The Omani banking sector comprises 16 conventional commercial banks, of which nine are branches of foreign financial institutions and seven are locally incorporated. In addition, there are two state-owned specialised banks and two local Islamic banks. Sharia-compliant banking, which was introduced in 2012, accounted for 13% of Oman’s banking...
How successful have bond issuances been in providing funding for government spending and as a mechanism for private sector financing?
The Omani telecoms industry is among the most developed in the region in terms of the services provided and the competitiveness of the market. The mobile penetration rate increased to 143% in June 2019, up from 141.3% in 2018. Meanwhile, the number of fixedline subscriptions grew to 448,189 in the same period, marking a penetration rate of 72...
After a hiatus of 18 months the government of Oman returned to the international debt market in August 2019 with the issuance of a $3bn dual-tranch bond, made up of $2.25bn worth of 10-year bonds and $750m worth of five-year bonds. The issuance attracted considerable interest from investors, with the overall issue oversubscribed, attracting...
The overall performance of Oman’s capital markets in 2019 was somewhat mixed. While the country’s credit market continued to grow, underpinned by strong sovereign debt issuance, the equity market declined in the wake of a slowing economy. However, stock market valuations have improved considerably, a number of new debt issuances are in the...
Industry and manufacturing is one of the key sectors expected to contribute to the country’s economic diversification strategy. In order to support the development of the sector, the government has unveiled a range of initiatives to attract investment. Industrial activities registered growth of 1.5% in 2018, contributing OR5.53bn ($14.4bn) to...
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