The Promotional Role of Commercial Banks in Economic Development in Essay

The Promotional Role of Commercial Banks in Economic Development in Oman - Essay Example The paper tells that there has been favorable progress made towards developing economic well being of the people worldwide. However, there has not been a significant development realized in Oman in various fields. However, it has been realized that commercial banks can significantly boost the level of development in Oman. This can be realized through promoting its operations. This paper is set to explore the subject of promoting the role of commercial banks in the economic development of Oman. In this case, the paper is set to achieve various research objectives among them are finding out the role of commercial banks in developing the economy of Oman, and identifying the functions of commercial banks in Oman. With a view to realizing the objectives set above, the following research questions shall be of prime importance. First, what is the promotion role of commercial banks in developing Oman’s economy? Secondly, what are the advantages of commercial banks? Thirdly, what is th e relationship between commercial banks and the development of Oman’s economy? Last but not least what is the contribution of Oman’s banks in the development of the economy? Future Plans For a follow-up plan, a study shall be conducted and shall involve collecting of primary data. The collection of primary data will be done using a questionnaire. Both quantitative data and qualitative data will be collected from selected commercial banks. Questionnaires will be randomly administered to the chosen participants and will be carried out one by one. After this process, data shall be analyzed through coding first and then later through triangulation of the coded data. Descriptive techniques such as tables, charts, percentages, and charts will then be used to present the analyzed data. Secondary data will also be used in the analysis of the promotion role of commercial banks in economic development, and make a comparison with already conducted studies on the same topic. The f inal process shall involve discussing the findings. In this case, obtained results will be compared with given theories in the literature. This will give the researcher an insight concerning the contribution of commercial banks to Oman’s economy. Last but not least, recommendations shall about the study shall be