Interview: Abdullah Al Salmi To what extent can capital markets contribute to the diversification goals of Oman Vision 2040? ABDULLAH AL SALMI: Capital markets are pivotal in financing economic diversification under Oman Vision 2040. We have seen significant progress in recent years in channelling funds from the capital markets to help support economic projects, with financing provided by…
Interview: Faisal Al Farsi What is the current state of the insurance and social protection sector following recent restructuring? FAISAL AL FARSI: Oman’s insurance and social protection sector has undergone a significant realignment to improve efficiency and accessibility. The industry was fragmented, leading to inefficiencies and a lack of cohesive coverage. The July 2023 merger shifted…
Interview: Abdulaziz Al Balushi How are capital markets well positioned to attract investment both regionally and internationally? ABDULAZIZ AL BALUSHI: Oman’s capital markets are distinguished by attractive valuations and a strong growth trajectory, bolstered by improved credit ratings that have boosted investor confidence. The Financial Services Authority (FSA) has implemented progressive…
Interview: Khaled Al Balushi In what ways have financial technology (fintech) and digital banking trends influenced opportunities for investors within financial services? KHALED AL BALUSHI: The financial sector is undergoing a significant digital transformation, driven by a fintech framework designed by the Central Bank of Oman (CBO) to foster innovation. One key indicator of this shift…
Interview: Abdulsalam Al Murshidi What drivers have helped boost Oman’s investment appeal within the region and beyond? ABDULSALAM AL MURSHIDI: Oman’s investment attractiveness has improved in recent years, driven by strategic initiatives under Oman Vision 2040, which aim to diversify the economy beyond oil and gas. Sectors such as logistics, manufacturing, mining, renewable energy and…
Interview: Sheikh Waleed Khamis Al Hashar How is the banking sector adapting to promote economic diversification and sustainable growth? SHEIKH WALEED KHAMIS AL HASHAR: Banks in Oman are developing strategies to support the sultanate’s economic diversification and foster sustainable growth. This shift is driven by Oman Vision 2040, the long-term development strategy to create a more balanced…
Interview: Khalid Jamal Al Kayed How do you see the banking sector’s role evolving to support the long-term economic diversification efforts outlined in Oman Vision 2040? KHALID JAMAL AL KAYED: The sector plays an important role in supporting the realisation of Oman Vision 2040 by mobilising resources and providing financial solutions for sectors such as logistics, tourism, manufacturing…
Interview: Hussain Al Lawati How do banks, commercial lenders and government stakeholders enhance financial inclusion for underserved segments? HUSSAIN AL LAWATI: Oman has made significant headway in advancing financial inclusion. Notable milestones have been achieved through the effective use of technology, strong collaboration among policy banks, government entities and commercial banks,…
Interview: Said Abdullah Al Hatmi How do banks support the development of small and medium-sized enterprises (SMEs)? SAID ABDULLAH AL HATMI: Oman’s banking sector recognises SMEs as vital to the country’s economic growth and diversification efforts. Banks are taking steps to support SMEs by offering specialised financial products, mentorship programmes and bespoke advisory services.…
Banking continues to be a key pillar of Oman’s financial sector, responsible for the majority of credit for individuals and institutions – both government-owned enterprises and the private sector. Recent years have seen credit and deposit expansion, with these growing along with banking services and the overall economy. The sector faces the challenges of enabling continued bottom-line growth while…
