National Bank of Oman’s Online Conference Examines Economic Impacts of COVID-19

Press release
Published May 20th, 2020 - 09:09 GMT
National Bank of Oman’s Online Conference Examines Economic Impacts of COVID-19
National Bank of Oman
Highlights
National Bank of Oman’s Investment Banking division held an exclusive virtual conference entitled ‘The Gulf Economies Post COVID-19’.

Continuing to support the Sultanate as it braces the economic impacts of the coronavirus (COVID-19) pandemic, National Bank of Oman’s Investment Banking division held an exclusive virtual conference entitled ‘The Gulf Economies Post COVID-19’. Led by Dr. John Sfakianakis, Chief Economist and Head of Research at the Gulf Research Center in Riyadh, the WebEx-based event discussed the future outlook of GCC economies, and in particular Oman, in light of impacted oil prices relating to the pandemic.

Yaseen Al Lawati, Head of Investment Banking at NBO, said, “At NBO, we are proud to be at the forefront of such inspiring events that serve to stimulate the minds of leaders in government, business and academia. Dr. John Sfakianakis is one of the region’s leading economists and he shed light on how Oman can mitigate the long-term implications of the virus by continuing to centre its efforts on economic diversification. The pandemic has put us, and the world, in a situation we could not have expected, yet Oman is agile and ready to face the challenges head on.”

The conference included the participation of policy makers, investors, business owners, pension funds, investment companies and banks. It focused on the way forward for oil-based economies, the impact of falling oil prices and future projections, in addition to fixed income and equity markets.

NBO hosts and partners with a number of leading conferences and events that add value to the development and diversification of the economy. The bank is also at the forefront of a nationwide call to action for the fight against the ongoing outbreak. This includes an OMR 1 million relief initiative for health services, as well as financial aid packages for its customers struggling from job loss or salary reduction as a result of the pandemic.

Background Information

National Bank of Oman

Founded in 1973, National Bank of Oman was the country’s first local bank, forging a rich history with Oman’s local businesses and its economy at large. Today, it is one of the largest banks in Oman, with a paid up capital of OMR (Omani Rials) 110.8 million (US$ 288 million) and a regulatory capital of OMR 377.8 million (US$ 981 million)*.​

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