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Panel 2: The Road Ahead for Omani Banking. 13 April 2008. Oman Banking Sector Structure. Central Bank of Oman (CBO). 6 Finance & Leasing Companies. 48 Money Exchange Establishments. Banking Institutions. 7 Local Commercial Banks 9 Foreign Banks 2 Specialised Banks.
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Panel 2: The Road Ahead for Omani Banking 13 April 2008
Oman Banking Sector Structure Central Bank of Oman (CBO) 6 Finance & Leasing Companies 48 Money Exchange Establishments Banking Institutions • 7 Local Commercial Banks • 9 Foreign Banks • 2 Specialised Banks • Strong attractiveness in the Omani banking industry as more foreign banks are getting banking licenses into the Sultanate. • In 2007, Standard & Poor’s ranked Oman as the best performing GCC market in funds management. • In 2007, Moody’s upgraded the Bank Financial Strength Rate (BFSR) of the majority of the Omani banks.
Oman Banking Sector Performance Historical Total Credit and Profitability of the Omani Banking Sector Source: Annual Reports, Central Bank of Oman
Characteristics of the Omani Banking Sector • Improving economic and demographic environment • Aggressive investment plan by the Government and Private sector • Strong Tourism and Real Estate growth • Stable Earnings • Well regulated and protected sector • Emerging opportunities: • Project Finance • Housing Finance