The Middle East

The Omani insurance market has witnessed robust growth in recent years, which has helped gradually boost penetration rates. As in many countries, compulsory motor insurance has long been the leading branch in the sector, but previously underdeveloped segments including life and health are now expanding rapidly; the former has seen significant...

Solar power generation in Oman is growing in prominence, driven by rising efficiencies, the falling cost of photovoltaic cells and lower oil revenue since 2014 Keen to reduce government expenditures and commit a greater share of oil and gas resources to more profitable purposes than feedstock for electricity production, Oman’s official...

In August 2017 the Ministry of Health announced that private sector companies would be obliged to begin providing insurance for their employees starting in 2018. The move has set up the health coverage market, which has expanded in recent years, to generate even faster top-line growth. Speaking to OBG in January 2018, the regulator, the...

The sultanate is home to a well-developed stock exchange, the Muscat Securities Market (MSM), which was founded in 1988. The equity market has seen a decline in initial public offering (IPO) activity in recent years; however, it witnessed a resurgence in 2017 thanks to government-driven offerings, more of which are set to take place in 2018....

The Omani banking sector comprises a total of 16 conventional banks, of which seven are locally incorporated and nine are foreign banks. Apart from conventional lenders, there are also two fully fledged Islamic banks. Bank Muscat is the largest bank with a market share of around 45% by assets. It is the biggest listed company on the Muscat...