Financial Services

Despite difficult economic conditions, Oman’s insurers have succeeded in posting consistent net profits in recent years. With the economy recovering from the decline in global oil prices starting at the end of 2014, the industry is well positioned to take advantage of new opportunities. This is especially true as the government moves to...

Muted investor sentiment since 2016 has resulted in a slowdown of activity on Oman’s stock market. Sovereign downgrades by all three major ratings agencies and constricted government spending in the wake of a rapid oil price decline have taken their toll on trading volumes, nudging the exchange’s index into a negative trend over 2018. However...

One of the positive outcomes of the decline in oil prices over 2015 and 2016 has been a surge in activity in the GCC’s debt market. With oil revenues shrinking, governments around the Arabian Gulf have sought alternative sources of funding for their spending programmes, and the issuance of sovereign bonds has proved a useful solution for many...

The sultanate’s economic growth remained under pressure in 2017 due to a global decline in oil prices and lower government spending. As a result, the telecoms sector faced challenges such as stiff competition, regulatory reforms and changes in consumer spending behaviour. Furthermore, an increase in government royalty charges from 7% to 12%,...

Since the start of the economic slowdown in 2015, there has been much talk about consolidation in Oman’s banking sector, and in 2018 major Omani banks announced plans for potential mergers. Oman Arab Bank, the country’s only unlisted bank, and Alizz Islamic Bank signed a memorandum of understanding in October 2018 to consolidate the two...