CBFS joins hands with S&P to organise seminar on Sovereign and Bank Ratings

MUSCAT: The College of Banking and Financial Studies (CBFS) collaborated with the reputed rating agency Standard and Poor’s (S & P) Global Ratings to hold a seminar on Sovereign and Bank Ratings. Participants were drawn from various commercial banks, Central Bank of Oman (CBO), State General reserve Fund (SGRF) and pension funds. The seminar was facilitated by 3 senior officials of S & P Global ratings-Christian Esters (Senior Director and Analytical Manager in Sovereign Ratings Group leading the EMEA Developing Markets team), Dr Mohamed Damak (Global Head of Islamic Finance, Director / Sector Lead Financial Services Group).
The focus of the seminar was to gain an understanding of the framework and methodology used to arrive at sovereign ratings and bank ratings. The coverage, inter alia, encompassed the fundamentals of credit ratings, overview of credit ratings, sovereign ratings and criteria, introduction to bank ratings, banking industry and country risk assessment, bank specific rating factors, external support factors and GCC banking sector outlook. In the words of Dr Ahmed bin Mohsin al Ghassani, Dean, CBFS, “The College is in the forefront of skills development for the banking and financial sectors in the country.  We view our collaboration with S & P Global ratings as a significant step to increase awareness about the bank and country risk ratings which have assumed greater significance in the current economic scenario”.