Muscat Finance Office

PROFILE First NBFC in the Sultanate of Oman. Established in Oct 1987, under the leadership of HE Dr. Omar Zawawi. Muscat Finance pioneered vehicle financing and enabled a significant retail and corporate penetration of Vehicle financing. Subsequent Developments Later, ventured into heavy Consumer Goods Financing and Equipment Leasing. Pioneered the concept of Debt Factoring in the Sultanate and the Middle East in 1996. Pioneered the concept of Payment Gateway as the first finance company in the Sultanate using this service Dear Shareholders, On behalf of the Board of Directors of Muscat Finance (SAOG), I am pleased to present the report for the period ended Mar 31, 2020. Business Results The Company recorded net profit of RO 439K for the period ended Mar 31, 2020 against RO 370K net profit for the corresponding period in the previous year. However, there was an adverse judgement issued by the Supreme Court in one of the legal cases. While the company has submitted its review petition in Supreme Court against the judgment, the Company’s Management and Board of Directors have decided to fully absorb the loss related to this adverse judgment in the financial statement of Mar 2020. As a result, the company has declared a net loss of RO 1,380K for March 2020