Law Updates

SMEDA Issues New SME Financing Regulation

The Small and Medium Enterprise Development Authority (SMEDA) published in this week’s issue of the Official Gazette a new SME Financing Regulation that replaces the SME Financing Regulation of 2022.

The new regulation removes the cap of 250,000 Rial Omani for financing a specific project; removes the 55 years age limit for individuals seeking financing; increases the threshold for imposing administrative fees so that SMEDA is permitted to impose such fees only in regard to borrowed amounts exceeding 20,000 Rial Omani (this was 5,000 Rial Omani under the previous law); and removes the single-time restriction for receiving supplementary financing for the same project so that it is now possible to top-up the amount borrowed multiple times.

This new regulation enters into force tomorrow. You can read it in full in English on the link below: