Banking

Oman’s banking sector has continued to perform well despite economic headwinds. Falling oil prices have increased the demand for credit and, as a result, banks’ lending and assets have continued to expand, although liquidity has tightened. Meanwhile, the vibrant Islamic banking and financial services segments have supported the sector’s growth. According to the Central Bank of Oman, at the end of 2018 there were seven local commercial banks operating across 420 branches; nine foreign banks with 31 branches; two local Islamic banks with 24 branches; and six Islamic windows, which are part of conventional parent banks, with a total of 58 branches. This chapter contains an interview with Tahir bin Salim Al Amri, Executive President, Central Bank of Oman.