Changes to Oman’s hiring laws may leave the sultanate with a skills shortage, experts said.
Oman's Ministry of Manpower on Monday ordered firms to reserve a host of jobs for Omanis in financial sectors such as accounting, auditing, brokerage, insurance, money exchange and property.
The contracts of expatriates who currently occupy these positions will not be renewed and new positions in these categories will be available only to Omanis, according to the ministry’s order.
Labour Minister Mahad Baouin said in comments carried by ONA, the state news agency, that the employment initiatives announced this month should provide up to 20,000 vacancies to Omanis.
The ministry also plans to house 80 per cent of the registered job applicants, Mr Baouin said.
It will encourage young Omanis to enrol in training programmes and acquire more skills, he said.
But market analysts expressed pessimism over the feasibility of such plans, warning of consequences for the small country's economy.
Oman’s rating in all international agencies’ reports has been in constant decline with a negative outlook in the past few years, owing to the fall in oil prices and the pandemic.
"We understand the need to employ Omanis, but there are certain steps that have to be made first," Loai Al Jashmi, a recruitment specialist, told The National.
“Some of these jobs are very specialised and we cannot just have expatriates go and vacate them all of a sudden. We need to recruit Omanis first and train them for such positions beforehand.”
The Omanisation drive started in 2000 as part of the country’s Vision 2020 economic initiative. A number of occupations were reserved for nationals at the time, but rapid negative global developments forced the government to retain its expatriate population.
“We now have another vision, the 2040, but this time with oil prices that are a fraction of what they were back when the 2020 vision was announced,” Mr Salim Al Qahtani, an economic analyst, said.
“The new Omanisation drive might work since we have thousands of graduates with no jobs. But there are challenges. Expatriates have wide and long experience, while our young graduates do not,” he said.
More than 80,000 Omani graduates are currently looking for jobs, according to Ministry of Manpower figures, while about 300,000 expatriates left Oman in 2020. Private companies have struggled to make ends meet owing to poor performance during the pandemic.
But young Omani graduates, who are eager to land their first job, support the decision of job reservations for them.
"It is the right thing to do and something that has to happen. Job reservations will make sure we get employment opportunities. I graduated since last summer but I am still searching," said Ali Al Siyabi, a business graduate from the Modern College of Business & Science.
“Let’s hope the authorities will not change their mind.”
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
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Russia's Muslim Heartlands
Dominic Rubin, Oxford
'Skin'
Dir: Guy Nattiv
Starring: Jamie Bell, Danielle McDonald, Bill Camp, Vera Farmiga
Rating: 3.5/5 stars
T20 World Cup Qualifier
October 18 – November 2
Opening fixtures
Friday, October 18
ICC Academy: 10am, Scotland v Singapore, 2.10pm, Netherlands v Kenya
Zayed Cricket Stadium: 2.10pm, Hong Kong v Ireland, 7.30pm, Oman v UAE
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Ashfaq Ahmed, Rameez Shahzad, Darius D’Silva, Mohammed Usman, Mohammed Boota, Zawar Farid, Ghulam Shabber, Junaid Siddique, Sultan Ahmed, Imran Haider, Waheed Ahmed, Chirag Suri, Zahoor Khan
Players out: Mohammed Naveed, Shaiman Anwar, Qadeer Ahmed
Players in: Junaid Siddique, Darius D’Silva, Waheed Ahmed
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
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