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The aim of the strategic move is to innovate digitally and to boost the economy. ADQ, one of the largest UAE holding companies, joined Oman Investment Authority (OIA) to launch a technology-focused fund of $180 million. This partnership aims to drive growth, progress, and transformation among the regions. The key agenda behind the launch of the fund is to invest in technology-focused ventures to excel in digital transformation. This fund aims to revolutionize industries by providing support to SMEs and high-growth companies. This assists in empowering and scaling up the operations to excel in the trending market. Unveiling the Opportunities  Fund assistance enables entrepreneurs to realize the meaningful impact and vision that will be facilitated by the growth. This partnership will accelerate the emergence of a vibrant technology ecosystem, and increase global competitiveness. As the transformation continues, ADQ and OIA funds boost the progress and unveil opportunities for prosperity and growth. Launch of $180 million Technology Based Fund On 23rd April An Abu Dhabi Investment and holding company, ADQ declared the launch of a $180 million technology-based fund. The fund also demonstrates the larger agreement among both parties in the year 2022. Emirates News Agency (WAM) Outlook As per the Emirates News Agency (WAM) the fund targets to accelerate the digital economy as well as to broaden the MENA region in the Sultanate. This could be possible by supporting high-production companies like FinTech, CleanTech, agriculture, food, EdTech, and logistics. The main focus is to empower technology-based start-ups and create companies with a focus on innovative technology. Final Thoughts The fund will be the pioneer of success in the region. As, in the year 2022, it was identified that the worth of investment opportunities is over $8 million. This partnership also aims to bolster trade and collaboration among both countries. ADQ and OIA are charting success and innovation. Similarly, believes in building a world of limitless technology for generations to come.

In the Kingdom of Oman, special economic and free zones are beacons for economic prosperity and opportunities. Region believes in providing unique environmental designs to meet the needs of investors and individuals. It’s where innovation thrives, imagination turns into reality and businesses flourish to the peak. Oman’s special economic and free zones are the hubs of benefits for entrepreneurs and businesses. These zones are renowned for their infrastructure, supportive ecosystem, and for streamlining regulations to boost growth and Development. Moreover, these free zones offer several advantages to its investors. Oman’s Special Economic and Free Zones Achieved a Milestone  Oman’s Special Economic and Free Zones achieved a milestone in GDP growth by providing incentives to the National economy. However, these zones are proven to boost foreign direct investment, and also accelerate foreign trade and exports. Moreover, it accelerates the industrial activity. Let’s Dive into Numbers Worldwide, there is significant growth in special economic zones are noticed. Almost more than 5,000 zones have expanded in 150 countries. This huge number highlights the significance of economic zones. However, economic zones serve as a key element in increasing the development and diversifying the economy. Also, it creates a modern environment. During the years 2022 and 2023, the investment in Oman’s special economic and free zones will almost double to RO 3.5 billion. Approximately, an investment of RO 19 billion was recorded during the previous year in free zones, special economic zones, and industrial zones. Also, these zones provide developed infrastructure and offer a range of services to make housing and living highly attractive, for families, investors as well as for individuals. Free Zones Tactics to Attract Investors Somehow these zones managed to attract investors and individuals to live in these zones to economic prosperity. The tactics that these zones adopted are market analysis and in-depth knowledge about their client’s preferences and needs. It offers recreational areas and parks, provide hostel facilities, and modern residential areas. It also consists of mega shopping complexes and a suitable heritage for tourists. However, these zones put a lot of effort into making the extensive infrastructure these zones worth capturing. As the work environment is expanding these special economic zones attract foreigners to live near their workplace peacefully. Also, commercial activities are boosted in these zones. Additionally, it promotes the expansion of small and medium-sized businesses (SMEs). Public Authority for Special Economic zones and free zones integrates the projects of infrastructure in these areas to boost the living standards for residents. In these zones, modern living standards are promoted and the focus is on boosting investment opportunities. Explore a Special Economic Zone “Duqm” Duqm a special economic zone instances Oman’s growth through its modern living standards and it attracts various foreigners every year. By the year, Investment has also reached up to RO 6 billion. Duqm is a blend of modern lifestyle and economic projects. Its stunning weather, beaches, and hotels make it a key destination for investors as well as for residents. By the year 2023, Duqm increased investments in petrochemical industries and refineries. These areas assist in hydrogen production and green iron. These investments assist in creating an appealing and encouraging environment for residents. Other Free Zones of Oman Other free zones of Oman like Al Mazunah, Sohar, and Salalah saw a significant investment during the previous year which was about RO 800 million. These zones offer a safe environment to live by fulfilling the needs and necessities of residents. The projects of mining, food, and medical supply are continuing. These zones portray modern oases in comparison to global economic zones. Final Remarks In conclusion, the Special Economic and free zones of Oman are modern oases to capture diverse aspirations. And provide advantages of, a peaceful ecosystem with a focus on sustainability. It is accurate to state that Oman’s future is being shaped by these economic zones. These zones are poised to remain prosperous. MFN Auditing is a platform, that Bridging your imaginations into realities.

