The Network Forum Middle East Meeting (TNF), held yearly in the GCC region, will be hosted this October 9-10 in Muscat, Oman by the Muscat Stock Exchange and MCD. It is the key gathering point for over 100+ capital market leaders from post-trade, asset management and servicing, investment banking and custody backgrounds. Held in the wonderful Al Bustan Palace, top level networking is guaranteed. TNF…
The GCC saw a rise in initial public offerings (IPOs) in 2022 despite secondary market volatility, surpassing the previous year’s record high. The total number of IPOs in the region increased from 20 in 2021 to 48 in 2022, marking a 140% rise. Proceeds from GCC issuers increased by 211% from $7.5bn to $23.4bn over the same period. The growing number of successful IPOs in the region has attracted…
The local capital markets are expected to play a major role in implementing Oman Vision 2040, a long-term blueprint for economic development. The sector is transforming the economy away from its traditional role in the past decades with a dependency on oil revenue, and in which the government played a key role in the economy as an investor, job creator and service provider. Oman’s capital markets…
Insurance companies worldwide have been preparing for the most significant change in global accounting standards in almost two decades. On January 1, 2023 the International Financial Reporting Standard (IFRS) 17 came into effect. Replacing the previous standard, IFRS 4, which was issued in 2004, IFRS 17 aims to standardise insurance accounting globally through a uniform approach in order to improve…
The Gulf banking sector has witnessed an increase in mergers and acquisitions (M&A) in recent years, as lenders continue to deal with the economic headwinds associated with the Covid-19 pandemic. At the outset of the pandemic, in the first quarter of 2020, it was anticipated that the economic slowdown and the associated fall in oil prices would accelerate the M&A trend among banks in the region,…
In December 2022 Oman marked 10 years since its establishment as a burgeoning destination for sharia-compliant banking and investment. The sultanate has successfully pushed for the development of a robust and supportive governance framework since the regulation of its Islamic finance segment began with Royal Decree No. 69 of 2012, which added a chapter dedicated to Islamic banking. This process culminated…
Oman’s capital markets are positioned to play a crucial role in achieving the Oman Vision 2040 objectives, having made great strides in the wake of the Covid-19 pandemic. With the country in the middle of a period of wide-ranging reforms and strategic changes designed to accelerate private sector growth and enhance resilience, new opportunities are opening up to invest in Oman’s capital markets…
Recent years have been challenging for insurers worldwide as they grappled with the impact of the Covid-19 pandemic, supply chain disruptions, turbulent oil and gas prices, and uncertainties concerning economic growth. Despite these challenges, Oman’s insurance sector has demonstrated robust growth. Looking ahead, recovery in the wider economy, regulatory improvements and signs of market consolidation…
As a cornerstone of the economy, Oman’s banking sector experienced significant growth and development between 2012 and 2022. While the disruption of the Covid-19 pandemic – and in particular its knock-on effects on global energy markets, supply chains and inflation – has weighed on the pace of expansion, Omani banks’ strong performance and stability in the years preceding the health crisis…
Interview: Abdullah Al Salmi In which ways will the new Securities Law help to attract local and foreign capital? ABDULLAH AL SALMI: The CMA is responsible for regulating the capital market and the insurance segments. The authority not only develops the regulatory environment for these areas of the economy, but it also aims to provide the necessary resources for broader economic and social development. The…
