As part of the requirements put in place by the government, power and water generation companies in Oman have to make an initial public offering (IPO) after a certain amount of time post-incorporation. Over the last few years, the utility IPO market has been well received by the public and institutions alike, with IPOs generally substantially...
The securities exchange in Muscat is a vital component of the Omani economy. The bourse serves as a showcase for the sultanate’s large enterprises, but its primary function is to act as an arena from which pooled capital can be distributed to investment sectors. In 2015, for example, the exchange had the capacity to provide OR2.56bn ($6.6bn)...
The insurance industry in Oman has grown rapidly in recent years and now plays an important role in the domestic economy. From contributing only 0.9% to GDP in 2008, it has risen to account for 1.6% of GDP as of 2015, according to figures from the sector regulator, the Capital Market Authority (CMA). Important regulatory changes made in 2015...
As the last of the GCC countries to regulate Islamic finance activity, Oman held to a framework that made no distinction between sharia-compliant and conventional institutions for many years. All of that changed in 2011, when a royal decree permitted the establishment of standalone Islamic banks and windows, which in 2013 were provided with a...
A number of challenges have confronted Oman’s banking sector over recent years: a structural shake-up in the form of a new Islamic segment has increased competition levels; declining oil prices have constricted lending opportunities in some segments and compelled the regulator to encourage greater credit extension to others; and uncertainty...
Boosting liquidity and encouraging greater trading volumes are two strategic objectives shared by exchanges in the region, and in pursuing them the GCC’s stock markets face the same central question of how to mitigate the effects of stubbornly low oil prices and the economic uncertainty that results from them. The challenge was thrown into...
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