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Oman launches first state-owned investment bank

Oman

Oman has established its first government-owned specialised investment bank after obtaining the relevant licenses from the Central Bank of Oman (CBO) and the Capital Market Authority (CMA).

Oman Investment Bank was officially launched on Thursday as the country’s first dedicated corporate investment bank, headquartered at Dana House in the Al Khuwair district of Muscat.

The new bank will support the sultanate’s strategic goals and ambitions, serving wholesale corporate and investor clients regionally and across Oman Investment Bank’s target markets. The bank will offer a range of financial services, from corporate finance advisory to the development of domestic and regional securities markets.

In a press statement, H E Abdulsalam bin Mohammed al Murshidi, Chairman of Oman Investment Bank, said that Oman Investment Bank is now poised to play a vital role in supporting the Omani government’s implementation of the Oman Vision 2040 strategy, which prioritises the development of a more agile, diversified, sustainable, and competitive economy.

He added that with the launch of Oman Investment Bank, the sultanate now possesses most of the tools required to encourage investment in projects being developed in the country. Priority is accorded to developing a flexible, diversified, and sustainable economy and introducing more competitiveness.

The launch of Oman Investment Bank follows the establishment of the Oman Future Fund, which was launched at the beginning of this year. With a vision to grow over the coming years, Oman Investment Bank’s focus will include providing a full suite of strategic advisory and capital markets products to listed and unlisted corporates in Oman, the broader GCC region, and internationally.

Key business sectors to be supported by Oman Investment Bank will include energy and power, industries, minerals, consumer goods, agriculture, financial services and asset management, real estate, infrastructure, and technology/media/telecommunications, as well as any other strategic sectors targeted by the Omani government.

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