CBO implements regulatory measures to drive non-oil GDP growth, generate job opportunities for Omanis

MUSCAT : These proactive measures, in line with the National Development Strategy and national priorities, include sector-specific lending, capital relief programs, modernisation of liquidity and interest rate risk management frameworks.

Set to transform the banking sector’s role in promoting sustainable economic growth, these initiatives aim to direct capital toward high-priority non-oil sectors, equipping banks with enhanced capital buffers to support growth while managing risks effectively.

This strategic approach could enable banks to potentially finance over US$25 billion over the next five years, significantly driving non-oil GDP growth and generating thousands of job opportunities for Omanis by 2030. Key sectors targeted include tourism, renewable energy, logistics, mining, agriculture, fisheries, education, healthcare, and technology.

In a further strategic move, the CBO has equipped banks with advanced liquidity management tools, allowing them to respond more adeptly to market dynamics. By enhancing interest rate risk management practices, banks can optimize their funding structures, offer competitive pricing, and support the long-term growth of Oman’s financial ecosystem.

The Gulf Indians

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