IslamicFinance.de

Banks in Oman believe that ease of access to financing and a wider range of options have enhanced the experience of customers but also hold the opinion that excessive consumerism should be avoided through educating the society. Yousuf Al Rawahi, deputy general manager - head of branches, retail and private banking at Ahlibank, says that with the ease of available credit, any society will have consumerism, which has to be managed accordingly. However, he says more efforts are required to promote the culture of saving in Oman. Asad Batla, head of consumer banking at Bank Nizwa, believes that the rate of consumption in Oman has witnessed ‘exponential’ growth. He added that Bank Nizwa encourages its customers to have discipline in their financial decisions, while constantly focusing on helping them lead financially-secure lifestyles.