MUSCAT: The fifth conference of the Regional Network of Central Banks began in Muscat on Wednesday, hosted by the Central Bank of Oman (CBO) in cooperation with the World Bank Group’s Middle East, North Africa, Afghanistan and Pakistan Regional Office. The two-day event brings together policymakers, economists and researchers to strengthen the role of scientific research in shaping economic and financial policies across the region.

The conference aims to deepen dialogue on the development challenges and opportunities facing regional economies while enhancing the use of analytical research in decision-making and policy formulation. Discussions also focus on strengthening partnerships with national, regional and international experts, building the research capacity of local specialists and expanding knowledge exchange with the broader research community.

Ahmed bin Jaafar al Musalmi, Governor of the Central Bank of Oman, said hosting the conference reflects Oman’s commitment to promoting regional cooperation, encouraging knowledge exchange and fostering constructive dialogue between academia and industry. He noted that the Regional Research Network has evolved into an important platform for exchanging analytical perspectives, discussing policy issues and strengthening the capabilities of regional researchers to address rapidly changing economic and financial developments.

Al Musalmi highlighted that this year’s conference focuses on strengthening resilience and advancing structural reforms amid rising global volatility, geopolitical tensions, climate risks and financial pressures. He stressed that improving analytical frameworks and understanding economic interconnections are essential to supporting policymakers in designing forward-looking policies that safeguard macroeconomic and financial stability.

The governor also announced the CBO’s plan to launch its first Research Governance Framework in 2026. The framework will outline the bank’s annual research agenda, promote collaborative projects between internal experts and external researchers, and establish partnerships with national and international academic institutions. It will also introduce a Central Bank of Oman Research Award aimed at encouraging greater participation of young researchers in economic studies.

The conference programme includes a series of sessions and training workshops designed to strengthen research capacity within institutions responsible for developing economic and financial policies. Fifteen research papers selected through an international competition will be presented, addressing topics such as economic resilience, fiscal and monetary policy transformation, technological change and the growing influence of artificial intelligence, fintech and big data on macroeconomic strategies.

Workshops will cover the use of non-traditional data in macroeconomic research, machine learning applications in economic policy analysis and natural language processing in economic texts. Experts will also examine ways to build more resilient economies capable of addressing structural challenges such as oil dependency, unemployment and the limited contribution of the private sector to growth.

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