VOL. XLV
No 12
25-March-2002
OMAN
Omani Banks Move To Address New Challenges
Quite apart from 11 September, a volatile oil priceenvironment and a global economic downturn, 2001 was not a good year for Omanibanks as the International Account Standards 39 (IAS39) and asset qualitydeterioration combined to create a series of new challenges. The upshot was analmost sector-wide reduction in profitability on the back of significantlyhigher provisioning levels after a similar rise in 2000 (see MEES, 2...
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