Although under the overall control of CBO, CBFS has been set up as an autonomous college under the Royal Decree (No. 64/83) in the year 1983. The college functions under a Dean, governed by a Board with its chairman, and Deputy Chairman drawn from CBO. The college offers undergraduate studies, postgraduate studies, professional studies, and a variety of management development programmes. Courses offered are of high professional quality, and some of them are accredited to reputed universities internationally. A major achievement of the college has been its pivotal role played by the college in Omanising the Banking sector where more than 92 % of jobs are held by the nationals.