Oman’s stable and tightly regulated banking sector has continued to perform well in recent times. The expansion of the newly launched sharia-compliant segment, coupled with strong asset growth, has been central to the sector’s development. Indeed, the Central Bank of Oman has established a Sharia Supervisory Authority to help regulate the sharia-compliant segment while commercial banking...
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Oman’s GDP at current market prices stood at OR31.45bn ($81.4bn) in 2014, up 4.6% on 2013, according to the Central Bank of Oman. However, the drop in global oil prices has put significant pressure on Oman’s GDP expansion. To address this, and indeed to pave the way for a non-oil future, various diversification strategies have been put in place that aim to reduce the county’s reliance on...
Chapter | Country Profile from The Report: Oman 2016
Oman, located on the south-eastern end of the Arabian Peninsula, is the only member of the GCC located outside the gulf. Leveraging its strategic location on the Strait of Hormuz, the government is ramping up infrastructure investment in line with the sultanate’s goal of establishing itself as a global logistics centre. Oman Vision 2020, the country’s long-term development plan, emphasizes the...
Oman’s long history of political stability coupled with its favorable international trade agreements and special economic zones has ensured strong growth in economic output and exports in recent years. The fall in global prices is undoubtedly a concern for the sultanate, but the sustained focus on diversification schemes, as well as the country’s ongoing spending commitments on big-ticket projects should ensure steady growth moving forward.
Rising income levels and a growing awareness among Vietnamese citizens of the benefits of insurance is on track to steer the industry to double-digit growth in 2016.
Articles & Analysis | Useful numbers in Oman from The Report: Oman 2016
Agriculture & Fisheries (24) 696 300 Authority for Electricity Regulation (24) 609 700 Awqaf & Religious Affairs (24) 644 999 Capital Market Authority (24) 823 100 Central Bank of Oman (24) 777 777 Civil Services (24) 689 999 Commerce & Industry (24) 873 900 Defence (24) 312 605 Diwan of Royal Court (24) 742 000 Education (24) 773...