Muscat, Masqaţ, Oman
At the Central Bank of Oman (CBO), my focus has been on delivering in-depth economic analysis, drafting policy briefs, research papers, and strategic reports, and presenting evidence-based policy recommendations to top decision-makers. I lead high-quality economic research to support informed policymaking, assess domestic and global risks and vulnerabilities, and promote institutional thought leadership in monetary and macroeconomic policy. My work also involves exploring emerging areas such as CBDCs, climate-related financial risks, and transformative financial technologies. Previously, as Deputy Governor at the Central Bank of Sudan (CBOS), my work contributed significantly to economic reform initiatives, despite the challenges following the military coup. Our efforts were directed towards establishing macroeconomic stability, a mission that continues to drive my professional endeavors, ensuring that policies I help shape are both innovative and grounded in rigorous analysis. I led key portfolios, including monetary policy, economic research, payment systems, and financial stability, while also advising and supporting the Governor in executing the CBOS's core functions. Additionally, I represented the CBOS in high level institutional engagements with the IMF, WBG, BIS, and regional economic forums.
Key Duties & Responsibilities: Analyzing and designing an appropriate mix of monetary, and exchange rate policies to promote and maintain macroeconomic stability, addressing issues of good economic governance, examining issues of current account sustainability. Writing technical and non-technical reports and policy briefs on economic trends and forecasts. Tracking Oman economic developments and providing policy advice on macroeconomic issues through policy analysis and the production of macroeconomic forecasts. Responsible for providing advice, developing policies, conducting research, and delivering teaching in assigned fields. Contributing to the world-class, ground-breaking research the Central Bank of Oman (CBO) conducts on policy-related issues. Responsible for external sector development, Modeling the external sector of Oman economy, as measured by the overall balance of payments, building and estimating external sector model, which can serve as a veritable tool for assessing and making forecast of external sector indicators, and developing criteria for assessing sustainability of current account imbalances, Assisting staff economists with their research and contribute to the monetary policy process by conducting advanced econometric analysis of current economic developments. Analyzing developments in field of expertise and draws conclusions about implications for outlook and economy. Guiding the formulation of macroeconomic policies to achieve economic goals and interaction between different macroeconomic policies. Handling matters related to collaboration/liaison with multi-lateral/international agencies like IMF, World Bank, etc Handling matters in the areas of digital economy financial technologies relevant to Oman Banking Sector, such as Fintech, Fintech Regulatory Sandbox, AI, Blockchain, Big Data, Central Bank Digital Currency (CBDC), Cloud services and the related Cyber Risks.
Following the formation of a transitional Government in 2019, Sudan emerged on a difficult economic reform path in which the Central Bank plays a key role in establishing macroeconomic stability. After successfully entering the HIPC debt restructuring process and agreeing with the IMF on an Extended Credit Facility (ECF), I was brought in to help lead the economic reform program. On Nov 2nd 2021 removed from my position by Sudan’s military (leader), General Abdel Fattah al-Burhan in the wake of the 25th Military Coup. The coup, in effect, halted the economic reform program under the ECF arrangement that was supposed to pave the way for debt relief in June 2024. It is worth remembering, the October 2021 coup by Burhan and Hemedti cut short that economic reform path by civilian led government. Key Responsibilities: I led, in coordination with the Minister of Finance & Economic Planning (MOFEP) Central Bank of Sudan (CBOS) Governor, and other line ministries, the economic reform dialogue with international financial institutions (IMF, World Bank, African Development Bank, and other development partners). I worked to modernize the organizational structure of the Central Bank of Sudan (CBOS) to strengthen AML/CFT compliance, introduce a bank resolution process, among other reforms, the is too crucial for paving the way for establishing correspondent banking relationships with regional and international banks. Handled matters for banking sector reform, we had fully finalized the draft of the CBOS Act for year 2021, and Banking Business Act including the bank resolution process/regime, and assessment of the Asset Quality Review (AQR) Phase I. I worked to enhance economic governance and reducing the opportunities for corruption in Sudan, with main focus on the enhancing CBOS governance and operations, strengthening financial sector oversight, and credit rationing to SOEs in order to create a more enabling environment for private sector-led growth.
