service