Banking and finance in Oman: banks, the stock exchange and Islamic finance

Oman's banking system is stable, well regulated by the Central Bank of Oman and built around a currency pegged to the US dollar since 1986.

Main banks

Bank Muscat is the largest bank, alongside institutions such as National Bank of Oman, Bank Dhofar, Sohar International, Oman Arab Bank and HSBC Oman. Several specialised Islamic banks and Islamic windows of conventional banks operate under Sharia-compliant rules.

Opening an account

Residents with a residence card can open current and savings accounts, get debit and credit cards and use online banking. Owning a home and holding the owner residence permit allows foreign owners to bank locally too. Non-residents have more limited options.

Mortgages for foreigners

Several banks finance homes in approved projects for foreign buyers, usually up to 20 years, subject to income and residency checks. Islamic home finance is also available.

The stock exchange

The Muscat Stock Exchange (MSX) lists banks, telecoms, industrial and service companies. Foreign investors can buy most listed shares, and recent government IPOs have broadened the market.

Money transfers

There are no currency controls; money can be transferred freely in and out of Oman, subject to standard anti-money-laundering checks.

How R2LUX helps

We work with banks that finance homes in the projects we sell. Current listings are below.