A Financial Sector for the Economy of the Future: Oman

June 13, 2024

Preview Citation

Format: Chicago

Thomas Kroen. A Financial Sector for the Economy of the Future: Oman, (USA: International Monetary Fund, 2024) accessed November 21, 2024

Summary

Underpinned by Vision 2040, Oman aims to reduce its economic reliance on the hydrocarbon sector by diversifying its economy. Reforms are targeted to develop a well-diversified, private-led, sustainable, and inclusive economy where innovation and knowledge play a more prominent role. This requires the existence of a well-developed, inclusive, and stable financial sector that can navigate the country’s transformation and fund the new economy. As the economic transformation gains traction and entrepreneurship and innovation take center stage, Oman’s financial sector will face a more complex environment where it needs to develop innovative financial and risk management solutions to cater for the emerging and expanding financial needs of the different players in the economy. Against this background, this note provides an assessment of the development of Oman’s financial sector, identifies areas for potential improvement, and proposes policy actions to foster further financial development and inclusion.

Subject: International organization, Monetary policy

Keywords: Banking, Bond market, Capital markets, Financial market development, Oman, Yield curve

Publication Details

Pages:

19
Volume:

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DOI:

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Issue:

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Series:

Selected Issues Paper No. 2024/019
Stock No:

SIPEA2024019
ISBN:

9798400278778
ISSN:

2958-7875

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