Category: Banking & Finance

Banking & Finance
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
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
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
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 […]

Best Banks in Oman Survey 2017
Strong supervisory framework

The OER-GBCM Best Bank’s in Oman survey 2017 shows a robust performance by the banking sector despite strong headwinds Banking sector regulations and reforms by the Central Bank of Oman (CBO) has resulted in a strong and resilient banking system in the Sultanate over the years. Adherence to a strict and disciplined monetary policy, risk-based […]

Best Banks in Oman Survey 2017
Helping national goals

  HE Hamood Sangour Al-Zadjali, Executive President, Central Bank of Oman, shares his views on the progress made by the Sultanate’s banking industry in an exclusive interview to OER   How was the banking sector’s performance in Oman during 2016? Notwithstanding the challenges facing the Omani economy, the banking sector remained robust supporting economic diversification […]

Best Banks in Oman Survey 2017
Bank Dhofar-1
Winning streak

Abdul Hakeem Omar Al-Ojaili, Acting CEO, BankDhofar talks about various initiatives that has enabled the bank to emerge as the numero uno. Mayank Singh reports   Can you give us a brief overview of BankDhofar’s performance in 2016? The bank continued to grow in all key areas in the year 2016 despite the current economic […]

Best Banks in Oman Survey 2017
NBO (1)
Ahead of the curve

Ahmed Al Musalmi, CEO, National Bank of Oman, says that the bank has been able to deliver superior value and experiences to its customers and employees, by investing heavily in people and systems and improving its processes How was National Bank of Oman’s financial performance in 2016? It has been three years since NBO implemented […]

Best Banks in Oman Survey 2017
Bank Muscat-1
Wholistic banking experience

AbdulRazak Ali Issa, Chief Executive, Bank Muscat talks about the all-round performance of the bank in financial year 2016. An OER interview How was your bank’s financial performance in 2016? Bank Muscat maintained leadership with a 38 per cent market share of assets and posted a net profit of RO176.56mn for the year ended December […]

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