Recent changes in the sultanate’s banking landscape have increased competition for loans, with banks now also switching some of their emphasis from retail to corporate. These moves come ahead of an expected acceleration in competition overall, as Islamic banks and banking windows enter the market operationally in late 2012-13, and a range of...
Financial Services
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Articles & Analysis | Lending a hand: Greater competition brings a wider range of products and services from The Report: Oman 2013
Articles & Analysis | Facing the risks: The central bank is seeking to keep personal debt in check as the appetite for credit grows from The Report: Oman 2013
With the Omani appetite for credit showing some substantial increases in 2011 and early 2012, the Central Bank of Oman (CBO) introduced some important measures to ensure this loan growth stayed within sustainable limits. The results have been good thus far, even if they have obliged banks to adjust and required banking equities to stabilise. The...
Articles & Analysis | An eye on fundamentals: Solid growth in the conventional segment and the introduction of Islamic financial services bode well for the sector from The Report: Oman 2013
Backed up by strong macroeconomic fundamentals and the sultanate’s reputation for stability and sound financial management, Oman’s banking sector is now starting a period of substantial change. In 2012-13, Islamic banks will enter the field for the first time, bringing heightened competition for deposits and loans, while also bringing wider...
The government is preparing the groundwork to give securities regulations an overhaul as part of Papua New Guinea’s (PNG) plans to enhance both its investment climate and international credit rating.
A flurry of initial public offerings (IPOs) planned for December and early 2013 highlight how firms in Indonesia are trying to harness bullish domestic and global confidence to fund plans for expansion.
Economic update | Oman: Regulating Islamic finance
11 Jan 2013
The recently released Islamic Banking Regulatory Framework (IBRF), a 500-page document setting out the regulations that will govern Oman’s financial sector, is set to open the door for both conventional and Islamic banks to market sharia-compliant products. In a statement accompanying the regulations, the Central Bank of Oman described the IBRF as “a detailed and comprehensive document covering all aspects of Islamic banking”.