Banks under pressure from slower economy, Islamic finance penetration: Moody's
The three largest Omani banks - Bank Muscat, BankDhofar and National Bank of Oman (NBO) – are facing dual profitability pressures from slowing economic growth and rapid penetration of Islamic finance, which is intensifying competition for financial products, according to global ratings agency Moody's. Moody's considers, however, that Bank Muscat is the best positioned of the three to withstand these pressures. (Muscat Daily)
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