Oman’s Sharakah launches first Shariah-compliant financing solutions

Oman’s SME development fund Sharakah has launched a suite of Shariah-compliant financial products targeted specifically at small and medium-sized enterprises.

Sharakah, established in 1998, provides financial and advisory support to SMEs across Oman. The introduction of Shariah-compliant financing forms part of its broader strategy to expand access to inclusive and responsible funding solutions.

In doing so, Sharakah has become the first SME-focused entity in the country to offer Islamic finance solutions. These offering includes four products, namely Murabaha, Ijara Muntahia Bittamleek, Musharakah Muntahia Bittamleek, and Wakala Bil Istithmar.

These products are structured to meet the diverse needs of SMEs while complying with Shariah principles. Furthermore, they were developed following a market assessment that identified a gap in Islamic SME financing, which has so far been dominated by commercial Islamic banks and Islamic windows.

The products have been reviewed and certified by M/s Eltizam Sharia Financial Consultancy, which also advised on the legal, technical, and operational structures to ensure full Shariah compliance.

Eltizam will continue to provide oversight and staff training as part of the ongoing implementation process.

Among the offerings, Ijara Muntahia Bittamleek allows businesses to acquire assets through a lease-to-own model, while Musharakah Muntahia Bittamleek enables Sharakah to co-invest in SMEs and transfer ownership over time.

Murabaha offers cost-plus financing, and Wakala Bil Istithmar allows SMEs to manage entrusted funds for investment purposes under Shariah-compliant terms.

The financing options are structured to accommodate both short- and long-term needs and offer flexible repayment plans.