The three decades before the 2007-08 global financial crisis were marked by the world’s financial networks becoming increasingly interconnected. Financial system regulatory convergence, the growing penetration of World Trade Organisation rules and the creation of currency unions, such as the euro, resulted in a surge in cross-border capital...
Oman’s banking sector has continued to perform well in spite of economic headwinds. The growth of non-oil sectors has increased demand for credit and, as a result, banks’ lending and assets have continued to expand, although liquidity has tightened. Meanwhile, the vibrant Islamic financial services segment has supported the sector’s growth....
How would you assess liquidity in the market, and what is being done to alleviate rising funding costs?
Following the drop in oil prices in 2014, the government budget has fallen into deficit. As a result, the authorities have implemented a bold series of fiscal reforms since 2015 to shift the budget on to a more sustainable trajectory. For instance, 2019 saw the introduction of a series of new excise taxes, referred to as sin taxes, on alcohol...
Given its natural assets, strategic location and appealing geography, Oman has the resources for significant economic expansion. Although the sultanate remains dependent on oil and gas, efforts to diversify the economy are already bearing fruit. While private sector growth benefitted from the many investments committed in the days of higher...
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