• Financial Services

    OBG’s banking, insurance and investment coverage looks at revenue and profit trends, market share changes, foreign entry and regulatory developments while our capital markets sector analyses provide information on the stock and bond markets, IPO activity and regulatory changes.
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The Omani banking sector comprises a total of 16 conventional banks, of which seven are locally incorporated and nine are foreign. Conventional banks in Oman have a network of 468 branches and 1088 ATMs. Alongside conventional lenders, there are also two fully fledged Islamic banks that together have a market share of around 10% by assets....

 

Oman’s insurance market is highly competitive and fragmented, with a total of 22 insurance companies. Of these, 11 are local with the other 11 being branches of foreign insurers. The industry expanded at a robust rate of 12% per annum between 2010 and 2014, with total gross written premiums reaching $1bn by the end of the period. The sector is...

 

As part of the requirements put in place by the government, power and water generation companies in Oman have to make an initial public offering (IPO) after a certain amount of time post-incorporation. Over the last few years, the utility IPO market has been well received by the public and institutions alike, with IPOs generally substantially...

 

The securities exchange in Muscat is a vital component of the Omani economy. The bourse serves as a showcase for the sultanate’s large enterprises, but its primary function is to act as an arena from which pooled capital can be distributed to investment sectors. In 2015, for example, the exchange had the capacity to provide OR2.56bn ($6.6bn)...

 

As the last of the GCC countries to regulate Islamic finance activity, Oman held to a framework that made no distinction between sharia-compliant and conventional institutions for many years. All of that changed in 2011, when a royal decree permitted the establishment of standalone Islamic banks and windows, which in 2013 were provided with a...

 

The insurance industry in Oman has grown rapidly in recent years and now plays an important role in the domestic economy. From contributing only 0.9% to GDP in 2008, it has risen to account for 1.6% of GDP as of 2015, according to figures from the sector regulator, the Capital Market Authority (CMA). Important regulatory changes made in 2015...