Oman’s banking sector has weathered the economic downturn resulting from the 2014-15 hydrocarbons price crash without a significant erosion in asset quality and returned to its long-term trend of deposit and loan growth. As a result of firmer oil prices and a broadly positive outlook for the sultanate’s economy, the industry is preparing for a...
A Malaysian influence has been detectable in the GCC economic arena for many years, particularly in the Islamic finance industry, which has benefitted from the models trialled first by the Malaysian financial regulator. Kuala Lumpur has emerged as a generator of sharia-compliant standards to complement the GCC’s own Accounting and Auditing...
Located in the south-eastern quarter of the Arabian Peninsula, Oman is the only member of the GCC situated outside of the Gulf. Leveraging its strategic location, Oman has invested in infrastructure with the goal of becoming a global logistics centre. While the country is less hydrocarbons-rich than its GCC neighbours, diversification efforts...
One of Oman’s most pressing challenges is youth unemployment, with new graduates making up a significant portion of the country’s unemployed citizenry. According to the National Centre for Statistics and Information, 47% of Omani graduates are currently employed, and it takes roughly two and four years for male and female Omani graduates,...
LANGUAGE: Similar to other GCC member states, Arabic is the official language of Oman, although English is widely spoken and understood. Using English to get around or conduct business in the capital, Muscat, or other hubs such as Sohar or Salalah, is relatively easy. Locals do appreciate the...
Agriculture & Fisheries 2469 6300 Awqaf & Religious Affairs 2464 4999 Capital Market Authority 2482 3100 Central Bank of Oman 2477 7777 Civil Aviation 2435 4488 Civil Services 2468 9999 Commerce & Industry 2485 8444 Defence 2433 3361 Diwan of Royal Court 2474 2000 Education 2477 3000 Finance 2461 5833 Foreign Affairs 2469 9500...
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