Building Oman as a regional centre for Islamic finance and capital markets

Oman is an up and coming player in the Islamic and sustainable finance sphere. 
Interesting discussions at the Islamic Finance News Oman Forum 2023.

Luma Saqqaf moderating two sessions: the first panel consisted of Mohamad Noranuar Sajari, Suad Al Balushi, FRM, ACI and Vinod Sadhwani where the session examined the building of Oman as a regional center for Islamic structured finance and capital markets.

The second panel. Luma was joined by Kemal Rizadi Arbi, CPIF,   shahariah shaharudin, Talha Ahmed Khan. ACA, FCCAand Mohamad Noranuar Sajari to explore Islamic Sustainable Finance & Investment in Oman.

Interesting Oman Facts:

In 2022, Oman announced a target to achieve net zero emissions by 2050 and began reducing fossil fuel use in its domestic energy mix.

Oil and gas today represent around 60% of Oman’s export income, and domestic natural gas accounts for over 95% of the country’s electricity generation. The Oman Vision 2040 dovetails with Oman’s climate commitments and Oman’s ambition to increase real GDP growth from 3.6% on average to 5% from 2030 onwards and is a based on a vision of reducing the oil share of its GDP to 16% in 2030 and 8.4% by 2040 and to increase the non-oil share of its GDP to 91.6% by 2040.

Oman is planning to cost-effectively achieve its targets of renewables reaching 20% of the country’s electricity mix by 2030 – and 39% by 2040. According to International Energy Agency (IEA) it is on track for example to become the sixth largest exporter of hydrogen globally, and the largest in the Middle East, by 2030.