AlMaimani, Jamal and Johari, Fuadah Binti,(2015), INTERNATIONAL ACCOUNTING AND BUSINESS CONFERENCE 2015, IABC 2015 Enhancing Active Participation of SMEs and Islamic Banks Towards Economic Diversification in Oman. , Procedia Economics and Finance, UNSPECIFIED
Text
Restricted to Repository staff only
Download (906kB) | Request a copy
Restricted to Repository staff only
Download (906kB) | Request a copy
Abstract
Over the last 40 years, Oman has achieved a remarkable economic growth with major efforts to diversify its resources of income
to reduce its dependency on hydrocarbons. The key objective for the government is to boost the role of the private sector and
enhance its participation as a major player in the economy through explicit support of Small and Medium Enterprises. SME
compromises 90% of the total number of companies in the country. With such large domination, the government had designed
and implemented strategies in this direction which involve enhancing rules and regulation as well as institutional infrastructure.
Also, the government, for the first time, in 2011 has adopted the practice of Islamic banking system in order to address Shariah
compliant finance requirement for businesses and projects. This paper is largely based on academic research that will shed light
on aspects related to development of SMEs and Islamic banks in Oman. The study is conceptual in nature and analytical method
is used based on the secondary documentation related to the government policy / programs regarding to enhancing active
participation of SMEs and Islamic Banks towards economic diversification in Oman. It can be concluded that the government is
keen to make such cooperation with the private sector succeed because it will bring about future active participation and
subsequently diversification of the national economy.
Keywords : | Oman; SMEs; Islamic banks; Islamic Finance; private sector; investment., UNSPECIFIED |
---|---|
Journal or Publication Title: | Procedia Economics and Finance |
Volume: | 31 |
Number: | UNSPECIFIED |
Item Type: | Article |
Subjects: | Ekonomi Islam |
Depositing User: | Nila Nurjanah |
Date Deposited: | 16 Dec 2019 03:05 |
Last Modified: | 16 Dec 2019 03:05 |
URI: | https://repofeb.undip.ac.id/id/eprint/142 |