Workshop focuses on unified approach to real estate valuation

Oman Banks Association’s two-day online event by the Royal Institution for Chartered Surveyors was attended by a number of senior bankers as well as representatives from the Central Bank of Oman and the Capital Market Authority

MUSCAT: The Oman Banks Association (OBA), recently organised a two-day workshop by the Royal Institution for Chartered Surveyors (RICS) to develop a unified and educated approach to real estate valuation for the financial sector in Oman.

The online event was attended by a number of senior bankers as well as representatives from the Central Bank of Oman and the Capital Market Authority.

The programme covered the following modules:

Introduction to international valuation standards;

Introduction to the 7-tier valuation framework;

Residential & commercial valuation services; and

Best practices in procuring valuation services.

The Royal Institution of Chartered Surveyors is a professional body promoting and enforcing the highest international standards in the valuation, management and development of land, real estate, construction, and infrastructure. RICS development and enforcement of leading international standards, endorsed by entities such as IMF, UN and the World Bank, protects consumers and businesses by ensuring the utmost level of professionalism and best practice is employed across the built and natural environment.

The Oman Banks Association is a non-profit professional association created to represent the banking sector, promote Omani banking activities, coordinate with the regulators on matters of policy and strategy, and support banking excellence in Oman.