Financial sector is considered as the foundation of economic growth. The banking sector in Oman is working well for better customer service. According to the annual report of the Oman Banking sector, it has been believed that the stable banking sector has been operating its banking services in recent years. With the increasing role of banking sector in Oman, the Central Bank reported, the banking sector is playing an important role in Oman’s economic growth. Bank assets and responsibilities are important to determine business development. Liabilities are important for the organizations. When the organizations are moving toward its growth, the growth needs more financial capital. At that time organizations acquire finance by using the different external sources such as banks, financial institutions, long term and short-term loans. These sources provide support to the organization and it helps the organization to win more profits. In this way, the liabilities are helpful for the organizations in the achievement of its organizational goal of profit maximization.
Keywords: – Banking, Liabilities, Profitability, Financial performance, economic development.
Dr. Mohammad Noor Alam, Dr. Shariq Mohammed