Three of Oman’s driving financial specialists say the advancement within the Sultanate’s worldwide credit rating. It gives a critical opportunity to boost the Omani economy. And grow the financial base, and get more prominent financing for ventures. And pushing towards accomplishing the targets of “Oman Vision 2040”. They claim that government actions are what have led to Oman’s rating being raised by various international credit rating agencies. These incorporate endeavors to control open investing, diminish open obligation, increment non-oil incomes, and upgrade the state open sector’s money-related execution. Build Mohammed Al Ghassani, Chairman of the Oman Advancement Bank, invited the common advancement in Oman’s universal credit rating. Especially Standard & Poor’s, which rose from BB with a positive viewpoint in Walk 2023 to BB+ in Walk 2024. He said that usually, the natural product of the Government’s later endeavors is to control government investment. Amplify state money-related incomes, and continue reducing open obligations, particularly high-cost obligations. He included that this can be moreover due to the viability of financial and financial approaches of the budgetary supportability program. To bargain with sudden financial challenges while proceeding to advance financial development. Rise in Oman’s Credit Rating The Improvement Bank Chairman said the advance in Oman’s credit rating is an imperative pointer for speculators. And borrower certainty within the Sultanate’s economy and its keeping money division. This will advantage Oman because it will be able to get future credits at lower fetches. Empowering remote speculators to lock in huge capital speculations, subsequently quickening financial broadening and advance towards the destinations of “Oman Vision 2040”. Generally, he included, it strengthens the regulatory and money-related administration of the state. And managing an account segment, upgrading long-term financial and monetary solidness. The Chairman said that this advancement in worldwide credit evaluations ought to proceed with the government’s progressing endeavors to control government investing, decrease open obligation, and actualize measures to boost financial development. Oman: An Enabler of Stability and Economic Growth Dr Yousuf Al Balushi, a financial master, offers this positive investigation, noticing the critical positive suggestions of Oman’s making strides in credit rating. He said these incorporate the accessibility of lower-fetched financing for both the Government and Omani commercial banks which can at that point be infused into the Omani economy. Dr. Al Balushi clarified that nearby and outside speculators respect credit evaluations as a vital marker for their speculation choices. He included that the proceeding advancement can be ascribed to a few components, counting oil costs, government monetary arrangement and the accumulation of outside trade saves. Dr Khaled Al Amri, Chairman of the Omani Financial Affiliation, said that the change within the future viewpoint by Standard & Poor’s recognizes that Oman is moving within the right heading to improve the venture environment and upgrade speculator certainty within the national economy. Boosting Investment and Financial Stability It concurred that this will offer assistance to pull in remote speculation, move forward the trade environment, and improve the capacity of banks and budgetary education. Meanwhile, to get financing at lower costs, subsequently lessening the fetched of adjusting open obligation and upgrading the government’s unwavering quality in meeting its commitments. Also it noted that one of the reasons for altering the long-term viewpoint may be a drop in open obligation, which diminished from OMR 17.6 billion after 2022 to OMR 15.2 billion after 2023. This diminishes of 13.63%, reflects a critical accomplishment that has contributed to the enhancement of Oman’s financial soundness, he included The advancement in Oman’s credit rating, affirms the government’s reality in proceeding to actualize measures aimed at reinforcing the monetary position and progressing its markers, in expansion to the financial measures received to advance financial development and proceed to diminish the state’s open obligation

In confirmation of Oman’s financial flexibility and quality, the country has accomplished a momentous exchange excess of RO 877 million. Therefore, This turning point reflects the strength of Oman’s exchange division and its capacity to explore worldwide financial challenges. The surge in exchange overflow underscores Oman’s key position within the worldwide commercial center. With a differing run of trade commodities including oil, normal gas, and minerals. Oman proceeds to play an essential part in universal exchange systems. The country’s proactive endeavors to broaden its economy past oil reliance have yielded noteworthy profits. And contributing to maintained development and success. The accomplishment of an exchange excess of RO 877 million isn’t only a factual figure. But a confirmation of Oman’s commitment to financial soundness and development. Therefore, It reflects judicious financial administration, sound exchange approaches, and vital ventures in key segments. In addition, it means Oman’s expanding competitiveness worldwide. And organize as the country proceeds to pull in venture and manufacture modern exchange organizations. This point of reference holds significant suggestions for Oman’s future direction. The significant exchange excess gives a strong establishment for assisting financial advancement activities. Meanwhile counting framework ventures, innovation-driven businesses, and human capital advancement. Therefore, It fortifies certainty in Oman’s financial viewpoint and positions. The nation has a favorable goal for financial specialists looking for solidness and development openings. Examining the RO 877 million Surplus in More Detail Preparatory measurements discharged by the National Center for Insights and Data shed light on Oman’s thriving exchange situation. The information uncovers that the Sultanate’s exchange adjustment saw a striking uptick. And coming to an excess of RO 877 million by the conclusion of January 2024. Furthermore, Comparing this rise to the same period in 2023, when the overflow was at RO 686 million. This shows a significant development direction. The factual breakdown exhibits a strong