Latest news with #OmanGovernment
Times of Oman
22-06-2025
- Business
- Times of Oman
‘All Oman' initiative aims to boost community partnership
Muscat: Muscat Governorate on Sunday hosted the final round of 'All Oman' initiative, which aims to enhance community partnership and embody the national trend of decentralisation. The event was held under the auspices of Sayyid Saud bin Hilal Al Busaidi, Governor of Muscat. The final round of the three-day initiative, held at Oman Convention and Exhibition Center, aims to enhance direct communication between Omani governorates and the parties entrusted with implementing Oman Vision 2040. It seeks to enlighten and empower the local community through meetings, visits, and workshops to unify efforts for devising an integrated approach. The Governor of Muscat said that 'All Oman' initiative represents a real opportunity to convert the goals of Oman Vision 2040 into tangible reality through open dialogue and joint action aimed to accommodate local initiatives in all governorates of Oman, leveraging the competitive advantages of the governorates in terms of investment, economic potential, social and cultural factors that set them apart. He added that the realisation of development goals and the implementation of strategic plans can only be achieved through meetings that reflect the common government-private sector approach and thinking linked to the needs of the local community. For his part, Dr. Khamis bin Saif Al Jabri, Head of Oman Vision 2040 Implementation Follow-up Unit, underscored the efforts made to ensure the success of 'All Oman' initiative, which toured all governorates of the Sultanate of Oman. He also lauded the advanced level of cooperation shown by the local community and official institutions. Al Jabri pointed out that the initiative embodies the spirit of community partnership, focusing on empowering local communities and enhancing the role of governorates in development. The initiative's activities included specialised, knowledge-transfer-oriented workshops aimed to build the capacity of the governorate's employees and target audience from various sectors, like planning, project management and the Vision's follow-up offices. In Muscat Governorate, 'All Oman' initiative included a youth meeting that showcased inspiring experiences and success stories of how young people overcame challenges and how they made tangible impact in their respective field through innovation. The youth meeting served as a platform for dialogue among young people and contributed to their role as active partners in implementing the objectives of Oman Vision 2040 by introducing development initiatives and projects and by engaging various segments of society. -ONA
Zawya
16-06-2025
- Business
- Zawya
Oman: ahlibank successfully leads $259mln Sovereign Sukuk Issuance with 2.6 times oversubscription
Muscat: Demonstrating its growing leadership in Oman's capital markets, ahlibank, together with its Islamic window ahli islamic, has successfully led the issuance of an OMR100 million Sovereign Sukuk for the Government of Oman, in collaboration with other local institutions. The transaction, which closed on 4 June 2025, was significantly oversubscribed by 2.6 times, with the final orderbook reaching OMR260 million. Through a well-executed investor engagement strategy, ahlibank was able to tighten the average yield to 4.625%, lower than the initially set profit rate of 4.65%, thereby securing optimal pricing and outcomes for the Ministry of Finance. This transaction marks a major milestone for ahlibank as it represents the bank's first sovereign Sukuk issuance mandate from the Ministry of Finance. Executed in under two weeks, the issuance highlights ahlibank's strong institutional relationships and its capacity to mobilise the market swiftly and efficiently. The Sukuk attracted robust demand from a diverse investor base, including retail investors, conventional and Islamic banks, insurance companies, and pension funds. The robust investor response underscores the market's strong confidence in the Government of Oman's fiscal discipline, prudent economic policies, and stable macroeconomic framework. Led by ahlibank's Corporate Finance expertise, this issuance reinforces the bank's strategic role in supporting the government's funding objectives and contributing to the ongoing development of Oman's capital markets. In a statement on the successful issuance, Hanaa Al Kharusi, Senior General Manager, Wholesale Banking at ahlibank, commented: 'We are pleased to have partnered with the Ministry of Finance on this landmark issuance, which reflects our deep market expertise and strong execution capabilities. This successful transaction further solidifies ahlibank's position as a trusted advisor in the Islamic capital markets and underscores our strategic focus on supporting national funding objectives. It also reinforces our commitment to building long-term partnerships with key government entities, paving the way for future collaborations that contribute to the continued development of Oman's financial sector.' This achievement further positions ahlibank as a dependable partner for large-scale public issuances and demonstrates its ability to deliver timely and impactful results in a dynamic market environment. © Muscat Media Group Provided by SyndiGate Media Inc. (
Zawya
15-06-2025
- Business
- Zawya
Ahlibank successfully leads OMR 100mln sovereign sukuk issuance with 2.6x oversubscription
Muscat: Demonstrating its growing leadership in Oman's capital markets, ahlibank, together with its Islamic window ahli islamic, has successfully led the issuance of an OMR 100 million Sovereign Sukuk for the Government of Oman, in collaboration with other local institutions. The transaction, which closed on 4 June 2025, was significantly oversubscribed by 2.6 times, with the final orderbook reaching OMR 260 million. Through a well-executed investor engagement strategy, ahlibank was able to tighten the average yield to 4.625%, lower than the initially set profit rate of 4.65%, thereby securing optimal pricing and outcomes for the Ministry of Finance. This transaction marks a major milestone for ahlibank as it represents the bank's first sovereign Sukuk issuance mandate from the Ministry of Finance. Executed in under two weeks, the issuance highlights ahlibank's strong institutional relationships and its capacity to mobilize the market swiftly and efficiently. The Sukuk attracted robust demand from a diverse investor base, including retail investors, conventional and Islamic banks, insurance companies, and pension funds. The robust investor response underscores the market's strong confidence in the Government of Oman's fiscal discipline, prudent economic policies, and stable macroeconomic framework. Led by ahlibank's Corporate Finance expertise, this issuance reinforces the bank's strategic role in supporting the government's funding objectives and contributing to the ongoing development of Oman's capital markets. In a statement on the successful issuance, Hanaa Al Kharusi, Senior General Manager, Wholesale Banking at ahlibank, commented: 'We are pleased to have partnered with the Ministry of Finance on this landmark issuance, which reflects our deep market expertise and strong execution capabilities. This successful transaction further solidifies ahlibank's position as a trusted advisor in the Islamic capital markets and underscores our strategic focus on supporting national funding objectives. It also reinforces our commitment to building long-term partnerships with key government entities, paving the way for future collaborations that contribute to the continued development of Oman's financial sector.' This achievement further positions ahlibank as a dependable partner for large-scale public issuances and demonstrates its ability to deliver timely and impactful results in a dynamic market environment.
