We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

Latest News

Gulf banks safe from Euro woes – Oman central bank gov

Gulf states should be largely unaffected by the euro zone debt crisis as their banks have minimal exposure to the bloc's debt, the head of Oman's central bank said on Friday, though he warned that they would not be immune to a broader global slowdown.


November 19, 2011 1:32 by

“Investments in European bonds by GCC (Gulf Cooperation Council) banks are not so high,” Oman Central Bank Executive President Hamood Sangour al-Zadjali told Reuters on the sidelines of a banking conference in Frankfurt.

“The impact (of euro zone problems) is not going to be great. However, our economies are dependent on oil; if there were to be any major slowdown in Europeand other parts of the world that would mean the impact on the oil price could affect us.”

“But oil prices have been keeping at a reasonable level so that makes us happy.”

While the outlook for the global economy has clouded over following the intensification of the euro crisis, oil prices have shown no sign of dropping to the psychologically significant $100-a-barrel mark.

For oil exporting countries like Oman, high oil prices strengthen national finances. Non-Opec producer Oman depends on crude for 69 percent of its budget revenue and the hydrocarbon sector accounts for 46 percent of economic output.

“We are preparing the budget for next year and there we have assumed that the oil price will be $75. But we think that is conservative pricing and we hope the real prices will be hovering around $100,” Zadjali said.

Oman’s recent growth and inflation forecasts also looked robust despite the rise inEurope’s woes, he added.

“The forecast for growth for this year and next year is 5 percent and inflation is around 4 percent,” he said, adding he did not foresee any revisions to those figures. (By Marc Jones and Eva Kuehnen; Editing by Hugh Lawson)


Tags: , , , , , , , ,

Leave a Comment