A senior central banker in Oman has called on the country’s banks to be extra-vigilant about their exposure to sensitive sectors such as real estate as the Gulf state copes with the impact of lower oil prices.

Oman’s finances have been hit hard by the plunge in fuel prices since 2014. Qais Al Yahyaei, head of the financial stability department of the Central Bank of Oman, made his comments at a meeting this week that assessed the vulnerabilities of the country’s financial system, according to a statement posted on the bank’s website.