OMAN CREDIT OUTLOOK STRENGTHENS AS OIA REFORMS DRIVE FINANCIAL RESILIENCE

MUSCAT, Oman, April 17, 2025 /PRNewswire/ -- The Sultanate of Oman's recent credit rating affirmation at BBB- with a positive outlook by Standard & Poor's (March 2025) reflects the government's effective fiscal consolidation efforts and improved economic management. A key contributor to this achievement is Oman Investment Authority (OIA), the country's sovereign wealth fund, which since assuming oversight of state-owned companies under the National Development Fund in 2020, has implemented robust governance reforms and targeted debt reduction strategies. These measures strengthened the financial positions of portfolio companies, directly contributing to Oman's enhanced credit profile and overall financial resilience.

OIA successfully reduced the aggerate debt of its subsidiaries from USD 29.64 billion in 2021 to USD 23.92 billion by the end of Q3 2024. A notable example is OQ Group, Oman's integrated energy company, which achieved a credit rating upgrade that led to a marked improvement in its net debt-to-profit ratio, enhancing both its financial efficiency and long-term sustainability. In parallel, OIA renegotiated loan terms with banking partners to secure more cost-effective and flexible financing structures, further reinforcing the operational resilience of its portfolio.

OIA also significantly reduced reliance on government guarantees to enhance the financial independence and governance of its key subsidiaries. Guarantees extended to major companies such as OQ Group, Asyad Group, Oman's logistics provider,  and Nama, Oman's primary provider of electricity, water and wastewater services, were reduced from USD 8.32 billion in 2021 to USD 4.68 billion by 2024, with no new guarantees issued since. In addition, Duqm Refinery and Petrochemical Industries Company (OQ8) recently passed the Lenders Reliability Test (LRT) enabling it to unlock over USD 2 billion in shareholder guarantees. This decisive shift has lowered fiscal risk for the government and signaled a new era of accountability, encouraging companies to leverage their own financial strength and drive future growth.

OIA has also further strengthened transparency across its portfolio by mandating financial performance disclosure across its portfolio. Simultaneously, strategic partnerships have attracted foreign investment into priority sectors, contributing to stronger foreign currency reserves.

These collective initiatives demonstrate OIA's commitment to Oman Vision 2040 by reinforcing confidence in the Omani economy and supporting long-term sustainability. They also position the Sultanate of Oman as a trusted and competitive investment destination.

Contact: 
Al Yaqdhan Ali Al Abri
Senior Officer - Strategic Communication
Tel: +968 24745659
alyaqdhan.alabri@oia.gov.om 

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

OMAN CREDIT OUTLOOK STRENGTHENS AS OIA REFORMS DRIVE FINANCIAL RESILIENCE

FREMONT, Calif., May 1, 2025 /PRNewswire/ -- Anviz, a global leader in intelligent security solutions, proudly announces the launch of W2 Face, its latest hybrid biometric access control and attendance terminal. Designed to meet the evolving needs of modern enterprises, the W2 Face combines facial recognition, fingerprint authentication, and RFID capabilities in a compact, intelligent device built for today's dynamic workplaces.

Responding to Market Evolution

As the access control landscape shifts toward integrated multi-biometric solutions, businesses increasingly seek systems that enhance security and operational efficiency. Market analysis conducted by Anviz has revealed key trends driving this demand:

The W2 Face addresses these demands head-on, delivering a comprehensive, easy-to-deploy solution suited to various professional environments.

W2 Face: Key Features & Innovations

1. Dual Biometric Authentication

W2 Face integrates advanced facial recognition and fingerprint scanning, supported by liveness detection, to defend against spoofing via photos or video. This dual-layer security is ideal for high-traffic entry points.

2. Multi-Communication Flexibility

With support for both Ethernet and Wi-Fi, the device can function in networked or standalone configurations. Integration with Anviz's CrossChex Cloud enables remote management, simplifying operations across multiple locations.

3. Optimized for Small and Medium Enterprises

4. Versatile Access Control Capabilities

Customizable relay settings and doorbell integration make the W2 Face adaptable to various access scenarios, from open office environments to restricted zones.

Why Choose W2 Face?

The W2 Face exemplifies Anviz's ongoing innovation in secure access technology:

Certified for Global Standards

W2 Face complies with CE and FCC certifications, ensuring adherence to the highest international safety and performance standards. Its modular architecture allows for scalable updates, protecting customer investments over time.

About Anviz

Anviz, a brand of Xthings, is a global leader in converged intelligent security solutions for SMBs and enterprise organizations. Anviz offers comprehensive biometrics, video surveillance, and security management systems powered by cloud, Internet of Things (IoT), and AI technologies. Anviz serves various industries, including commercial, education, manufacturing, and retail sectors, supporting over 200,000 businesses in creating smarter, safer, and more secure environments.

For more information on the W2 Face or to request a demo, please visit www.anviz.com.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Anviz Introduces W2 Face: Comprehensive Biometric Access Control Solution for Modern Enterprises