Category: Banking & Finance

Banking & Finance
MpClear
Oman launches MpClear system

Mobile payment clearing and switching (MpClear), a unique system aimed at enhancing the payment infrastructure of the country, was launched recently, according to a statement by Central Bank of Oman (CBO). With the launch of this system, Oman is the first country within the GCC countries to implement such system under the Central Bank leadership. It will also […]

Banking & Finance
CBO-1
Economy expected to continue slowdown in 2017: CBO

The annual report of the Central Bank of Oman (CB), released today, says Oman’s economy is expected to witness a slowdown in 2017, but the country is well placed to deal with the challenges in the short term. The government has been proactive in undertaking various measures to address the macroeconomic challenges over the medium-term. […]

Banking & Finance
bankmuscat
Bank Muscat posts RO84mn net profit for the first half

    Bank Muscat reported net profit of RO84.31mn for the first half of 2017, down from RO90.47mn for the same period in 2016. The bank’s net interest income from conventional banking stood at RO125.63 million for the first six months of 2017, compared with RO124.42mn for the same period of 2016, reflecting an increase […]

Banking & Finance
MSM
CMA reviews approval norms of insurance products

Oman’s Capital Market Authority (CMA) has organised a workshop to review the directives for insurance products and an approval mechanism. The event was attended by representatives of national and foreign insurance firms operating in the Sultanate as a prelude for the implementation of updated directives. The workshop highlighted the key legal requirements from insurers on […]

Banking & Finance
CBO
CBO raises RO47mn from treasury bills

  Oman’s central bank has raised OMR47.27 million by way of issuing government treasury bills. The total value of the allotted treasury bills amounted to OMR47.27 million, for a maturity period of 91 days, from May 31 to August 30, 2017. The average accepted price reached 99.729 for every OMR100 while the minimum accepted price […]

Banking & Finance
CBO1
Commercial banks perform well in Q1

  Commercial banks in Oman performed well during the first quarter of 2017 despite the difficult economic challenges facing the global banking sector. Net profits at the six commercial banks listed on the Muscat Securities Market (MSM) increased to OMR87.4 million, from OMR85.9 million during the same period last year. The banks also posted growth […]

Banking & Finance
Meethaq
Oman’s first Sukuk programme by Meethaq opens for subscription

Meethaq, the Islamic banking window of Bank Muscat, has launched the Sultanate’s first Sukuk programme. The maiden RO25 million issuance, open for subscription from May 21 till June 1, is part of a larger RO 100 million Sukuk programme for retail and institutional investors. The debut Sukuk issuance for RO 25 million comes with a green […]

Banking & Finance
PDO
PEIE signs RO50m finance deal with BankDhofar

Public Establishment for Industrial Estates (PEIE) has signed an agreement with BankDhofar to provide OMR50 million to finance several infrastructure projects undertaken by the PEIE in different industrial estates. Eng. Ahmed bin Hassan Al Dheeb, undersecretary at the Ministry of Commerce and Industry and chairman of PEIE, said that the agreement with BankDhofar aims at […]

Banking & Finance
Meethaq agreement with Dar Al Tomouh
Meethaq to finance poultry farm project in Nizwa

Meethaq, the Islamic banking window of Bank Muscat, signed an agreement to provide Islamic project finance for Dar Al Tomouh company to set up the Sultanate’s first-of-its-kind commercial contract chicken farming project in the wilayat of Nizwa. The project with an annual production capacity of 3.74 million kg live chicken will have a far reaching […]



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