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...
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...
There was a time in our history when Oman needed to think about making various improvements in the country. Now we have the goals of human and social advancement in the sultanate, and it is important to build up a strong framework on which designs and projects can be based. Despite the large geographical area and harsh terrain of Oman, our...
Like other GCC states, Oman’s economy is largely driven by oil and gas activity. However, with fewer and more complex hydrocarbons reserves than its neighbours, it is under greater pressure to diversify its economic base. The scale of this challenge was highlighted by recent falling oil prices, which led to the largest fiscal deficit in more than a decade. Nevertheless, a combination of...
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