A Verisk Business
Verisk Financial Research Logo
Sign In
 
 /  Buy Reports  /  Country Reports  /  Middle East  /  Oman

Oman Country Report

Already purchased?
  • Published Date: September 2017

A comprehensive overview of the cards, payments and consumer banking market in Oman.

OMAN CARDS & PAYMENTS REPORT | KEY FACTS

  • Oman's banking sector is concentrated with the top five banks holding 85 per cent of assets.
  • Competition has intensified in the last five years, however, with the emergence of an Islamic banking sector.
  • Personal loans are the most popular form of consumer finance in Oman. The mortgage market is relatively small and accounts for just 11 per cent of total consumer outstandings.
  • Cash remains the predominant payment mode in Oman, especially for small-value purchases. However, cash is increasingly being replaced by payment cards.
  • The total number of payment cards doubled between 2010 and 2016. Debit cards account for 94 per cent of cards in circulation.
  • Cards are primarily used to withdraw cash. Purchase transactions account for just 17 per cent of billed volume in 2016.
  • The credit card base is small with a penetration rate of just seven per cent. Credit card eligibility is based on monthly income and employment status which restricts growth in cardholder numbers.
  • However, in line with other Gulf countries, Oman's credit cards market is extremely profitable with profit per card estimated at over $100 in 2016.
  • There is no domestic payment scheme in Oman. Visa has a commanding market share of both debit and credit cards.
  • The country's largest bank, Bank Muscat, holds a dominant position in both the issuing and acquiring markets.

Oman Payments Research | Report Contents

Demographics and Economy:
Outlines the key metrics and trends which influence the development of retail banking and payments in the country:

  • Population structure
  • Income
  • Mobile and internet use
  • Economic data

Retail Banking:
Explores the structure of the local banking system, its infrastructure and the leading players. Data includes:

  • Aggregate retail banking indicators
  • Bank branch, ATMs and POS terminals
  • The profitability of top banks

Consumer Finance:
Overview of consumer finance in the country. Categories analysed include:

  • Mortgage loans
  • Personal loans
  • Credit card loans
  • Vehicle loans

Credit Cards:
Industry-leading credit card coverage. We detail the past present and future of the industry through our data and commentary, including:

  • Market size split by consumer and commercial credit cards: number of cards, transaction volume, billed volume
  • Profit pool analysis
  • Competitive landscape: networks, issuers

Debit Cards:

  • Market size: number of cards, transaction volume, billed volume
  • Competitive landscape: networks, issuers

Prepaid Cards:

  • Market size: number of cards, transaction volume, billed volume

MORE MIDDLE EAST PAYMENTS REPORTS

Verisk reports deliver invaluable market and competitor intelligence on payments cards, e-money, acquiring/processing, retail banking, and consumer credit throughout the Middle East. Analysts and researchers use both primary and secondary source data and conduct in-depth interviews with senior industry executives and Middle East experts.

See more Middle East Country Reports or explore the full range of worldwide cards & payments reports available for 72 markets world-wide.

To find out more or to discuss subscription options, please email: research_enquiries@verisk.com or telephone: +44(0)20 7337 4200.