Oman launches first specialised government investment bank

by | Feb 29, 2024 | 0 comments

MUSCAT – Oman Investment Bank, wholly owned by the government, was launched today to serve as the first specialised investment bank in the country. The step materialised after the relevant licenses were obtained from the Central Bank of Oman (CBO) and the Capital Market Authority (CMA).

Oman Investment Bank will have its headquarters at “Bait Al Dana” in Al Khuwair, Muscat Governorate. The bank has been established to lend support to the government’s strategic goals and meet the aspirations of local and regional investors.

The bank will offer a wide range of financial services, including corporate consultancy and the development of local and regional stock markets.

Abdulsalam Mohammed Al Murshidi, Chairman of the Board of Directors of the Oman Investment Bank, said that the bank is now poised to shoulder its vital role in supporting the implementation of strategic goals of Oman Vision 2040.

Priority is accorded to developing a flexible, diversified, and sustainable economy and introducing more competitiveness, he added.

Upon the realisation of the bank, Oman has thus taken steps to finalise the tools and instruments required internationally for developing projects and investments, the most recent of which was the launch of the Future Fund Oman early this year (2024).

As part of efforts to enhance its list of commercial franchise in upcoming years, Oman Investment Bank is focusing on providing an integrated set of strategic consultations and capital market products to serve listed and unlisted companies in Oman and other GCC states, in addition to global firms.

The bank will operate in many sectors, including energy, industry, mining, consumer sectors, agriculture, money and asset management, real estate, infrastructure, technology, media and communications, as well as any other sectors targeted by the Sultanate of Oman.

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