Banking sector in Oman

The banking sector in Oman is a key component of its economy, providing financial services like savings accounts, loans, and currency exchange to individuals, businesses, and government entities. It includes both local banks and branches of international banks, regulated by the Central Bank of Oman, which ensures stability and sound operations. The sector supports economic growth by facilitating investment, trade, and development projects. Advances in technology have also led to digital banking services, making banking more accessible and efficient. Overall, Oman’s banking sector plays a crucial role in maintaining financial stability and fostering economic progress.