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CBO

OMAN - Finance

Khalfan Mohamed Al Barwani

Chairman of the Board of Directors, College of Banking and Financial Studies & Executive Vice President, Investment Sector, Central Bank of Oman (CBO)

Bio

Khalfan Mohamed Al Barwani has served in different capacities in various sectors, including upstream oil industry, central banking, and higher education. With over 30 years of specialized experience, he currently serves as chairman of the board at the College of Banking and Financial Studies and is member of the board at OMRAN chairing the Audit and Risk Committee. Over time, he has served as a member in a number of government committees. Al Barwani holds a PhD of philosophy in economics in the field of international money and finance from Claremont Graduate University, School of Politics and Economics (SPE) in Los Angeles, dual masters of arts degrees, one in international economic policy and other in applied economics, and a bachelor of science in business administration/economics from various universities in the US.

"CBFS is affiliated with the CBO and receives funding support from CBO as well as the banking sector."
TBY talks to Khalfan Mohamed Al Barwani, Chairman of the Board of Directors, College of Banking and Financial Studies &
Executive Vice President, Investment Sector of the Central Bank of Oman (CBO).
Could you give us an overview of the college and some of its major highlights in the past year?

CBFS is affiliated with the CBO and receives funding support from CBO as well as the banking sector. Since its establishment in 1983, the college has sought to work closely with the market, the financial sector, in particular, to identify skill gaps as well as skills of the future and accordingly provide the required knowledge. In 2021, we conducted a survey of the financial sector for the purpose of meeting current market demands and come up with programs that we will implement in the coming academic year. Among these are a doctorate in business administration in association with Stryker University in the UK and a master’s degree in digital transformation, also in association with Stryker University. Digital transformation is part of the future and is expected to help the financial sector in minimizing transaction costs, improving customer services, as well as enhancing overall efficiency. We will also introduce two fintech programs. One will be at a professional level, where we will train leaders and decision makers with respect to what they can expect in digital technology. The second is purely technical, namely AI, cloud computing, blockchain, and other areas of emerging technologies.

What are your main priorities and goals for the year ahead?

The priorities on the agenda for this academic year are to come up with a strategic plan for CBFS that should encompass our values that are anchored on academic excellence. Local and international accreditation for CBFS are critical as well, to ensure we do not just remain an Omani institution. In addition to academic and trading programs, CBFS engages in consultancy work with banks and financial institutions. As a long-term objective, CBFS plans to become a self-sustained institution financially despite receiving funding support from CBO and the banking sector in Oman. Additionally, CBFS provides professional programs such as CFA and ACCA in order to meet the market demands but also as an additional source of revenue for the college.

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