Hydrocarbons play a vital role in the Omani economy, comprising almost 50% of GDP and accounting for the large majority of government revenues. While 15 years ago it seemed this contribution was set to decline irrevocably – with production dropping from 970,000 barrels per day (bpd) to 710,000 bpd in the space of just seven years – careful...
THE COMPANY: The publicly listed Ahlibank is engaged in commercial banking activities in Oman through a network of 19 branches. It was formed in November 2007 when Ahli United Bank (AUB) acquired a 35% stake in Alliance Housing Bank, a specialised mortgage finance provider. AUB acquired the stake by...
THE COMPANY: Al Maha Ceramics (AMC) was set up in 2006 and began commercial production in April 2008, with a manufacturing plant in Sohar Industrial Area spread over 150,000 sq metres. The company has emerged as one of the largest selling ceramic tiles in the years since its inception, due to its...
THE COMPANY: Bank Muscat (BM) is the leading financial services provider in Oman, with a strong presence in corporate, retail, investment and private banking, as well as in asset management. It was founded in 1982 and grew through a series of mergers and acquisitions during the 1990s. Between 2000...
Oman has seen growing initial public offering (IPO) activity in recent years, spurred in part by regulatory requirements for foreign-backed electricity companies to conduct share offerings. While 2015 got off to a slower start than the previous year, recent regulatory changes should help to further boost the IPO pipeline in coming years and in...
In August 2014 amendments to Oman’s insurance law were passed under Royal Decree No. 39/2014. Changes include a doubling of capitalisation requirements for insurance companies – the second minimum capital increase in recent years – and an obligation to list on the local stock exchange, both of which will come into effect in 2017. Industry...
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