Oman’s economy was heavily reliant on hydrocarbons when the pandemic began, creating fiscal pressures as demand and prices fell. However, the country was able to rely on a well-capitalised and regulated financial services system to maintain macroeconomic stability, and years of sustained investment in the public health system helped it cope with the sudden demands of a medical crisis. Looking ahead, Oman’s policymakers are considering bold measures to address twin deficits, alongside efforts to accelerate economic diversification to strengthen resilience to future shocks and disperse risk across a broad range of productive sectors. The prospects for Islamic banking look bright as favourable demographics, regulatory support and a growing appetite for alternative financing should help sharia-compliant financial institutions claim greater market share in the recovery phase.
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Register Here×Following delays, the long-awaited GCC Railway looks likely to be revitalised, a move that could transform trade and connectivity across the Gulf.
Amidst a slowdown in the Middle East’s private equity industry, Jordan’s small and medium-sized enterprises (SMEs) are set to get a boost from a new private equity fund.
The Turkish Prime Minister Bulent Ecevit has spent the last week in the US hoping to garner support for economic reforms at home and trade concessions for Turkish exports to the US.