execution in Oman’s send-out segment. Also with stock trades totaling RO 2 billion and 303 million. This marks a commendable 16.7 percent increment from the comparing period within the past year. As of right now, stock imports have increased to RO 1 billion and 426 million Omani riyals, a 10.6% increase over January 2023. The notable increase in Oman’s oil and gas exports, which now stand at RO 1 billion and 450 million. This reflecting a 9.6% increase from January 2023, is responsible for the spike in export values. Rough oil exports have increased to RO 1 billion and 126 million, a significant 30.5 percent increase from the previous year. Non-oil stock trades moreover saw a vigorous development direction, taking off by 38.5 percent to reach RO 749 million. Furthurmore, Mineral items have risen as the best donor among non-oil sends out, with an esteem of RO 356 million, displaying a noteworthy 115.9 percent surge. In terms of exchange accomplices, the Kingdom of Saudi Arabia drove the non-oil send-out exchange, with an esteem of RO 103 million, stamping an 82 percent increment from January 2023. With a value of RO 31 million, the Combined Middle Eastern Emirates emerged as the top destination for Oman’s re-exports. Furthermore, the UAE is positioned to begin with in nations trading with Oman, with an esteem of RO 315 million, stamping a 4.2 percent increment from January 2023. Oman’s Trade Surplus Triumph: Paving the Way for Prosperity Besides, the excess implies a positive adjustment of exchange, showing that Oman’s trades surpass its imports. This not as it were improves the country’s remote trade savings but also strengthens its capacity for the climate outside financial stuns. It underscores Oman’s flexibility in the confront of worldwide instabilities. And situating the country as a beacon of soundness within the locale. As Oman celebrates this noteworthy accomplishment, it reaffirms its commitment to cultivating a dynamic and maintainable economy that benefits all its citizens. The exchange excess of RO 877 million serves as an update of Oman’s potential and assurance to chart an affluent course for its future. In conclusion, Oman’s fulfillment of a trade excess of RO 877 million may be a cause for celebration and reflection. It highlights the nation’s financial ability, strength, and vision for feasible development. As Oman proceeds its travel towards thriving, this point of reference sets

In a key move to reinforce financial improvement and support key framework ventures. The Sultanate of Oman has declared plans to issue government advancement bonds worth OMR75 million. The issuance of OMR75 million in government improvement bonds underscores Oman’s commitment to contributing to its future. These bonds will serve as a pivotal source of financing for a run of formative activities. It aimed at driving financial development, upgrading the framework, and cultivating development over different divisions. The esteem of a modern issuance of government improvement bonds (GDBs) must be worth OMR75 million. Moreover, an alternative to extend with a development period of two long times and an essential intrigued rate (coupon) of 4.85 percent every year. Investment Opportunity: Central Bank of Oman Announces Bond Issue Details According to the Central Bank of Oman’s explanation. The sell-off will take place on Tuesday, April 23, 2024, while memberships will be closed on April 21, 2024. The settlement date of these bonds is Thursday, April 25, 2024; the bonds are due for installment on April 25, 2026. Up until its development date of April 25, 2026. The payments due on the contemporary bonds will be paid twice a year on October 25 and April 25. Membership in this bond issue is accessible to all categories of speculators from the interior and exterior of the Sultanate of Oman (in any case of their nationalities). The bonds will be issued through competitive membership as it were. Speculators must yield their offers through commercial banks working within the Sultanate of Oman during the membership period. In the unlikely event that they so desire, the Central Bank of Oman (CBO) will accept bids from non-banking individuals.  And also teachers who have an estimated value of OMR 1 million or more if they have been approved by the commercial banks they are negotiating with. The government of the Sultanate of Oman, spoken to by the Service of Fund, ensures these bonds straightforwardly and genuinely. Because it is conceivable to borrow against the ensure of these bonds from authorized neighborhood banks. In expansion to the plausibility of managing in them at the winning showcase cost through the Muscat Stock Trade. Note that the points of interest and information of the bonds are apportioned to endorsers of the issue. And will registered and archived within the bond registry. Muscat Clearing and Store Company (MCDC) keeps up and oversees this. Oman’s Banking Sector Sees Modest 1.8% Credit Growth An analysis of traditional commercial banks’ operations between January 2023 and January 2024 reveals continued credit expansion in the Sultanate of Oman. An increase of 1.8 percent in the total amount of credit that banks were permitted to adjust. By the end of January 2024, the credit extended to the private sector had grown by 2.6 percent, or OMR20.1 billion. To the venture thing, the whole speculations of conventional commercial banks in securities. Saw an increment of 28.1 percent to reach approximately OMR5.7 billion by the conclusion of January 2024. This includes investments in government advancement bonds (GDBs). Which decreased by 15% from the same time last year to OMR1.8 billion. As for their speculations in remote securities, they have seen an increment of 156.3 percent to reach OMR2.4 billion by the conclusion of January 2024. At the end of January 2024, the total amount of liabilities includes stores with traditional commercial banks. Therefore,  expected to have increased by 12.3% to OMR24.1 billion. Among the full stores, the government’s stores with commercial banks recorded an increment of 0.3 percent to reach approximately OMR5.2 billion. During the same year, it increased by 60% to reach almost OMR2.3 billion for stores owned by open-segment institutions.As of January 2024, private division stores accounted for 66 percent of all stores with conventional commercial banks, with an increase of 10.5 percent to reach 15.9 billion Omani riyals.

