Banks coping with tougher environment – Omani stress tests
Central bank is building financial stability capabilities
Banks in Oman are well placed to cope with the tougher environment implied by lower oil prices, and the central bank has been building its financial stability capabilities, the Central Bank of Oman says in its latest financial stability report.
Executive president Hamood Sangour al-Zadjali writes that the Omani banking sector continues to "dominate the financial landscape" of Oman, but according to the central bank's stress tests in 2015, credit risk is "well contained", and institutions are well capitalised, profitable and "fairly liquid".
The central bank has been working towards implementing Basel III and upgrading its "suite" of stress-testing models to incorporate real-estate stress. It is in the "advanced stages" of building an early-warning system, and has completed the first phase of resolution planning for its one systemically important domestic bank, Bank Muscat.
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