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البنــك المركــــزي العمـــاني Central Bank of Oman
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HE Attends GCC Central Banks Meet in Kuwait HE Attends GCC Central Banks Meet in Kuwait H.E. Tahir Salim Al Amri, The Executive President of CBO has led an Omani delegation to Kuwait to participate in the 71st meeting of the Committee of GCC Governors of Monetary Authorities and Central Banks/news/105
CBO Announces Auction Results of 58th GDB IssueCBO Announces Auction Results of 58th GDB IssueThe Central Bank of Oman on Sunday, 23rd September, 2018 announced the auction results of the 58th Government Development Bonds (GDB) issue worth RO 150 million. /news/106
CBO Board Holds Third Meeting of the YearCBO Board Holds Third Meeting of the YearCBO's Board of Governors held their third meeting of the year on Sunday 23rd of September 2018 under the Chairmanship of His Excellency Sultan bin Salim bin Said Al Habsi, Deputy Chairman of the Board of Governors. The meeting was held at the CBO Headquarters in MBD area, Muttrah. /news/103

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 News

 

 

HE Attends GCC Central Banks Meet in Kuwaithttps://cbo.gov.om/news/10510/20/2018 8:00:00 PMHE Attends GCC Central Banks Meet in KuwaitH.E. Tahir Salim Al Amri, The Executive President of CBO has led an Omani delegation to Kuwait to participate in the 71st meeting of the Committee of GCC Governors
CBO Announces Auction Results of 58th GDB Issuehttps://cbo.gov.om/news/1049/23/2018 8:00:00 PMCBO Announces Auction Results of 58th GDB Issue​The Central Bank of Oman on Sunday, 23rd September, 2018 announced the auction results of the 58th Government Development Bonds (GDB) issue worth RO 150 million.

 Circulars

 

 

BOD/LB/2018/480 - New Hijri Year 1440H Holidayhttps://authoring.bnet.om/english/Circulars/Pages/BODLB2018480New-Hijri-Year-1440H-Holiday.aspx9/8/2018 8:00:00 PMBOD/LB/2018/480 - New Hijri Year 1440H HolidayAll Banks, Finance & Leasing Co., Money Exchange Co. operating in he Sultante of Oman Shall have an official holiday on 1st Muharram 1440H.https://publishing.bnet.om/sites/assets/Documents/English/Circulars/2018/Circular1440HMuharramHoliday.pdf
BM 1156 - AML/CFT Off-Site Surveillance Frameworkhttps://authoring.bnet.om/english/Circulars/Pages/BM-1156.aspx8/25/2018 8:00:00 PMBM 1156 - AML/CFT Off-Site Surveillance FrameworkAML/CFT Off-Site Surveillance Frameworkhttps://publishing.bnet.om/sites/assets/Documents/English/Circulars/2018/BM1156.pdf

 Treasury Bills

 

 

Treasury Bills Tender Result (5 November 2018)Treasury Bills Tender Result (5 November 2018)11/4/2018 8:00:00 PMhttps://publishing.bnet.om/sites/assets/Documents/Global/TreasuryBills/2018/TreasuryBillsTenderResults06Nov18.pdf
Treasury Bills Tender Result (29 October 2018)Treasury Bills Tender Result (29 October 2018)10/28/2018 8:00:00 PMhttps://publishing.bnet.om/sites/assets/Documents/Global/TreasuryBills/2018/TbillsTenderResults%20Issue29-10-2018.pdf
Treasury Bills Tender Result (22 October 2018)Treasury Bills Tender Result (22 October 2018)10/21/2018 8:00:00 PMhttps://publishing.bnet.om/sites/assets/Documents/Global/TreasuryBills/2018/TBs%20Tender%20Results22Oct2018.pdf
Treasury Bills Tender Results 15 October 2018Treasury Bills Tender Results 15 October 201810/14/2018 8:00:00 PMhttps://publishing.bnet.om/sites/assets/Documents/Global/TreasuryBills/2018/TbillsTenderResults15Oct2018.pdf
Treasury Bills Tender Result (08 October 2018)Treasury Bills Tender Result (08 October 2018)10/7/2018 8:00:00 PMhttps://publishing.bnet.om/sites/assets/Documents/Global/TreasuryBills/2018/TbillsTenderResultsIssue08october2018.pdf
Treasury Bills Tender Result (01 October 2018)Treasury Bills Tender Result (01 October 2018)9/30/2018 8:00:00 PMhttps://publishing.bnet.om/sites/assets/Documents/Global/TreasuryBills/2018/TbillsTenderResults%20Issue01-10-2018.pdf
Treasury Bills Tender Result (24 September 2018)Treasury Bills Tender Result (24 September 2018)9/23/2018 8:00:00 PMhttps://publishing.bnet.om/sites/assets/Documents/Global/TreasuryBills/2018/TreasuryBillsResults24September2018.pdf
Treasury Bills Tender Result (17 September 2018)Treasury Bills Tender Result (17 September 2018)9/16/2018 8:00:00 PMhttps://publishing.bnet.om/sites/assets/Documents/Global/TreasuryBills/2018/TB17Sept18.pdf
Treasury Bills Tender Result (10 September 2018)Treasury Bills Tender Result (10 September 2018)9/9/2018 8:00:00 PMhttps://publishing.bnet.om/sites/assets/Documents/Global/TreasuryBills/2018/TbillsTenderResults%20Issue10-9-2018.pdf
Treasury Bills Tender Result (03 September 2018)Treasury Bills Tender Result (03 September 2018)9/2/2018 8:00:00 PMhttps://publishing.bnet.om/sites/assets/Documents/Global/TreasuryBills/2018/TbillsTenderResults3-9-2018.pdf

