This Week in Economy: Halal Rules and Omani Rials Growth
The financial sector in the Sultanate of Oman demonstrated strong performance last week, with the Muscat Stock Exchange index reaching its highest level in 18 years, closing at 13,383 points. This was driven by rising shares of banks and investment companies benefiting from their positive financial results in the first half of the year. Additionally, private sector deposits in commercial banks increased by 12.45%, reaching 19.3 billion Omani riyals by the end of June 2026, compared to 17.1 billion riyals in the previous year. This comes alongside efforts to strengthen the national halal ecosystem through organizing the halal tourism market and issuing halal certificates for restaurants. Moreover, 20 industrial projects were localized in Nizwa with an investment exceeding 12 million Omani riyals, as part of ongoing efforts to promote industrial development and enhance various economic sectors in the country.
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