As part of the effort to diversify Oman’s economy, the authorities are keen to boost growth in the small and medium-sized enterprise (SME) segment, which is comparatively underdeveloped. The segment is thought to contribute 16-20% of national GDP, which the Central Bank of Oman (CBO) in a 2014 report described as “indicative of a sector with...
The creation of Oman’s Islamic banking segment dates back to 2012, when the Central Bank of Oman (CBO) launched the Islamic Banking Regulatory Framework. The following year the regulator issued licences for the country’s first two sharia-compliant banks, alizz islamic bank and Bank Nizwa. Islamic windows have also been launched at six...
What do you see as the most significant impact over the coming years of the introduction of Basel III regulations in Oman?
How is the NCSI coping with the challenge of bringing previously informal and fragmented data into a formal centralised system?
Given the current low oil prices, what monetary and fiscal policy changes is the CBO considering?
Despite a fall in the international price of oil in the run-up to its launch, the government’s 2015 budget is based around a 4% increase in government spending (on budgeted as opposed to actual expenditures in 2014), to OR14.1bn ($36.5bn). The budget, which forecasts government revenues to stand more or less unchanged on 2014 figures at OR11....
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