INMA [SME Development Fund] Expands their Financial Product offerings with the Launch of INMA Retail Finance-Masar Auto Finance & Mazaya Consumer Finance

Marking a new chapter in its evolution, INMA [SME Development Fund] expanded their offerings by launching their Retail Finance, introducing two new brands, Masaar, the Auto Finance and Mazaya, the Consumer Finance, to provide salaried individuals in the Sultanate with convenient financing solutions for vehicles and a wide range of personal needs.

The launch was graced by His Excellency Sultan bin Salim Al Habsi, Minister of Finance, in the presence of Mr. Haitham Al Salmi, Chairman, INMA along with all the board members, Heads of all the leading Banks in Oman and other dignitaries at the Ball room of Tivoli Hotel, Muscat

The launch extends INMA [SMEF]’s longstanding experience in financing Oman’s entrepreneurial and SME ecosystem into the retail finance segment, responding to changing customer expectations and the growing demand for financial services that are convenient, simple and fully digitally enabled.

While Masaar Auto Finance offers financing for new and pre-owned vehicles, Mazaya Consumer Finance caters to personal needs including buying electronic items, furniture, jewellery, healthcare needs, travel needs and other requirements. The offering also incorporates Islamic Finance, providing customers with wider financing options for their needs.

Commenting on the launch, Sheikh Salah Hilal Al Maawali, Chief Executive Officer, INMA [ SME Development Fund] said: “INMA Retail Finance options represents an important step in the evolution of INMA [SME Development Fund] and our commitment to serving the growing financial needs of society in Oman. Moreover, our offerings are also aimed at the younger generation who are seeking more digitized environment. Through our offerings in Masaar and Mazaya, our aim is to create a financing experience that removes unnecessary complexity, gives customers greater choice and uses technology in ways that genuinely make their lives easier.

INMA demonstrated the product offerings live, Realtime on stage to share the experience of easy and simple journey for any customers, with the new technology for their product offerings. AI-enabled functionality can read information from the Civil ID and populate relevant application details, reducing manual entry and streamlining the application process. Subject to applicable eligibility and credit criteria, the platform can provide a credit decision in around 30 seconds, helping customers move from application to decision with greater efficiency.

INMA is also bringing financing closer to the point of purchase through its network of associate partners. Customers visiting participating car dealerships and consumer retail locations can scan a dedicated QR code to explore available financing options, view estimated monthly instalments and request a callback, with INMA aiming to contact customers within 24 hours of submitting a request. Its collaboration with Digital Mall further integrates product discovery and financing, enabling customers to explore cars and consumer products and access financing options through the same digital journey.

While supporting the SME of Oman, Sheikh Salah introduced, INMA’s partner, Digital Mall who has also developed a digital souq for experiencing purchase of cars to consumer durable items while sitting at home or anywhere.

Mr Ahmed Azri, CEO of Digital Mall showcased their Digital Mall which enables any customer to chose any car, new or pre-owned, other items with finance options from INMA sitting at home or anywhere.

This Sheikh Salah says while such offerings were there in the market for quite long but we wanted to give our customer a different experience by embracing technology and by providing wider options. While INMA have Branch offices in Salalah & Sohar, but will offer their products through all channel partners network and also through alternate channels viz. INMA phone app, INMÁ website along with walk-in customers at their offices.