Times of Oman
14-06-2025
- Business
- Times of Oman
ahlibank successfully leads OMR100mn Sovereign Sukuk Issuance with 2.6 times oversubscription
Muscat: Demonstrating its growing leadership in Oman's capital markets, ahlibank, together with its Islamic window ahli islamic, has successfully led the issuance of an OMR100 million Sovereign Sukuk for the Government of Oman, in collaboration with other local institutions. The transaction, which closed on 4 June 2025, was significantly oversubscribed by 2.6 times, with the final orderbook reaching OMR260 million. Through a well-executed investor engagement strategy, ahlibank was able to tighten the average yield to 4.625%, lower than the initially set profit rate of 4.65%, thereby securing optimal pricing and outcomes for the Ministry of Finance. This transaction marks a major milestone for ahlibank as it represents the bank's first sovereign Sukuk issuance mandate from the Ministry of Finance. Executed in under two weeks, the issuance highlights ahlibank's strong institutional relationships and its capacity to mobilise the market swiftly and efficiently. The Sukuk attracted robust demand from a diverse investor base, including retail investors, conventional and Islamic banks, insurance companies, and pension funds. The robust investor response underscores the market's strong confidence in the Government of Oman's fiscal discipline, prudent economic policies, and stable macroeconomic framework. Led by ahlibank's Corporate Finance expertise, this issuance reinforces the bank's strategic role in supporting the government's funding objectives and contributing to the ongoing development of Oman's capital markets. In a statement on the successful issuance, Hanaa Al Kharusi, Senior General Manager, Wholesale Banking at ahlibank, commented: 'We are pleased to have partnered with the Ministry of Finance on this landmark issuance, which reflects our deep market expertise and strong execution capabilities. This successful transaction further solidifies ahlibank's position as a trusted advisor in the Islamic capital markets and underscores our strategic focus on supporting national funding objectives. It also reinforces our commitment to building long-term partnerships with key government entities, paving the way for future collaborations that contribute to the continued development of Oman's financial sector.'
Times of Oman
03-06-2025
- Business
- Times of Oman
IMF experts commend Oman's continued economic growth
Muscat: The International Monetary Fund (IMF) mission concluded its preliminary meetings with the government of the Sultanate of Oman during the period 21-29 May 2025 within the framework of Article IV consultations for the year 2025. The Fund's team and the Omani side discussed the most prominent recent economic developments, fiscal and monetary policies, and structural reform progress in the Sultanate of Oman. At the conclusion of the visit, the IMF commended Oman's continued economic expansion, with real GDP growth reaching 1.7% in 2024, up from 1.2% in 2023, primarily driven by strong performance in non-hydrocarbon sectors, notably manufacturing, logistics, tourism, and renewable energy. Growth is projected to accelerate to 2.4% in 2025 and 3.7% in 2026, supported by the gradual lifting of OPEC+ oil production cuts and ongoing economic diversification efforts. Inflation remains contained, recorded at 0.9% year-on-year for the first four months of 2025. The IMF acknowledged the government's prudent fiscal stance, with a fiscal surplus of 3.3% of GDP in 2024, despite increased investment in infrastructure and essential public services. The surplus is expected to moderate to an average of 0.5% of GDP during 2025–2026, reflecting lower oil prices, but is forecast to strengthen over the medium term. In the area of fiscal management, the IMF noted the reduction in public sector debt to 35.5% of GDP in 2024, alongside a continuing commitment to fiscal reforms and investment in priority sectors. Structural reforms across the public sector, including improvements in State Owned Enterprises (SOEs) governance by Oman Investment Authority. The IMF confirmed that Oman's banking sector remains robust, supported by strong asset quality, ample capital and liquidity buffers, and sustained profitability. Private sector credit growth continues to be solid, underpinned by an expanding deposit base and a positive net foreign asset position. The IMF also welcomed the CBO's continued progress in enhancing its liquidity management framework, alongside broader financial sector initiatives aimed at expanding access to credit and deepening financial inclusion. The external sector also performed positively, with a current account surplus of 2.2% of GDP in 2024. While a temporary shift to a modest deficit is projected in 2025–2026 due to softer oil prices and slower export growth, the balance is expected to return to surplus as hydrocarbon output gradually ramps up. The IMF further recognized Oman's steady progress in implementing structural reforms. These include tax administration modernization by Oman's Tax Authority, operational success of Future Fund Oman in mobilizing private capital, and active efforts to develop the renewable energy sector, including green hydrogen initiatives. The upcoming 11th Five-Year Development Plan (2026–2030) will build on these gains to accelerate economic diversification under Oman Vision 2040. The Central Bank of Oman expressed appreciation for the IMF's positive assessment and remains committed to maintaining financial stability, advancing banking sector resilience, and supporting the Sultanate of Oman's vision for a diversified and sustainable economy.