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 Publications

 

 

Financial Stability Report 2018 (6th Issue)https://cbo.gov.om/report/FinancialStability/709/19/2018 8:00:00 PMFinancial Stability Report 2018 (6th Issue)Central Bank of Oman released sixth issue of the annual Financial Stability Report (FSR) on September 20th, 2018.The FSR 2018, indicated that improvement in oil prices provided relief to the economy as both the current and fiscal deficits showed marked improvement, while the nominal GDP firmed up during 2017. Nevertheless, fiscal and economic reforms need to continue to ensure sustainable economic growth.
Monthly Bulletin August 2018https://cbo.gov.om/report/MonthlyBulletins/718/15/2018 6:00:00 AMMonthly Bulletin August 2018The preliminary data as per the Monthly Bulletin for the month of August 2018, shows that nominal GDP has witnessed a growth of 6.5 percent during the first quarter (1Q) of 2018, as compared to a much higher growth of 15.8 percent during the same period previous year.

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 Speech

 

 

Annual Meeting with External Auditors - 2017https://cbo.gov.om/speech/510/30/2017 8:00:00 PMAnnual Meeting with External Auditors - 2017 ​It is with great pleasure I welcome you all to this Annual Meeting with External Auditors of Banks and FLCs. For me, this edition is special since it is my first Auditors' Meeting after assuming my new responsibilities at the Central Bank. I have been eagerly looking forward to hearing from you all. This year, we have made some changes in the format of the meeting to make the deliberations theme based, and more interactive and focused. IFRS 9 would be the theme for today's meeting in view of its impending implementation. We also intend to provide you an insight into the rationale behind various policy decisions made in the recent past to enable you to discharge the audit responsibilities effectively. There are two interlinked issues such as implementation of IFRS 9 and proper risk classification of loans and compliance with the Central Bank regulations, that we would like to focus on today. We are now in the final laps in the run up to the mandatory implementation of IFRS 9. I am sure all of you must be very busy in preparing yourself for the challenges ahead for its implementation. We do hope that the auditors would play a proactive role in ensuring that the banking system is well prepared for a consistent and proper implementation of the standard. I would therefore request the audit firms to deploy their experienced and best talent for the job at hand. They should also ensure proper risk classification of loans, provisioning for bad assets and compliance with regulatory requirements and disclosure standards. In this connection also, integrity of financial reporting is critical to the growth of business. The audit firms must implement robust quality controls and internal review procedures so as to ensure integrity of financial reporting and avoid similar lapses in all respects. IFRS 9 enlarges the scope for management discretion and subjectivity. This brings in a host of issues such as the possibility of profit smoothening and under-provisioning. Indeed, even in the absence of management discretion, there is always the possibility of model failure. Therefore, in consultation with audit firms, we have retained our two track approach to impairment provisioning. In order to harmonise the regulatory framework with accounting standards, it is advised that the adjustment for the shortfall in IFRS 9 provisions as compared to CBO requirements be made below the line. Therefore, the auditors have got an onerous job to ensure that the provisions under IFRS 9 are adequate and made for both expected and incurred losses, in keeping with the spirit of the standard. As you are aware, the Central Bank has advised banks to submit IFRS 9 based proforma financial statements in parallel and subject their proforma financial statements for the year ending December 31, 2017 to a limited review by the auditors. There are two primary drivers to this decision. Firstly, it would facilitate better preparedness for the impending implementation. More importantly, it would allow the Central Bank to assess the extent of impact of IFRS 9 on regulatory capital. This would allow us to take a decision on any transitional relief on capital adequacy and also the approach for the dividend payouts for the year 2017. It is imperative, therefore, that this exercise be completed in a timely manner, and the Central Bank receives the audited financial statements of banks/ FLCs and also the IFRS 9 based proforma financial statements for the year ending December 2017 in one lot within the specified time.

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