Sharakah
Omani SME development company set up by Royal Decree in 1998 that provides Shariah-compliant financing, advisory services and incubation to small and medium enterprises.
Industry: SME financing and development | Location: Muscat, Oman | Founded: 1998
About Sharakah
Sharakah is an Omani small and medium enterprise development company based in Muscat. Its website says it exists to support Omani entrepreneurs through financial and advisory solutions and capacity development. Its office is in the Business Tower at Muscat Hills, Airport Heights, Al Seeb.
Sharakah was established in 1998 by Royal Decree No. 76/98 as a closed joint stock company. Its website lists 62 shareholders, among them OMINVEST, the Social Protection Fund, Bank Muscat, National Bank of Oman and the Oman Chamber of Commerce and Industry, and gives no ownership percentages. Hani Mohammed Al Zubair chairs a seven-member board with Maryam Al Balushi as vice chair. Ali Ahmed Muqaibal became chief executive in October 2022; his appointment notice says he holds a degree from Arizona State University and an MBA from INSEAD and previously worked at organisations including Shell Oman Marketing, Occidental Oman and Oman Oil Company.
The company describes five pillars: financial solutions, entrepreneurship advisory and tools, capacity building, corporate and strategic partnerships, and promotion of an entrepreneurship culture. Its website shows financing of up to OMR 350,000 over 12 to 72 months as an indicative range. Its timeline records the launch of loan and bill discounting in 2008, corporate partnership programmes in 2015 and Shariah-compliant financing in 2016.
In June 2026 Sharakah gave Zameeli, an Omani freelance marketplace, a Shariah-compliant financing facility of undisclosed size, according to Wamda. Its website announced a memorandum of understanding with Anfal Industries and Trading Company, including an OMR 50,000 working capital facility, and another with Ocean of Majan International Commercial Services on packaging manufacturing. It also runs the SME Growth Programme with National Finance.
Sharakah's website states that it has funded 144 projects, invested more than OMR 15 million and helped generate more than 12,250 jobs, without dating those totals. No financial statements appear on the pages read.
On 22 June 2026 Sharakah announced that the first edition of its VC999 Incubation Programme had concluded. Future editions are to run separate startup and SME tracks focused on IT, cybersecurity and green businesses.
Leadership
- Ali Ahmed Muqaibal, Chief Executive Officer
- Hani Mohammed Al Zubair, Chairman
- Maryam Al Balushi, Vice Chairperson
- Rashad Jaffar Al Shaikh, Director
- Qais Mahmood Al-Khonji, Director
- Hassan Abdul Amir Shaban, Director
- Malvika Khimji, Director
- Rashad Ali Al Musafir, Director