Thursday, 21 Jan 2021
Muscat Finance (MF), represented by chairman Faisal bin Mohamed al Yousef, extended support for research and innovation at Sultan Qaboos University (SQU) by offering a contribution to the university’s newly established Innovation Fund.

Muscat Finance supports analysis, innovation at SQU

The SQU Innovation Fund, managed by SQU’s Innovation &amp Technology Transfer Centre, is a single of the university’s initiatives that seek to location analysis and innovation at the extremely center of SQU’s strategy to teaching and coaching, and neighborhood engagement. The fund supports advancement in these locations by offering different types of help for SQU students, faculty and employees to engage in projects that have the prospective to boost revolutionary approaches in strategic social and financial locations.

Dr Rahma al Mahrooqi, deputy vice chancellor for Postgraduate Studies and Research, mentioned, “Both SQU and Muscat Finance have a strong commitment to supporting innovation and research as drivers of sustainable development within the sultanate. The university has the infrastructure and processes in place to ensure that its student and staff’s innovative efforts and research outputs can be successfully transformed into the products, processes and knowledge that drive social and economic transformation. It is these innovative outcomes that lead to start-ups and new enterprises that are amongst the most important drivers of economic transformation, diversification, and job creation. One example of SQU’s achievement in these areas is the recent establishment of the Innovation & Technology Transfer Centre, along with the Innovation Fund which the center manages.”

Yousef mentioned, “Muscat Finance has usually believed in providing back to the neighborhood, which stems from its powerful belief that MF has been effective since of the prosperity of the neighborhood beneath which it operates and providing back is element of its main duty. Muscat Finance believes that the economy can prosper by getting the correct Education at all stages, such as the a single becoming provided at SQU. We are living in a dynamic globe, exactly where becoming revolutionary is the only choice for survival.

“After all, innovation and research are the tools with which our country will continue to prosper and progress. We hope that the Innovation and Technology Transfer Centre will incubate a number of enterprises that become vibrant SMEs and contribute to the growth of the economy not only through increasing its contribution to the Gross National Product, but also as creators of employment opportunities. Muscat Finance is committed to the development of SMEs both through the direct funding option as well as through contributions such as these.”

Incorporated in 1987, Muscat Finance is the sultanate’s initial finance business that has been licensed beneath the Banking Laws as a Non-Banking Finance Company. In an eventful existence spanning a lot more than 30 years, Muscat Finance has pioneered the ideas of Car Finance, Hire-Purchase, Leasing, Consumer Durable Financing, Debt Factoring and Working Capital Financing in the ever-expanding marketplace in Oman. The business has an in depth network of branches, covering all regions of the sultanate.

The SQU Innovation Fund is an essential avenue whereby organisations across the nation can straight contribute to Oman’s analysis and revolutionary activity. The fund, according to the deputy vice chancellor, adopts a multifaceted strategy to supporting innovation and transforming analysis output into prototypes, goods and processes that have the prospective to boost financial competitiveness and social improvement. These approaches contain by supporting analysis projects in locations of strategic value for the nation, building analysis capacity and infrastructure, advertising innovation across analysis and teaching, and guaranteeing that the university’s analysis and revolutionary efforts provide direct advantage to the neighborhood.

It is via such cooperation in supporting youth analysis and innovation that the Innovation Fund guarantees that Oman effectively realises its improvement targets. Dr Rahma concluded that the nation will be in a position to effectively reap the rewards of financial transformation although playing an essential function in a competitive globe.

Information Source: Muscat Daily

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