Key Responsibilities • Contribute to the design of the monetary policies through setting quantitative targets concerning the inflation as the ultimate target and monetary aggregate as a nominal anchor, conduct research and studies related to the monetary policies, evaluate the monetary policies pursued by the CBOS to ensure proper implementation and conduct of monetary policies especially with respect to inflation and monetary targets. • Analyze and design an appropriate mix of monetary, and exchange rate policies to promote and maintain macroeconomic stability. • Creating, as well as using, various econometric modelling techniques to develop forecasts. • Preparation of the weekly, monthly and annually bulletins and reports. This involves the preparation of various reports of economic and financial data, both for internal and external distribution • Delivering numerous oral and visual presentations, which non-economist audiences must be able to understand thoroughly in order to inform decisions
Key Responsibilities • Monitoring the developments in international standards and studying the possibility of applying them to the Sudanese environment, such as Basel, IFSB, AAIOFI. • Preparing studies on the new changes in the supervisory rules, regulations and policies, taking into account the factors influencing the involved parties, relying on market developments. • Conduct of self-evaluation on compliance with Basel Core Principles for effective Supervision. • Monitoring and analyzing the financial performance indicators of banks and financial institutions and their impact on the macro indicators. • Design of banking regulation and financial stability policies particularly in improving financial sector development. • Production of Financial Stability Report to assess key risks facing the financial system. • Stress Tests for Sudan’s Banking Sector; Conduct with assistance of IMF staff macro stress testing model that link banks indicators to macroeconomic indicators based on the IMF Template. To determine whether banks have enough capital to withstand the impact of adverse developments. • Implementation of Financial Stability Assessment Framework incorporating : Financial stability Report (FSR) in prescribed Format, Financial stability Assessment Matrix, GL YOR five-tier coding system, Financial Soundness Indicators (FSIs), Macro-prudential analysis, Stress Testing, Household sector Survey Results, and SHIELDS Rating System. Key Achievements • Developed with assistance of IMF staff macro stress testing model that link banks indicators to macroeconomic indicators. I estimated using macroeconomic and banking sector data, a macro –credit risk model for projecting the default rate for Sudanese Banks by a simple Ordinary Least Squire (OLS) regression Model. • Developed a regulatory and supervisory framework which assisted the CBOS to play its role in a proper way.
Update and develop a Econometrics Model for Transfer Restrictions (TR) ratings for MIGA sample of countries and compare this model with the Standard & poor’s (S & P) methodology in order to highlight the main differences, assessment of MIGA Transfer Restriction and presents the key determinants of the final model, and risk assessment for Transfer & Convertibility Restrictions, which include the following risk factors: • Exchange regime (flexible, fixed, currency board, etc.). • FX liquidity position and its likely development over the period of guarantee. • Extent of macro-economic imbalances (fiscal, current account...). • External debt service ratio. • External debt position, composition (short vs. Long-term). • Dependence on key exports. • Vulnerability to commodity price swings. • Volatility of economic growth, vulnerability to shocks. • Track record of transfer and convertibility restriction/delays. Key Achievements • Developed an Econometrics Model for Transfer Restrictions (TR) ratings for MIGA sample of countries and compared it with the Standard & poor’s (S & P) methodology in order to highlight the main differences, assessment of MIGA Transfer Restriction and presents the key determinants of the final model, and risk assessment for Transfer & Convertibility Restrictions, period June – Sep 2015.
Duties & Responsibilities “Financial Analyst” position in the Khartoum Stock Exchange, I was responsible for conducting the long & short-range studies, forecast the stock market trends, policies & controls that promote the market efficiency in the attainment of the objectives. Key Responsibilities • Preparation of daily, weekly, and monthly trading activity bulletins. • Analyzing the market trend and movement. • Preparation of user guides of trading procedures. • Preparation of annual report.