Regional Network of Central Banks Conference in Muscat: Implications for Investors and Business Owners in Oman
MUSCAT: The fifth conference of the Regional Network of Central Banks commenced in Muscat on Wednesday. This event is hosted by the Central Bank of Oman (CBO) in collaboration with the World Bank Group’s Middle East, North Africa, Afghanistan, and Pakistan Regional Office. Over two days, policymakers, economists, and researchers will convene to enhance the role of scientific research in shaping economic and financial policies throughout the region.
The conference aims to foster discussions on the development challenges and opportunities facing regional economies while promoting the use of analytical research in decision-making and policy formulation. Key topics will include strengthening collaborations with national, regional, and international experts, enhancing the research capabilities of local specialists, and expanding knowledge exchange within the broader research community.
Ahmed bin Jaafar al Musalmi, Governor of the Central Bank of Oman, stated that hosting the conference underscores Oman’s commitment to advancing regional cooperation, facilitating knowledge sharing, and encouraging constructive dialogue between academia and industry. He emphasized that the Regional Research Network has become a vital platform for exchanging analytical insights, discussing policy matters, and enhancing the capacity of regional researchers to respond to swiftly changing economic and financial landscapes.
Al Musalmi pointed out that this year’s conference places a strong emphasis on enhancing resilience and implementing structural reforms in the face of rising global volatility, geopolitical tensions, climate risks, and financial pressures. He asserted that refining analytical frameworks and understanding economic interconnections are crucial for supporting policymakers in developing forward-looking strategies that ensure macroeconomic and financial stability.
Furthermore, the governor announced the CBO’s intention to launch its inaugural Research Governance Framework in 2026. This framework will define the bank’s annual research agenda, promote collaborative projects between internal experts and external researchers, and establish partnerships with both national and international academic institutions. It will also introduce the Central Bank of Oman Research Award to stimulate greater participation from young researchers in economic studies.
The conference agenda features various sessions and training workshops aimed at strengthening research capabilities within institutions responsible for economic and financial policy development. Fifteen research papers, chosen through an international competition, will be presented, focusing on themes such as economic resilience, fiscal and monetary policy transformations, and the impact of technological advancements, including artificial intelligence, fintech, and big data on macroeconomic strategies.
Workshops will explore the application of non-traditional data in macroeconomic research, machine learning techniques in economic policy analysis, and natural language processing within economic texts. Experts will also discuss strategies for building more resilient economies to tackle structural challenges such as oil dependency, unemployment, and the limited role of the private sector in economic growth.
Special Analysis by Omanet | Navigate Oman’s Market
The recent conference hosted by the Central Bank of Oman underscores a pivotal moment for businesses in Oman, emphasizing a collaborative approach to economic resilience amidst global volatility. This creates opportunities for investment in sectors focused on technology and research, as well as the potential for increased support for startups through the Central Bank’s planned initiatives. Smart investors and entrepreneurs should now prioritize building strategic partnerships and enhancing research capabilities to harness emerging trends and navigate evolving economic landscapes effectively.
