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Oman Business News

Madayn, Al Raffd Fund sign cooperation agreement

A cooperation agreement was signed on Tuesday between the Public Establishment for Industrial Estates (Madayn) and Al Raffd Fund within the scope of Madayn’s Masar Investment Window project. The agreement was inked by Hilal bin Hamad al Hasani, CEO of Madayn, and Tariq bin Suleiman al Farsi, CEO of Al Raffd Fund.

The agreement comes within Madayn’s framework of signing a set of cooperation agreements with a number of bodies in Oman, in implementation of the Royal Decree no. 32/2015 promulgating the system (law) of the Public Establishment for Industrial Estates (Madayn). The provisions of the Royal Decree state that after the approval of the Council of Ministers, Madayn’s Board of Directors shall designate sites within Madayn-affiliated industrial cities for the bodies concerned with provision of necessary services to licensed investment activities. This shall include the services related to issuing licenses, approvals or visas, registration of activities or other services.

The cooperation agreement between Madayn and Al Raffd Fund aims at facilitating the services offered through Madayn’s Masar Investment Window. The agreement seeks to simplify the services for the targeted segments within the e-government efforts as well as to benefit from the services and incentives offered by Al Raffd Fund’s Sanad Centres. Based on this agreement, Al Raffd Fund shall offer its services to Madayn’s clients, which will enable the clients to complete transactions through the electronic portal and get access to information related to the technical cooperation.
The agreement also grants Al Raffd Fund the right to offer ‘new investment application’ service through entering the application on the electronic portal of Sanad Centres and completing transactions through Masar Investment Window when necessary.

This agreement comes along the lines of Madayn’s efforts to develop its Masar Investment Window, which aims at providing integrated services offered by Madayn as well as the services provided by other government bodies through a unified governmental platform for data exchange and completion of procedures. Masar aspires to offer a flexible, easy and transparent interaction between the business community and the government, and provide a reliable and secure environment for the companies to conduct day-to-day transactions with the concerned bodies.

Masar Investment Window is part of the constant efforts of Madayn to provide an ideal investment environment in the Sultanate. It is worth mentioning that Madayn formed its Communication and Investor Services Centre to provide a supportive investment environment and achieve highest level of customer satisfaction through building a strong CRM system, and addressing the obstacles the investors may face in cooperation with other related government bodies. The Communication and Investors Services Centre is equipped with cutting-edge tools and its representatives have been effectively trained to respond to enquiries and complaints and provide required information to the current and potential investors.
  • Madayn
  • Al Raffd Fund
  • Masar Investment Window
  • Licenses
  • Approvals
  • Visas
  • Oman
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