Its wide range of powers includes issuing regulations related to the implementation of Banking Laws, interest rates, capital adequacy, discounting of commercial papers, appointment of banking personnel, and other necessary regulations.
The Board of Directors of the Central Bank of Oman consists of nine members appointed by His Majesty the Sultan, as follows:
| His Highness Sayyid Taimur Asa'ad Tarik Al Said (Chairman)
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H.E. Dr. Said Mohammed Ahmed Al-Saqri Minister of Economy (Deputy Chairman)
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| H.E. Ahmed Jaafar Salim Al-Musalmi Governor of the Central Bank of Oman (Member)
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H.E. Abdullah Salim Abdullah Al-Harthy
Under-Secretary of the Ministry of Finance (Member)
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 | H.E. Abdullah Salem Al Salmi President, Financial Services Authority (Member)
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 | AL Sayyida Rawan Ahmed Thabit ALBusaidi
(Member)
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| Dr. Said Mubarak Said AL Muharrami
(Member)
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 | Dr. Khalfan Mohammed Khalid Al-Barwani
(Member)
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| Dr. Jamil Darwish Jamil Al-Shaqsi
(Member)
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