OBG interviewed Kris Babicci, the CEO of BankDhofar, about the post-crisis re-emergence of the banking sector in Oman.
To what degree have Omani banks fared better than counterparts in the rest of the region during the credit crunch?
Babicci: The strong, conservative nature of our regulator has helped Omani banks fare better than their counterparts in the region. The government and the Central Bank of Oman (CBO) have done a great job during this period. Omanis remember previous down cycles, such as the Asian financial crisis last decade and the more recent real estate collapse. This has led to more conservative policies and these policies are the reason we've fared better in Oman. The market is recovering and there are many opportunities for the Bank to capitalise on.
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