Oman’s Obligation Capital Market saw a significant decline, worsened by the government’s proactive debt repayment. According to a recent Fitch Ratings report, the market experienced a 7% year-on-year reduction, bringing total outstanding debt to $44 billion in 2023. The main reason behind this decrease is the government’s use of budget surplus from high oil prices to pay off its debts early. This strategic move demonstrates Oman’s commitment to fiscal responsibility and debt management, leading to a decrease in overall debt burden and improved financial stability. The Fitch report notes Oman’s increasing sukuk share, hitting 21.1% in 2023 from 18% prior, signaling the growth of Islamic finance in Oman. Oman’s debt capital market (DCM) contracted by 7% to USD 44 billion in 2023, as the government prepaid more debt with a surplus from high oil prices. The Omani DCM showcase is in the early improvement stages and is the second-smallest among GCC nations. Nonetheless, the government has taken initiatives to develop the market. This includes the Financial Services Authority’s (FSA) newly published Sukuk and Bond Regulation, a crucial step in DCM development, ensuring regulatory clarity. The Ministry of Finance also launched its Sustainable Finance Framework in January. Under this framework, it aims to issue green, social, and sustainable sukuk, bonds, or loans. Oman’s Financial Sector Embraces New Regulations to Foster Confidence and Sustainability The unused controls are anticipated to assist in constructing certainty among both sharia-sensitive and ESG-sensitive financial specialists. The FSA regulates sukuk through a chapter on sharia oversight. Supporters must provide an annual report proving compliance from the day of issuance. Modern control also includes disclosure requirements for green and sustainable bonds. They must appoint an independent external reviewer to assess ESG compliance. Beneath the control, obligation guarantors are required to yield a credit rating certificate. The Maintainable Fund System doesn’t consider it a default or breach if the government fails to adhere to it. Oman saw a 231% increase in sukuk issuance to $1.2 billion in 2023, while bond issuance dropped 56% to $4.8 billion. Omani sukuk outstanding totaled $7.5 billion, with 67% issued by the government and 33% by corporations, all rated ‘BB+’ by Fitch in Q1 2024. Fitch upgraded Oman to ‘BB+’ with a Stable Outlook in September 2023. A short-term surge is unlikely in the DCM estimate due to Oman’s budget sign in January 2024. Specialists will pay down government obligations, enhancing the sovereign’s versatility. Increased social investing will slow the debt reduction pace in 2024 compared to 2023. However, over the medium-to-long term, the DCM market is expected to grow, supported by government initiatives and issuance from paramount and government-related entities. Islamic Finance Flourishes: Oman’s Sector Growth and Banking Outlook The Islamic fund industry in Oman crossed USD28 billion as of the end of 2023, Fitch gauges, the part between Islamic managing an account resource (66%), extraordinary sukuk (32%), and takaful commitments (2%). In terms of financial division resources (2022: 16.4%), division financing (2022: 18.6%), and division shops (2022: 18.8%), the Islamic managing an account advertise share is 17.4% at the end of 2023. The financing of Islamic banks increased by 11.8% year over year, outpacing the 2.5% growth of regular banks. In any case, stores for Islamic and routine banks developed at the same level, of approximately 12.5% yoy. Our segment viewpoint for Omani banks is unbiased for 2024. We anticipate genuine GDP to develop by 2% in 2024 (2023: 4.3%), which can go back to the income and commerce era for banks. Fitch anticipates division credit development of approximately 6% in 2024, driven by higher credit requests from corporates, in line with higher government investing in foundation ventures as a portion of Vision 2040. Islamic banks have smaller capital bases than their customary peers, ruining their capacity to participate in expansive government financing ventures.