A number of challenges have confronted Oman’s banking sector in recent years: a structural shake-up in the form of a new Islamic segment has increased competition levels; declining oil prices, which have constricted lending opportunities in some segments and compelled the regulator to encourage greater credit extension to others; and uncertainty surrounding the growth of regional economies,...
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Chapter | Banking & IFS from The Report: Oman 2017
Despite ongoing economic pressures associated with the drop in oil prices, Oman’s diversification strategy and efforts to enhance wider revenue streams are beginning to bear fruit, as witnessed by continued growth in the non-oil sector despite dropping incomes and wider regional instability.
Interviews & Viewpoints | Simeon Preston, Group COO, AIA Group: Interview from The Report: Myanmar 2017
Articles & Analysis | Ongoing financial reforms in Myanmar strengthen oversight of financial sector from The Report: Myanmar 2017
In the wake of sweeping reforms undertaken since 2011, Myanmar’s banking sector has been advancing at a rapid pace to become safer, sounder and better regulated. The majority of banking institutions are rising to the challenge by adopting international best practices, especially in terms of accountancy, and investing in systems that promise to...
Articles & Analysis | Investors see great potential in Myanmar from The Report: Myanmar 2017
Recent liberalisations are set to transform the insurance sector in Myanmar, and the potential for future growth is remarkable. For almost half a century, business lay entirely in the hands of the state. That fact, plus economic isolation and slow growth, mean that the country is presently the least insured in the ASEAN region, with...
Articles & Analysis | Myanmar's banks invest in technology to modernise operations from The Report: Myanmar 2017
Not only are Myanmar institutions improving in safety, soundness and accountancy, they are also expanding their use of technology. Several banks are adopting the latest systems in an effort to become modern financial services companies, while more generally the country is developing its digital strategy to allow for channels that enhance the...